Author: Jamie Carpenter

Supreme Court decision could reshape motor finance industry The United Kingdom’s Supreme Court is set to deliver a pivotal ruling on Friday concerning car finance commissions — a decision that could lead to multibillion-pound compensation payouts from major banks and lenders. The verdict, expected after 1535 GMT once London markets close, may have sweeping implications for the £40 billion-per-year motor finance industry. At the heart of the case is whether car loan brokers were receiving “secret” commissions without fully informed customer consent. A 2024 Court of Appeal judgment determined that such commissions make lenders liable, prompting a wave of claims…

Strong IPO signals market confidence in design tech Figma shares soared over 5% on Friday, building on a massive 250% gain during its New York Stock Exchange debut the previous day. The stock, listed under the ticker FIG, opened at $85 and closed Thursday at $115.50. On Friday, it traded above $120, marking one of the most successful tech IPOs in recent years. This impressive debut comes after a prolonged IPO slowdown across the tech sector. Figma joins a growing list of private companies entering the public markets in 2025, including CoreWeave, Hinge Health, Circle, Omada Health and Chime. The…

Inflation edges up in June Inflation climbed in June, with the Federal Reserve’s preferred metric rising 2.6% year over year, according to data from the Commerce Department. This marks an increase from May’s 2.4% pace. Core prices, which exclude food and energy, remained steady at 2.8%—a figure that surpasses the Fed’s 2% target. On a monthly basis, both overall and core prices rose by 0.3%. The increase in inflation is seen as partly driven by recently enacted tariffs, which have affected the pricing of imported goods. Rate cuts remain uncertain The inflation uptick contributed to the Fed’s decision this week…

Strong Retail and Insurance Segments Drive Results CVS Health reported second-quarter earnings and revenue that exceeded Wall Street expectations, sending shares up more than 6% in early trading. The company raised its full-year adjusted profit forecast to a range of $6.30 to $6.40 per share, up from previous guidance of $6 to $6.20, citing improved performance in its retail pharmacy and insurance units. CVS CEO David Joyner attributed the results to operational gains at Aetna and efficiency improvements in pharmacy services. While he noted ongoing challenges in the insurance segment, Joyner emphasized that CVS is navigating those pressures through strategic…

Stronger Consumer Activity and Lower Imports Fuel Growth The U.S. economy outperformed expectations in the second quarter, with gross domestic product rising 3% from April to June, according to the Commerce Department. The figure, adjusted for inflation and seasonal trends, exceeded the Dow Jones estimate of 2.3% and marked a sharp recovery from the first-quarter decline of 0.5%. This growth was driven largely by a massive 30.3% drop in imports, which subtract from GDP, and a rebound in consumer spending, which climbed 1.4% after a sluggish 0.5% gain in the previous period. The report comes amid ongoing trade tensions and…

Meta Doubles Down on AI Strategy Just hours before Meta’s second-quarter earnings release, CEO Mark Zuckerberg published a detailed letter outlining his long-term vision for artificial intelligence. The focus: “personal superintelligence,” an approach he says differs from the industry’s more centralized ambitions. While tech rivals like OpenAI and Google aim to automate entire industries with AI, Zuckerberg framed Meta’s goal as empowering individuals through AI tools. “Superintelligence should enhance human capability, not replace it,” he wrote, contrasting Meta’s approach to others pursuing mass automation. Massive Investment in AI Infrastructure Meta’s actions this year back up its rhetoric. In June, the…

Talks Accelerate as Goldman Backs Out Apple and JPMorgan Chase are reportedly in advanced negotiations for JPMorgan to take over the Apple Card credit program, replacing Goldman Sachs as the issuing partner. According to The Wall Street Journal and CNBC, the discussions have accelerated significantly in recent months, while talks with other contenders such as American Express and Barclays have stalled. Goldman Sachs, which originally launched the Apple Card with Apple in 2019, has been looking to exit the partnership due to concerns over profitability and exposure to consumer credit risk. The investment bank cited rising losses and regulatory scrutiny…

Profit Outlook Pressured by Tariffs Procter & Gamble is bracing for a challenging fiscal year ahead, warning investors on Tuesday that new tariffs will reduce profits by $1 billion. The consumer goods giant said this impact will weigh on its earnings-per-share guidance, with the lower end of the range falling short of Wall Street expectations. Despite the caution, shares edged slightly higher in premarket trading following better-than-expected fourth-quarter results. The tariff-related pressure comes as the company navigates a shifting global trade landscape, with new U.S. import duties reshaping costs for global manufacturers. Trump administration policies continue to impact multinational companies…

Wall Street edges up as investors digest new deal U.S. equities made modest gains Monday after the announcement of a new trade agreement between the United States and the European Union. The deal imposes a 15% import tariff on most EU goods while opening significant sectors of the European market to American companies. In exchange, the EU has committed to invest $600 billion into the U.S. economy. While some analysts see this as a win for Washington, the restrained stock market reaction suggests investors are awaiting further clarity. By midday, the Nasdaq climbed 0.30% and the S&P 500 rose slightly,…

Bank of Canada to update rate and policy outlook All eyes are on the Bank of Canada this Wednesday as it announces its latest interest rate decision and releases a fresh monetary policy report. With core inflation hovering around 3% and recent job numbers showing unexpected strength, economists anticipate the central bank will maintain its current policy rate at 2.75%. The announcement will be closely analyzed for any shift in tone regarding inflation or economic growth outlook. Markets will also monitor Governor Tiff Macklem’s remarks for signals on how long the bank might hold rates steady, especially as global uncertainty…