The first quarter of 2023 marked a significant turnaround for South Korean memory chipmaker SK Hynix, as the company reported a net profit of 1.92 trillion South Korean won ($1.39 billion). This positive income comes after a string of losses totaling 2.58 trillion won in the same period a year ago. The shift in financial
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After an extended stalemate, Starbucks and the union representing its baristas are set to resume contract negotiations. This comes after both sides had previously found a “constructive path forward” during mediation discussions concerning litigation regarding the union’s use of Starbucks’ branding. The union, affiliated with the Service Employees International Union, and Starbucks have had a
Ford Motor recently announced its first-quarter earnings, and the results are not as positive as Wall Street had hoped. Analysts were expecting earnings per share of 42 cents, with automotive revenue reaching $40.10 billion. However, the actual results show a 2.6% increase in revenue compared to the previous year, but a significant 32.9% decline in
Kering, the French luxury group behind brands like Gucci and Yves Saint Laurent, has been facing a challenging time in the luxury market. The company recently issued a warning that it expects a significant decline in first-half profits, leading to a sharp drop in its stock price. This can be attributed to waning demand for
Rising for the third consecutive week, mortgage rates reached their highest levels since November, causing a 2.7% drop in mortgage application demand compared to the previous week. This decrease in demand can be attributed to the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances rising to 7.24% from 7.13%. Applications to