The price of gold reached a new record high on Tuesday, with futures climbing 1.5% to $2,465.30. This sharp increase was fueled by growing expectations of an interest rate cut in September, leading to heightened demand for bullion. Spot gold also hit an all-time high of $2,465.19 during the session, indicating a significant surge in
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New Balance recently announced a multiyear partnership with the WNBA, joining other major brands in supporting women’s sports. This agreement will make New Balance an official partner of the WNBA and include various forms of marketing and advertising, featuring Los Angeles Sparks rookie forward Cameron Brink. This partnership solidifies New Balance’s commitment to expanding into
The Social Security Administration is making changes to its online services, requiring users who created their “my Social Security” account before Sept. 18, 2021, to transition to a Login.gov account. This update is crucial to ensure continued access to online Social Security services, including requesting card replacements, estimating benefits, checking application statuses, and managing current
Morgan Stanley reported that its second-quarter profit and revenue surpassed analysts’ estimates, driven by stronger trading and investment banking results. The company disclosed earnings of $1.82 per share, higher than the $1.65 per share estimated by LSEG. Additionally, the revenue exceeded expectations at $15.02 billion, compared to the $14.3 billion estimate. The bank experienced a
The luxury fashion sector is facing turbulent times, as demonstrated by Hugo Boss shares plummeting by 10% following the company’s decision to cut its sales outlook. The German fashion powerhouse announced a revised full-year sales forecast of up to 4.35 billion euros, down from a previous estimate of up to 4.45 billion euros. This unexpected
Deutsche Bank, a prominent financial institution, has recently come under scrutiny for incorrectly disclosing its deferred tax assets in its 2019 financial statement. The German regulator BaFin, which stands for the Federal Financial Supervisory Authority, pointed out that the declarations made by the bank regarding deferred tax assets were incomplete. Specifically, BaFin highlighted that 2.076
General Motors’ ambitious goal of producing 1 million all-electric vehicles in North America by the end of 2025 seems to be in jeopardy. CEO Mary Barra cast doubt on this target during a virtual CNBC CEO Council event, citing the slow development of the market for electric vehicles. Barra’s statement raises questions about the feasibility
The attempted assassination of former President Donald Trump at a Pennsylvania rally over the weekend has sparked condemnation from the leaders of Wall Street’s most powerful firms. JPMorgan Chase CEO Jamie Dimon expressed his sadness towards the political violence and attempt on Trump’s life in a memo to employees. Dimon emphasized the importance of standing
Rentvesting is a growing trend in the real estate market that involves renting a primary residence in one city while investing in a property in another city for rental income. This allows individuals to enter the property market even when home prices in their own location are out of reach. However, the process can be
The recent dip in the consumer price index has sparked anticipation for the Federal Reserve to commence interest rate cuts in the coming months. This positive development follows signs of a cooling economy, providing crucial data that supports the need for rate adjustments. Greg McBride, a chief financial analyst at Bankrate.com, highlighted the significance of
