Wayfair, an online home goods company, reported a decline in sales during its fiscal second quarter. CEO Niraj Shah described the current slowdown in the home goods category as “unprecedented,” likening it to the 2008 financial crisis. The company fell short of Wall Street’s expectations, with earnings per share coming in at 47 cents adjusted
Barclays announced a second-quarter net profit attributable to shareholders of £1.2 billion, which was slightly lower than the previous year. Analysts had anticipated a net profit of £1.03 billion, as per LSEG data. The revenue for the latest quarter was reported to be £6.3 billion, surpassing the forecast of £6.25 billion. Additionally, the company unveiled
Bill Ackman’s Pershing Square USA recently made the decision to withdraw plans for an initial public offering after it became clear that investor demand was not as robust as originally anticipated. This move was unexpected, especially considering Ackman’s desire to model the offering after Berkshire Hathaway. Despite the setback, Ackman remains undeterred and has stated
Vice President Kamala Harris has made it clear that building up the middle class will be a crucial focus of her presidency. She believes that a strong middle class is essential for a strong America. During a political event in Atlanta, she reiterated her commitment to providing relief for families grappling with the high cost
The Federal Reserve officials decided to maintain short-term interest rates on Wednesday with no indication of an imminent reduction. Despite concerns about economic conditions, they did acknowledge progress in reaching their employment and inflation goals. Inflation, although slightly elevated, has shown signs of improvement. This cautious approach suggests that rate cuts may be on the
Meta, formerly known as Facebook, is scheduled to release its second-quarter earnings report after the closing of regular trading on Wednesday. According to analysts, the projected earnings per share is $4.73, with an expected revenue of $38.31 billion. Wall Street anticipates a 20% sales growth from the previous year, aiming for $32 billion, as Meta’s
Boeing, a well-known aircraft manufacturing company, recently released its second-quarter report, showing a larger loss and weaker revenue than anticipated by analysts. The company continues to face challenges in both its commercial airplane and defense programs, leading to a need for strategic changes to regain stability. In the second quarter, Boeing reported a loss of
Boeing, the aerospace giant, has recently appointed Robert “Kelly” Ortberg as its new CEO, in an effort to navigate its way through numerous challenges in the wake of safety and manufacturing crises. Ortberg, a long-time aerospace veteran, will be taking on the role starting on Aug. 8. This appointment comes at a critical time for
The recent lawsuit filed by Washington, D.C.’s Attorney General Brian Schwalb against StubHub shines a light on the shady practices of this online ticket exchange platform. The allegations of deceptive and unfair pricing practices have raised concerns among consumers and lawmakers alike. StubHub’s use of deceptive advertising, such as hiding true ticket prices and adding
The Biden administration is once again making an attempt to forgive the student debt of millions of Americans following the Supreme Court’s rejection of their initial effort. The U.S. Department of Education is set to contact borrowers who may qualify for widespread loan forgiveness in the upcoming days, with the aim of providing relief in
