Walgreens, a major retail pharmacy giant, faced a significant blow as its shares plummeted nearly 20% following the release of fiscal third-quarter earnings that failed to meet expectations. The company had to slash its full-year adjusted profit outlook due to the harsh business environment for pharmacies and U.S. consumers. Amidst these challenges, Walgreens CEO Tim
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The forecast for Chinese automakers to achieve 33% of the global automotive market share by 2030 highlights the rapid expansion expected to occur outside of their home country. This growth, which is projected to come from a forecast 21% market share this year, is anticipated to be largely driven by sales in markets outside of
The upcoming 2024 presidential debate between President Joe Biden and former President Donald Trump is expected to shed light on their stance regarding tax policy. One crucial issue that will likely be discussed is the expiration of Republicans’ tax breaks, which were implemented through the Tax Cuts and Jobs Act of 2017 (TCJA). Several provisions
H&M saw its shares plummet by more than 14% following the release of its second-quarter financial results. The company reported a smaller-than-expected increase in profits, causing concern among investors. Operating profit for the period fell short of analyst estimates, coming in at 7.1 billion Swedish kroner, compared to the anticipated 7.37 billion Swedish kroner. Despite
Cody Gude, a 35-year-old resident of Tampa, Florida, was eagerly anticipating his student loan payments dropping from $200 to $100 in July. This decrease in payment meant that he would no longer have to work extra hours delivering groceries on Instacart. However, his relief turned to disappointment when federal judges in Kansas and Missouri put
Southwest Airlines recently announced a 4% decrease in its shares during premarket trading, following a revision of its second-quarter revenue forecast. The airline cited changing booking patterns as the primary reason for the adjustment. Southwest now predicts a fall of 4% to 4.5% in revenue per available seat mile for the second quarter compared to
In a recent discussion at the World Economic Forum’s “Summer Davos” meeting in Dalian, China, Wan Gang, who played a crucial role in China’s electric car strategy, proposed an intriguing idea. He suggested that Chinese investment in the European electric vehicles industry could be a mutually beneficial way to navigate through the ongoing trade tensions
The housing market continues to face challenges as the summer season progresses. Despite hopes for a rebound following a lackluster spring, high home prices, and steady mortgage rates are preventing any significant improvement in market conditions. This is evident in the stagnant weekly mortgage demand, which has remained flat for the second consecutive week. The
The Biden administration recently announced its intention to impose inflation penalties on 64 prescription drugs for the third quarter of this year. This move is aimed at lowering costs for certain older Americans enrolled in Medicare and is part of President Joe Biden’s efforts to tackle the issue of high drug prices in the United
Morgan Stanley has recently made strides in incorporating artificial intelligence into its financial advisory services with the introduction of its new AI assistant named Debrief. This assistant is designed to streamline the work of the bank’s financial advisors by automating tasks that would typically take up thousands of hours of labor. Debrief keeps detailed records