Recent data from the National Association of Realtors revealed a significant 7.7% drop in signed sales contracts on existing homes in April, compared to the previous month. This decline marks the slowest pace since April 2020 and suggests a challenging market environment for buyers and sellers alike. Pending sales, which serve as a leading indicator
In a recent financial conference held in New York, Bank of America CEO Brian Moynihan shed light on the cautious approach adopted by both consumers and businesses when it comes to spending. He highlighted that there has been a noticeable slowdown in the rate of purchases made by households and small to medium-sized businesses. Consumer
In the midst of the ongoing tumultuous job market, data from Vanguard reveals interesting insights into the dynamics of hiring based on income levels. While the demand for higher-income workers has slightly decreased, lower-earning Americans continue to experience a robust pace of hiring. Workers in the bottom one-third income bracket, earning less than $55,000 annually,
Despite posting higher profits and lower costs, Best Buy missed Wall Street’s quarterly sales expectations. The retailer’s revenue for the full year is expected to decrease, with comparable sales ranging from flat to a 3% decline. CEO Corie Barry acknowledged that the company is facing challenges such as inflation, high mortgage rates, and the lingering
Boeing CEO Dave Calhoun and other top company leaders are set to meet with the Federal Aviation Administration (FAA) to present a quality improvement plan. This plan is aimed at demonstrating enhanced staff training and production practices at Boeing factories. The meeting comes after a concerning incident earlier this year involving a new 737 Max
Kohl’s, a well-known retail brand, faced a major setback in its fiscal first quarter, with shares plummeting over 20% in premarket trading. The company reported a surprising loss per share of 24 cents, a stark contrast to the 4 cents profit that Wall Street analysts were expecting. Additionally, the revenue came in at $3.18 billion,
McDonald’s has been a staple in the fast-food industry for decades, known for its iconic menu items and affordable prices. However, recent claims have surfaced suggesting that the company has significantly raised its prices. Joe Erlinger, president of McDonald’s USA, debunked these claims by stating that the average price of menu items has increased by
The closure of the Delaware College of Art and Design (DCAD) was announced recently due to low enrollment numbers. Despite efforts to find additional funding, the institution was unable to overcome the challenges related to declining enrollment and rising costs. The president of DCAD, Jean Dahlgren, highlighted the issues faced by the college, including a
Stellantis, the multinational automotive company formed by the merger of Fiat Chrysler Automobiles and PSA Group, is gearing up to introduce a $25,000 all-electric Jeep vehicle in the U.S. to appeal to a wider audience. This move comes as a response to the slower-than-expected adoption of electric vehicles in the country, aiming to make electric
A recent study conducted by the Schwartz Center for Economic Policy Analysis sheds light on the financial struggles faced by older Americans with unpaid student loan debt. The research, which analyzed data from over 2.2 million individuals aged 55 and over, revealed that a significant number of older workers are burdened by student loan balances