Inflation in the United States continued to decline in July, with price pressures easing on consumer staples like food and energy, as well as physical goods such as new and used cars. The consumer price index (CPI), a crucial metric for measuring inflation, increased by 2.9% in July compared to the same month a year
Business
Byron Allen, the media mogul known for his interest in purchasing various media assets for billions of dollars, has found himself in hot water due to consistent late payments at his broadcast stations. Network owners such as ABC, CBS, and NBC have reportedly been left waiting for payments from Allen Media Group-owned stations, with delays
Tencent exceeded both top and bottom line expectations in the second quarter, showcasing an 8% year-on-year revenue increase and an impressive 82% rise in profits. This performance comes after a challenging year in 2022, where the company faced its first-ever annual revenue decline. The key driver of this growth was the successful reacceleration of its
Alibaba recently reported its financial results for the June quarter of 2024, and the numbers fell short of expectations set by LSEG. The company’s revenue came in at 243.24 billion Chinese yuan ($34.01 billion), missing the 249.05 billion yuan expected. Similarly, Alibaba’s net income was 24.27 billion yuan, below the 26.91 billion yuan estimated. This
Walmart is gearing up to report its quarterly earnings, and analysts are eagerly awaiting the results to gain insight into the state of American households and the overall economy. The consensus estimates for Walmart’s earnings per share are 65 cents, with revenue expected to reach $168.53 billion. As the nation’s largest retailer, Walmart’s performance is
In the midst of economic uncertainty, investors are faced with the challenge of determining how much cash they should set aside for emergency savings. Despite some positive economic indicators, such as second-quarter growth, there is a prevailing sense of unease among Americans. A recent survey revealed that nearly 60% of respondents mistakenly believe that the
The potential interest rate cut by the Federal Reserve could have a significant impact on Home Depot’s business. Chief Financial Officer Richard McPhail mentioned in an interview with CNBC that homeowners have been postponing new house purchases and major projects due to higher interest rates. This waiting game has been intensified as many people believe
Brian Niccol has been hailed as the savior of Starbucks by Wall Street analysts, who believe his appointment as CEO and chairman is exactly what the company needs to navigate a post-Howard Schultz era. The decision to replace Laxman Narasimhan, who struggled to revive the business, with Niccol has been met with enthusiasm by investors,
HelloFresh, a German meal kit firm, made headlines as its shares surged following a better-than-expected profit report for the second quarter. The company revealed an adjusted EBITDA of 146.4 million euros, exceeding analyst forecasts and demonstrating resilience despite a 23.7% decrease from the previous year. Furthermore, revenue increased by 1.7% to 1.95 billion euros, highlighting
Despite surpassing quarterly expectations, Home Depot is facing challenges ahead due to weaker than expected sales in the back half of the year. The home improvement retailer attributes this decline to high interest rates and consumer uncertainty, which have dampened demand. The company now anticipates full-year comparable sales to decrease by 3% to 4%, a