US economy shrinks for a 2nd quarter, raising recession fear
WASHINGTON (AP) — The U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace and raising fears…
AP Wire
Nestle reports higher sales even as it raises prices
VEVEY, Switzerland — Global food giant Nestle, which makes everything from Purina pet food to KitKat candy bars and Gerber baby food, reported higher sales…
MasterCard: Q2 earnings snapshot
PURCHASE, N.Y. — MasterCard Inc. today reported second-quarter earnings of $2.28 billion. On a per-share basis, the company said it had profit of $2.34. Earnings,…
US not yet in recession and 4 other takeaways from the Fed
WASHINGTON — Jerome Powell delivered a tough message at the start of a news conference Wednesday: Inflation is way too high, and the Federal Reserve…
Samsung logs 12% profit increase in 2Q on strong chip demand
SEOUL, South Korea — Samsung Electronics Co. has reported its operating profit rose 12% in the April-June quarter thanks to strong demand for server chips….
Shell posts record earnings again as energy prices soar
LONDON — Shell posted record profits today for a second straight quarter as the energy giant benefited from soaring prices of oil and natural gas…
Nissan’s profits plunge on COVID lockdown, chips crunch
TOKYO — Japanese automaker Nissan’s profit plunged in the last quarter to less than half of what it was a year earlier as the COVID-19…
Hershey: Q2 earnings snapshot
HERSHEY, Pa. — Hershey Co. today reported second-quarter profit of $315.6 million. The company said it had profit of $1.53 per share. Earnings, adjusted for…
JetBlue buys Spirit for $3.8 billion
JetBlue is buying Spirit Airlines for $3.8 billion, creating the nation’s fifth largest airline. The agreement today comes a day after Spirit’s attempt to merge…
Fed unleashes another big rate hike in bid to curb inflation
WASHINGTON — The Federal Reserve on Wednesday raised its benchmark interest rate by a hefty three-quarters of a point for a second straight time in…