The latest data on U.S. manufacturing in August 2022 paints a grim picture of the state of the economy. According to various manufacturing gauges, U.S. factories remained in slowdown mode during the month. The Institute for Supply Management (ISM) reported that only 47.2% of purchasing managers indicated expansion in August, falling below the 50% breakeven
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Recently, a panel of Brazil’s federal supreme court justices made a unanimous decision to uphold orders suspending the use of Elon Musk’s social network, X, nationwide. This decision came after the court’s top justice, Alexandre de Moraes, issued controversial suspension orders late Friday. The court had warned Musk and X to appoint a legal representative
In a recent interview on CNN’s “State of the Union,” former Democratic Rep. Tulsi Gabbard advised Republican former President Donald Trump to focus on Vice President Kamala Harris’ policy pivots in their upcoming debate. Gabbard highlighted that Harris has been attempting to distance herself from her previous positions, making it a crucial point of attack
Netflix hit a record high in August, with shares breaking above the $700 mark and reaching an intraday record of $711.33. Despite pulling back slightly, shares closed at $701.35 on Friday, marking a 44% increase year to date. This growth is particularly impressive given the intensifying competition in the streaming sector and a slowdown in
Salesforce, the business software giant, exceeded expectations in its fiscal second-quarter results. The company reported an increase in earnings per share, with $2.56 adjusted compared to the expected $2.36. Moreover, Salesforce’s revenue of $9.33 billion surpassed the estimated $9.23 billion, showcasing an 8% year-over-year growth. A notable development was the announcement of the departure of
Recent data shows that mortgage rates have fallen for the fourth straight week, with the average contract interest rate for 30-year fixed-rate mortgages decreasing to 6.44%. This marks a significant drop from rates a year ago, with rates being more than 80 basis points lower. Despite the decrease in mortgage rates, there seemed to be
Former President Donald Trump’s economic proposals have been analyzed to have a significant impact on federal deficits over the next decade. The nonpartisan Penn Wharton Budget Model conducted a study which revealed that Trump’s policies would result in an increase of $5.8 trillion in deficits. This is a substantial amount, almost five times more than
The recent merger between Amazon aggregators Branded and Heyday is set to shake up the e-commerce industry. The two companies will form a new entity called Essor, meaning “take flight” in French. This move symbolizes their shared vision of elevating brands to new heights through their platform. With an expected annual revenue of $400 million,
The announcement made by the Harris campaign regarding the $40 million raised following Vice President Kamala Harris’ speech at the Democratic National Convention is undoubtedly impressive. The fact that this brings the total amount raised for Harris’ election campaign to $540 million since President Joe Biden’s exit from the race is a significant milestone. These
Boeing will be bringing back its Starliner capsule from the International Space Station without the NASA astronauts it delivered to orbit in early June. This is a significant shift from their original plans, as NASA has now opted to have astronauts Butch Wilmore and Suni Williams return via SpaceX’s Dragon spacecraft instead. The decision to