The legendary price is here to stay.
Corporate America is starting to feel the chill of a looming recession as top executives from companies such as JPMorgan Chase & Co, Walmart Inc and United Airlines paint a grim economic picture for the coming year. The U.S. Federal Reserve's relentless war on inflation, which is at a multi-decade high, through aggressive rate hikes is roiling the economy and forcing companies to lower their earnings forecasts and rein in expenses. JPMorgan CEO Jamie Dimon warned of a "mild to hard recession" next year as a slowing economy and runaway inflation hurt consumer spending, while Scott Kirby, his counterpart at United Airlines, has flagged plateauing demand for air travel, indicating "pre-recessionary behavior," in their interviews with CNBC this week.
Amazon (AMZN) rolls out a new feature - Inspire on its shopping app. The feature offers short-form video and photo feeds of products.