Investments and Business

NANTERRE, France — French sensation Léon Marchand continued his impressive run at the Paris Olympics, becoming the first swimmer in history to win gold in both the 200-meter butterfly and 200-meter breaststroke at the same Games. And he did it on the same night. Marchand won his first gold medal of the day in the 200-meter butterfly, setting an Olympic record with a time of 1:51.21, in an incredible comeback over Hungary's Kristóf Milák, who finished second with a time of 1:51.75. About two hours later, Marchand set another Olympic record by swimming the 200-meter breaststroke in 2:05.85. It was…

Amazon reported its second-quarter earnings on Thursday, reporting lower-than-expected revenue and a less optimistic outlook for the next quarter, sending the company’s shares lower in after-hours trading. Here are the key data: Earning per share: $1.26, versus $1.03 expected by LSEG Income: $147.98 billion, below LSEG's projection of $148.56 billion Additional metrics of interest to Wall Street include: Amazon Web Services (AWS): It generated $26 billion in revenue, according to StreetAccount Advertising: It brought in $13 billion in revenue, according to StreetAccount

ALBA, FLORIDA — Private sector employment growth slowed in July, with wage increases hitting a three-year low, according to a report released Wednesday by payroll processing firm ADP. Employment numbers The private sector added just 122,000 jobs in July, marking the slowest growth since January and falling short of June’s revised figure of 155,000. That figure also fell short of the 150,000 job gains forecast by economists polled by Dow Jones. Wage growth trends ADP also revealed that wages among those who remained employed rose 4.8% year over year, the lowest increase since July 2021 and a slight decline from…

TOKYO — Official data released Wednesday confirmed that Japanese authorities spent 5.53 trillion yen ($36.8 billion) in July to support the yen. The move follows a period of significant volatility in the currency. Japan's Ministry of Finance provided data covering the period from June 27 to July 29, revealing that the amount of intervention met market expectations. The move came after several warnings from Japanese officials about potential measures to address the currency's erratic movements. Japan's recent foreign exchange intervention follows the yen's plunge to a 38-year low against the U.S. dollar. In late May, the government acknowledged the first…

TOULON — The European Union's statistics agency reported on Wednesday that headline inflation in the euro zone unexpectedly rose to 2.6% in July, despite a slight slowdown in the services sector. Inflation stood at 2.5% in June, down slightly from 2.6% in May. Economists polled by Reuters had expected July's inflation rate to hit June's 2.5%. Core inflation, which excludes volatile items such as energy, food, alcohol and tobacco, hit 2.9% in July, slightly above the Reuters estimate of 2.8% and in line with June's core inflation rate. Services inflation, a closely watched indicator, fell to 4% in July from…

Las Vegas — Qualcomm’s fiscal third-quarter earnings beat Wall Street forecasts, delivering solid results and an upbeat outlook for the next quarter. In a press conference during CES 2022, Qualcomm Chairman and CEO Cristiano Amon discussed the company's performance. Following the earnings report, Qualcomm shares jumped more than 6% in after-hours trading. For the quarter ended June 23, Qualcomm's results were as follows versus LSEG consensus estimates: Earning per share: $2.33 (adjusted) vs. $2.25 expected Income: $9.39 billion (adjusted) vs. $9.22 billion expected Net income for the quarter reached $2.13 billion, or $1.88 a share, up from $1.8 billion, or…

On July 9, 2024, U.S. Federal Reserve Chairman Jerome Powell delivered his semiannual monetary policy report to Congress, addressing banking, housing, and urban issues in the Senate. The focus of this week’s Federal Reserve meeting is more on future actions than immediate changes. As expected, policymakers are likely to keep current short-term interest rates in line with last year's levels. However, recent supportive inflation data has led to widespread speculation that the Fed may signal a willingness to cut interest rates starting in September. The degree of clarity provided in their forward guidance will be crucial to market interpretations. "We…

FARNBOROUGH, England — This year’s biggest air show saw a notable absence of the huge plane orders typical of previous events. Instead, the spotlight was on Boeing and Airbus as they navigated the complexities of ramping up production after pandemic-related disruptions. Analysts believe that problems such as training new workers will persist for years, causing ongoing difficulties for airlines, suppliers and manufacturers and leading to a shortage of new, more fuel-efficient aircraft. “It’s a legitimate concern on the part of the supply base and the airlines that we haven’t met our commitments in terms of on-time delivery and predictability,” Ihssane…

The world of sports has seen many extraordinary father-son pairs, each leaving an indelible mark on their respective fields. From basketball to football, baseball to racing, these pairs have not only displayed individual brilliance, but also a shared legacy of excellence. Let's explore some of the most iconic father-son pairs in sports history. LeBron and Bronny James LeBron James has cemented his status as an NBA legend, recently becoming the league's all-time leading scorer. With 20 All-Star selections, four MVP awards and four Finals MVP titles, his career spans 21 seasons, including six with the Lakers. His son, Bronny, was…

A key inflation gauge for the Federal Reserve showed a modest increase in June from a year earlier, potentially setting the stage for an expected interest rate cut in September. The personal consumption expenditures (PCE) price index, a key measure of inflation, rose 0.1% in June and is up 2.5% year over year, matching Dow Jones estimates, the Commerce Department reported Friday. That follows a 2.6% year-over-year increase in May, with the monthly measure unchanged. The Federal Reserve relies heavily on the PCE index to measure inflation, which remains above the central bank's long-term target of 2%. Core inflation, which…