Business

Barclays Downgrades Gap and Under Armour in U.S. Apparel Retailer Reshuffle

Barclays cut its ratings on Gap and Under Armour in a reshuffle of U.S. apparel retailers, citing limited upside amid uneven consumer demand.

Oil Climbs as Hopes for Imminent Strait of Hormuz Deal Fade

Crude climbs above $84 in the U.S. and past $89 internationally as hopes for an imminent Strait of Hormuz reopening deal collapse into deadlock.

Hims & Hers Shares Slide as Weight-Loss Expansion Squeezes Margins Despite Revenue Beat

Hims & Hers stock fell after beating revenue estimates but posting a loss, as its costly expansion into weight-loss treatments pressured margins.

On Holding Cuts Sales Outlook as Consumer Demand Weakens, Shares Slide

On Holding shares slid after the Federer-backed sportswear maker cut its annual sales outlook and missed quarterly revenue estimates on weaker consumer dem

Reserve Bank of Australia Holds Cash Rate at 4.35%, Warns Further Hikes Remain Possible

The Reserve Bank of Australia held the cash rate at 4.35% but warned further hikes remain "quite possible" even as house prices continue to fall.

Amazon Shares Plummet Over 12% Amid Slowdown in Online Sales Growth

Shares of Amazon.com (AMZN.O) dropped more than 12% on Friday after the company reported a deceleration in online sales growth for the second quarter...

SVB Financial Group Approved to Transfer Assets to Creditors and Conclude Bankruptcy

SVB Financial Group, the former owner of the now-defunct Silicon Valley Bank, received approval from a U.S. judge on Friday to transfer its remaining...

Hedge Funds Increase Bearish Bets Amid Concerns of U.S. Economic Slowdown

Global hedge funds have been increasingly adding bearish equity bets to their portfolios, driven by fresh data suggesting a faster-than-anticipated slowdown in the U.S....

Richmond Fed President Barkin Holds Firm on Monetary Policy Despite Weak Jobs Data

Richmond Federal Reserve President Thomas Barkin stated that he is not ready to alter his monetary policy outlook despite the unexpectedly weak U.S. jobs...

U.S. Justice Department Sues TikTok Over Children’s Privacy Violations

The U.S. Justice Department filed a lawsuit on Friday against TikTok and its parent company ByteDance for failing to protect children's privacy on the...

U.S. Unemployment Rate Rises to Near Three-Year High, Sparking Recession Fears

The U.S. unemployment rate jumped to 4.3% in July, reaching its highest level in nearly three years and fueling concerns about a potential recession....

U.S. Stocks Decline Amid Recession Fears and Weak Jobs Report

U.S. stocks experienced a significant sell-off for the second straight session on Friday, as the Nasdaq Composite entered correction territory. The downturn was triggered...

Eli Lilly’s Zepbound Shows Promise in Treating Heart Failure with Obesity

Eli Lilly’s weight loss drug Zepbound has shown significant benefits in patients with a common type of heart failure and obesity, according to late-stage...

Kohl’s Revitalizes Retail with Babies R Us Shops in Time for Fall

WOODLAND PARK, N.J. — Kohl’s is gearing up for a significant expansion by introducing Babies R Us shops within its stores nationwide, with plans...

Venu Streaming Service to Launch at $43 Per Month, Aimed at Cord-Nevers

This fall, Disney, Fox, and Warner Bros. Discovery are set to launch Venu, a new streaming service priced at $42.99 per month. This pricing...

New Funding Boosts USA Women’s Sports Ahead of 2024 Paris Olympics

The 2024 Paris Olympics are drawing substantial new investments for lesser-known sports and women’s teams, with the USA women’s rugby sevens, water polo, and...

DraftKings Introduces Surcharge on Winning Bets in High-Tax States

DraftKings, a leading mobile betting company, is set to introduce a surcharge on winning bets in states with high sports betting tax rates, aiming...

Jeff Bezos’ Latest Investment Focus: Artificial Intelligence

Jeff Bezos has been making waves with his extravagant purchases, such as a $165 million estate in Los Angeles and a $177 million property...

NASA Debates Returning Astronauts on Boeing’s Starliner Amid Safety Concerns

NASA management is currently in extensive discussions about whether to bring back astronauts Butch Wilmore and Suni Williams on Boeing’s Starliner capsule or use...

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