Claudia Sahm, chief economist at New Century Advisors, recently stated that the U.S. Federal Reserve does not require an emergency rate cut in response to recent weaker-than-expected economic data. However, Sahm did suggest there is a valid argument for a 50-basis-point cut, emphasizing the importance of the Fed easing its restrictive monetary policy. While the
In a time of market volatility, investors may find it beneficial to explore the world of bonds. According to Joanna Gallegos, co-founder and CEO of BondBloxx, focusing on income and high-yield bonds can be a strategic move to diversify and manage risk. With the current market landscape in mind, Gallegos emphasizes the importance of fixed
Disney recently announced that it will be increasing the prices of its streaming services, Disney+, Hulu, and ESPN+. Starting in mid-October, most plans for these platforms will see a price increase of $1 to $2 per month. Additionally, the most expensive plans for Hulu, which include live TV, will see a significant increase of $6
The latest data on the U.S. labor market has raised concerns among economists, as the number of marginally attached workers has been steadily increasing. These workers, as defined by the Bureau of Labor Statistics, are individuals who are willing and able to work but have not actively searched for employment in the past four weeks.
SunPower, once a prominent player in the rooftop solar installation industry, has now filed for bankruptcy after facing numerous challenges. The company’s stock plummeted by 32% to a mere 55 cents per share, marking a staggering 90% decline throughout the year. These numbers paint a grim picture of SunPower’s financial health. In its Chapter 11
Uber recently released its second-quarter earnings report, exceeding Wall Street estimates. The company reported earnings per share of 47 cents, surpassing the expected 31 cents. Additionally, Uber’s revenue reached $10.7 billion, beating analysts’ expectations of $10.57 billion. This strong financial performance led to a 16% increase in revenue compared to the same period last year.
Yum Brands recently reported a mixed quarter, with both Pizza Hut and KFC experiencing declining same-store sales. CEO David Gibbs attributed these declines to the impacts from the Middle East conflict, as well as a more cost-conscious consumer base. These factors have created headwinds for Yum Brands’ sales overall. Despite these challenges, sales trends have
Saudi Aramco, the state oil giant, recently reported a net profit of $29.1 billion for the second quarter of the year. This figure represents a slight decrease of just over 3% compared to the same period last year. The company’s net income for the first half of the financial year also saw a decline, dropping
In recent years, India has emerged as a hotspot for ultra high net worth individuals (UHNWIs) globally. According to consultancy Knight Frank, the country is expected to witness the fastest growth in UHNWIs over the next few years. This surge in wealth has positioned India’s financial center, Mumbai, as Asia’s leading billionaire hub, surpassing Beijing.
Brokerage firm Robinhood made a stunning announcement late Monday night, revealing that they would be discontinuing overnight trading due to a critical problem with their execution venue. The company disclosed on social media that Blue Ocean ATS, the third-party firm responsible for round-the-clock trading on Robinhood, has halted its overnight market operations. This unexpected development