Microsoft Xbox, Sony PlayStation, Nintendo: Video game earnings round-up

A gamer plays on Sony’s Playstation 5 console at his home in Seoul. Yelim Lee | AFP via Getty Images The giants of the video game world saw their sales slide in the second quarter, as initial tailwinds from the Covid pandemic faded. In the three months ended June, Microsoft, Sony and Nintendo each posted … Read more

Senate passes Democrats’ sweeping climate, health and tax bill, delivering win for Biden

Washington — The Senate on Sunday passed Democrats’ sweeping economic package designed to combat climate change, address health care costs and raise taxes on large corporations, marking a crucial achievement for President Biden and his party as they look to maintain their hold on Congress in the November midterm elections. The plan, called the Inflation … Read more

Buffett’s firm reports $44B loss but its businesses thrive

OMAHA, Neb. (AP) — Warren Buffett’s company reported a $43.76 billion loss in the second quarter as the paper value of its investments plummeted, but Berkshire Hathaway’s many operating companies generally performed well suggesting the overall economy is weathering the pressure from inflation and rising interest rates. Berkshire said Saturday that a largely unrealized $53 … Read more

The US economy has yet to face its biggest recession challenge

A person removes the nozzle from a pump at a gas station on July 29, 2022 in Arlington, Virginia. Olivier Douliery | AFP | Getty Images You’d be hard-pressed now to find a recession in the rearview mirror. What’s down the road, though, is another story. There is no historical precedent to indicate that an … Read more

How SolarEdge plans to grow market share in Europe

SolarEdge shares tumbled this week after the company’s second-quarter results showed a hit to margins from factory closures, higher transport costs and currency headwinds from the weakening Euro. But SolarEdge CFO Ronen Faier said lower margins now is the price to be paid for long-term growth in a market where demand is skyrocketing. “We have … Read more

Stung by China’s tariffs, Australian growers embrace new markets | Agriculture

Sydney, Australia – Brett Hosking, a grain farmer in Victoria, Australia, has taken a significant cut in profits since China slapped an 80.5 percent tariff on Australian malt barley in 2020. Now, barley growers estimate that they are losing $50 Australian dollars ($35) per tonne, he said, because they are having to sell their quality … Read more

66% worry a recession is coming. What concerns each generation most

A customer shops in a Kroger grocery store on July 15, 2022 in Houston. Brandon Bell | Getty Images As experts debate whether the US is on the brink of an economic downturn, many Americans are already bracing themselves for a recession. To that point, 66% of Americans worry that a major recession is right … Read more

Productivity and focus must improve

Google CEO Sundar Pichai speaks on stage during the annual Google I/O developers conference in Mountain View, California, May 8, 2018. Stephen Lam | Reuters Google is launching a new effort called “Simplicity Sprint” in an effort to improve efficiency and improve employee focus during an uncertain economic environment. The Alphabet company had its regular … Read more

5 things to know before the stock market opens Friday, July 29

A screen displays the Fed rate announcement as a trader reacts on the floor of the New York Stock Exchange (NYSE) in New York City, US, July 27, 2022. Brendan McDermid | Reuters Here are the most important news items that investors need to start their trading day: 1. Taking stock on a summer Friday … Read more