Macy’s recently reported its fiscal first-quarter earnings, beating Wall Street’s expectations in terms of earnings, although its revenue was roughly in line with expectations. The retailer aims to reflect the positive results of the first quarter by raising its full-year earnings expectations. However, the company remains cautious, assuming that customers will continue to be selective
Federal Reserve Governor Christopher Waller recently delivered remarks suggesting a cautious approach to interest rate policy given the current state of inflation. Waller noted that recent data indicates a slight easing of inflationary pressures, leading him to question the necessity of further interest rate hikes. Despite a generally hawkish stance on monetary policy, Waller emphasized
Lowe’s recent quarterly earnings report surpassed Wall Street’s expectations, despite a decrease in sales of pricier items. The company’s revenue and earnings per share exceeded analyst estimates, demonstrating a solid financial performance for the period. In comparison to Home Depot, Lowe’s experienced a more favorable financial outcome in terms of meeting revenue expectations. Home Depot,
China’s recent efforts to bolster its real estate sector have been met with mixed reviews from analysts. While the government has taken significant steps to stabilize the market, it is clear that results will not be immediate. S&P, for example, maintains its stance that the property market is still “searching for a bottom,” highlighting the
Scarlett Johansson recently made a statement claiming that OpenAI CEO Sam Altman used a voice similar to hers for the organization’s artificial intelligence voice software without her permission. This controversy arose after OpenAI launched its ChatGPT AI voice named “Sky,” which sounded eerily like Johansson’s voice from the movie “Her.” Johansson revealed that Altman had
Recent data from accountancy firm PwC has revealed that industries most likely to utilize artificial intelligence are experiencing a significant increase in productivity growth. In particular, professional and financial services, as well as information technology, have seen a remarkable 4.3% growth in workers’ productivity between 2018 and 2022. This is in stark contrast to the
Lionsgate has some big releases lined up for the fall season, much to the delight of movie enthusiasts. With two highly anticipated movies set to hit theaters in the coming months, there is plenty to look forward to for fans of action-packed and suspenseful films. The Killer’s Game One of the films to watch out
Soroban Capital Partners has recently acquired a significant stake in industrial firm Johnson Controls International following pressure from Elliott Investment Management. This move by Soroban, a New York-based hedge fund, has positioned them as one of the top 20 shareholders of the company with an investment exceeding $500 million. While Elliott had already taken a
Red Lobster, a once-popular seafood chain, has recently filed for Chapter 11 bankruptcy protection, signaling a significant decline in its business operations. The company has faced challenges such as a bloated and underperforming restaurant footprint, failed strategic initiatives, and increased competition within the industry. These factors have contributed to the need for Red Lobster to
Traveling has become a popular activity for Americans this summer, with many people excited to get back out and explore after the challenges of the past year. However, despite a general decrease in airline fares compared to last year, some regions and destinations are seeing an increase in prices. According to data from travel site