The real estate market experienced a setback in July, with sales of previously owned homes dropping by 2.2% compared to June. The National Association of Realtors reported that the annualized rate of sales reached 4.07 million units, reflecting a significant decline of 16.6% compared to the same period last year. These figures indicate that July
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During last week’s Monterey Car Week, the classic-car market experienced signs of slowing down. Although the total sales for the auctions reached $397 million, making it the second-highest total ever recorded, it was a 16% drop from the previous year’s record-breaking total of $473 million. This decline, combined with high-profile disappointments on the auction block,
In a significant industry shake-up, German-based discount supermarket Aldi has announced plans to acquire approximately 400 Winn-Dixie and Harveys Supermarket locations in the Southern United States. This move will not only involve taking over the operations of these stores but also potentially rebranding them under the Aldi name. With the deal set to be finalized
The stock of Bloomin’ Brands, the parent company of Outback Steakhouse, experienced a 9% increase in premarket trading after an activist investor, Starboard Value, disclosed its interest in the restaurant company. According to a regulatory filing, Starboard Value now owns 9.9% of Bloomin’s shares. This development has sparked curiosity and speculation about the future of
Moderna, one of the leading biotech companies, has announced promising results from an early clinical trial of its new Covid vaccine. The updated vaccine is specifically designed to target the omicron subvariant XBB.1.5, but the findings indicate that it may also be effective against other rapidly spreading variants, including Eris and Fornax. This development comes
Target Corporation, the big-box retailer, has reported disappointing quarterly sales results and has revised its full-year forecast, as it continues to struggle to convince consumers to make non-essential purchases. The company has reduced its expectations for both sales and profit, reflecting concerns about inflation and the economic landscape. Despite better-than-expected quarterly earnings and improved inventory
In today’s digital age, the decline of traditional television continues its downward spiral. According to Nielsen’s monthly streaming report, The Gauge, total traditional TV usage, including both broadcast and pay-TV, dropped below the 50% mark for the first time ever in July. The numbers speak for themselves – usage among pay-TV customers fell to 29.6%
Telesat, the Canadian telecommunications satellite operator, has made a significant announcement regarding its ambitious Lightspeed global internet network. The company has opted to switch suppliers for the construction of this groundbreaking project, choosing Canadian space company MDA over French-Italian manufacturer Thales Alenia Space. This strategic move is expected to result in substantial savings of approximately
In the wake of devastating wildfires in Maui, several major airlines including American Airlines, Southwest Airlines, and Alaska Airlines have taken steps to assist customers and facilitate their departure from the affected areas. The wildfires, which have tragically claimed the lives of at least 36 people and prompted widespread evacuations, have left behind a trail
In a bold move, Disney’s ESPN has announced its foray into the world of sports betting with the launch of ESPN Bet. Partnering with U.S. gambling company Penn Entertainment, ESPN will rebrand and relaunch Penn’s Barstool Sportsbook as its exclusive sports-betting platform. This strategic collaboration marks ESPN’s first branding effort in the sports-betting space and