A gamer plays on Sony’s Playstation 5 console in his home in Seoul. Yelim Lee | AFP via Getty Images The world’s video game giants saw their sales slip in the second quarter, as initial headwinds from the Covid pandemic faded. In the three months ending June, Microsoft, Sony and Nintendo Each posted disappointing results … Read more
Washington – The Senate succeeded in sweeping the Democrats on Sunday economic package designed to combat climate change, address health care costs and raise taxes on large corporations, representing a key achievement for President Biden and his party as they look to retain control of Congress in the midterm elections of November. The plan, known … Read more
Federal Reserve Bank Governor Michelle Bowman delivers her first public remarks as a Federal policymaker at an American Bankers Association conference in San Diego, California, February 11, 2019. Ann Sapphire | Reuters Federal Reserve Governor Michelle Bowman said on Saturday that she supports the central bank’s recent large interest rate hikes and thinks they are … Read more
Federal Reserve Bank Governor Michelle Bowman delivers her first public remarks as a Federal policymaker at an American Bankers Association conference in San Diego, California, February 11, 2019. Ann Sapphire | Reuters Federal Reserve Governor Michelle Bowman said on Saturday that she supports the central bank’s recent large interest rate hikes and thinks they are … Read more
Fear of recession and price pressures Americans’ urge to splurge has not been tamed. Driving the news: Credit card balances are defying the gravitational pull of stiff inflation and slower growth. They account for about $890 billion of Americans’ whopping $16 trillion in household debt. What is happening: Throwing on experienceslike travel and entertainment, physical … Read more
A person removes the nozzle from a pump at a gas station on July 29, 2022 in Arlington, Virginia. Olivier Douliery | AFP | Getty Images You would now be hard pressed to find a retreat in the rearview mirror. What’s underneath, however, is another story. There is no historical precedent to suggest that an … Read more
Confetti falls as Lyft CEO Logan Green (C) and President John Zimmer (LEFT C) ring the Nasdaq opening bell celebrating the company’s initial public offering (IPO) on March 29, 2019 in Los Angeles, California. The travel app company’s shares were initially priced at $72. Mario Tama / Getty Images Check out the companies making headlines … Read more
But really, only workers i two industries — leisure and hospitality and retail trade — are really coming out ahead, once inflation is taken into account. Overall, wages and salaries of workers in private industry rose 4.2% between December 2019 and last June, before prices are expected to rise, according to an analysis of Employment … Read more
Check out the companies making headlines before the bell: Expedia (EXPE) – The travel website operator’s stock jumped 5.4% in premarket after Expedia beat top and bottom line estimates in its latest quarterly report. Demand for travel was strong, with accommodation revenue up 57% from a year ago and airline ticket revenue up 22%. Block … Read more
Stocks rose sharply in July, with the Nasdaq rebounding from earlier declines. And Wall Street is debating whether the markets are beaten yet. Growth stocks such as technology have fallen sharply this year due to monetary tightening, recession and other risks. And Morgan Stanley warned in an Aug. 3 report that while the Nasdaq has … Read more