Sony’s chief financial officer, Hiroki Totoki, made it clear on Wednesday that the company will not be making a fresh bid for film and TV production group Paramount Global. During Sony’s fiscal first-quarter earnings presentation, Totoki stated that an acquisition of Paramount does not align with their current strategy. He emphasized that acquiring Paramount would
Despite recent weaker-than-expected economic data, Claudia Sahm, chief economist at New Century Advisors, believes that the U.S. Federal Reserve does not need to resort to an emergency rate cut. In her opinion, the current circumstances do not warrant such drastic measures. Rather, Sahm suggests that a 50-basis-point cut may be more appropriate given the need
In the current market environment, where volatility has become the new norm, investors are looking for ways to protect and grow their wealth. Bonds have emerged as a popular choice for investors seeking stability and income in their portfolios. According to Joanna Gallegos, co-founder and CEO of BondBloxx, prioritizing income and high-yield bonds can be
The recent increase in the unemployment rate in July has caught the attention of many economists. However, what has truly alarmed experts is the rise in marginally attached workers within the labor force. These individuals are classified as those who are available and willing to work, but have not actively searched for employment in the
SunPower, once a leading rooftop solar installer, has now fallen into the depths of bankruptcy. The company’s stock plummeted by 32% to a mere 55 cents per share, marking a staggering 90% collapse this year. In a Chapter 11 protection filing, SunPower declared assets and liabilities ranging from $1 billion to $10 billion, painting a
Disney recently announced that starting mid-October, the prices for most plans on Disney+, Hulu, and ESPN+ will see an increase of $1 to $2 per month. The most significant price increase comes for the Hulu plans that include live TV, which will see a $6 bump in monthly fees. Disney+ basic and premium plans will
Uber has recently released its second-quarter earnings report, surpassing Wall Street estimates by a considerable margin. The company’s earnings per share came in at 47 cents, exceeding the expected 31 cents. Additionally, Uber reported a revenue of $10.7 billion, higher than the anticipated $10.57 billion. These results represent a 16% increase in revenue from the
Yum Brands recently reported a mixed quarter, with both Pizza Hut and KFC experiencing declining same-store sales. The CEO, David Gibbs, cited the impacts of the Middle East conflict and a more cost-conscious consumer as factors contributing to these challenges. Despite these headwinds, sales trends in the U.S. have shown improvement compared to the previous
India is poised to experience the fastest growth in ultra high net worth individuals globally in the coming years, as per a report by consultancy Knight Frank. Mumbai, the financial capital of India, has surpassed Beijing to become Asia’s leading billionaire hub. It currently ranks third globally in terms of billionaire count, trailing only behind
Saudi Aramco, the state oil giant, recently reported a net profit of $29.1 billion for the second quarter, which marks a slight decrease of just over 3% compared to the same period last year. The firm’s net income for the first half of the financial year was reported at $56.3 billion, down from $62 billion