Japanese household spending took a hit in May, as government data revealed an unexpected 1.8% contraction compared to the same period last year. This decline was significantly lower than the market forecast, which had predicted a 0.1% increase. The rise in food prices played a significant role in dampening consumer spending on other items, highlighting
potential
Private equity investment in women’s soccer is changing the landscape of the game, providing a new avenue for growth and development. While other major U.S. sports leagues have allowed private equity investors to take passive, minority stakes, the National Women’s Soccer League (NWSL) is leading the way by allowing these firms to take majority control
The performance of hedge funds in the first half of the year has been a mixed bag. While some multi-strategy and systematic funds have seen significant gains, macro funds like Caxton Associates and Brevan Howard have faced challenges. Andrew Law’s Caxton Associates, which focuses on macro economics, finished last month flat after a 4% gain
The recent $2.65 billion deal between Saks Fifth Avenue parent HBC and department store chain Neiman Marcus is a strategic move to boost their negotiating power with vendors and enhance their ability to control costs. In the midst of a luxury retail market grappling with slowing demand due to high interest rates and inflation, this
The recent release of weak U.S. economic data has had a significant impact on the foreign exchange markets. Both the pound and the euro saw gains against the dollar following this news. Sterling managed to edge up to $1.2757, while the euro reached $1.0801. The dollar’s decline was sparked by softer-than-expected U.S. economic data, including
Recently, the European Union has decided to increase tariffs on electric vehicles imported from China. This decision comes after the European Commission conducted an investigation that revealed producers of battery EVs in China were benefiting from “unfair” subsidization. The tariffs, ranging from 17.4% to 37.6%, are set to take effect on Friday, affecting automakers like
China is currently in discussions with the European Union regarding the planned tariffs on imported Chinese electric cars. The European Commission has warned that if an agreement is not reached, additional duties will be imposed on Chinese EVs starting July 4th, with definitive measures taking effect a few months later. The Ministry of Commerce in
The recent increase in first-time applications for U.S. unemployment benefits and the rise in the number of people on jobless rolls towards the end of June have pointed towards a gradual cooling in the labor market. This ebbing labor market momentum, coupled with abating inflation pressures, has put the Federal Reserve on track to potentially
In midday trading, media and entertainment stock Paramount Global saw a significant increase of over 9% after news broke that Skydance Media has reached a preliminary merger deal with controlling shareholder National Amusements. CNBC reported that Paramount Global’s special committee is currently reviewing and voting on the agreement. This positive development has undoubtedly captured the
General Motors has been hit with a significant penalty of $145.8 million following a government investigation that found excess emissions from approximately 5.9 million GM vehicles. This penalty comes as a result of vehicles from the 2012-2018 model years emitting more carbon dioxide than originally reported. The Environmental Protection Agency (EPA) found that these vehicles
According to NRG, Screen Engine, and other three-week-in-advance box office tracking services, the highly anticipated Disney/Marvel Studios film, Deadpool & Wolverine, is poised to have a domestic box office opening in the range of $160 million-$165 million. This figure would not only make it the best opening of the year so far but also set
General Motors recently reported its best quarterly sales performance in over three years, showcasing significant growth in various segments. The Detroit automaker’s second-quarter sales reached 696,086 units, marking a 0.6% increase from the previous year and the highest number of units sold since the fourth quarter of 2020. Notably, the sales of General Motors’ all-electric
The U.S. stock market is facing a downward trend with futures pointing lower on Tuesday. This comes after a previous session where the main indices on Wall Street experienced a slight rise in light pre-holiday trading. The Dow futures contract has dropped by 0.3%, S&P 500 futures by 0.3%, and Nasdaq 100 futures by 0.4%.
European stock markets experienced a slight decline on Tuesday as investors waited for the latest inflation data from the region. The DAX index in Germany was down by 0.6%, the CAC 40 in France fell by 0.6%, and the FTSE 100 in the U.K. dropped by 0.4%. The upcoming June inflation data release is expected