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Economy

“Annual inflation rate slows to 2.9% in July, lowest since 2021”

“The consumer price index, a broad-based measure of prices for goods and services, increased 0.2% for the month, putting the 12-month inflation rate at 2.9%, its lowest since March 2021. Excluding food and energy, core CPI came in at a… Continue Reading…

Stocks

“Roblox shares drop 22% as company cuts annual bookings forecast on muted player spending”

“…Roblox now expects full-year bookings to be between $4 billion and $4.10 billion, down from its earlier forecast of $4.14 billion to $4.28 billion. Its second-quarter bookings forecast of $870 million to $900 million was also below estimates…” https://www.cnbc.com/2024/05/09/roblox-shares-drop-nearly-30percent-as-company-cuts-annual-bookings-forecast-on-muted-player-spending.html

Economy

“US economic growth for last quarter is revised up slightly to a healthy 3.4% annual rate”

“…The U.S. economy grew at a solid 3.4% annual pace from October through December, the government said Thursday in an upgrade from its previous estimate. The government had previously estimated that the economy expanded at a 3.2% rate last quarter…”… Continue Reading…

Stocks

“Chinese EV maker BYD targets 20% jump in annual sales – sources”

“Chinese electric vehicle maker BYD has set a 3.6- million-unit sales target for 2024, a jump of 20% from its record-breaking sales last year, according to three people who were familiar with the matter… The company’s Hong Kong shares sank… Continue Reading…

Stocks

“BP earns $3 billion at the end of last year but saw its annual profit fall by half from 2022”

“Oil and natural gas giant BP beat expectations on Tuesday with earnings of $3 billion in the last three months of 2023, bringing last year’s total to half its record 2022 profit as energy prices have fallen since spiking after Russia’s invasion… Continue Reading…

Economy

“U.S. GDP grew at a 4.9% annual pace in the third quarter, better than expected”

“…Gross domestic product, a measure of all goods and services produced in the U.S., rose at a 4.9% annualized pace in the July-through-September period, up from an unrevised 2.1% pace in the second quarter, the Commerce Department reported Thursday.. Economists surveyed by… Continue Reading…

Economy

“Key Fed inflation rate falls to lowest annual rate in nearly 2 years”

“Inflation showed further signs of cooling in June, according to a gauge released Friday that the Federal Reserve follows closely. The personal consumption expenditures price index excluding food and energy increased just 0.2% from the previous month, in line with… Continue Reading…

Economy

“US economic growth last quarter is revised up sharply to a 2% annual rate”

“Showing surprising resilience in the face of higher interest rates, the U.S. economy grew at a 2% annual pace from January through March as consumers spent at the fastest pace in nearly two years… Despite the uptick, the government’s third… Continue Reading…

Banking

“‘I am truly sorry’: Credit Suisse chair pleads with angry shareholders at annual meeting”

“Credit Suisse Chairman Axel Lehmann on Tuesday told shareholders he was “truly sorry” for the collapse that led to the bank’s controversial takeover by UBS… A police presence was established early Tuesday at the venue, as protesters and shareholders began… Continue Reading…

Business, Stocks

“Rolls-Royce shares soar by 23% after annual results crush expectations”

“Shares of London-listed aviation manufacturer Rolls-Royce soared Thursday, after the company sharply beat expectations with a 57% year-on-year increase in underlying profit, driven by its civil aerospace and power systems. Its stock was up by 23% at roughly 1:30 p.m.… Continue Reading…