With recent data indicating a robust US economy, the Federal Reserve has resumed hiking interest rates, and Chair Jerome Powell has left the door open to more hikes.
Meta Platforms (NASDAQ:META) stock jumped after the company reported a huge increase in quarterly sales. Social media platform operator Meta Platforms, Inc. (NASDAQ: META) reported stronger-than-expected financial performance for the second quarter of its fiscal year 2023. In addition, the company’s forecast for the coming quarter’s sales ($33.3 billion at the midpoint) exceeded all expectations.
Before the summer vacation season turns into this fall’s show-and-tell, Walmart (WMT) is bringing its loyal Walmart+ members on a new, more rewarding adventure. Starting right now, members of Walmart+ can use the website WalmartPlusTravel.com to reserve vacations. More than 900,000 hotels, 500+ airlines, 100+ car rental companies, and thousands of activities across the world are available to Walmart+ members through travel booking on WalmartPlusTravel.com, which is powered by Expedia Group’s White Label Template technology.
Samsung Electronics Co.’s profits beat expectations, fueling hope that the global electronics buying slump following Covid is abating. The company, which is a benchmark due to its dominance in the chip, electronics, and smartphone markets, announced a net income of 1.55 trillion won ($1.2 billion).
There will be no more visits from the IRS. Generally speaking, the tax agency will no longer show up at taxpayers’ homes or places of business unannounced to demand payment. To ensure the security of its employees, the IRS has said it will end the controversial practice, which has been in place since at least the 1950s.
After Lionel Messi turned down their offer, Saudi Arabia is now banking that they will entice another soccer superstar with a deal they know he can’t refuse. According to CBS Sports, Saudi club Al Hilal offered Kylian Mbappe a $776 million annual salary and a transfer fee of a record $332 million to sign him away from Paris Saint-Germain.
Japan is providing a warm welcome to Web3 companies. At the WebX Asia conference, Tokyo Governor Yuriko Koike declared that her city was taking steps to become a digital innovation and cryptocurrency centre for the world.
After accusations of witness tampering, the prosecution is pushing to have Sam Bankman-Fried FTX locked up. Bankman-Fried was charged by prosecutors of leaking the private writings of his ex-girlfriend and business partner to the New York Times. According to testimony presented in court last week, 31-year-old Bankman-Fried attempted to discredit their star witness, Caroline Ellison, who is set to testify against him in October.
The presence of a logo for a cryptocurrency exchange on the Golden State Warriors’ uniforms has sparked a legal battle between the franchise and FTX. A supporter of the Warriors has contested the legality of the FTX emblem on Warrior’s merchandise, arguing that the logo constitutes illegal advertising.
A group of American car manufacturers have joined forces to establish a nationwide system for recharging electric vehicles. Investments of several million dollars will be made by GM, BMW, Honda, Hyundai, Kia, Mercedes, and Stellantis to construct “high power” charging stations with at least 30,000 plugs by the year 2030.
The Mega Millions jackpot is currently projected at $910 million, with a $464.2 million cash option, making it the fifth-largest reward in the lottery’s history ahead of Friday’s drawing.
Stocks to watch this week. WMT, META, GRPN, JPM, MSFT, GOOGL, eBay, AAPL, TSLA, UPS, AMZN, FDX
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