In July, inflation saw a slight increase, as reported by the Commerce Department. The personal consumption expenditures price index rose by 0.2% on the month and was up 2.5% from the previous year. This data aligns with the Dow Jones consensus estimates. Excluding volatile food and energy prices, core PCE also saw a 0.2% increase
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Salesforce recently released its fiscal second-quarter results, and the numbers exceeded analysts’ expectations. The company reported adjusted earnings per share of $2.56, surpassing the estimated $2.36. Revenue also saw growth, coming in at $9.33 billion compared to the expected $9.23 billion. This growth was driven by various factors, including an increase in average revenue per
The recent decrease in mortgage rates for the fourth consecutive week did not receive the expected enthusiastic response from homeowners and potential homebuyers. The Mortgage Bankers Association reported a mere 0.5% increase in total mortgage application volume compared to the previous week. Despite the average contract interest rate for 30-year fixed-rate mortgages dropping to 6.44%,
Amazon aggregators Branded and Heyday are set to merge, creating a new entity named Essor. This strategic move comes as a segment of the e-commerce industry that thrived during the Covid era continues to consolidate. Essor, which means “take flight” in French, embodies the vision of elevating brands to new heights through their platform. The
Boeing and NASA made an unexpected decision to bring back the Starliner capsule from the International Space Station without the NASA astronauts it had delivered earlier. This turn of events meant that astronauts Butch Wilmore and Suni Williams would now return via SpaceX’s Dragon spacecraft. While this change in plans might seem abrupt, it was
The economic landscape has been a topic of interest for many, and Philadelphia Federal Reserve President Patrick Harker provided a strong endorsement for an interest rate cut in September. Speaking from the Fed’s annual retreat in Jackson Hole, Wyoming, Harker directly stated that monetary policy easing is on the horizon. This clear indication of a
Waymo, a subsidiary of Alphabet, has achieved a significant milestone by providing over 100,000 paid robotaxi rides per week in the United States. This marks a substantial increase from the 50,000 weekly paid trips reported just a few months ago. The company’s co-CEO, Tekedra Mawakana, made the announcement via LinkedIn, showcasing the rapid growth of
The ongoing feud between United Auto Workers President Shawn Fain and Stellantis CEO Carlos Tavares has escalated, with Fain accusing Tavares of price gouging consumers and failing to uphold parts of the union’s labor contract with the automaker. These accusations are serious and could have significant implications for both the company and its workforce. Fain’s
The remainder of August is poised to become a pivotal moment in the history of the American workforce, heralded by the Federal Trade Commission’s impending enforcement of a rule to eliminate non-compete clauses, effective September 4, 2024. As this critical deadline nears, we are on the cusp of potentially witnessing the largest exodus of resignations
The recent resignation of Nemat “Minouche” Shafik as the president of Columbia University has stirred up controversy and left many questioning the circumstances that led to her departure. After just a little over a year in office, Shafik decided to step down amidst mounting criticism over her handling of protests on campus related to the