In August, the housing market experienced a noticeable decline in existing home sales, with transactions for previously owned homes falling by 2.5% from July levels. The National Association of Realtors (NAR) reported that sales reached a seasonally adjusted annualized rate of 3.86 million units, slightly under analysts’ expectations and reflecting a 4.2% decrease compared to
sales
Darden Restaurants recently announced its quarterly earnings, revealing results that did not align with market expectations. For the three-month period ending August 25, the company reported adjusted earnings per share (EPS) of $1.75, falling short of Wall Street’s anticipation of $1.83. Revenue also lagged behind forecasts, clocking in at $2.76 billion against a projected $2.8
China’s economy is currently grappling with a significant consumption slowdown, primarily influenced by a deepening crisis in the real estate sector and its consequential impacts on local government finances. Over the past two decades, a substantial portion of Chinese household wealth has been tied up in real estate investments, creating an economic structure that heavily
Recent data from China’s National Bureau of Statistics reveals a worrying trend in the nation’s economic indicators for August, showcasing slower growth than projected. This downturn comes at a pivotal moment as the world’s second-largest economy grapples with the aftermath of Covid-19 recovery. The figures released suggest a collective economy struggling to regain momentum, prompting
In July, China launched a bold initiative aiming to stimulate domestic consumption by encouraging trade-ins for household goods, such as cars and appliances, which aligns with its long-term economic goals. The government allocated a staggering 300 billion yuan (approximately $41.5 billion) in ultra-long special government bonds specifically designed for expanding policies around trade-ins and upgrades
Recent developments in the housing market, coupled with shifts in interest rates, present promising investment opportunities for stocks like Home Depot. Last week marked the purchase of additional shares of this renowned home improvement retailer, demonstrating a strategic approach amidst fluctuating economic conditions. Initially acquiring 50 shares at approximately $362, another batch followed just days
Foot Locker recently reported a significant growth in comparable sales for the first time in six quarters. The beleaguered sneaker company saw a 2.6% increase in same-store sales, surpassing analysts’ expectations. This positive trend has been attributed to the company’s ongoing efforts to refresh its stores and enhance the customer experience. Moreover, Foot Locker’s gross
Dutch challenger bank Bunq recently announced its intention to increase its global headcount by 70% this year, with a goal of reaching over 700 employees. This decision comes at a time when many other fintech startups are downsizing. Bunq, which currently operates in various markets within the European Union, is looking to expand into new
Dubai’s real estate market continues to thrive, with 2024 poised to be another record-breaking year in terms of sales figures and property values. The demand for property, particularly in the luxury segment, is driving prices up not only for homes but for all commodities in the city. This surge in demand comes at a time
The recent announcement by Dollar Tree regarding a sharp decline in shares by more than 15% has sent shockwaves through the retail industry. The discounter cut its full-year outlook, citing increasing pressures on middle-income and higher-income customers. The retailer expressed concerns over softer sales and costs associated with converting 99 Cents Only stores. Dollar Tree