Eli Lilly’s weight loss drug Zepbound has shown significant benefits in patients with a common type of heart failure and obesity, based on late-stage trial data released by the company. The findings highlight the potential health benefits of Zepbound and other popular GLP-1 drugs beyond just weight loss and blood sugar regulation. This could potentially
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Wayfair, an online home goods company, recently faced a decline in sales during its fiscal second quarter. The CEO, Niraj Shah, described the current slowdown in the home goods category as “unprecedented” and drew comparisons to the 2008 financial crisis. Consumer spending on home goods has decreased significantly, with customers exhibiting caution in their purchases
Barclays recently reported a second-quarter net profit of £1.2 billion, which was slightly lower than the previous year’s figure. The decline in net interest income in the core U.K. units played a significant role in this result. Analysts had actually expected a lower attributable net profit of £1.03 billion for the period, showing a decline
Bill Ackman, the well-known hedge fund manager, recently decided to withdraw his plans for an initial public offering (IPO) due to a perceived lack of investor interest. This decision comes as a surprise, especially considering Ackman’s initial aspirations to model his fund after the successful Berkshire Hathaway. It seems that the original expectations for the
Vice President Kamala Harris recently expressed her commitment to prioritizing the middle class during her presidency, highlighting the importance of a strong middle class for a resilient America. To achieve this, Harris has proposed various policies such as the LIFT the Middle Class Act, aimed at providing significant tax relief to lower- and middle-income workers.
Meta, formerly known as Facebook, is set to release its second-quarter earnings report after the market closes on Wednesday, with analysts forecasting earnings per share of $4.73 and revenue of $38.31 billion. The expectations are high, with Wall Street anticipating a 20% sales growth from $32 billion in the previous year. Meta’s business has been
The Federal Reserve officials decided to maintain short-term interest rates at their current levels while indicating that inflation is moving closer to their target. This decision has sparked discussions about the possibility of future interest rate cuts. The central bankers acknowledged that there has been progress in economic conditions but maintained a cautious approach towards
Boeing has announced the appointment of Robert “Kelly” Ortberg as the new CEO, taking over from Dave Calhoun. Ortberg, a veteran in the aerospace industry, brings years of experience to the role, previously leading major aerospace supplier Rockwell Collins. His appointment comes at a challenging time for Boeing, as the company faces persistent losses, increased
Boeing, a renowned aerospace manufacturer, recently reported disappointing financial results in the second quarter of the year. The company’s loss per share was $2.90, significantly higher than the expected $1.97. Additionally, its revenue of $16.87 billion fell short of the anticipated $17.23 billion. This underperformance indicates significant challenges within the organization, especially in its commercial
The Biden administration is making another attempt to forgive the student debt of millions of Americans, following a previous failed effort that was struck down by the Supreme Court. This new initiative aims to provide relief to borrowers who have been burdened by the broken student loan system. The U.S. Department of Education will be