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According to the US Department of Commerce, wholesale inventories in the country increased by 1% in August after rising 0.6% a month earlier. In annual terms, the growth of reserves amounted to 5.3%. Expected further growth in wholesale stocks amid high domestic demand could significantly affect US GDP growth in the third quarter. Stocks of cars in August rose by 3.5%, whereas in the previous month their decline was recorded by 1%. The growth of stocks of agricultural products amounted to 4.9%, of equipment - 0.5%, of oil - also 0.5%. Wholesalers in August increased sales by 0.8%.
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
Intel Corp. (INTC.O) announced on Monday that Chief Engineering Officer Murthy Renduchintala would leave the company on August 3. The semiconductor manufacturing company said that it would reorganize its technology, systems architecture, and ...
On Wednesday, Tesla Inc. (TSLA.O) posted its second-quarter profit worth $104 Million from April to June despite shutting down its electric vehicle factory in Fremont, California for roughly seven weeks due to the coronavirus pandemic. Tesla ...
Asian shares fell on Thursday as the U.S.-China tensions overshadowed hopes for more economic stimulus after Washington ordered the closure of Beijing’s consulate in Houston amid spying allegations. China called the order an “unprecedented ...
Backed by record-low mortgage rates, U.S. home sales reached its strongest record in June. However, the outlook for the housing market remained murky as low inventory and high unemployment rate pressed amid the virus crisis. Existing home ...
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