With aircraft demand pulling back sharply following recent strength, the Commerce Department released a report on Thursday showing new orders for U.S. manufactured durable goods tumbled by more than expected in the month of July. The Commerce Department said durable goods orders plunged by 5.2 percent in July after surging by a revised 4.4 percent in June. Economists had expected […]

South Korea’s central bank retained its key interest rate for the fifth consecutive meeting and reiterated to keep the policy restrictive. The Monetary Policy Board of the Bank of Korea, governed by Rhee Chang-yong, decided to leave its policy rate at 3.50 percent. The policy rate has been raised by a cumulative 300 basis points since August 2021, taking it […]

Organic and natural products company Hain Celestial Group, Inc. (HAIN) reported Thursday a loss in its fourth quarter, compared to prior year’s profit, amid weak sales. For fiscal 2024, the company projects higher adjusted earnings and sales. Separately, the company announced that Lee Boyce will succeed Chris Bellairs as Chief Financial Officer, effective September 5. In the fourth quarter, the […]

Existing home sales in the U.S. slumped by much more than expected in the month of July, according to a report released by the National Association of Realtors on Tuesday. NAR said existing home sales tumbled by 2.2 percent to an annual rate of 4.07 million in July after plunging by 3.3 percent to an annual rate of 4.16 million […]

Apparel retailer Abercrombie & Fitch Co. (ANF) on Wednesday reported earnings for the second quarter, compared to a loss in the prior year quarter. The earnings beat market estimates. Further, the company issued its third-quarter outlook, and raised its fiscal 2023 earnings and revenue guidance. The company reported quarterly net earnings of $56.89 million or $1.10 per share, compared with […]