Garmin announced strong second-quarter earnings, exceeding revenue estimates and raising its full-year forecast. This positive performance was fueled by robust growth in the fitness and auto segments. Demand for wearables, particularly advanced cycling computers like …
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Kraft Heinz Cuts Sales Forecast Amid Softening Demand
Kraft Heinz, the maker of Heinz ketchup and other popular food brands, has slashed its full-year organic sales forecast. This comes as the company faces softening consumer demand following price increases implemented to combat inflation. …
Continue readingBitcoin Drops 5% as US Government Sale Fears Overshadow Trump’s Crypto Support
Bitcoin’s price plunged 4.8% on Tuesday, erasing a weekend rebound driven by Donald Trump’s positive remarks on crypto regulation. Reports emerged that the US government moved $2 billion worth of seized Bitcoin, sparking concern over …
Continue readingOPEC+ to Maintain Current Output Policy at August 1 Meeting
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, are unlikely to make any changes to their current production policy at the upcoming Joint Ministerial Monitoring Committee (JMMC) meeting on …
Continue readingPakistan’s Inflation Expected to Ease Further in August
Pakistan’s finance ministry anticipates inflation to ease further in August, following a predicted range of 12%-13% in July. This forecast comes after inflation peaked at over 30% in 2023, slowing to 12.6% in June. The …
Continue readingGold Prices Surge Near $2,400 on Rate Cut Bets
Gold prices rallied in Asian trading on Monday, pushing towards the $2,400 mark as investors bet on potential interest rate cuts by the Federal Reserve. The precious metal has been gaining traction after encouraging inflation …
Continue readingOccidental Petroleum Sells Delaware Basin Assets for $818 Million to Reduce Debt
Occidental Petroleum (OXY) has announced the sale of certain Delaware Basin assets in Texas and New Mexico to Permian Resources for approximately $818 million. This move is part of Occidental’s strategy to reduce its debt, …
Continue readingTesco to Repurchase Shares Worth $515 Million in Second Tranche of Buyback Program
Tesco, Britain’s largest supermarket group, announced on Monday that it would continue its share buyback program with a second tranche of repurchases worth up to £400 million (approximately $515 million). The previous tranche, which bought …
Continue readingBNP Paribas Aims to Become a ‘Usual Suspect’ in UK Investment Banking
BNP Paribas is making a bold move to become a major player in the UK’s competitive investment banking market. The French bank is aiming for “usual suspect” status, meaning it wants to be a go-to …
Continue readingTrump’s Return Could Boost US Rail Stocks: Wells Fargo
Wells Fargo analysts believe a potential return of former President Donald Trump to the White House could significantly benefit US rail stocks. The bank highlights that Trump’s economic and trade policies, which previously fueled transportation …
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