New 25% tariffs on Indian goods, imposed by President Trump, are forcing Los Angeles area businesses reliant on Indian imports to raise prices. Owners of Indian grocery stores and other businesses in Artesia's Little India and other areas express concern about the impact on their bottom lines and customer...
Berkshire Hathaway reported a 4% year-over-year dip in Q2 operating profit to $11.16 billion, primarily due to lower insurance underwriting profits. The company warned of potential negative impacts from US tariffs, citing considerable uncertainty regarding their ultimate consequences on its businesses and investments. Buffett's cash hoard remains near...
Figma's successful IPO, valued at nearly $68 billion, is being celebrated by former FTC chair Lina Khan as a victory against Big Tech mergers. Khan's efforts to block major tech acquisitions, including Adobe's proposed purchase of Figma, are seen as contributing to Figma's independent growth. While some credit Figma's...
Moderna lowered its 2025 revenue outlook due to a delayed UK vaccine shipment, but exceeded Q2 expectations. Revenue is now projected between $1.5 billion and $2.2 billion. The company also announced a 10% workforce reduction amidst falling Covid vaccine sales. Despite a 41% year-over-year revenue drop to...
Nintendo's first-quarter (FY2025) results show strong Switch 2 sales: 5.82 million units and 8.67 million software units sold. The Switch 2 had a record-breaking launch, exceeding 3.5 million units in its first four days. Switch 1 sales also remained healthy at 0.98 million units. Overall sales reached...
Figma's IPO surged over 250%, closing at over $117 per share, raising over $1.2 billion. This surpasses the projected range and makes CEO Dylan Field a billionaire. The company's market value now exceeds Adobe's prior acquisition offer, which was blocked by regulators. The IPO also saw significant...
Apple exceeded expectations in its third-quarter earnings report, announcing record revenue of $94 billion, surpassing estimates by $4.7 billion. iPhone sales also outperformed predictions at $44.58 billion. This positive news sent Apple's stock price up 2% in after-hours trading, offering a much-needed boost after a year-to-date decline of...
Amazon exceeded second-quarter earnings expectations, reporting $167.7 billion in net sales, surpassing analyst predictions of $162 billion. However, the projected third-quarter operating income of $15.5 billion to $20.5 billion fell short of analyst estimates, causing a 2.9% drop in after-hours share price. While third-quarter sales also exceeded expectations,...
UnitedHealth Group (UHG), America's largest healthcare company, reported disastrous financial results for the second consecutive quarter, revealing deep-seated organizational problems. Following the April murder of an executive and the subsequent resignation of CEO Andrew Witty, the company faces Department of Justice investigations into potential Medicare fraud. The stock...
A major air traffic control system failure by NATS grounded hundreds of flights across the UK on Wednesday, causing widespread disruption and cancellations. Airlines, including EasyJet and Ryanair, are demanding answers and accountability from NATS, with Ryanair even calling for the CEO's resignation. The outage, described as radar-related, lasted...
