U.S. economy posts 3.1 percent growth boosted by farm stocks
The Commerce Department reports a 3.1 percent annualized GDP rise for April through June, the fastest in over two years, lifted by larger farm inventories. Economists expect a sharp slowdown in the next quarter due to Hurricanes Harvey Irma and Maria, with forecasts ranging from 0.5 to 1.7 percentage points weaker growth.
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Harvey
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Equifax pledges improvements after data breach crisis
Equifax interim CEO Paulino de Rego Barros Jr apologizes for poor consumer response after the breach affecting up to 143 million people. The company plans free lifetime credit file locks, extended free credit freezes, and TrustedID Premier signups through Jan. 31, while lawmakers push for indefinite free freezes across bureaus.
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Richard Cordray
TransUnion
Experian
Toys R Us unveils comeback plan
Toys R Us announces a revival strategy including 42 play labs in stores, toy vans on campuses, and a giant Etch A Sketch in a New York subway station under the Today we play campaign. The plan targets higher engagement after a bankruptcy filing and quarterly loss of 166 million on 2.1 billion in sales.
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Associated Press
Stocks reach new highs as tech gains lead
U S stocks closed slightly higher with the S P 500 at a record 2510.06 as technology, materials and financial shares rose. AbbVie jumped after a Humira related deal delaying competition while the Dow gained 0.2 percent and the Nasdaq edged up. The Russell 2000 also hit a new high.
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