This week, New York City-based JPMorgan announced that it intends to buy a nearly 75 percent majority stake in Volkswagen’s payments division. The Volkswagen arm will be under JPMorgan’s wholesale payments division business. Over the past year, JPMorgan has made several investments and acquisitions. Earlier this year, the investment...
U.S. sales last month for Detroit automaker Ford were 33.1 percent lower than last year amid a massive semiconductor chip shortage across the world. The lack of chips is devastating the automotive industry. The company’s adjusted selling rate was 13.09 million vehicle sales last month. It marked Ford’s worst...
The S&P 500 pandemic low occurred on March 23, 2020, ending the session at 2,237.40. Today, nearly 17 months later, the broad equity index more than doubled that low, closing the trading day at 4479.71, up from the previous closing by 0.3 percent. Typically, it takes a bull market over...
According to the Bureau of Labor Statistics, consumer prices saw an increase of 5.4 percent during July compared to the same period one year ago, slightly higher than economists had predicted. High demand and supply chain interruptions are blamed for the higher costs. In a month-to-month comparison, the index saw...
Many businesses want their workforces back in force and healthy. According to Indeed, the number of open job postings requiring a COVID-19 vaccine was 34 percent higher than the previous month. The news comes as the delta variant of the virus is surging in many states across the U.S.,...
The U.S. government has requested that OPEC and the organization’s oil-producing allies increase their oil production due to increasing gas prices. The administration is concerned that rising inflation prices will hinder recovery from the pandemic. The White House has also asked regulators to investigate prices at the pump. This past...
Scientific studies show that Moderna may be more effective against the COVID 19 delta variant than the Pfizer/BioNTech mRNA vaccine. MedRxiv posted two reports on Sunday highlighting the studies’ findings. The studies showed that the odds of a breakthrough COVID-19 diagnosis rise with time. Anyone who received a second dose...
Google’s parent company, Alphabet, has reportedly exceeded the expectations of Wall Street analysts concerning its advertising growth. The company’s advertising revenue crushed expectations. For Q2 2021, the company’s revenue was estimated to be around $61.88 billion compared to the $56.16 billion that was anticipated. Google’s Cloud revenue was also better...
Backup power generation company Generac has posted record sales numbers for the second quarter of 2021. But the company warned investors and consumers that supply issues are hampering production and raising costs. At one point on Wednesday, Generac shares fell by almost 13 percent. The stock’s performance on the...
The housing boom may just be over as sales of new homes have fallen to their lowest since the pandemic arrived in 2020. According to the U.S. Census Bureau, new, single-family home sales are at an annualized rate of 676,000. The figure is 6.6 percent lower than May’s count of...