Abercrombie Shares Surge Despite Profit Outlook Cut
Shares of Abercrombie & Fitch soared on Wednesday, even as the retailer slashed its profit outlook due to the impact of tariffs, which are expected to cost the company $50 million. Despite
PDD Holdings Faces 47% Profit Drop Amid Tariff Pressures
Chinese e-commerce giant PDD Holdings (PDD.O) reported a sharp 47% drop in first-quarter net profit, falling to 14.74 billion yuan ($2.05 billion) as it struggled with intense local competition and global trade
Stellantis CEO Antonio Filosa Faces Pressure to Revive U.S. Sales
U.S. dealers of Jeep SUVs and Ram pickup trucks are looking to new Stellantis CEO Antonio Filosa to reverse months of disappointing sales and restore trust in the brand. Filosa, a 51-year-old
Fed Holds Rates Steady Amid Concerns Over Inflation and Tariffs
In the minutes from their May 6-7 meeting, Federal Reserve officials expressed concerns that ongoing tariff disputes could exacerbate inflation and create challenges for future interest rate decisions. Despite these concerns, policymakers
Nvidia Beats Expectations with Strong Data Center Growth
Nvidia reported better-than-expected earnings and revenue on Wednesday, driven by the company’s booming data center business, which saw a remarkable 73% year-over-year growth. The stock rose about 6% in extended trading following
IMF Upgrades UK Growth Forecast Amid Fiscal Challenges
The UK economy is expected to grow slightly more than previously anticipated in 2025, with the International Monetary Fund (IMF) forecasting a 1.2% growth this year and a slight increase to 1.4%
Wall Street Rallies as Trump Delays EU Tariffs
Wall Street stocks surged on Tuesday after U.S. President Donald Trump stepped back from his threat to impose 50% tariffs on European Union imports, easing trade tensions and boosting market sentiment as
French Inflation Drops to Lowest Level Since December 2020
French inflation fell to its lowest level in nearly three years in May, driven by a significant drop in energy prices and a slowdown in service costs. According to preliminary data from
China’s Industrial Profits Improve, but Challenges Remain
China’s industrial profits showed positive growth in April, offering hope that recent stimulus efforts are helping to stabilize the economy amid rising trade tensions with the United States. Official data released on
Tesla’s European Sales Drop Amid Competition and Issue
Tesla’s sales in Europe plunged significantly in April, with the U.S. electric vehicle maker facing a 49% year-on-year decline despite an overall surge in battery electric car sales. Tesla sold just 7,261