Financial technology firm Klarna has made significant strides in the banking industry with the launch of new products aimed at disrupting retail banking and incentivizing customers to use its platform for both spending and saving. This move marks a shift from its traditional buy now, pay later model to a more comprehensive banking approach. The
Alibaba, the Chinese e-commerce giant, struggled to meet both revenue and net income expectations in the June quarter of 2024. The company reported revenue of 243.24 billion Chinese yuan, falling short of the expected 249.05 billion yuan. Similarly, net income came in at 24.27 billion yuan, below the anticipated 26.91 billion yuan. This disappointing performance
Walmart, as the nation’s largest retailer, is set to report its quarterly earnings on Thursday. This report is highly anticipated by investors and economists alike, as it will provide valuable insights into the health of American households and the broader economy. With analysts expecting earnings per share of 65 cents and revenue of $168.53 billion,
Starbucks recently announced that incoming CEO and Chair, Brian Niccol, will be receiving a substantial pay increase and one-time awards as he transitions from his previous role at Chipotle Mexican Grill. In his new position at Starbucks, Niccol will be responsible for revitalizing the company’s declining sales, enhancing customer experience, and determining the future of
Alaska Airlines flight attendants have made the bold decision to reject a new labor deal that would have provided substantial raises. The proposed deal included an immediate average raise of over 24%, with additional benefits such as boarding pay and back pay. This rejection has set the stage for further negotiations between the union and
Former President Donald Trump has recently proposed a bold idea for Social Security reform: ending taxes on benefit income. While this proposal may seem appealing to seniors who rely on these benefits, there are several critical issues that need to be addressed. Rep. John Larson, D-Conn., pointed out a significant flaw in Trump’s plan: the
The U.S. has experienced a construction boom that has had a significant impact on rental markets across the country. As a result of record-construction activity since the pandemic, the supply of empty units has increased, leading to more apartment inventory being available for renters. Multifamily units completion reached a peak in June, surpassing any other
As investors grapple with economic uncertainty, financial advisors are providing guidelines on the appropriate amount of cash that should be set aside for emergencies. Despite the second-quarter economic growth, a significant number of Americans still believe that the U.S. is in a recession. The opinions are divided, with some experts projecting a recession while others
Norway’s Government Pension Fund Global recently announced a first-half profit of a staggering 1.48 trillion kroner, largely attributed to the robust returns on its investments in technology stocks. With a total value of 17.75 trillion kroner at the end of June, the fund’s overall return for the six-month period was 8.6%, slightly lower than its
UBS CEO Sergio Ermotti recently discussed his views on the potential for increased market volatility in the second half of the year. While addressing concerns about a possible recession in the U.S., he expressed his belief that a slowdown is more likely than a full-blown recession. Ermotti highlighted the impact of weak economic data from