Wall Street anticipates losses on Monday due to escalating tensions in the Russia-Ukraine conflict and increased oil prices following OPEC+'s output decision. Futures for major indices show declines. Oil prices surged, benefiting energy stocks. Steel stocks jumped after President Trump announced doubled tariffs on steel and aluminum...
Australian investment firms Washington H. Soul Pattinson (Soul Patts) and Brickworks announced a A$14 billion ($9 billion) merger, sending their shares soaring. Soul Patts shares rose 13.78%, while Brickworks jumped 22.32%. A new Sydney-listed company will acquire all outstanding shares, creating a $9 billion entity with diverse holdings. The...
The number of former employees returning to their old jobs (boomerang workers) is rising, especially in the information sector. This trend, revealed in ADP payroll data, is driven by a tougher job market and employers' preference for familiar, easily onboarded talent. Companies are prioritizing proven performers, while job...
Xpeng delivered 33,525 vehicles in May, a 230% year-on-year increase but a slight decrease from April. This brings its year-to-date deliveries to 162,578, a 293% increase. The company's May sales include strong performance from the X9 MPV (3,227 units, up 99% year-on-year) and the newly launched Mona M03...
JPMorgan Chase CEO Jamie Dimon warned about the US's deteriorating global standing, urging swift action on internal issues like regulation and infrastructure. He highlighted the need to address the "enemy within" to maintain economic and military preeminence, emphasizing the importance of engaging with China, rather than expecting submission. ...
UK steelmakers are calling US President Donald Trump's decision to double tariffs on steel and aluminum imports to 50% a major setback. The move, effective Wednesday, replaces a 25% tariff. While the UK secured a trade deal in May to exempt its steel, the details are still being...
The surging demand for AI and cloud computing fuels a data center boom, prompting states to offer lucrative incentives to attract these energy-intensive facilities. However, this competition is met with resistance from some lawmakers and communities concerned about land use, energy consumption, and the relatively low job creation. ...
Major US retailers, including Costco, Walmart, Target, and Nike, are raising prices or plan to do so to offset the impact of tariffs. These price increases affect various goods, from groceries and clothing to electronics and toys. While some companies explicitly cite tariffs, others attribute price hikes to...
Georgia's economy, a bellwether for the impact of Trump's tariffs, shows mixed results. The hospitality and wine industries face hardship due to tariff uncertainty and logistical bottlenecks, while others, like manufacturing, potentially benefit. Savannah's port remains busy, but anticipates decreased volume. The film industry is also impacted by...
Numerous US corporations have withdrawn their financial support from Pride events this year, creating significant budget shortfalls for LGBTQ+ organizations. This follows a shift in public opinion and actions by the Trump administration against LGBTQ+ rights. Pride organizers in cities like San Francisco, Kansas City, and New York...
