Investments and Business

Walmart on Thursday raised its full-year guidance following a nearly 5% increase in quarterly revenue, fueled by increased activity at its brick-and-mortar stores and online platform, along with better-than-expected sales in non-food categories. The retail giant beat Wall Street forecasts in both revenue and profit, sending its stock price up 6% during morning trading. Walmart now expects full-year sales to rise 3.75% to 4.75%, with adjusted earnings per share between $2.35 and $2.43. The outlook change marks a change from previous projections, which called for sales growth of 3% to 4% and earnings per share between $2.23 and $2.37. Despite…

UBS CEO Sergio Ermotti has been cautious about the potential for a U.S. economic recession, despite recent market turmoil. While acknowledging the possibility of a slowdown, Ermotti stressed the need for greater clarity on macroeconomic indicators before definitively predicting a recession. The banking giant expects more market volatility in the coming months, driven by factors such as the U.S. presidential election and ongoing geopolitical tensions. The Federal Reserve's monetary policy path also remains a key uncertainty, with UBS expecting a rate cut of at least 50 basis points this year. As the global economy faces these challenges, investors must prepare…

Chipotle Mexican Grill is undergoing a leadership change: CEO Brian Niccol is stepping down to take over at Starbucks. The unexpected announcement sent shockwaves through the market, with Chipotle shares dropping nearly 10% on the news. Niccol’s departure marks the end of an era for Chipotle, one marked by significant growth and recovery from past challenges. Under his leadership, the company successfully navigated the foodborne illness crisis and capitalized on changing consumer preferences. Chipotle’s board of directors has named Chief Operating Officer Scott Boatwright as interim CEO, retaining Chief Financial Officer Jack Hartung to ensure a smooth transition. While the…

Chinese electric vehicle (EV) maker Zeekr has made waves in the industry by unveiling a new battery technology that promises ultra-fast charging capabilities. The company says its latest innovation can recharge a battery from 10% to 80% in just 10.5 minutes, beating the charging speeds currently offered by industry leader Tesla. Zeekr’s breakthrough comes as the electric vehicle market intensifies its focus on addressing range anxiety and charging infrastructure limitations. By significantly reducing charging times, the company aims to appeal to consumers who have been hesitant to adopt EVs due to perceived inconveniences. The company’s new battery technology will initially…