Hong Kong’s retail sector continues to struggle, with sales dropping for the fourth consecutive month in June. The latest figures show a 9.7% year-on-year decline, highlighting the ongoing challenges facing the industry. While the rate …
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PayPal Raises Profit Forecast Again, Fueled by Resilient Spending and Cost Cuts
PayPal has boosted its full-year profit forecast for the second time this year, indicating confidence in consumer spending and the effectiveness of its cost-cutting initiatives. The company’s stock price jumped 4% in pre-market trading following …
Continue readingUS Economy on Track for Soft Landing, Rate Cuts Imminent: UBS
UBS analysts remain confident in a soft landing for the US economy, with inflation cooling down and the Federal Reserve poised to cut interest rates. The investment bank predicts a near-100% chance of a rate …
Continue readingDomino’s Pizza Reports Sales Miss Due to Inflationary Pressures
Domino’s Pizza, the world’s largest pizza chain, reported a miss in quarterly same-store sales estimates. This shortfall can be attributed to inflationary pressures, which have discouraged consumers, particularly those with lower incomes, from eating out …
Continue readingJapan’s Trade Growth Stalls in June as Global Demand Weakens
Japan’s exports and imports grew at a slower pace than expected in June, signaling a slowdown in economic activity both domestically and in key export markets. Exports rose by 5.4% year-on-year, falling short of expectations …
Continue readingUS Retail Sales Steady in June, Signalling Consumer Resilience
The US economy received a boost in June as retail sales remained unchanged, indicating continued consumer spending despite ongoing economic uncertainties. This resilience was particularly encouraging given the decline in auto dealership sales, which was …
Continue readingBurberry Appoints New CEO to Revive Brand Amidst Struggles
British luxury brand Burberry has appointed former Coach and Michael Kors CEO Joshua Schulman as its new leader, aiming to revitalize the brand amidst a recent decline in sales and customer dissatisfaction. The company announced …
Continue readingChina’s Economy Stumbles in Q2, Raising Pressure for Stimulus
China’s economic growth slowed significantly in the second quarter of 2024, prompting concerns and increasing pressure for more stimulus measures. The world’s second-largest economy expanded by 4.7% in April-June, falling short of analyst expectations and …
Continue readingPepsiCo’s Q2 Revenue Misses Expectations as Price Hikes and Competition Bite
PepsiCo reported disappointing second-quarter results on Thursday, missing revenue expectations due to slowing sales of snacks and beverages, primarily in the United States. The company’s revenue came in at $22.50 billion, falling short of analysts’ …
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