Costco Wholesale managed to exceed Wall Street’s expectations in its third-quarter earnings report, showcasing strong sales growth and lower operating expenses. The company’s total revenue for the quarter reached $58.52 billion, marking a 9.1% increase from the previous year and surpassing analysts’ estimates. Additionally, earnings per share came in at $3.78, outperforming forecasts and displaying
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Amid the fluctuating demands of the job market post-pandemic, lower-earning Americans have seen a consistent pace of hiring, even surpassing pre-pandemic levels. The data from Vanguard reveals that the hire rate for the bottom one-third of workers by income, earning less than $55,000 a year, stood at 1.5% in March. This rate has remained relatively
In April, signed sales contracts on existing homes dropped by 7.7% compared to March, marking the slowest pace since April 2020, according to the National Association of Realtors. This decline in pending sales, which are considered a forward-looking indicator of closed sales in the coming months, was also 7.4% lower than in April of the
In a recent discussion before the Economic Club of New York, New York Federal Reserve President John Williams expressed his views on the current state of inflation. He mentioned that while inflation is still considered high, he remains optimistic that it will begin to slow down later this year. Williams acknowledged the uncertainty surrounding the
Boeing CEO Dave Calhoun and other top company leaders are set to meet with the Federal Aviation Administration (FAA) in order to present a detailed quality improvement plan. This plan is aimed at addressing concerns regarding staff training and production practices at Boeing factories, following a concerning incident earlier this year involving a 737 Max
Renowned short seller Jim Chanos vehemently denied the accusations against him, describing them as “false, baseless, and defamatory.” In an interview with CNBC’s Scott Wapner, Chanos addressed the lawsuit filed by Conlon Holdings, a company run by Sean Conlon, alleging that Chanos embezzled funds for personal use. The lawsuit claimed that Chanos treated his firm
The research conducted by the Schwartz Center for Economic Policy Analysis at the New School for Social Research reveals a concerning reality for millions of older Americans. According to the study, over 2.2 million individuals aged 55 and over are burdened with outstanding student loan debts. This debt not only impacts their current financial situation
Nissan has recently issued a warning to owners of older vehicles, advising them to refrain from driving cars that are equipped with recalled Takata airbags. The National Highway Traffic Safety Administration (NHTSA) revealed that approximately 83,920 vehicles are affected by this alert. These vehicles include models such as the 2002-2006 Nissan Sentra, 2002-2004 Nissan Pathfinder,
The Delaware College of Art and Design recently announced its decision to close due to low enrollment numbers for the upcoming academic year. The institution cited issues with the new Free Application for Federal Student Aid (FAFSA) as one of the contributing factors to the decline in student enrollment. According to the college’s president, Jean
Stellantis, formerly known as Fiat Chrysler Automobiles, has announced its plans to introduce a $25,000 all-electric Jeep vehicle in the U.S. CEO Carlos Tavares mentioned that the new electric vehicle will be priced similarly to the Citroen e-C3 SUV in Europe, which starts at around $25,200. This move is aimed at appealing to mainstream consumers