Pedestrians walk past a German luxury fashion house Hugo Boss store in Shenzhen Bao'an International Airport.Alex Tai | SOPA Images | LightRocket | Getty Images)Hugo Boss shares plunged as much as 10% Tuesday after the company cut its sales outlook, becoming the latest high-end fashion line to warn of persistent...
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United Airlines profit jumps 23%, but third-quarter forecast disappoints amid industry overcapacity
United Airlines planes at Denver International Airport.Leslie Josephs | CNBCUnited Airlines' second-quarter profit rose more than 20% from last year as strong demand for international travel boosted the carrier's results, but its third-quarter forecast came in shy of estimates as an oversupply of flights weighs on fares.United said Wednesday that...
IMF sees ‘bumps’ in path to lower inflation
The International Monetary Fund warned Tuesday that upside risks to inflation have increased, calling into question the prospect of multiple Federal Reserve interest rate cuts this year. In its latest World Economic Outlook update, the IMF said "the momentum on global disinflation is slowing, signaling bumps along the path." The rise...
Fed Governor Waller sees central bank ‘getting closer’ to an interest rate cut
Federal Reserve Governor Christopher Waller on Wednesday suggested that interest rate cuts are ahead soon as long as there are no major surprises on inflation and employment."I believe current data are consistent with achieving a soft landing, and I will be looking for data over the next couple months to...
Wealth in Turkey grew the most in the world at 157% despite soaring inflation, according to ranking
Golden Horn and Bosphorus at sunset, Istanbul, TurkeyMatteo Colombo | Digitalvision | Getty ImagesTurkey came out miles ahead of the rest of the world in an annual global wealth ranking — in a result that may come as surprising, given the country's high levels of inflation."Türkiye stands out with a...