Business

Rescheduled from Nov. 25–26 to Nov. 30, meetings of the powerful Organization of the Petroleum Exporting Countries and its allies, or OPEC+, sent prices plunging more than $3 per barrel in intraday trade on Thursday. At 13:50 London time, the Ice Brent contract with January delivery was trading at $79.05 per barrel, down $3.40 from […]

Following the Organization of Petroleum Exporting Countries’ decision to postpone a crucial meeting on production cuts for this weekend, U.S. crude prices fell on Wednesday. The West Texas Intermediate contract for January saw a morning drop of roughly 5% to $73.85 a barrel, but it recovered most of those losses. The final price of US

Following a decline in consumer spending on do-it-yourself projects that resulted in a nearly 13% year-over-year decline in sales during its fiscal third quarter, Lowe’s lowered its sales projection for the entire year on Tuesday. On Tuesday, the company’s shares dropped by roughly 3%. According to the home improvement retailer, its current projection for sales

American Eagle’s stock fell by almost 16% on Tuesday following the release of an unimpressive holiday forecast by the company. American Eagle anticipates sales growth in the high single digits for the holiday quarter, exceeding the 3.4% growth in sales that analysts had projected, as reported by LSEG. However, according to Street Account, it anticipates

According to the National Association of Realtors, sales of previously owned homes decreased 4.1% in October from September to October at a seasonally adjusted annualized rate of 3.79 million units. Since August 2010, the sales pace had not been this low. A lesser decline to 3.9 million units was anticipated by analysts. Sales decreased 14.6%

Best Buy reduced its sales projection for the entire year on Tuesday as it gets ready for budget-conscious holiday shoppers and weathers a period of slower demand. While revenue was lower than expected, the retailer of consumer electronics outperformed Wall Street’s expectations for quarterly earnings. Best Buy stated that it has revised its revenue projections

Ford Motor is reducing its plans for a $3.5 billion battery plant in Michigan due to labor cost increases, a slower-than-anticipated shift in consumer preference toward electric vehicles, and cost-cutting measures. The facility was originally announced in February by Ford executives, including Chair Bill Ford and CEO Jim Farley. Its ties to Contemporary Amperex Technology

Thanks to a consistent influx of new customers and an astounding 86% increase in revenue, Urban Outfitters’ clothing rental service Nuuly managed to turn a profit for the first time. This achievement came before rival Rent the Runway, which has not turned a profit in almost 15 years of operation. During its fiscal third quarter,