Morning Business Report: Target cuts prices on nearly 2,000 items ahead of holiday shopping season
Target announced price cuts on nearly 2,000 items ahead of the holiday shopping season, with most of the affected products priced about 20% lower than last year.
(LILAMAX)- Target announced price cuts on nearly 2,000 items ahead of the holiday shopping season, with most of the affected products priced about 20% lower than last year.
The reductions include women’s, men’s, infant and toddler apparel and shoes, along with bedding and home goods. Brands included in the price cuts include Universal Thread, A New Day, All in Motion and Cat & Jack.
Target’s Circle Deal Days will run Oct. 6 through Oct. 7, alongside Amazon’s Prime Big Deal Days. Walmart’s fall deals event begins Oct. 5.
Meanwhile, the Trump administration is giving federal student loan borrowers more time to enroll in autopay and receive a reduced interest rate.
The Department of Education announced borrowers now have until Dec. 31 to enroll, extending the deadline by three months. Borrowers who enroll or are already enrolled in autopay can receive a temporary 1% interest rate reduction through June 30, 2028.
Borrowers can find additional information through the U.S. Department of Education.
On Wall Street, the Dow posted another loss as interest rates continued to climb. The combination of higher oil prices and yields has put pressure on stocks.
Carnival Cruise Line raised its full-year outlook as demand for future sailings reached its highest level ever during the quarter.
To accommodate increased demand, Carnival said it plans to deploy more ships in Europe and the Caribbean equally in 2027. The cruise line said it has no interest in expanding into resorts and plans to remain focused on its cruise business.
And artificial intelligence could force 11 million workers into new jobs, according to McKinsey.
McKinsey says the technology could ultimately create more jobs than it eliminates, but the transition could be difficult for many workers. Six out of seven workers facing a job transition could require substantial retraining and experience a loss of income.
