Warren Buffett’s Berkshire Hathaway made history by becoming the first non-technology company in the U.S. to hit a market cap of $1 trillion. The Omaha-based conglomerate’s shares have surged more than 28% in 2024, outperforming the S&P 500’s 18% gain. This achievement comes just two days before Buffett’s 94th birthday, adding to the significance of
App
Gap shares were abruptly halted on Thursday morning due to the early release of their quarterly earnings results. This unexpected turn of events left investors and analysts puzzled as they awaited the official announcement scheduled for later that day. The apparel retailer’s second-quarter earnings report was eagerly anticipated, but the premature disclosure created a stir
The labor market is a challenging space, especially for young adults who are often the first to bear the brunt of economic downturns. A recent report by the Federal Reserve Bank of St. Louis highlighted that approximately 16% of 18- to 24-year-olds fall under the category of “disconnected youth.” These individuals, also known as “NEETs”
Ulta Beauty shares took a significant hit, dropping 7% in extended trading following a disappointing second-quarter performance. The company failed to meet expectations and had to revise its full-year guidance due to a decline in same-store sales. This marks the first earnings per share miss for Ulta Beauty since May 2020 and the first revenue
China’s housing market continues to face challenges despite various government support measures. According to JPMorgan economist Haibin Zhu, the sector is still experiencing a downturn and home prices are not expected to stabilize until at least 2025. The latest data shows that the average price for new home sales in 100 Chinese cities has only
Travel spending among American households has surpassed pre-pandemic levels, with a significant portion of this increase attributable to international trips. According to economists at the Bank of America Institute, vacationing abroad has become a key driver of travel momentum. Despite a slight decrease in overall travel spending compared to 2023, expenditure remains significantly higher than
The British fund manager abdrn has expressed concerns about the U.S. economic outlook, predicting a potential soft landing but warning of the risk of a prolonged slowdown in 2025. This warning comes from Kenneth Akintewe, the company’s head of Asian sovereign debt, who questioned whether the Federal Reserve (Fed) is already making a policy mistake
The news of Rupert Murdoch-owned REA Group considering a takeover offer for the U.K. property portal Rightmove has sparked significant interest in the global real estate market. This potential merger could create a massive digital real estate business, consolidating two major players in the industry. The Australian property listings company, controlled by News Corp, has
China has taken a significant step in the gaming industry with its first top-tier video game, Black Myth: Wukong. This action-packed game set in mythological China has captured the attention of gamers worldwide and has broken several world records. In just three days after its launch on Aug. 20, Black Myth: Wukong sold over 10
With the Federal Reserve contemplating the reduction of interest rates, the future of the U.S. economy hangs in the balance. The opinions among experts are split between the likelihood of a widespread economic decline, or even a recession, and the hopes that the central bank can prevent such a downturn and achieve a “soft landing”.