Morgan Stanley, one of the major players in the financial industry, is making significant strides in the adoption of artificial intelligence (AI) to enhance the efficiency of its financial advisory services. The latest addition to its AI arsenal is an assistant named Debrief, designed to streamline the note-taking process for advisors and provide them with
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FedEx shares experienced a significant surge of over 15% in after-hours trading following the release of its fiscal fourth quarter results. The company exceeded analysts’ expectations in both earnings and revenue. In terms of earnings per share, FedEx reported $5.41 adjusted compared to the anticipated $5.35. Revenue also surpassed estimates, coming in at $22.11 billion
The U.S. auto industry has experienced a 2.9% increase in sales in the first half of the year compared to the same time last year. However, there are growing concerns that this momentum may not be sustainable through the end of the year. Factors such as increasing vehicle inventory levels, rising incentives, and uncertainties surrounding
Target has announced that it will be partnering with Shopify to introduce new and trendy brands to its e-commerce platform. The collaboration, known as Target Plus, will allow Shopify merchants to apply to join Target’s marketplace, thereby expanding the selection of products available on the retailer’s website. Target’s Chief Guest Experience Officer, Cara Sylvester, stated
Forever 21, a once prominent player in the fast-fashion market, is currently facing financial difficulties that have led the company to request a rent reduction of up to 50% from its landlords. The company has over 380 stores in the U.S. and is struggling to keep up with the evolving landscape of retail. While the
The latest data on the sale of previously owned homes shows that the market is experiencing a significant slowdown, with sales sitting at a 30-year low. In May, there was little movement in sales figures, with a decrease of 0.7% compared to April. This stagnation in the market is further exacerbated by soaring prices and
Darden Restaurants faced challenging times in their recent quarterly results, especially with Olive Garden. The Italian-inspired chain saw its same-store sales fall for the second consecutive quarter, dropping by 1.5%. This decline was unexpected, as analysts were anticipating flat same-store sales growth. In the previous quarter, Olive Garden experienced a 1.8% decline in same-store sales,
In recent years, the box office has been missing a crucial element – family films. While a few hits such as “Super Mario Bros.” have managed to attract audiences, many family features either opted for streaming releases during the pandemic or were spaced out so much on the calendar that any momentum was lost. However,
Boeing CEO Dave Calhoun is set to address a Senate panel regarding the imperfections in the company’s culture, admitting that there is much room for improvement. The acknowledgment comes as fresh whistleblower claims have emerged just before the hearing, alleging mishandling of defective parts within the company. Calhoun, who has announced his intention to step
Senator Elizabeth Warren recently accused Fed Chair Jerome Powell of prioritizing the interests of the financial industry over the well-being of the American public. In a scathing letter obtained by CNBC, Warren expressed disappointment in Powell’s alleged advocacy for slashing the increase in capital requirements for large American banks under the Basel III Endgame proposals.