Federal job cuts continue as President Donald Trump and his Department of Government Efficiency head Elon Musk slash government waste.
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WALMART EXPECTS SLOWER GROWTH THIS YEAR
Walmart booked a 5.1-percent increase in sales last year, posting $681 billion in revenue, more than other companies in the world.
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U.S. HOUSING STARTS TUMBLE IN JANUARY
New single-family home construction in the U.S. slumped 8.4 percent in January, year on year, dropping for the first time since October. Multifamily starts were down by 13.5 percent, according to commerce department data. The pullback followed a 16-percent surge in home starts in December, leading some economists to believe that some construction was advanced......
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EXISTING HOME SALES FALL AS PRICES SET A NEW JANUARY RECORD
In January, sales of existing U.S. homes fell 4.9 percent below December’s number, the National Association of Realtors (NAR) reported. The drop was almost twice the 2.6-percent decline analysts had expected.
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CONSUMER SENTIMENT TANKS IN NEW SURVEY
Consumers have taken an increasingly dark view of the U.S. economy and its future, the newest monthly University of Michigan survey of consumer sentiment has found.
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DELINQUENT LOANS ON THE RISE AMONG U.S. BUSINESSES
The share of U.S. business loans falling behind in their payments is the highest since 2017 and could rise even higher as the impact of Donald Trump’s trade war begins to bite, the Financial Times reported.
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EQUITY INVESTORS ARE TURNING BEARISH
In the week ending 12 February, 47.3 percent of individuals invested in the U.S. stock market expect share prices to fall during the next six months, the most since November 2023, a survey by the American Association of Individual Investors found.
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DOES WARREN BUFFET HOARDING CASH SIGNAL MARKET CRASH?
Berkshire Hathaway, Warren Buffet’s investment firm, reported more than $300 billion in cash and treasury securities in 2024’s third quarter, a record amount as well as a record percentage of the company’s assets, The Wall Street Journal reported.
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SELF-SUFFICIENCY: WHO NEEDS HOLLYWOOD? CHINESE ANIMATED FILM SMASHES RECORDS
China has managed to kill two birds with one stone.
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CELEBRITIES’ PARTIED WITH TAXPAYER COVID RELIEF GRANTS THAT THEY WILL LIKELY NEVER HAVE TO PAY BACK
So-called celebrities who pulled in over $216 million in COVID-19 relief grants from the federal government will likely never have to pay the money back, leading one senator to admit that the “more we learn, the more it is clear that taxpayers footed the bill for the extravagant lifestyles of the rich and famous.”