Discount home goods retailer Big Lots has recently filed for bankruptcy, citing high interest rates and a sluggish housing market as key factors contributing to its financial hardship. The company’s focus on low-priced furniture and decor has faced a decline in demand, leading to a decrease in revenue. Despite bringing in about $4.7 billion in
As the IRS continues to work on plans to avoid increased audits on taxpayers making less than $400,000, certain aspects of your tax return can still trigger scrutiny, according to experts. While the focus of the IRS enforcement efforts is on higher earners, large corporations, and complex partnerships, everyday taxpayers could still face audits if
Despite the economic turmoil over the past year, China’s property market continues to struggle and has not yet hit rock bottom, according to Standard Chartered CEO Bill Winters. Winters highlighted the challenging investing environment in China, pointing out that both consumer confidence and international investor confidence remain relatively low. The underlying cause of this lack
China recently reported that its consumer price index rose by 0.6% year on year in August. This figure missed expectations and was lower than the forecasted 0.7% increase. The rise in consumer prices was primarily driven by higher food prices, specifically a significant increase in pork and vegetable prices. However, other sectors such as transportation,
As September began on a rough note for the U.S. stock market, investors have been seeking guidance from top Wall Street analysts to navigate the volatile economic landscape. A current standout among recommended stocks is Planet Fitness (PLNT), a franchisor and operator of over 2,600 fitness centers. Despite the challenging environment, the company recently reported
Seven & i Holdings, the owner of 7-Eleven, has decided to reject a takeover offer from Canadian convenience store operator Alimentation Couche-Tard. The company stated that the offer was not in the best interest of its shareholders and stakeholders. The special committee formed by Seven & i to evaluate the proposal found it to be
Broadcom reported fiscal third-quarter results that surpassed Wall Street expectations for both revenue and earnings. The company reported earnings per share of $1.24, beating the expected $1.20, and revenue of $13.07 billion, higher than the anticipated $12.97 billion. Despite the positive results, Broadcom’s shares fell by 7% in extended trading after the company provided guidance
In a significant turn of events, Burberry Group, the iconic British luxury fashion house, has been removed from the prestigious U.K.’s FTSE 100 stock market index. This decision comes after a series of setbacks for the 168-year-old retailer, including declining sales and a string of management changes. The company’s relegation to the FTSE 250 marks
Boeing’s Starliner finally undocked from the International Space Station on Friday, after a lengthy delay. Originally scheduled to depart months earlier, the spacecraft left without the two astronauts it had delivered to orbit in early June. NASA test pilots Butch Wilmore and Suni Williams will remain at the ISS until February when they will return
Vice President Kamala Harris recently called for a higher capital gains tax rate, specifically proposing a 28% tax on long-term capital gains for households making more than $1 million annually. This marks a significant increase from the current rate of 20% for top earners. Harris justified this proposal by stating that it would “reward investment