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Amazon, Apple earnings to provide look at consumer habits

30Jul

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Technology

Amazon, Apple earnings to provide look at consumer habits

[ad_1] Consumer habits will come to the fore again in next week's earnings deluge, when Amazon.com Inc., Shopify Inc. and PayPal Holdings Inc. are expected to talk about online spending trends and Apple Inc. may comment on the outlook for iPhone sales.It follows a packed week that showed the US economy and consumer spending growing at a faster clip than expected, while corporate earnings delivered a few surprises of their own. Intel Corp. surged post-market after the chipmaker signaled its long-awaited comeback may be just around the corner; McDonald's Corp. and Mastercard Inc. also topped estimates. Thus far, US companies have registered the most earnings beats in almost two years, according to data tracked by Bloomberg Intelligence, and companies selling non-essential products and ser...

Tesla’s struggle to lure buyers paints a grim economic picture

[ad_1] Thinning profits at Tesla Inc. and signs of broader weakness in the US auto industry are sending ominous signals for the US economic outlook.Tesla's troubles are no secret as Elon Musk's company has repeatedly cut prices to lure reluctant buyers. But the problem goes beyond the high-profile electric-vehicle maker: Auto-lending giant Ally Financial Inc.'s first-quarter profit took a hit as it made fewer loans and set aside money for defaults, and dealers AutoNation Inc. and Lithia Motors Inc. sold fewer cars, trucks and SUVs. Meanwhile, auto loan delinquencies are rising. The trend is troubling because auto companies typically struggle during downturns when people balk at making big-ticket purchases. This time could be even worse as businesses and consumers are also grappling with...

Tech Giants Broke Their Spending Records on Lobbying Last Year

[ad_1] Amazon.com Inc., Apple Inc. and Microsoft Corp. broke their lobbying spending records last year as they fended off heightened scrutiny of their business models and power over the US economy. Meta Platforms Inc. and Alphabet Inc.'s Google spent slightly less than previous years, but they both still landed among the top 10 spenders in Washington. In total, the top tech companies spent nearly $70 million on lobbying in 2022, outstripping other industries including pharmaceuticals and oil and gas, according to a Bloomberg News tally of lobbying disclosures filed with Congress. The companies spent millions more on their wide array of trade groups, nonprofits and think tanks in Washington, but they aren't required to disclose those numbers. The heavy spending reflects how serio...