Tuesday, Sep 27, 2022 - 03:59:25
130 results - (0.022 seconds)

in the second quarter:

latest news at page 1:
123
    In the Ravens’ home opener against the Miami Dolphins, quarterback Lamar Jackson was everything and more. He dazzled with his arm, using pinpoint accuracy to complete 21 of 29 passes for 319 yards and three touchdowns. He dazzled with his legs, rushing for 119 yards and a touchdown on nine carries to set the NFL record for the most 100-yard rushing games by a quarterback with 11, surpassing former Atlanta Falcons star Michael Vick. Jackson, however, said the record “doesn’t mean anything if we’re not winning.” Jackson had one of his best games as a pro, but when the clock hit zero on the Ravens’ stunning 42-38 defeat at M&T Bank Stadium, in which Miami overcame a 21-point fourth-quarter deficit, the 2019 NFL Most Valuable Player was simply not enough for the Ravens to win. “We’ve just got to finish,” Jackson said. “We were up 21 or something like that. They didn’t let that define them; they kept playing. That’s what we’ve got to do. We’ve got to finish when we’re up. This is the NFL. [We’ve got to] keep...
    Justin Jefferson started his third season with the Minnesota Vikings by smashing the rival Green Bay Packers for 184 receiving yards and two touchdowns, giving new coach Kevin O’Connell a 23-7 victory in his first game on Sunday. After accumulating the most receiving yards (3,016) in a player’s first two years in the NFL, Jefferson set an Vikings record with 158 yards in the first half against a stacked Packers defense. Kirk Cousins completed 23 of 32 passes for 277 yards without a turnover, targeting Jefferson on more than a third of his throws and keeping the Packers on their heels for most of the afternoon. Aaron Rodgers’ first game without Davante Adams was a struggle, and the three-time defending NFC North champion Packers fell flat in their opener for the second straight season. Last year, they deftly rebounded from a 38-3 defeat by the New Orleans Saints, but a repeat will require some new wide receivers to quickly emerge in rhythm with Rodgers. The Packers will need a healthy offensive line for once, too, after they played most of the second...
    People walk outside of the New York Stock Exchange on July 25, 2022 in New York City.Spencer Platt | Getty Images
    (CNN)Despite rising mortgage rates that dampened sales, home prices continued to climb higher in the second quarter, with many more cities seeing double-digit price gains than in the first part of the year.The median single-family existing home price in the second quarter was $413,500 -- the first time this quarterly price has ever risen above $400,000, according to the latest quarterly report from the National Association of Realtors. Home prices for the quarter were up 14.2% from a year ago, slightly slower than the 15.4% year-over-year price increase experienced in the first quarter.A majority, 80%, of US metro areas saw double-digit home price increases last quarter, or 148 out of 185. That's up from 70% of cities in the first quarter."Home prices have increased at a pace that far exceeds wage gains, especially for low- and middle-income workers," said Lawrence Yun, NAR's chief economist. Read MoreTogether with rising mortgage rates, which surpassed 5% during the second quarter, the continued increase in home prices has meant that it has become much harder to afford a home. Mortgage rates climb above 5%...
    Daniel Slim/Getty Images The parent company of The New York Times scored a net gain of 180,000 digital-only subscribers in the second quarter of this year, helping it pull in a healthy profit even after losses from its acquisition of sports site The Athletic. The Times announced the latest financial figures in a press release Wednesday, touting how it had “added approximately 180,000 net digital-only subscribers and 230,000 digital-only subscriptions compared with the end of the first quarter of 2022.” That growth in digital subscriptions was a continuation of a trend, with the Times reporting “a net increase of 1,200,000 digital-only subscribers and 1,480,000 digital-only subscriptions compared with the end of the second quarter of 2021.” Digital subscription revenues were $238.7 million in the second quarter, a 25.5% increase from the prior quarter, representing roughly 43% of the company’s total quarterly revenues of $555.7 million (total revenues increased 11.5%). The Athletic made headlines when it launched in 2016, paying top dollar to lure away marquee talent from other media outlets, but struggled to turn a profit. It’s still a red...
    In this article AMZNThe Amazon logo displayed on a smartphone and a PC screen.Pavlo Gonchar | LightRocket via Getty ImagesSocial media giants Meta and Snap are telling investors that the online advertising market is experiencing some turbulence due to the economic slowdown. Amazon is sending a very different message. While the bulk of its business comes from e-commerce and cloud computing, Amazon has built a robust online ad division by getting brands to pay big bucks to promote their products on the company's website and app. As of late last year, Amazon commanded 14.6% of the U.S. digital ad market, third to Google at 26.4% and Facebook at 24.1%, according to Insider Intelligence. In the second quarter, Amazon grew faster than either of its larger peers in the market and also beat out the rest of the major players. Amazon's ad revenue rose 18% from a year earlier to $8.76 billion, topping analysts' expectations and underscoring the unit's rapid ascent and increasing importance to brands. By contrast, Facebook's ad business shrank for the first time ever, missing analyst estimates, and...
    Growth in the euro zone economy accelerated in the second quarter of the year, but the region's prospects could be hit as Russia continues to reduce gas supplies. The 19-member bloc registered a gross domestic product rate of 0.7% in the second quarter, according to Eurostat, Europe's statistics office, beating expectations of 0.2% growth. The euro zone posted GDP of 0.5% in the first quarter of the year. The numbers contrast sharply with the negative readings out of the United States for both the first and second quarter, as the euro zone continues to benefit from the reopening of its economy after the pandemic. However, a growing number of economists are expecting the euro zone to slide into a recession next year, with Nomura, for example, forecasting an annual contraction of 1.2% and Berenberg pointing to a 1% slowdown. Even the European Commission, the executive arm of the EU, has admitted that a recession could be on the cards — and as early as this year if Russia completely cuts off the region's gas supplies. Officials in Europe have become...
    The definition of a recession as having two quarters of contracting GDP originated with economist Julius Shiskin. He popularized the rule of two consecutive quarters of economic decline as a sign of a recession in a New York Times article published in December 1974. However, the Biden administration already planted the seeds of not acknowledging two consecutive quarters of economic downturn as a "recession." Last week, the White House Council for Economic Advisers published a blog post arguing against the textbook definition of a recession. "While some maintain that two consecutive quarters of falling real GDP constitute a recession, that is neither the official definition nor the way economists evaluate the state of the business cycle," the Biden administration claimed. "Instead, both official determinations of recessions and economists’ assessment of economic activity are based on a holistic look at the data – including the labor market, consumer and business spending, industrial production, and incomes. Based on these data, it is unlikely that the decline in GDP in the first quarter of this year – even if followed...
    PHILADELPHIA (CBS) — The U.S. economy shrank between April and June of this year, marking the second consecutive quarter of declining economic activity — a sign the U.S. may be teetering on the edge of a recession. The nation’s gross domestic product, a measure of total spending on goods and services across the economy, fell at an annual rate of 0.9%, the Commerce Department said Thursday. READ MORE: Woman Shot At Wedding Reception In Philadelphia's Feltonville Section After Fight: PoliceThe contraction follows a 1.6% decline in economic activity in the first three months of the year and means the U.S. could currently be in a recession, which is broadly defined as two straight quarters of negative growth. READ MORE: Biden Administration Offers Convicted Russian Arms Dealer In Exchange For Griner, WhelanThe hottest inflation in 40 years is crimping household budgets, with some consumers struggling to cover basics such as gasoline, food and rent, which have sharply risen in price from a year ago. At the same time, the Federal Reserve on Wednesday raised interest rate for the fourth time this...
    The US economy has contracted for the second quarter in a row, meeting the classic definition of a recession. Gross domestic product shrank 0.9 percent in the second quarter, following a decline of 1.6 percent decline in the first quarter, the Commerce Department said on Thursday.  Two consecutive quarters of negative GDP growth constitutes the informal and widely recognized definition of a recession. But the White House has been furiously combatting the notion that six months of economic contraction equates to a recession, issuing statements and briefings to push their message that the economy remains strong. Gross domestic product shrank 0.9 percent in the second quarter, following a decline of 1.6 percent decline in the first quarter 'We're not going to be in a recession,' President Joe Biden told reporters on Monday.  Technically, a recession has to be officially declared by the National Bureau of Economic Research. The group's Business Cycle Dating Committee defines a recession as 'a significant decline in economic activity that is spread across the economy and lasts more than a few months.' The committee assesses a range...
    Gross domestic product was expected to increase 0.3% in the second quarter, according to Dow Jones estimates. This is breaking news. Please check back here for updates.TVWATCH LIVEWATCH IN THE APPUP NEXT | ETListen
    VIDEO1:1001:10Dow set to fall at open following big Fed rallyMorning Report Take a look at some of the biggest movers in the premarket: Spirit Airlines (SAVE) – Spirit shares rose 3.9% in premarket trading after it agreed to be acquired by JetBlue (JBLU) for $33.50 per share in cash. That follows yesterday's rejection by shareholders of Spirit's previous deal to merge with Frontier Airlines parent Frontier Group (ULCC). Frontier shares added 1.2% while JetBlue stock was little changed. Stanley Black & Decker (SWK) – The tool maker's stock slumped 12.3% in the premarket after quarterly results missed analysts' estimates on the top and bottom lines, and the company slashed its full-year forecast. Stanley Black & Decker said the softening of demand accelerated during the last part of the quarter, although it does expect demand to normalize. Solar stocks – Shares of solar companies popped in the premarket after Democratic Sen. Joe Manchin agreed to support a bill that would grant a variety of clean energy incentives. Sunrun (RUN) surged 11.2%, Sunnova (NOVA) rallied 12.9%, First Solar (FSLR) jumped 9.9% and...
    While China's exports surged by more than expected in June, imports climbed far less than anticipated. Workers pictured here disinfect a container ship terminal in Qingdao on July 13, 2022.Future Publishing | Future Publishing | Getty Images BEIJING — China eked out GDP growth of 0.4% in the second quarter from a year ago, missing expectations as the economy struggled to shake off the impact of Covid controls. Analysts polled by Reuters had forecast growth of 1% in the second quarter. Industrial production in June also missed expectations, rising by 3.9% from a year ago, versus the 4.1% forecast. However, retail sales in June rose by 3.1%, recovering from a prior slump and beating expectations for no growth from the prior year. Major e-commerce companies held a promotional shopping festival in the middle of last month. Fixed asset investment for the first half of the year came in above expectations, up 6.1% versus 6% predicted. In the second quarter, mainland China faced its worst Covid outbreak since the height of the pandemic in early 2020. Strict stay home orders hit...
    Welcome to the Glean, MinnPost’s twice-daily roundup of Minnesota news. David Koenig at the Associated Press via the Strib is reporting Delta Air Lines earned $735 million in the second quarter, as packed planes and higher fares boosted revenue close to pre-pandemic levels. However, the profit fell short of Wall Street expectations, and Delta’s shares fell more than 5% in midday trading. Delta struggled in the quarter with rising fuel prices and the cost of canceling more than 4,000 flights in May and June. Mara Klecker at the Star Tribune reports Minneapolis Public Schools’ Interim Superintendent Rochelle Cox announced her cabinet members and their positions in an email Tuesday to department leaders and principals. William Bornhoft at Patch has a story on a Donald Trump supporter from Brooklyn Center accused of faking politically motivated arson at his own property and filing false insurance claims. Denis V. Molla, 29, has been charged in federal court with two counts of wire fraud. Molla lied about being targeted by anti-Trump vandals, according to federal investigators. Courtney Godfrey at FOX9 is reporting that after...
    In this article TSLAA giant cowboy boot is on display outside the Tesla Giga Texas manufacturing facility during the "Cyber Rodeo" grand opening party on April 7, 2022 in Austin, Texas.Suzanne Cordeiro | AFP | Getty ImagesTesla just posted its second-quarter vehicle production and delivery numbers for 2022. Here are the key numbers: Total deliveries Q2 2022: 254,695 Total production Q2 2022: 258,580 Delivery numbers, which are the closest approximation of sales reported by Tesla, fell just shy of analysts' expectations. According to a consensus compiled by FactSet-owned Street Account, analysts were expecting deliveries of 256,520 vehicles for the quarter, which was marked by Covid restrictions, supply chain snarls, semiconductor chip and other parts shortages. Last year, Tesla delivered 201,250 vehicles in the second quarter, its first time delivering more than 200,000 units in a three-month period. In the first quarter of 2022, Tesla delivered 310,048 vehicles. Today's delivery numbers represented sales growth of 26.5% year-over-year, and a 17.9% decrease sequentially for Elon Musk's electric vehicle venture. The company has soft-guided to around 50% average annual growth, long-term, depending...
    Fox News continued its dominance of cable television in the second quarter of 2022. The network ended the quarter this month as the most-watched network on cable and extended its winning streak over its cable news competition to a whopping 82 consecutive quarters. While Fox News maintained in first place on cable, MSNBC came in second overall – one spot up from last quarter. Fox’s highest-rated show, The Five, made history as the first non-prime time program to win three consecutive quarters as the number one show on cable. The 5 p.m. panel program edged out Tucker Carlson Tonight for the top spot in terms of overall viewers, despite Carlson topping The Five in the demo. For the quarter, Fox News also scored 96 of the top 100 most-watched telecasts. Sean Hannity, Jesse Watters, and Bret Baier rounded out the top five most-watched shows on cable – securing the 3rd, 4th and 5th places in the ratings. CNN landed in sixth place overall on cable, down a spot from its top-five finish last quarter. Fox’s total average viewership for...
    China's exports surged by 16.9% in May from a year ago, two times faster than analysts expected. Pictured here on June 15, 2022, are workers in Jiangsu province making stuffed toy bears for export.Si Wei | Visual China Group | Getty Images BEIJING — Chinese businesses ranging from services to manufacturing reported a slowdown in the second quarter from the first, reflecting the prolonged impact of Covid controls. That's according to the U.S.-based China Beige Book, which claims to have conducted more than 4,300 interviews in China in late April and the month ended June 15. "While most high-profile lockdowns were relaxed in May, June data do not show the powerhouse bounce-back most expected," according to a report released Tuesday. The analysis found few signs that government stimulus was having much of an effect yet. Shanghai, China's largest city by gross domestic product, was locked down in April and May. Beijing and other parts of the country also imposed some level of Covid controls to contain mainland China's worst outbreak of the virus since the pandemic's initial shock in early...
    New York (CNN Business)America's economy shrank at a slightly faster rate than initially reported, the Bureau of Economic Analysis said Thursday.US gross domestic product, the broadest measure of economic activity, decreased at an annualized rate of 1.5%, adjusted for seasonal swings, according to the second estimate of the data.Last month, the Commerce Department's advance estimate of the data showed GDP had contracted at a rate of 1.4%. Economists had expected Thursday's revisions to improve slightly, with a decline of 1.3%.The update was driven by revisions to private inventory and residential investments, even as consumer spending was revised higher.No matter the update, the first quarter was a sharp slowdown from the 6.9% growth rate recorded in the fourth quarter of 2021. It also marked the worst quarter since the pandemic recession in the second quarter of 2020.Read MoreThis is a developing story. It will be updated.
    The Chicago Bulls returned to the United Center for their first playoff game in five years with home-court advantage and the momentum of a road win at their back. But they limped out of Game 3 with a 111-81 beatdown as the Milwaukee Bucks bounced back like a reigning NBA champion to take a 2-1 lead in the first-round series. Bulls fans poured into the United Center with frenetic excitement, drowning out the team’s introduction videos. But that enthusiasm dulled in the first quarter of the blowout. By the time Patrick Williams threw away a turnover in the third quarter, scattered boos began to swell from the crowd. The 30-point drubbing was the second-worst loss in franchise history behind a 115-78 defeat to the Miami Heat in the 2013 Eastern Conference semifinals. The Bucks ripped off a 13-0 run in the second quarter to cement a 19-point halftime lead, then went on a 13-0 run in the third quarter to stretch the lead to 29 points. DeMar DeRozan fell flat on the heels of a postseason-career-high 41-point performance in Game...
    For the first time in too long — maybe weeks, maybe a month — the Chicago Bulls took complete control of a game. Monday night’s 113-99 win over the Toronto Raptors at the United Center couldn’t have come at a more necessary, even desperate time. After weeks of blowout losses and scattered grind-it-out wins, the Bulls were crumbling in confidence and in the Eastern Conference standings. But they won Monday in their style on their home court. The victory ended a three-game losing streak, but more importantly, it proved the Bulls’ winning formula from early in the season still has the same bite. “There was times in all these games … we’ve had moments we played really, really good basketball, but it’s just not sustained for a long enough period of time,” coach Billy Donovan said. “We had these moments and these lapses that really hurt us. But tonight, from start to finish, we played to an identity.” The win served as a welcome-back party for forward Patrick Williams, who played his first game in almost five months after wrist...
    MINNEAPOLIS (AP) — Jarred Vanderbilt scored 18 points against his former team, Taurean Prince had 23 and the Minnesota Timberwolves’ bench led the way in a 130-115 victory over the Denver Nuggets on Tuesday night. Karl-Anthony Towns added 24 points and 10 rebounds for Minnesota, but the Timberwolves’ reserves outscored Denver’s 48-17 through the first three quarters. READ MORE: Vikings Interview Giants DC Graham For Coach; Harbaugh NextMinnesota’s second unit took advantage when Denver star Nikola Jokic rested in the first half to take a commanding lead the Timberwolves wouldn’t relinquish. Minnesota used a 26-8 run covering the end of the first quarter and beginning of the second, with Prince, Jordan McLaughlin and Naz Reid contributing off the bench. In all, the Wolves went on a 25-7 run while Jokic was on the bench. “I think that group has a lot of confidence,” Prince said. “We just come in with confidence that we’re one of the best players on the floor. We feel like we can each start in this league. So, I think the fact that you have...
    There was the Butt Fumble, the Butt Interception, and now thanks to Los Angeles Rams wide receiver Odell Beckham Jr., NFL fans witnessed the Butt Punch. The unique incident took place during the second quarter of Sunday’s matchup between the Rams and Baltimore Ravens. Rams quarterback Matt Stafford unleashed a 50-yard-pass intended for Beckham, but Ravens safety Chuck Clark went up and snagged his second interception of the game. Beckham quickly ran to Clark with a clenched fist, wound up and hammered the Ravens safety right on the butt. Although the play was odd, Beckham was likely hoping to connect with the football and force a fumble by punching it out of Clark’s grasp. Instead, Beckham missed the ball and punched Clark square in the derriere. It’s not uncommon to see players try to punch the football away from the opposition, which is why Beckham was not flagged on the play and Clark didn’t attempt to retaliate. Beckham’s punch was the Rams’ second of the game. Tensions appeared high in the first quarter when Rams cornerback Jalen...
    Peter Cade | Stone | Getty Images The solar industry is among many sectors feeling the pinch of higher prices, according to a report released Tuesday by the Solar Energy Industries Association and Wood Mackenzie. Prices rose quarter over quarter and year over year across every solar segment during the period. It's the first time that residential, commercial and utility solar costs have risen in tandem since the energy consultancy began tracking prices in 2014. The most-significant cost pressures came from a jump in prices for raw materials, including steel and aluminum. Elevated shipping costs also played a role. The bulk of these impacts will likely start to show in 2022, since many companies have enough inventory to see them through the end of the year, according to the report. Overall, the U.S. added 5.7 gigawatts of solar capacity during the period, a record for second-quarter installations. That also marks a 45% jump over 2020's level as the pandemic roiled the industry. "The solar industry continues to demonstrate strong quarterly growth, and demand is high across every segment," Wood Mackenzie...
    In this article GENIGenius Sports.Genius SportsNational Football League data rights partner Genius Sports reported second-quarter earnings Wednesday morning. Revenue doubled year-over-year but it reported a big loss. Shares of Genius Sports were up about 2.5% on Wednesday morning. Genius provides NFL play-by-play stats and Next Generation data for sports gambling companies, allowing the firms to set betting lines, and offer in-game micro bets. Genius said it made $55.8 million in revenue for the quarter, which ended on June 30, up slightly from $53.7 million in the first quarter and up 108.4% from the same quarter last year. It reported a net loss of $464.1 million in Q2, an increase from a $7.4 million loss in the same quarter last year. The company said $414.5 million of that loss was for stock-based compensation. Last April, Genius signed an exclusive deal valued at $1 billion to provide official data essential to NFL bets – a significant driver for betting companies in an estimated $40 billion online gambling sector. That means if sports gambling providers that want to cash on bets this season...
    Commemorative dogecoins on display in Yichang, China on May 14, 2021.Barcroft Media | Barcroft Media | Getty Images Robinhood said its crypto revenue accounted for more than half of all transaction-based revenue in the second quarter, as retail investors turned to the app for purchases of bitcoin, ethereum and other digital currencies. In its first earnings report since its IPO last month, Robinhood said its revenue from crypto transactions was $233 million, up from $5 million in the year-ago quarter. Crypto accounted for 52% of transaction-based revenue, up from 17% in the first quarter and 4% in the fourth quarter of last year. The company also noted that more than 60% of cumulative net-funded accounts traded crypto in the quarter. "The three months ended June 30, 2021 is the first quarter where a larger share of new customers placed their first trade in crypto rather than equities," Robinhood said in the earnings statement. While Robinhood gained popularity by bringing free stock trading to a new generation of investors, the company has also been a big beneficiary of the surge in cryptocurrency...
                        Florida Tourism numbers continue to rebound in 2021 as data from quarter two (Q2), provided by the state’s tourism marketing agency – Visit Florida, shows 31.692 million visitors from April 1st to June 30th. This is 16.3% more visitors than quarter one. The first two quarters of 2021 show an improvement compared to quarters two, three, and four of 2020 during the pandemic, which recorded 9.92 million, 20.33 million, and 19.09 million visitors, respectively. According to the data, the total number of visitors in Q2 of 2021 compared to the total number in Q2 of 2020 is a 223.4% increase. Specifically, 30.563 million visitors were domestic, or from other states in the U.S., 1.115 million from overseas, and 15,000 from Canada. Again, comparing to Q2 of 2020, each category of visitors increased significantly. Domestic visitors increased 215.9%, overseas visitors increased by 854.1%, and Canadian visitors increased by 74.1%. Visit Florida’s CEO and President, Dana Young, said at a tourism summit for the Delray Beach Chamber of Commerce last...
    Monica Schipper/Getty Images A new survey reveals which podcasts were the most listened to for the first quarter of 2021. The ranking was compiled by Edison Research, which used data from the Podcast Consumer Tracking Report. The list of 50 podcasts was crafted from a survey of 8,000 podcast listeners from the Q3 2020 through Q2 2021 period, and it includes an analysis of the audience size and percentage breakdown for individual networks. Spotify’s massive investment in Joe Rogan is still paying off: The Joe Rogan Experience remains the most popular podcast in the country. Their other exclusive podcasts also seem to be doing well — Alexandra Cooper’s Call Her Daddy has jumped from 15th to 11th place since 2020, and Dax Shepard’s Armchair Expert is holding steady at 18th place. On the Apple side of things, The Daily podcast, courtesy of The New York Times and host Michael Barbaro, takes 2nd place on the list. Next is Crime Junkie, followed by This American Life, then Stuff You Should Know which took the number 5 slot from My Favorite Murder....
    Axcelis, a great opportunity in the semiconductor sector Axcelis Techs plays an important role in semiconductor production for the Automotive industry having sold systems for more than 100 million dollars for the first time since 2004. In addition, the company trades at a strong discount compared to IShares Semiconductor ETF, according to Anthony Di Pizio in The Motley Fool. Not a name used by the high-flying heavyweights of the semiconductor industry, but Axcelis Technologies provides critical equipment and services for those major producers. Recently, you have paid special attention to your line Purion of specific ion implanters for chips used in the automotive industry, which plays an important role in solving the global supply shortage. That bet is paying off. The company reported a strong second quarter earnings result llast week, which sent stocks up nearly 20%. The firm has positioned itself to grow in the coming years as the industry continues to expand its capacity to meet growing demand. “With only 2.3 times expected revenue for 2021, I think the stock is a bargain for long-term investors looking...
    THE WORLD Madrid Updated on Friday, 23 July 2021 – 10:34 The volumes of combustion cars are still the largest, but their market share is shrinking in the face of the push from alternative energies. Faconauto “The combustion car continues to pay the bills” European Union “The motor industry always says ‘it’s fatal’, but then it complies” According to data from the European Automobile Manufacturers Association (ACEA), in the second quarter of 2021, electric car registrations continued to grow in the European Union. The market share of battery electric vehicles more than doubled, from 3.5% in the second quarter of 2020 to 7.5% this yearwhile plug-in hybrids accounted for 8.4% of all new cars sold. Demand for hybrid cars also increased considerably during this three-month period, accounting for 19.3% of car registrations in the EU. At the same time, the market share of traditional fuel types (gasoline and diesel) contracted, adding together 62.2% of the new cars sold. Lower the gasoline and diesel quota From April to June 2021, gasoline and diesel engine registrations grew across...
    Rio de Janeiro, Aug 4 (.) .- The Brazilian oil company Petrobras obtained in the second quarter of the year a net profit of 42,855 million reais (about 8,241 million dollars), almost 36 times higher than in the first three months of the year (1,167 million reais or 224.4 million dollars), the company reported. The profit in the second quarter allowed the largest company in Brazil to reverse with a wide advantage the losses of 2,713 million reais (521.7 million dollars) registered in the same period of 2020, according to the financial balance sent to the market. The good result allowed the company to accumulate in the first half of the year a profit of 44,022 million reais (8,465.8 million dollars), with which it reversed part of the losses for 51,236 million reais (about 9,853 million dollars) suffered in the first six months of last year, when it was impacted by the economic crisis generated by the covid pandemic. The Brazilian giant’s profits in the second quarter of the year, however, were below those of the last quarter of 2020,...
    Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, U.S. June 3, 2021.Mike Blake | Reuters Household debt rose by its highest dollar amount in 14 years during the second quarter, thanks mostly to a surge in the housing market that brought the collective American IOU to just shy of $15 trillion, the Federal Reserve reported Tuesday. Total debt balances jumped $313 billion in the April-to-June period, the sharpest rise since the same period in 2007. As a share of debt, that represented a 2.1% increase, the fastest pace since the fourth quarter of 2013. Most of the gain came from mortgage originations, both initial purchases and refinances, which have been on fire as the Fed has kept benchmark borrowing rates anchored around historic lows. Mortgage balances increased $282 billion for the period, up 2.8% rise from the first quarter and 6.7% from a year ago. Over the past four quarters, mortgage originations have totaled close to $4.6 trillion, amounting to 44% of all outstanding home loan balances. But the...
    Bezos dropped to second place to make way for Frenchman Bernard Arnault, who is now the richest man in the world. Photo: ERIC BARADAT / . / . Jeff Bezos, who claimed to be the richest man in the world, is no longer so, as he lost a significant amount of money at the end of last week. And it is that on Thursday afternoon the company presented its earnings report for the second quarter, which were not expected and caused the fall of Amazon shares, which affected Bezos, causing him to lose $ 13.9 billion dollars. As your fortune goes down, Bezos fell to second place to make way for Frenchman Bernard Arnault, who is now the richest man in the world., as reported in Forbes. Arnault, who owns the luxury goods company Moët Hennessy • Louis Vuitton, better known as LVMH, also had a loss in the value of his company of 1.4% this past Friday, but still kept a fortune of $ 192.9 billion, so there was $ 500 million ahead...
    The US economy is recovering but Delta variance and lack of manpower could weaken progress. Photo: Karolina Grabowska / Pexels The growth of the US economy accelerated moderately in the second quarter and it did not achieve the projections planned, after tax benefits, residential investment and inventories had an impact on the figure, published El Financiero. Fueled by vaccines and government aid, the United States economy grew at an annual rate of 6.5% in the second quarter, which is another sign that the country is achieving a sustained recovery after the recession caused by the pandemic. The Commerce Department report estimated that the US gross domestic product (its total production of goods and services) increased in the April-June quarter from an annual growth rate of 6.3% in the first quarter of the year. The quarterly figure was lower than analysts expected, where the economy has probably been slowed by a shortage of supply of goods, components and labor. The median forecast of a Bloomberg survey of economists expected an 8.4% expansion in GDP of...
    New York (CNN Business)The US economy in the second quarter expanded at a slower rate than expected but still at its fastest pace since last fall, growing at a seasonally adjusted, annualized rate of 6.5%.It was a worse performance than expected, as economists had forecast an annualized growth rate of 8.5%, and little changed from the first quarter.Nevertheless, it was the biggest jump in growth since the nation roared back in the third quarter of 2020 from the lockdown-driven recession.The acceleration in the recovery was spurred by the last round of stimulus checks, which boosted consumer spending, as well as the reopening of the economy and continued vaccination effort that allowed Americans to take part in public life safely again.This is a developing story. It will be updated.
    Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, U.S. June 3, 2021.Mike Blake | Reuters The U.S. economy is expected to have grown at the strongest pace of the year, but it could have been even more rapid were it not for supply chain disruptions and a shortage of workers. According to Dow Jones, economists expect U.S. gross domestic product grew at an annual rate of 8.4% after growing by 6.4% in the first quarter. That estimate is lower than the more than 10% that had been expected earlier in the year. GDP will be released Thursday at 8:30 a.m. ET. "The big story remains the consumer. It looks like real consumer spending was up about 10% in the second quarter and some of that relates to the ongoing boost from the rebate checks," said Amherst Pierpont chief economist Stephen Stanley. Stanley said he expects growth of 8.7% for the second quarter. "That's not indicative of where demand was. There was a point in time where I had as...
    In this article .BBKAChristian Sewing, the new CEO of Deutsche Bank, speaks at the Deutsche Bank annual shareholders' meeting on May 24, 2018 in Frankfurt, Germany. Shareholders, frustrated by years of poor performance by Deutsche Bank, are calling for Achleitner to step down.Thomas Lohnes | Getty ImagesLONDON — Deutsche Bank reported net income of 692 million euros ($818 million) for the second quarter of this year. Analysts had forecast a net profit of 328 million euros for the quarter, according to data collected by Refinitiv. In comparison, the German lender had posted a net income of 908 million euros in the previous quarter, on the back of a strong performance in its investment banking division. However, recent reports suggested lower returns for this unit in recent months. The stock is up about 18% year-to-date. This is a breaking news story, please check back later for more.
    The New York Stock Exchange welcomes FREYR Battery (NYSE: FREY), on July 8, 2021, in celebration of its Listing.NYSE Global IPO activity had its hottest second quarter for 20 years by volumes and proceeds, with momentum set to continue for the remainder of the year, according to a new report from EY. Amid strong global stock market momentum and ample liquidity, traditional IPOs came back to the fore in the second quarter after the first was dominated by SPACs, the British professional services giant found. Throughout the first half of 2021, there were 1,070 IPOs raising a total of $222 billion in proceeds, respective annual increases of 150% and 215%. "IPO-bound companies wanting to take advantage of favorable market sentiment and high liquidity were keen to complete their transactions before an expected mid-year slow-down," Paul Go, global IPO leader at EY, said in the report. "Companies considering an IPO should prepare multi-pronged strategies that demonstrate resilience against geopolitics, the evolving COVID-19 pandemic situation, valuations and governance challenges." SPACs have been a hot topic over the past year, but U.S. SPAC...
    An illustration showing the cryptocurrency bitcoin with a price chart in the background.STR | NurPhoto via Getty Images Funding for blockchain start-ups topped $4 billion for the first time in the second quarter, despite a sharp slump in cryptocurrency prices. Companies in the nascent industry raised a record $4.38 billion, according to data from analytics firm CB Insights, up more than 50% from the previous quarter and a nearly ninefold increase from the same period a year earlier. Blockchain is the underlying technology behind most cryptocurrencies. It's essentially a digital ledger of virtual currency transactions which is distributed across a global network of computers. The largest financing round for a blockchain company in the second quarter was a $440 million investment in Circle, a payments and digital currency firm. Circle recently announced plans to go public through a $4.5 billion merger with a blank-check company. Ledger, which develops hardware wallets for people to store their digital currencies, attracted the second-biggest round in the quarter, raising $380 million. In a December interview, Ledger CEO Pascal Gauthier told CNBC the crypto market...
    American airline United Airlines has been plagued by an epidemic and continues to lose money in the second quarter, but it is optimistic about the months to thank for the resurgence in aviation. The company expects to post pre-tax adjusted profits for the second half of the year, especially with the gradual return of business travel at the end of the summer, a press release on Tuesday explains. Also read:United Airlines 270 places mega order for Boeing and Airbus aircraft There does not seem to be much concern about the rapid spread of the delta variant, which expects full revenue to meet demand by 2023. To prepare for this, the company put together the largest lineup in its history at the end of June: the 200 Boeing 737 Max and the 70 Airbus A321 Neo. Meanwhile, United Airlines lost another $ 434 million from April to June. However, when traffic in the United States was very low after the onset of the Covid 19 epidemic, the company largely reduced its losses compared to the second quarter of 2020 (1.6 billion)....
    With control of the closely divided House and Senate at stake in the 2022 midterm elections, fundraising in the 2021 off-year is already broadcasting intense and expensive campaigns that will consume next year. Fundraising totals don’t give a complete picture of the state of a campaign or organization, or how things stand in a given race, but they do start to paint a picture of which side has an edge or who is slacking. Here are three winners and two losers in the April through June second-quarter 2021 fundraising period: WINNER: Rep. Liz Cheney Despite being booted from her No. 3 House leadership position, in part over vocal criticism of former President Donald Trump, and facing at least seven primary challengers eager to unseat her next year, the Wyoming representative brought in $1.88 million in the period, multiples of all her primary challengers combined. CHENEY'S GOP CHALLENGERS NAVIGATE PRIMARY-WITHIN-PRIMARY WITH TRUMP AT THE CENTER That brings her 2021 total to $3.5 million, already flying past the $3 million she raised in the entire 2020...
    A McDonald's delivery worker walks past pig statues outside an art museum in Beijing on July 10, 2021.Jade Gao | AFP | Getty Images BEIJING — China reported second-quarter GDP growth that came in slightly below expectations, while retail sales and industrial production grew faster than forecast. The country's gross domestic product increased 7.9% in the second quarter from a year ago, the National Bureau of Statistics said Thursday. That fell short of Reuters' estimate of 8.1% growth for the April to June period. In the first quarter, GDP grew 18.3%, up from a contraction a year ago. That marked a 0.6% increase from the last quarter of 2020. Retail sales rose 12.1% in June from a year ago, more than the expected 11% level forecast by Reuters. Industrial production grew by 8.3%, greater than the 7.8% Reuters estimate. Retail sales growth has lagged that of the overall economy, and missed analysts' expectations for the first two months of the second quarter. In the last three months, Chinese authorities have also announced support for companies affected by the surge in...
    A Falcon 9 rocket booster lands after launching the company's Transporter-2 rideshare mission on June 30, 2021.SpaceX Private investment in space companies hit $4.5 billion in the second quarter, a record for the sector, according to a report on Wednesday by New York-based firm Space Capital. "This was the largest quarter on record for space infrastructure investment, despite only two space company SPACs closing in Q2," Space Capital managing partner Chad Anderson wrote in the report. The quarterly Space Capital report divides investment in the industry into three technology categories: Infrastructure, distribution and application. The first, infrastructure, includes what many would consider space companies, such as firms that build rockets and satellites. The other two categories, distribution and application, more broadly include companies that depend upon space technologies for business. Distribution represents terrestrial-based technologies that connect to space-based networks, while application includes space-dependent services, like ride hailing or navigation.VIDEO19:1519:15SpaceX is a leader in rocket launches, but Starlink is its golden ticketTechIn total, Space Capital tracks 1,553 companies with $199.8 billion in cumulative global equity investment since 2012 across its three...
    The National Republican Senatorial Committee (NRSC) raised what it spotlighted as a "record-breaking" $10.52 million haul last month, as the re-election arm of the Senate GOP builds resources as it aims to regain the Senate majority in the 2022 midterm elections. According to figures from the NRSC, which were released on Tuesday, the committee brought in $28 million in total during the April-June second quarter of fundraising and just over $51 million since the start of 2021.  FIVE BIG QUESTIONS AS THE GOP TRIES TO WIN BACK THE SENATE MAJORITY IN 2022 The committee also reported having more than $25 million in its coffers, which it touts is more than double the cash on hand it had at the same point in the 2020 election cycle. The NRSC added that it’s carrying no debt. The rival Democratic Senate Campaign Committee, which has yet to release its June or second quarter numbers, brought in $22.7 million in the first quarter of the year. "The NRSC is making historic investments in digital fundraising that are already paying dividends and will continue to throughout...
    EXCLUSIVE: Republican Sen. Marco Rubio of Florida brought in $4 million during the April-June second quarter of fundraising, his campaign reports.Rubio’s haul, shared first with Fox News on Thursday, is more than double the $1.6 million the senator raised during this year’s January-March first quarter. 2022 SENATE SHOWDOWN IN FLORIDA COULD BECOME MOST EXPENSIVE IN HISTORY Rubio, who was first elected to the Senate in the 2010 Tea Party wave and who grabbed plenty of national attention during his unsuccessful 2016 GOP presidential nomination bid, is gearing up as he runs in the 2022 midterm elections for a third six-year term. Sen. Marco Rubio, R-Fla., speaks during a Senate Appropriations Subcommittee looking into the budget estimates for National Institute of Health (NIH) and the state of medical research, Wednesday, May 26, 2021, on Capitol Hill in Washington. (Sarah Silbiger/Pool via AP) Rubio’s second quarter fundraising is more than any GOP Senate incumbent raised during the second quarter of 2019, the similar time period during the previous election cycle, his campaign pointed out. And it’s roughly $1 million more...
    Sen. Mark KellyMark KellySenate hopefuls embrace nuking filibuster The Hill's Morning Report - McConnell pressures Dem leaders to follow Biden's infrastructure lead The Hill's 12:30 Report - Presented by Facebook - Biden helps negotiate bipartisan infrastructure deal MORE (D-Ariz.) raised nearly $6 million in the second quarter of the year for his reelection bid, his campaign announced on Wednesday.  The massive three-month fundraising total eclipses the roughly $4.4 million he raised in the first quarter of 2021 and brings his campaign’s cash reserves to more than $7 million. More than 85,000 individuals gave to Kelly’s reelection operation over the past three months, his campaign said. The average donation was just $32.  “The swell in grassroots support we're seeing is a direct result of Mark delivering in the Senate and will be what fuels our people-powered campaign as we move full speed ahead into 2022,” Kelly’s campaign manager Emma Brown said in a statement.  Kelly, a former astronaut turned anti-gun violence activist, was elected last year to serve out the remainder of the late Sen. John McCainJohn Sidney McCainThe Hill's Morning...
    Visitors looking at a China-made Tesla Model Y electric vehicle at the Auto Shanghai 2021 show in Shanghai, China, on April 27, 2021.Qilai Shen | Bloomberg | Getty Images Tesla delivered 201,250 vehicles in the second quarter of 2021, the company reported. The quarter's deliveries fell short of expectations. Analysts were expecting Tesla to deliver around 207,000 cars during this period, according to estimates compiled by FactSet as of July 1. Estimates ranged from 195,000 to 231,000 deliveries. During the quarter, Tesla produced 206,421 vehicles total, including 204,081 of its Model 3 and Y, which are its more affordable mid-range cars. It produced 2,340 Model S and X vehicles, the company said. The second-quarter numbers broke the previous record set in Q1, when Tesla delivered 184,800 and produced 180,338 cars, even as production of its Model S and X vehicles fell to zero during that quarter. Tesla does not break out deliveries by region or model, and it does not report on production in China versus the U.S. The company is now producing Model 3 and Y vehicles at its...
    Traders on the floor of the New York Stock Exchange.Source: NYSE The monthly jobs report is the highlight in the coming week, as June winds down and markets start the second half of the year. Economists are expecting about 700,000 jobs, better than the 559,000 in May but below the forecasts of several months ago that payroll creation would be rolling along with monthly gains of 1 million or more. The report is a key read on the labor market, which has replaced lost jobs more slowly than expected as companies complain about worker shortages and difficulty finding help. But it is also being watched as a gauge on how sticky the current jump in inflation might be. Rising wages are one thing to watch but also worker scarcity, since that can make goods and services more expensive. Stocks have turned in a mixed performance for the month of June so far. The S&P 500 was up 1.8% as of Friday for the month, and up 7.7% in the second quarter for a 15.5% year to date gain. The Nasdaq...
    In this article KSS TGT WMT AMZN Amazon Prime delivery vans sit parked near a Walmart store on September 03, 2020 in Richmond, California.Justin Sullivan | Getty ImagesAmazon on Thursday confirmed that its annual Prime Day deals event will be shifting earlier this year, as the e-commerce giant looks to boost spending in what is normally a slower time in the retail calendar. The company has yet to confirm the specific date. The two-day shopping extravaganza originally has been held in July, but Amazon said it will now take place in its second quarter, implying a June event. Amazon provided a second-quarter outlook for revenue of between $110 billion and $116 billion — which surpassed Wall Street's projection of $108.6 billion, as it included an expected bump from Prime Day. During an earnings conference call, Chief Financial Officer Brian Olsavsky said Amazon intended to hold Prime Day earlier in the year in 2020, but those plans were thwarted due to the Covid pandemic. Instead, the event was delayed until October, resulting in an earlier-than-ever kickoff to the holiday shopping...
    People walk past the closed iconic brasserie Les Deux MagotsLUDOVIC MARIN | AFP | Getty Images LONDON — The euro zone economy contracted in the first quarter of 2021, as countries implemented new lockdowns and restrictions amid a third wave of coronavirus infections. Gross domestic product (GDP) in the region fell by 0.6% quarter-on-quarter, according to preliminary data released by Europe's statistics office Eurostat. Most of the region's largest economies — Germany, Italy and Spain — all saw a decline in activity during the first three months of the year.French surpriseFrance was the exception, with Europe's second-largest economy posting better-than-expected growth of 0.4% in the first quarter. Though the French economy remains below its pre-Covid levels, the growth numbers will bring some reassurance going into the second quarter. French President Emmanuel Macron announced earlier this week an easing of measures going forward, with cafes, bars and restaurants able to offer service outdoors from May 19 — which could help the economic recovery.Contractions elsewhereHowever, in Germany, the economy contracted 1.7% over the same period. It's worse than the 1.5% decline that...
    For the first time ever, CNN’s Cuomo Prime Time was the most-watched cable news show in the valuable demographic of viewers age 25-54 for the first quarter of 2021. Cuomo was also CNN’s highest-rated show in both total viewers and in the demo for the quarter, according to data from Nielsen. Cuomo drew an average 658,000 viewers in the demo in the first quarter, and almost 2.5 million viewers total. MSNBC’s The Rachel Maddow Show was second in the demo, with 619,000, and was the most-watched show overall in the quarter, averaging 3.73 million viewers total. CNN’s Anderson Cooper 360 was third in the demo, with 611,000 viewers, and nearly 2.3 million viewers total. Notably, Cuomo had the most growth in cable news in app of prime time, up 66% in total viewers, and 50% in the demo, compared to the first quarter of 2020. The show also delivered CNN’s best overall rating in the 9 p.m. hour ever. The win for host Chris Cuomo mirrors CNN’s similar win in the demo for the quarter. CNN dominated in the...
123