Joann Fabrics Announces Closure of Over 500 Stores Amid Financial Restructuring

Joann Fabrics is set to close more than 500 of its 850 stores across 49 states as part of its financial restructuring efforts, following a second Chapter 11 bankruptcy filing. The closures will significantly impact several states, with California, Florida, and Michigan among the most affected. The company aims to 'right-size its store footprint' and continues to support its employees and customers during this transition.

U.S. Inflation Rises to 3% in January 2025, Marking Fourth Consecutive Increase

In January 2025, the U.S. saw a 3% year-over-year increase in the Consumer Price Index, marking the fourth consecutive month of rising inflation. Concerns grow over the end of broad disinflation, with significant price hikes in groceries, energy, and transportation. Economists warn of potential inflationary pressures from President Trump's policy agenda.

Kilauea Volcano Erupts Again; A Fiery Spectacle in Hawaii

Hawaii's Kilauea volcano erupted on February 11, 2025, showcasing dramatic lava fountains over 330 feet high. This event marks the ninth eruption since December 2024, attracting visitors to Hawaii Volcanoes National Park despite potential hazards.