The housing market has been experiencing significant fluctuations due to the sudden increase in mortgage rates. On Monday, the average rate on the popular 30-year fixed mortgage climbed to 7.04%, reaching its highest level since December, according to Mortgage News Daily. This surge in rates followed a sharp jump triggered by the unexpectedly strong January
Business
McDonald’s, the fast-food giant, has managed to outperform its rivals in recent quarters, thanks to price hikes across its menu and an influx of higher-income customers. However, the company faced a decline in U.S. traffic during the third quarter, as low-income diners reduced their visits. As McDonald’s prepares to announce its fourth-quarter results, analysts are
In a bid to capture a larger share of the global luxury watch market, luxury giant LVMH has established a new watch division and introduced a range of higher-priced models. The luxury watch market is predicted to reach $37 billion by 2032, driven by increasing global wealth and a growing interest in high-end mechanical watches
The fourth quarter of 2023 has turned out to be a pleasant surprise, surpassing all expectations in terms of corporate profits. Despite concerns surrounding macroeconomic conditions and their impact on consumer sentiment, this earnings season has seen companies perform exceptionally well. Various factors such as reduced expectations, effective cost controls, and lower input costs have
Amer Sports, the Finnish athletic company known for its popular brands such as the Wilson tennis racket and Arc’teryx, had a less than stellar debut on the public markets. The company’s shares rose by a mere 3% after its initial public offering (IPO) was priced at a discount. Amer Sports had originally planned to offer
Byron Allen, the renowned media mogul, is making headlines with his audacious $14 billion offer to acquire Paramount Global. Despite skepticism surrounding his deal-making abilities, Allen confidently asserts that he possesses the necessary funds to finance the deal. However, the ultimate challenge lies in securing regulatory approval from the Federal Communications Commission (FCC). This article
Starbucks, the renowned coffee giant, recently released its quarterly earnings and revenue report, which failed to meet Wall Street’s expectations. Despite previous success, both domestic and international sales fell short of estimates, causing the company to lower its full-year revenue outlook. The CEO, Laxman Narasimhan, attributed these disappointments to several factors, including a boycott in
FanDuel, a subsidiary of Flutter Entertainment, has made its debut on the New York Stock Exchange, presenting American investors with an alternative to the dominant player in the sports betting market, DraftKings. While Flutter retains its primary listing on the London Stock Exchange and its inclusion in the FTSE 100 index, the company recognizes that
The world of children’s entertainment has transformed dramatically in recent years, and much of this change can be attributed to the rise of streaming platforms. Gone are the days when kids had limited options on traditional TV channels. Streaming has opened up a vast array of choices for both parents and children, allowing them to
The CEOs of Merck and Johnson & Johnson have voluntarily agreed to testify at an upcoming Senate hearing on high drug prices in the U.S. This comes as lawmakers are increasing their efforts to rein in healthcare costs for Americans. The hearing is scheduled for February 8th, and the panel had initially planned to subpoena