The existing home sales market is facing a major crisis, with sales reaching a 30-year low. In May, sales remained stagnant, dropping by 0.7% from April to a seasonally adjusted, annualized rate of 4.11 million units. This reflects a 2.8% decrease from the same period last year. Lawrence Yun, chief economist at the National Association
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Forever 21, a once prominent fast fashion player, is now facing a myriad of challenges as it struggles to keep up with competitors in an oversaturated market. With more than 380 stores in the U.S., the retailer has asked landlords for a significant reduction in rent, demonstrating the extent of its financial difficulties. Despite its
Darden Restaurants recently reported its quarterly results, which showed a mixed performance for the company. Despite an increase in net sales by 6.8%, the same-store sales of Olive Garden, one of their prominent chains, fell for the second consecutive quarter. This is concerning as same-store sales are an important indicator of a company’s health in
In recent years, the box office has been lacking a significant presence of family films. However, the landscape has been shifting with a resurgence of kid-friendly hits making their way to cinemas. The impact of the pandemic led to many family features debuting on streaming platforms rather than on the big screen, causing a noticeable
Senator Elizabeth Warren from Massachusetts has publicly accused Federal Reserve Chair Jerome Powell of being influenced by the financial industry. Warren claims that Powell is considering changes to important regulations that would impact the capital buffer that large American banks are required to maintain. This accusation comes after reports surfaced that Powell is advocating for
Boeing CEO Dave Calhoun is set to testify before a Senate panel to address the company’s safety and manufacturing crises. This comes after a door panel blew out of a nearly new 737 Max 9 jet in January, further adding to Boeing’s challenges. Calhoun, who has announced his intention to step down before the end
The Food and Drug Administration recently approved Merck’s new vaccine, Capvaxive, which is designed to protect adults from the bacteria pneumococcus that can lead to serious illnesses such as pneumonia. This groundbreaking vaccine specifically targets 21 strains of the bacteria, aiming to prevent a severe form of pneumococcal disease that can result in pneumonia. The
Over the past weekend, Disney and Pixar made a significant impact on the box office with the release of “Inside Out 2.” The film debuted with an impressive $155 million domestically, marking it as the second-highest theatrical opening for an animated film. This success comes after Warner Bros.’ “Barbie” was the first film since to
Boeing’s Starliner capsule, named “Calypso,” is set to remain at the International Space Station for an extended period due to a developmental mission announced by NASA on Friday. Originally planned for a nine-day stay in space, the mission will now last at least 17 days, doubling the duration for further spacecraft testing. This mission, known
The Pentagon recently revealed the first batch of winning bidders in its rocket launch contract sweepstakes, marking a significant milestone for Jeff Bezos’ aerospace company, Blue Origin. This announcement comes as part of the Pentagon’s $5.6 billion National Security Space Launch (NSSL) program, which aims to enhance the country’s space capabilities and infrastructure. Blue Origin’s