Financial technology firm Klarna has recently announced its expansion into banking services with the introduction of new products aimed at disrupting the retail banking industry. The company, known for its buy now, pay later loans, is now offering a checking account-like product and a cashback program to incentivize users to utilize its platform for both
Alibaba, the Chinese e-commerce giant, reported disappointing results for the June quarter of 2024. The company missed both revenue and net income expectations, signaling challenges in its core business operations. Revenue amounted to 243.24 billion Chinese yuan, falling short of the expected 249.05 billion yuan. Net income also saw a significant decline, coming in at
As Walmart prepares to report its quarterly earnings, all eyes are on the retail giant to provide insights into the health of American households and the broader economy. With expectations for earnings per share at 65 cents and revenue at $168.53 billion, investors and economists are eager to see if Walmart’s performance aligns with the
Starbucks made a bold move by luring Brian Niccol from his position as CEO at Chipotle Mexican Grill to take the helm as the new CEO and Chair of the coffee giant. Niccol’s official start date is set for September 9, and he will be faced with the challenging task of reviving Starbucks’ declining sales,
In today’s unpredictable economic climate, many investors are facing uncertainty about the future. While there are differing opinions on whether the U.S. is currently in a recession or heading towards a “soft landing,” one thing is clear – having an adequate amount of emergency savings is crucial. According to a recent survey, nearly 60% of
Despite the promising news of a tentative agreement between Alaska Airlines and their flight attendants union back in June, the recent rejection of the new labor deal has left both parties back at the negotiation table. The deal included significant immediate raises averaging over 24%, but the union’s decision to turn it down suggests that
The recent construction boom in the U.S. has had a significant impact on the rental market. With an increase in construction activity since the pandemic, there has been a surge in the supply of empty units available for renters. This surplus has led to lower rents and other benefits for renters, as landlords are now
Former President Donald Trump has proposed eliminating taxes on Social Security benefits, arguing that seniors should not have to pay taxes on this income. While this idea may seem appealing on the surface, it has been criticized for its lack of a plan to offset the revenue that would be lost as a result. According
Norway’s massive sovereign wealth fund recently reported a first-half profit of 1.48 trillion kroner ($138 billion), with the majority of the gains attributed to robust returns on its investments in technology stocks. The Government Pension Fund Global, known as the world’s largest sovereign wealth fund, disclosed that it had a value of 17.75 trillion kroner
In a recent statement, UBS CEO Sergio Ermotti expressed concern regarding the potential intensification of market volatility in the second half of the year. While acknowledging the recent sharp sell-offs in global equities due to weak economic data from the U.S., Ermotti dismissed the idea of an impending recession in the United States. He did,