Personal Finance

Costco co-founder and former CEO Jim Sinegal appeared on CNBC Wednesday morning to offer a preview of his speech last night at the Democratic National Convention and explain why he supports the re-election of president Barack Obama.

New York -- The Thomson Reuters/University of Michigan consumer sentiment index climbed to a better-than-expected 74.3, compared to 72.3 in July and representing a three-month high.

Aggressive retail discounting and record-low interest rates boosted the results, but unemployment remains a big concern. 

“Confidence is lackluster,” Jim O’Sullivan, chief U.S. economist for High Frequency Economics Ltd., told Bloomberg. “It typifies the economy right now. It’s not strong, but not collapsing either.”

New York -- California and Indiana have the highest statewide sales taxes in the country, but Tennessee and Arizona take top billing when local sales taxes are added to the calculation, according to a new analysis by the Tax Foundation, a Washington, D.C.-based think tank that monitors fiscal policy at the federal, state and local levels.

New York -- The Deloitte Consumer Spending Index, released on Wednesday, decreased slightly in July, marking the first decline since February 2012. 

The Index tracks consumer cash flow as an indicator of future consumer spending.

BENTONVILLE, Ark. — The Walmart Foundation alongside six women’s foundations – The Washington Area Women’s Foundation, The New York Women’s Foundation, Women’s Fund of Mississippi, Women’s Foundation of Minnesota, Women’s Foundation for a Greater Memphis and Women’s Funding Network – has launched the Partnership for Women’s Prosperity. The new national partnership intends to help economically vulnerable women gain financial and economic security through education, job training and employment opportunities.

Bentonville, Ark. -- The Walmart Foundation announced Tuesday the launch of its Partnership for Women’s Prosperity, a move to help economically vulnerable women gain financial and economic security through education, job training and employment opportunities.

Best Buy founder and former chairman Richard Schulze on Monday offered to buy the struggling retailer and take it private for as much as $8.8 billion. Schulze said he would offer Best Buy shareholders between $24 and $26 for each of their shares in the chain, according to a letter sent to the board that he made public.

New York -- Consumer confidence unexpectedly rose in July as Americans were more optimistic about the short-term outlook than they were about their current conditions, according to a report released Tuesday by The Conference Group, private research group. The report showed that while consumers are feeling better about the economy, they remain wary about the labor markets.

Most Americans are locked in a struggle to make ends meet, which is why Walmart’s message of saving people money so they can live better is resonating stronger than ever.

Retailers don’t like the fees they are required to pay Visa and Mastercard, but retailers are willing to charge unwary and unbanked consumers plenty of other fees.