Author: eypsn

Officials at multiple agencies warn that a tipping point is coming and that the situation will only get worse if it snowballs into a crisis. The national debt is now nearly the same size as the entire U.S. economy, about $27.3 trillion, and is expected to double over the next 30 years, according to the Council on Foreign Relations. Over the past few months, officials from multiple agencies, including the International Monetary Fund, the Congressional Budget Office and banking giant Goldman Sachs Group Inc., have warned that the country’s soaring debt is a big problem — worse than ever, in…

British stone. Helena, California – Duckhorn Portfolio, Inc. (NYSE: NAPA), a leading luxury wine company in North America, announced the appointment of Deirdre Mahlan as its permanent president, CEO and chairman of the board. Mahlan, who has been a board member since March 2021 and served as interim CEO for the past six months, has more than three decades of experience in the alcohol and beverage industry.Previously, Mahlan held various leadership roles at: Diageo (LON:), including President of Diageo North America and Chief Financial Officer of Diageo plc. She is also a member of the Board of Directors of Kimberly-Clark…

Anna Money Tree/Getty Images News “So far this year, the data does not give us more confidence” that inflation will continue to move toward the Fed’s 2% goal, Fed Chairman Powell said at Wednesday’s post-decision press conference. There are many policy restrictions Upon request, he said. “We believe that over time it will be sufficiently constrained.” 2:46 PM (ET): Powell said it was difficult to know what impact loose financial conditions would have on inflation. He noted that easier financial conditions in December did not lead to an acceleration in economic growth. 2:43 PM (ET): He does not expect the…

Middle East and North Africa-focused music streaming service Anghami reports 18% annual increase The number of paid subscribers increased in the first quarter of 2024.Meanwhile, its 2023 annual report showed that its operating losses narrowed despite “headwinds” from the war in Gaza and lower revenue due to the depreciation of the Egyptian pound.The number of premium subscribers reaches 1.87 million As of March 31, the end of the first quarter, the Nasdaq-listed company said in a statement released on Tuesday (April 30).Angami reported 8% annual increase The increase in revenue for the quarter was primarily due to 27% Subscription revenue…

It’s finally here: the long-predicted consumer retreat.Starbucks The company announced an unexpected drop in same-store sales in the latest quarter, sending its shares down 17% on Wednesday. Pizza Hut and KFC also reported shrinking same-store sales.Even firm McDonald’s said has adopted a “street fighting mentality” to compete for value-conscious diners.Economists have been predicting for months that consumers would cut back on spending in response to higher prices and interest rates. But it took the fast-food chain a while to see its sales actually shrink, despite warning investors for several quarters that lower-income consumers were weakening and other diners were abandoning…

The Federal Reserve stressed on Wednesday that inflation has remained stubbornly high in recent months and said it does not plan to cut interest rates until it is “more confident” that price increases will continue to slow to its 2% target. The Federal Reserve issued a statement after its latest meeting, keeping its key interest rate at a two-decade high of 5.3%. Several recent warmer-than-expected reports on prices and economic growth have undermined the Fed’s belief that inflation is steadily slowing. The combination of high interest rates and persistent inflation also poses a potential threat to President Joe Biden’s re-election…

WASHINGTON (Reuters) – The U.S. International Trade Commission is investigating claims by GoPro that a Chinese company that imports similar products into the United States infringes on patents for its cameras, systems and accessories.The U.S. International Trade Commission said in an announcement on Wednesday that the investigation under Section 337 of the Trade Act of 1930 applies to Shenzhen-based Arashi Vision, which makes the Insta360 series of camera products.GoPro, whose brand name is largely synonymous with the wearable action camera market, has asked a trade panel to issue an exclusion and cease-and-desist order banning the import of Insta360 products.GoPro’s complaint…

miodrag ignjatovic/E+ via Getty Images Omega Healthcare (NYSE: OHI) operating issues may have been factored into the REIT’s first-quarter consensus forecast, but dividend safety has become an issue. OHI is scheduled to report first-quarter earnings results after the market close on Thursday, May 2. Consensus FFO estimate of $0.65 (-1.95% Y/Y) Consensus revenue estimate is $199.91 million (up 8.00% year over year). The real estate investment trust that owns skilled nursing and assisted living facilities reported fourth-quarter 2023 earnings and revenue that were down from the prior quarter but still better than expected as the operators remain in the restructuring…

A group of British lawmakers from across the political spectrum have backed a new report calling for market regulation of artificial intelligence to protect human music creators.The report calls for the UK to pass new laws to protect artists’ personalities from being copied without permission by AI; to mandate transparent labeling of AI-generated content; and to require AI developers to obtain permission from copyright holders to use their material. training etc.The report was published by the All-Party Parliamentary Group on Music, an informal group including members of the House of Commons and the House of Lords, and funded by the…