Rite Aid Joins Growing List of Bankrupt Companies in 2023
The financial struggles faced by companies in 2023 continue to mount, with drugstore chain Rite Aid being the latest to file for bankruptcy. This adds to the alarming number of…
The Impact of Funflation on Consumer Spending
CEO Corie Barry of Best Buy recently addressed the decline in the company's sales. According to Barry, consumers are shifting their spending towards experiences rather than purchasing new televisions or…
Recent Inflation Slowdown: A Continual Trend
Chicago Fed President Austan Goolsbee has dismissed claims that progress toward reaching the Federal Reserve's 2% inflation target has slowed. In an interview with the Financial Times, Goolsbee emphasized that…
Existing-Home Sales Expected to Reach Decade-Low as Mortgage Rates Rise
The upcoming release of September's existing-home sales data is anticipated to reveal a significant drop in sales, reaching the lowest level in over ten years. This decline can be attributed…
Canadian Factory Sales Rise in August
Canadian factory sales experienced a second consecutive monthly increase in August, driven by higher oil prices and strong growth in the food sector. According to Statistics Canada, manufacturing shipments reached…
Oil futures hover above $90 a barrel amid Israel-Hamas war
Price action West Texas Intermediate crude for November delivery CL.1, -0.11% CLX23, -0.11% was up 2 cents at $87.71 a barrel on the New York Mercantile Exchange. December Brent crude…
Ford Recalls Over 230,000 Explorers Due to Safety Concerns
Ford Motor Co. is issuing a recall for a total of 238,364 Explorer vehicles, citing a potential safety issue with the rear axle horizontal mounting bolt. The company has found…
Pfizer Slashes Outlook for 2023 Amid Lower Covid-19 Revenue
Shares of Pfizer, the healthcare giant, fell 3.5% to $31.00 in after-hours trading as the company significantly reduced its outlook for the year. The revision is primarily driven by expectations…
European Stocks Close Lower; Stoxx Europe 600 Falls 0.98%
The European stock market ended the week on a downward note, with the Stoxx Europe 600 index dropping 0.98% to 449.18. Major European Indexes German DAX: The German DAX fell…
Earnings Season: Shift in Focus from Banks to Tech Giants
Introduction With the conclusion of Alcoa's (AA) earnings release, it's time for the spotlight to shift from banks to the tech giants as they gear up to announce their third-quarter…
Pfizer Receives FDA Approval for New Ulcerative Colitis Pill
Pfizer announced on Friday that the Food and Drug Administration (FDA) has granted approval for its latest ulcerative colitis medication, etrasimod, to be marketed under the name Velsipity. Expanding Product…
SunOpta Exits Frozen Fruit Business
SunOpta, a leading company in the food industry, has successfully sold its frozen fruit assets to Nature's Touch, a Canadian company based in Quebec. The deal, valued at $141 million,…
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