Claudia Sahm, chief economist at New Century Advisors, believes that an emergency rate cut by the U.S. Federal Reserve is not necessary at this time. Sahm argues that while recent economic data has been weaker than expected, there is no imminent need for such drastic action. She suggests that a more gradual approach, such as
App
In today’s volatile market environment, investors are constantly seeking ways to diversify their portfolios and manage risks effectively. One recommended strategy, as suggested by Joanna Gallegos, co-founder and CEO of BondBloxx, is to prioritize income and high-yield bonds. By incorporating fixed income into their investment strategy, investors can create a more balanced portfolio that is
SunPower, once a leading rooftop solar installer, has recently filed for bankruptcy after facing a multitude of challenges. The company’s stock plummeted by 32% to 55 cents per share, marking a staggering 90% drop in value this year. One of the primary factors contributing to SunPower’s downfall was the burden of high interest rates, which
Uber’s second-quarter earnings report has exceeded Wall Street expectations, with earnings per share at 47 cents compared to the expected 31 cents. The company’s revenue of $10.7 billion also surpassed the $10.57 billion that analysts were anticipating. This performance is a testament to Uber’s resilience and adaptability in the face of challenging economic conditions. The
India is experiencing a significant increase in ultra high net worth individuals (UHNWIs) with projections indicating the fastest growth globally in the coming years. Mumbai, as India’s financial capital, has surpassed Beijing to become Asia’s leading billionaire hub, ranking third globally in billionaire count after New York and London. The UHNWI population in India saw
Legendary investor Warren Buffett stunned the investing world recently by cutting his massive stake in Apple by half, causing the tech giant’s stock to plummet. Berkshire Hathaway revealed in its earnings report that the company’s Apple holding was valued at $84.2 billion at the end of the second quarter, indicating that Buffett had sold off
Following the major disruptions caused by a botched CrowdStrike software update, Delta Air Lines CEO Ed Bastian decided to offer employees two free travel passes as a token of appreciation for their hard work during the chaos. The airline faced more challenges compared to its competitors in resolving the outages that affected thousands of Windows
Coterra Energy recently released its second-quarter results, falling short of Wall Street expectations for both sales and earnings. Despite an increase in revenue of 7% year-over-year to $1.27 billion, the company missed the $1.33 billion consensus forecast. Additionally, adjusted diluted earnings per share decreased by 5.1% compared to the same period last year, coming in
Berkshire Hathaway’s cash pile is on track to surpass $200 billion, which is more than Hungary’s total annual gross domestic product. This is a significant increase from the previous record of $189 billion that was set in the first quarter. This unprecedented cash hoard comes at a time when CEO Warren Buffett has been selling
Recent data from Mortgage News Daily has shown a significant drop in mortgage rates, with the average rate on a 30-year fixed mortgage decreasing by 22 basis points to 6.4%. This marks the lowest rate since April 2023. Additionally, the 15-year fixed rate fell to 5.89%, its lowest level since early May 2023. These declines