(Reuters) -Nikola missed Wall Street expectations for first-quarter revenue on Tuesday, as the electric truck maker delivered fewer hydrogen fuel cell trucks amid an uncertain macroeconomic outlook and reduced spending by customers. The company reported revenue of $7.5 million, missing expectations of $15.8 million, according to LSEG data. Its shares fell 5.8% before the bell. […]
May 6—ELLENSBURG — Washington’s economy, its job market and unemployment were topics of discussion at the annual Economic Outlook Conference on Monday at Central Washington University. Dave Reich, executive director of the Washington State Economic and Revenue Forecast Council, said the state is still dealing with the aftereffects of 2020. “I would say, economically, COVID […]
SYDNEY (Reuters) – Global economic weakness and a slowing domestic economy were among the reasons Australia will report a smaller revenue increase in its federal budget for the year ended June 30 compared to recent years, the government said on Sunday. The Labor government is expected to report a budget surplus on May 14, although […]
AP Photo/Jason DeCrow Stocks soared Friday after a light April jobs report gave investors hope of a rate cut sooner than later. Expectations have been pushed out in recent weeks following a series of hot economic data. The US economy added 175,000 jobs last month, below expectations of 238,000. US stocks soared Friday after a […]
The U.S. economy might be out of the frying pan and into the fire. After months—even years—of planning for a recession, the country may find itself facing a different sort of calamity: stagflation. A new report released yesterday by the Commerce Department showed GDP growth slowing sharply, while certain inflation metrics crept up, leaving Wall […]
NEW YORK (Reuters) – U.S. economic growth slowed more than expected in the first quarter, but a surprisingly hot quarterly Personal Consumption Expenditure inflation component suggested that the Federal Reserve would not cut interest rates before September. Gross domestic product increased at a 1.6% annualized rate last quarter, the Commerce Department said in its advance […]
A logo with the inscription “Boeing” pictured on a hall of the Boeing distribution center. Georg Wendt/dpa US aircraft manufacturer Boeing on Monday told employees it is currently unable to expand production of its long-haul 787 Dreamliner model as quickly as planned due to supply bottlenecks, broadcaster CNBC reported. The company told employees at its […]
WICHITA, Kan. (KSNW) – A major ramp on I-135 is closing starting Monday. The southbound I-135 ramp to westbound Kellogg will be shut down for more than a month. That means for people living northeast of Kellogg, it’s shaping up to be a major setback A project set to last until mid to late May […]
(Reuters) -Tesla missed market expectations for first-quarter deliveries on Tuesday, as it battled competition from upstarts and established players in major markets, while struggling with weak demand for its aging line-up of electric cars. Tesla shares fell 6.9% before the bell, adding to the nearly 30% slide in value so far this year. The world’s […]
Global warming has slightly slowed the Earth’s rotation — and it could affect how we measure time. A study published Wednesday found that the melting of polar ice — an accelerating trend driven primarily by human-caused climate change — has caused the Earth to spin less quickly than it would otherwise. The author of the study, Duncan […]
By Linda Pasquini and Marleen Kaesebier (Reuters) -Hugo Boss on Thursday forecast sales and operating profit for 2024 below market expectations and said it 2025 sales target might be slightly delayed, blaming weak consumer demand, especially in some European markets. The German fashion house sees earnings before interest and taxes (EBIT) of 430-475 million euros […]
BEIJING (AP) — It’s clear that China’s efforts to build confidence in its slowing economy will top the agenda of its ceremonial national legislature, which convenes Tuesday in Beijing. What remains unclear is how the ruling Communist Party can navigate toward stronger, sustained growth as China’s workforce is aging, relations with Washington are fraught, and […]