The U.S. GDP expanded by 1.5 percent across April, May, and June, falling far short of the first quarter’s 2.1-percent growth and missing analysts’ expectations in a Bloomberg survey of a 2-percent bump.
Author: admin
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GOING OUT OF BUSINESS TRENDS
The economic slowdown continues to leave its mark on Main Street and corporate America alike.
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
The layoff machine keeps rolling from banking and technology to healthcare, media, automotive manufacturing, education, and local government as companies slash costs, automate operations, and brace for an increasingly uncertain future.
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SPOTLIGHT: BIGS GETTING BIGGER
U.S. private equity giant Blackstone is buying HSBC bank’s Australian portfolio of home and personal loans.
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HERMÈS SHARE PRICE DROPS DESPITE POSITIVE SECOND QUARTER
The share price of luxury firm Hermès plopped down 10 percent on 28 July even though the company reported a modest rebound in sales during this year’s second quarter.
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SHELL OIL REPORTS SECOND-BEST QUARTER EVER
British energy giant Shell Oil posted $9.8 billion in adjusted earnings in the second quarter, beating analysts’ forecast of $8.9 billion and more than doubling the $4.3 billion from a year earlier.
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MERCEDES TRIMS 2026 REVENUE FORECAST
Mercedes-Benz lowered its 2026 revenue forecast last week, saying revenues would come in “slightly” below last year’s figure of €132.2 billion. Earlier, the company had forecasted this year’s revenue would be about the same as last.
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CHINESE STUDENTS FLOCK TO PUBLIC-SECTOR JOBS
Despite China’s world-class tech economy, more high-school graduates are choosing to pursue careers in the military, police, or other public service agencies.
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EUROZONE SQUEEZES OUT 0.4-PERCENT SECOND-QUARTER GROWTH
In this year’s second quarter, the economy of the 21-member Eurozone eked out 0.4-percent growth despite the Iran War’s energy price shock.
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RUBIO SAYS THERE HAS BEEN PROGRESS IN TALKS WITH IRAN, SENDING OIL PRICES LOWER
Marco Rubio, the secretary of state, told reporters on Tuesday that there has been progress in negotiations between the U.S. and Iran to reopen the Strait of Hormuz, but said the deal has not been finalized.