Business

More news - News 24 hours On Wednesday, TJX Companies, the parent company of discount retailers Marshalls, HomeGoods and TJ Maxx, announced an upward adjustment to its full-year earnings forecast after a strong sales quarter. The new projection is set at $4.09 to $4.13 per share, slightly below LSEG’s previous estimate of $4.14. For the next quarter, TJX expects its earnings per share to be between $1.06 and $1.08, below the $1.10 analysts expected. This earnings season has shown that even retailers that missed expected numbers haven’t seen significant declines in their stocks, which suggests investors may be bracing for a volatile second half of the year, potentially impacted by the U.S. presidential election and expected Federal Reserve rate adjustments. Reflecting this se...

More news - Recent news Edgar Bronfman Jr. has made a major offer to acquire a major stake in Global Paramount, potentially ensuring that Shari Redstone remains a key figure within the organization. A source familiar with the negotiations said Bronfman's offer includes a clause that Redstone, who currently serves as Paramount's non-executive chairman, will continue his involvement with the company. This condition is contingent on his offer being accepted by Paramount's special committee by National Amusements, the major shareholder. Bronfman reportedly secured $6 billion to outbid Skydance Media for control of National Amusements, a company originally founded by Sumner Redstone. Both Bronfman and Skydance's competing bids include plans to buy shares from Paramount Global's common sha...

Related media - Recent news On a crucial Friday, Federal Reserve Chairman Jerome Powell laid out the groundwork for upcoming interest rate cuts, but gave no details on the expected timing or scope of those cuts. In his highly anticipated speech at the Federal Reserve’s annual meeting in Jackson Hole, Wyoming, Powell announced, “It’s time to change our approach.” He explained that while the future course is set, the specifics of the timing and size of rate cuts will depend on new data, future economic projections and risk assessments. Live Update: Chairman Jerome Powell Speaks at Jackson Hole Conference As financial markets anticipate future monetary policy guidance, Powell focused on dissecting the underlying causes of inflation. This analysis follows a vigorous period from March 202...

Related media - Recent news The U.S. government under the Biden administration announced Friday that it will once again provide free at-home COVID-19 testing kits to American families starting in late September, following a resurgence of the virus across the country this summer. In a press conference, officials said Americans can request up to four free tests per household through COVIDtests.gov. The tests are designed to identify prevalent COVID variants, primarily derivatives of the Omicron JN.1 strain, which is known to be highly transmissible. Dawn O'Connell, assistant secretary for preparedness and response at the Department of Health and Human Services (HHS), highlighted the initiative's role in safeguarding families during the colder months ahead. "This marks the seventh insta...

More news - News 24 hours The rapid growth of online sports betting, following its legalization in several states, has significantly affected the dynamics of personal finances, especially among economically vulnerable groups. Study insights A recent analysis titled “Gambling Away Stability: The Financial Repercussions of Sports Betting on At-Risk Families” highlights the dramatic increase in sports betting following the 2018 Supreme Court decision overturning a nationwide ban. With 38 states now allowing the activity, the industry has boasted more than $120 billion in wagers and generated revenues of more than $11 billion in 2023. This influx of funds has benefited government budgets but has placed significant financial burdens on gamblers and their families, particularly those facin...