The latest on the Russia–Ukraine crisis, June 2. Click here for updates from June 1. Russia Warns US Rocket Supplies Could Widen Ukraine Conflict Russian Foreign Minister Sergei Lavrov said on Wednesday that the supply of advanced rocket launchers to Ukraine by the United States raised the risks of a “third country” being drawn into…
LIVE UPDATES: Russia Warns US Rocket Supplies Could Widen Ukraine Conflict
LIVE UPDATES: Russia Tightens Grip on Ukrainian Factory City, Decries US Rocket Supplies
The latest on the Russia–Ukraine crisis, June 2. Click here for updates from June 1. Russia Tightens Grip on Ukrainian Factory City, Decries US Rocket Supplies Russian forces tightened their grip on an industrial Ukrainian city as part of their drive to control the eastern Donbass region and targeted rail links used to ferry in…
9 Salesforce Analysts React to Q1 Earnings Beat: ‘Next Quality Software GARP Stock’
Salesforce Inc. shares jumped Wednesday morning after the company reported first-quarter earnings and raised its profit forecast. On Tuesday, Salesforce reported adjusted first-quarter EPS of 98 cents on $7.41 billion in revenue. Both numbers beat consensus analyst estimates of 94 cents and $7.38 billion, respectively. Revenue was up 24 percent from a year ago. Service Cloud…
Australian Economy Expands in March Quarter Despite COVID-19 and Flood Crisis
The Australian economy recorded marginal growth in the first quarter of 2022, even though the country suffered from the impacts of the flood crisis and the COVID-19 Omicron variant. According to the March quarter national accounts, the economy expanded by 0.8 percent, a far cry from the revised 3.6 percent growth in the December quarter….
Soros’s Money Manager Warns Recession is ‘Inevitable’
Dawn Fitzpatrick, chief investment officer for Soros Fund Management, described a recession as “inevitable” in a recent interview, but noted that she was not overly concerned about the general health of the economy. “The bottom line is a recession is inevitable—it’s a matter of when,” said Fitzpatrick in an interview with Bloomberg Business on Tuesday….
Mortgage Applications Drop Amid High Interest Rates and Affordability Concerns
June 1, 2022
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Mortgage applications in the week ending May 27 declined to their lowest level in more than three years, according to the Mortgage Bankers Association (MBA). The Market Composite Index, a measure of mortgage loan application volume, fell by 2.3 percent on a seasonally adjusted basis for the May 27 week compared to the week prior,…
Job Openings Remain Near Record High as Labor Market Continues to Tighten
Total employment openings fell by 455,000 to 1.4 million in April, as the large gap between vacant positions and available workers narrowed, according to the Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS) from June 1. The decline in job openings is in decline from an upwardly revised 11.855 million in March, approximately…
Tesla’s EV Lead Outstrips Industry Rivals, but Not for Long, Says Volkswagen CEO
Tesla, the world’s leading electric vehicle manufacturer, is moving at twice the speed than its competitors, said Herbert Diess, CEO of Volkswagen AG, the world’s second-largest EV manufacturer, at a June 1 conference at the CAR Symposium conference in Bochum, Germany. Tesla has managed to secure its position despite factory shutdowns, a lack of computer chips, and…
Elon Musk Confirms This 9,000-Ton Machine Will Build Tesla’s Cybertruck
Tesla Inc CEO Elon Musk on Tuesday confirmed the electric vehicle maker’s hotly-anticipated light-duty Cybertruck will be built by a new 9,000-ton Giga Press built by die casting company Idra Group. What Happened The billionaire entrepreneur was responding to a Twitter post showing a video of a new 9,000-ton Giga Press being assembled. Musk replied…
JPMorgan Chase CEO Says Brace for Economic ‘Hurricane’ Due to Inflation
The United States is looking at an economic “hurricane” of challenges down the road and the Federal Reserve must take strong precautions to avoid a recession, a top banking official has warned. “It’s a hurricane,” Jamie Dimon, CEO of JPMorgan Chase & Co., told a banking conference, adding that it was unprecedented. “Right now, it’s…
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