Business

After weathering a tumultuous period due to the ongoing COVID-19 pandemic and supply chain disruptions, the U.S. automotive industry is anticipating a slight increase in new vehicle sales in 2024. Forecasts from various automotive data firms suggest a year-over-year growth ranging from 1% to 4%, leading to an estimated total of 15.6 million to 16.1
0 Comments
In the midst of dropping interest rates, mortgage demand has surprisingly fallen in the last week, as reported by the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages also decreased, reaching its lowest level since June 2023. However, the response from borrowers has been lackluster, with applications to
0 Comments
In a disappointing turn of events, FedEx shares plunged more than 9% in after-hours trading on Tuesday. This steep decline came after the renowned package delivery giant revised its revenue forecast due to a significant decrease in demand, ultimately impacting its sales. Previously anticipating flat sales year over year, FedEx now expects a low-single-digit decline
0 Comments
General Motors’ Cruise has recently faced a series of setbacks, including layoffs and safety concerns, which have put the future of the robotaxi startup in question. This article will analyze the current state of Cruise and its implications for the company’s future prospects. Cruise announced internally that it will lay off 900 employees, constituting 24%
0 Comments
Etsy, the renowned e-commerce platform known for its handmade items and connections with local artisans, is facing significant challenges as it navigates a “very challenging” macro and competitive environment. In response to these difficulties, the company has made the difficult decision to lay off approximately 11% of its workforce, amounting to around 225 employees, during
0 Comments