Investors were alarmed at suggestions by Jerome Powell, the Federal Reserve’s chairman, that interest rates could go even higher in a bid to halt inflation.
Category: Company Reports
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Investors Fear a Recession Spurred by the Fed’s Inflation Fight
The New York Times – Business: -
Adidas Wants to Move On but Still Has $1.3 Billion in Yeezy Sneakers
The New York Times – Business:After severing business ties with the rapper Ye, Adidas said it would cut its dividend and declared 2023 a “transition year.”
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Why Companies Are Pushing Premium Products With Higher Prices
The New York Times – Business:Companies are trying to maintain fat profits as the economy changes, making “premiumization” their new favorite buzzword.
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Retailers Lay Out a Downbeat Outlook as Inflation Squeezes Low-Income Shoppers
The New York Times – Business:Despite better-than-expected earnings, retail executives predict that any sales growth will be much smaller than in years past.
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Salesforce Faces Mounting Investor Pressure As Profits Sag
The New York Times – Business:The software giant faces mounting pressure from activist investors and pushback from employees unhappy about a wave of firings and the scaling back of office perks.
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Rivian Lost $6.8 Billion Last Year as Production Fell Short
The New York Times – Business:The maker of electric trucks said it expected to double production in 2023 as the supply of parts became more reliable.
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Berkshire Hathaway Reports Major Investment Losses in 2022
The New York Times – Business:After a $22.8 billion loss, Warren Buffett called the figure “100 percent misleading” and urged shareholders to focus on his empire’s overall health.
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Lucid Motors Steps Up Production as Supply Chain Problems Ease
The New York Times – Business:The maker of electric luxury sedans said it made more than 7,000 cars in 2022, achieving a scaled-down target.
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Walmart Warns That Shoppers Are Feeling the Squeeze of Higher Prices
The New York Times – Business:The retail giant reported strong results for the holiday shopping season, but said that the coming year would be tougher.
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Norfolk Southern’s Profits and Accident Rates Rose Before Ohio Derailment
The New York Times – Business:Safety experts say a focus on financial returns may be partly to blame for derailments and accidents like the one in Ohio.
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Magic: The Gathering Generates $1 Billion in Sales for First Time
The New York Times – Business:The fantasy card game has surpassed the sales of the 100-year-old company’s other brands, including Transformers and G.I. Joe, but some are worried about the downsides of rapid growth.