Florida judge has dismissed Walt Disney Co's solicitation to excuse a claim filed by an oversight district, potentially complicating Disney's own legal battle against Governor Ron DeSantis. The oversight district's lawsuit aims to nullify "private cabin bargains" that were brokered between Disney and a previous district board earlier this year. If these arrangements are...
Inflation in Germany has continued its downward trajectory, defying economists' expectations and presenting challenges to the European Central Bank's (ECB) inflation objectives. The latest data from the federal statistics office reveals that Germany's harmonized consumer prices increased by 6.5% annually in July, following a 6.8% increase in June. While this decrease is a positive...
The United States economy has showcased remarkable resilience, boasting a 2.4% growth in the second quarter. This impressive figure has not only surpassed economists' projections but has also alleviated concerns of a potential recession amid rate increases. As a result, global equity markets experienced a sharp decline, while the dollar saw a significant boost. To...
Mercedes-Benz has increased its operating profit forecast for the year, with the automaker expecting its earnings before interest and taxes (EBIT) in 2023 to match that of the previous year, reaching an impressive €20.5 billion. The decision to raise the operating profit forecast comes in the wake of a robust second-quarter performance, where Mercedes-Benz surpassed...
In a rare display of unity, both parties in the U.S. Congress have introduced legislation aimed at curbing stock trading by government officials and their relatives. The "Ban Stock Trading for Government Officials Act," modeled after the previously implemented Stop Trading on Congressional Knowledge (STOCK) Act, seeks to prevent insider trading among members of...
In a mixed financial report, Ryanair has announced a reduction in its forecast for passenger growth due to ongoing Boeing delivery delays. Despite quarterly profits exceeding pre-pandemic levels, the airline is approaching the upcoming months with caution. During the months of May and June, Ryanair experienced a surge in passenger numbers, reaching a record high....
Chevron Corp has reported impressive second-quarter earnings that exceeded Wall Street's expectations. The energy giant announced a robust net profit of $6 billion for the quarter ending June 30, solidifying its position in the market. With an adjusted profit per share of $3.08, the company outperformed the consensus estimate of $2.97 per share, showcasing...
Cuba's economy is facing significant challenges, with the growth rate projected to be less than 2% in 2023, marking a troubling eight percentage points below pre-pandemic levels. Agriculture, mining, and manufacturing sectors are among the hardest hit, experiencing substantial declines in production. Compared to 2019, agriculture has witnessed a staggering downturn of 34.9%, while manufacturing...
Oil prices have experienced a significant boost, registering a nearly 2% increase, marking the fourth consecutive weekly surge. The ongoing price rally was primarily triggered by supply shortages anticipated in the coming months, coupled with escalating tensions between Russia and Ukraine. At the close of trading, the settlement price for Brent crude futures settled at...
Blackstone Inc. has surpassed $1 trillion in assets under management, achieving the feat three years ahead of the company's initial goal set in 2018 and firmly solidifying Blackstone's position as an industry trailblazer. Co-founded in 1985 by CEO Stephen Schwarzman with a meager $400,000 in capital, Blackstone's rise to managing over $1 trillion in assets...
