Lobbying: Representatives from more than 30 retailers joined a major industry lobbying group on Capitol Hill Thursday, as they ramped up pressure to pass a law that backers say will curb retail theft. The National Retail Federation escalated its campaign to rally support for the bill, known as the Combating Organized Retail Crime Act, which would make it easier to prosecute theft as a federal felony. Read the full story from CNBC.
Still elevated: An inflation gauge that is closely monitored by the Federal Reserve showed price increases remained elevated in September amid brisk consumer spending and strong economic growth. This morning’s report from the Commerce Department showed that prices rose 0.4% from August to September, the same as the previous month. And compared with 12 months earlier, inflation was unchanged at 3.4%. See the report.
Income jump: ExxonMobil’s third-quarter profit declined compared with last year when the oil giant put up record numbers as oil prices soared, but net income jumped 15% compared with the previous quarter. It also raised its quarterly dividend. Read more.
