Cheddar Afternoon News Briefings of August 17th 2023

News Briefings

This is your daily news briefing from Cheddar News. Bye bye. Baby is making a comeback under its new ownership. CNBC is reporting that the new owners company Dream on me are planning to open 11 stores by Fall in the Northeast. Dream on me purchased the intellectual rights of the company from Bed Bath and beyond in June. When the company was in bankruptcy, 401k balances went up across all age groups in the second quarter. That's according to the latest data from Fidelity, which accounts for about 23 million retirement accounts. The average 401k balance went up to $112,400 in Q two. That's up 4% from Q one. This marks the third straight quarter that balances grew. The average balance rose 39% compared to 10 years ago. Chinese Home Appliance company is recalling over 1.5 million humidifiers over fire and burn risk. According to the US Consumer Product Safety Commission. So far, there have been 23 reports of appliances sparking a fire. The recalled 42 de humidifier models made between January 2011 and February 2014 and they include brands like Kenmore Ge and Sea Breeze. And that's your chet news update. I'm in New York City.