The US economy grew at a 3.0% annualized rate in Q2 2024, driven by strong consumer spending and a rebound in corporate profits, reflecting continued economic growth.
Industry
Boeing Reaches Deal With Union, Avoiding Potential Strike and Increasing Shares by 3%
Boeing's shares rose 3% in premarket trading after a tentative labor agreement with a Pacific Northwest union, which includes a 25% wage increase and a commitment to build future aircraft in Seattle, potentially averting a major strike.
Ford and Other Top Companies Pull Back From DEI Initiatives—Here's Why It's Bad for Business
Anti-DEI activism pushes major companies like Ford and Molson Coors to scale back their diversity efforts, risking brand reputation and investor confidence.
Volvo Joins GM and Ford in Dropping 'Ambitious' Electric Vehicle Sale Due to Tough EV Market
Volvo has revised its 2030 goal from exclusively electric vehicles to offering a mix of electric and plug-in hybrid models due to slower EV demand and new trade tariffs.
Goldman Sachs Predicts Strongest US Economic Growth if Harris Wins Presidency
A win for Kamala Harris and the Democrats would boost US economic growth and job opportunities for Americans, while a Trump victory could lead to reduced economic output due to higher tariffs and stricter policies, according to Goldman Sachs.
Latest News
US crude oil prices rose to $74.92 per barrel on Thursday, driven by supply disruptions in Libya and weak demand from China.
Eli Lilly is launching a lower-priced version of its weight loss drug Zepbound to increase access and combat counterfeit versions.
Oil prices are rising due to recent conflicts between Israel and Hezbollah, with fears of Iranian retaliation potentially disrupting global oil supplies and pushing Brent crude to $75-$85 per barrel in September.
A new Kansas City Fed conference study revealed that the Federal Reserve's aggressive rate hikes were essential in gaining public trust and controlling U.S. inflation over the past two years.
Nestlé has ousted Mark Schneider as CEO and replaced him with Laurent Freixe amid recent financial struggles and a drop in stock price. At the same time, analysts express optimism about the leadership change.
European and US share prices rose on August 22 following Federal Reserve signals of potential interest rate cuts, while the dollar remained weak and oil prices stabilized after a recent decline.
A Greek oil tanker, the Sounion, was set on fire and left drifting in the Red Sea after an attack by gunfire from small boats off Yemen, raising environmental and insurance concerns.
Canada's Alimentation Couche-Tard has made a $37.5 billion bid to acquire 7-Eleven, valuing 7-Eleven at twice its previous Tokyo listing.
As of August 19, gold prices have hit new highs, with spot gold at $2,508.14 per ounce and U.S. futures at $2,540.8 per ounce, amid rising expectations that prices could reach $3,000 by mid-2025.
