US Economy Contracts For A Second Straight Quarter
According to the Commerce Department, the US economy has contracted for a second straight quarter.
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Barclays Profits Slump Following Costly US Trading Error
British bank Barclays has seen its profits tumble 24% in the first half following a costly trading error in the US. A charge to cover loan losses during the cost of living crisis has also impacted the bank’s books.
40% Of US Employees Are Planning On Resigning Soon
So far this year, over 4 million people have left their jobs each month in the US and, according to new research, this is a trend set to continue across the coming months.
Political Instability Prompts SoftBank Hits Pause On Arm’s London Listing
Japan’s SoftBank has reportedly hit pause on plans to explore a London listing of Cambridge-based chip designer Arm due to the political upheaval in the UK government following Prime Minister Boris Johnson’s resignation.
US Inflation Is Rising Quicker Than Expected
In June, the Consumer Price Index (CPI) jumped 1.3% compared to the 1% increase seen in May, serving as a clear sign that inflation is still running rampant.
