Business

Sea Limited Shares Surge 9% as Revenue Climbs 48% and Shopee Outlook Strengthens

Sea Limited shares rose about 9% after quarterly revenue climbed 48% and the company delivered a stronger outlook for its Shopee e-commerce business.

US Existing Home Sales Fall 1.7% in July as Record Prices Deter Buyers

US existing home sales dropped 1.7% in July as record prices and the highest mortgage rates in a year kept many prospective buyers out of the market.

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.

Woman Loses Life Savings in Real Estate Wire Fraud, Recovers Funds After Six Months

Rana Robillard, after a yearlong search, was thrilled to secure a home in Orinda, California. In late January, her mortgage broker emailed instructions to...

European and Global Markets Overview: Leftist Gains in France and Fed Rate Cut Speculation

A look ahead in European and global markets reveals significant developments from the French elections and anticipation of Federal Reserve actions. Initial concerns over...

Samsung Electronics Workers Strike for Better Pay and Conditions

Samsung Electronics workers have initiated a three-day strike demanding better pay, additional annual leave, and changes to the employee bonus system. The National Samsung...

Skydance Media and Paramount Global Merge in $8.4 Billion Deal

Skydance Media and Paramount Global have announced a merger, marking a significant shift for one of Hollywood's oldest studios. The two-step process involves Skydance...

Boeing Pleads Guilty to Criminal Fraud, Agrees to $243.6 Million Fine

Boeing has agreed to plead guilty to a criminal fraud conspiracy charge and pay a fine of $243.6 million, resolving a U.S. Justice Department...

Semiconductor Industry Faces Talent Shortage Amid CHIPS Act Funding Boost

The semiconductor industry is intensifying its recruitment efforts in a tight labor market as funding from the CHIPS and Science Act boosts domestic production....

Global Equity Markets Hit Record Highs Amid U.S. Rate Cut Optimism

World equity markets touched fresh record highs, driven by optimism about a potential U.S. rate cut and key jobs numbers expected later on Friday....

Foxconn Reports Strong Q2 Revenue Growth Driven by AI Server Demand

Taiwan's Foxconn, the world's largest contract electronics manufacturer and Apple's primary iPhone assembler, reported better-than-expected quarterly revenue, driven by high demand for AI servers....

Bitcoin Faces Largest Weekly Decline in Over a Year Amid Market Concerns

Bitcoin was set for its biggest weekly fall in over a year on Friday as traders worried about potential token dumping from the defunct...

Australian Federal Court Rules Against PayPal’s Unfair Contract Terms with Small Businesses

Australia's Federal Court has ruled that PayPal's local unit included an unfair term in its standard contracts with small business customers, as reported by...

Glencore’s $6.93 Billion Acquisition of Teck Resources’ Coal Unit Approved with Conditions

The Canadian government has approved Glencore's $6.93 billion acquisition of Teck Resources' steelmaking coal unit, with stringent conditions to preserve jobs and maintain Canadian...

U.S. Job Growth Slows in June: Implications for Inflation and Fed Policy

U.S. job growth likely slowed to a healthy pace in June, with the unemployment rate holding steady at 4%. This scenario increases the chances...

AI Adoption in Drive-Thru Restaurants: Potential and Challenges

Restaurants are increasingly looking to artificial intelligence to lower labor costs, particularly in drive-thru operations. According to a survey by the National Restaurant Association,...

New Champion Emerges at Nathan’s Hot Dog Eating Contest

A new champion has emerged in the world of competitive eating. Patrick Bertoletti triumphed at Nathan’s Hot Dog Eating Contest, held annually on July...

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