Economic contracts by 0.1% in Q2

Economic contracts by 0.1% in Q2

Shoppers are walking in the rain on Oxford Street in London. Tolga Akmen / AFP / Getty Images The UK economy contracted in the second quarter of 2022 as the cost of living crisis hit the home. Official data released on Thursday showed that gross domestic product (GDP) contracted by 0.1% quarter on quarter in … Read more

Argentina raises interest rates by 950 basis points to 69.5%

Argentina raises interest rates by 950 basis points to 69.5%

A man walks past Argentina’s Central Bank on July 4, 2022 in Buenos Aires. Prices rose 7.4% in July, pushing annual inflation to a 20-year high of 71%. Tomasz Cuesta | Getty Images News | Getty Images Argentina’s central bank raised its benchmark interest rate by 950 basis points on Thursday as the country struggles … Read more

Here’s where the problems in the real estate market in China can spread

Here’s where the problems in the real estate market in China can spread

According to Moody’s, the Chinese real estate sector is responsible for more than a quarter of the country’s GDP. The photo shows a residential complex under construction on December 15, 2021 in the Guizhou Province. Cost photo | Future publications | Getty Images BEIJING – Chinese real estate problems could spread to other major sectors … Read more

Stock futures are flat on Thursday

Stock futures are flat on Thursday

Stock futures remained unchanged in overnight trading as the Dow Industrial Average and S&P 500 closed at a similar level after a short-term gain after another positive inflation report. Dow Jones-linked futures added 24 points or 0.07%, while the S&P 500 and Nasdaq 100 futures increased 0.1%. Rivian’s stock spun overnight after the electric vehicle … Read more

“Forget about the last three years”

“Forget about the last three years”

Eugene Zhang, founder of VC Silicon Valley TSVC Spencer Greene, general partner of TSVC Courtesy of TSVC Eugene Zhang, an experienced investor in Silicon Valley, remembers exactly the moment when the young startup market peaked this year. He said the flow of money from venture capital firms, hedge funds, and wealthy families flowing into seed-stage … Read more

The inflation argument calling for another decade to invest in technology

The inflation argument calling for another decade to invest in technology

TuSimple, partly owned by UPS, produces autonomous trucks, a technology that could be one of the innovations to help lower long-term inflation in the transportation sector. Source: TuSimple With inflation still flirting with 40-year highs, we know what the Fed is doing to fight back: raising interest rates. But what can companies do to fight … Read more

Producer Price Index July 2022: Wholesale Inflation Down 0.5%

Producer Price Index July 2022: Wholesale Inflation Down 0.5%

Wholesale prices fell for the first time in two years in July as falling energy prices slowed down inflation, the Bureau of Labor Statistics said on Thursday. The Producer Price Index, which measures prices received for end-demand products, has declined by 0.5% since June, the first month-on-month decline since April 2020, one month after the … Read more

Six Flags, Canada Goose, Warby Parker and more

Six Flags, Canada Goose, Warby Parker and more

Check out the companies that hit the headlines before the bell: Six Flags (SIX) – Shares of the amusement park operator fell 12.8% in the pre-sale market after its quarterly earnings and revenues were well below Wall Street’s forecasts. Among other things, Six Flags saw attendance drop by 22%. Canada Goose (GOOS) – The outerwear … Read more

Warby Parker (WRBY) reports losses in Q2 2022.

Warby Parker (WRBY) reports losses in Q2 2022.

A general view of the atmosphere at Warby Parker’s store at The Standard in Hollywood Michael Buckner | Warby Parker | Getty Images Warby Parker joined the ranks of retailers on Thursday that cut their financial forecasts for this year, despite posting a lower-than-expected loss in the second fiscal quarter and sales in line with … Read more

The Ethereum Goerli testnet fusion is launched before the proof-of-stake transition

The Ethereum Goerli testnet fusion is launched before the proof-of-stake transition

Ethereum is the second largest cryptocurrency in the world and gives Bitcoin a chance to get money. Getty Ethereum, the second-largest cryptocurrency by market value, has just carried out its final dress rehearsal for the years-long update that has been hailed as one of the most important events in the history of cryptocurrencies. Since its … Read more