Chicago Business Barometer Contracts Faster Than Expected in May
Chicago-area business activity took an unexpected turn in May with the Chicago Business Barometer falling to 35.4, signaling a faster contraction than anticipated. The decline, the lowest since May 2020, was driven by sharp drops in new orders, order backlogs, and employment indices. Despite this, the production index saw a significant increase, breaking a five-month decline streak. Stay ahead of economic events with RTTNews Economic Calendar and FX Leaders economic calendar for free forex signals and top economic events.
Latest Inflation Data Released, Meeting Expectations
The latest data on inflation shows that the Fed’s preferred inflation measure rose 0.2% in April, meeting expectations. Personal income increased by 0.3%, while spending only rose by 0.2%, falling short of estimates. Goods prices increased by 0.2%, services by 0.3%, reflecting a normalization in the economy. Market reactions were positive, with futures linked to major stock indices edging higher. Overall, these inflation figures provide valuable insights into current economic conditions and will shape future monetary policy decisions.
Court of Appeals Temporarily Suspends Bankruptcy Proceedings for Nova Austral in Chile
The Court of Appeals in Punta Arenas, southern Chile, has temporarily suspended the bankruptcy proceedings of salmon farmer Nova Austral, sparking interest among industry insiders. This decision offers hope for Nova Austral to reorganize its financial situation and work towards a stable future, highlighting the importance of legal interventions in safeguarding businesses and jobs. Industry analysts are monitoring closely to see how Nova Austral navigates this challenging period, with potential far-reaching implications for the salmon farming sector in southern Chile.
Snowflake Denies Claims of Data Breach Linked to Santander and Ticketmaster Hacks
A recent breach involving Santander and Ticketmaster has been linked to hacks on Snowflake accounts. A threat actor claims to have accessed data by hacking into an employee’s account at the cloud storage company Snowflake. However, Snowflake denies these claims, attributing recent breaches to poorly secured customer accounts. Snowflake’s cloud data platform is utilized by major companies such as Adobe, AT&T, Capital One, Doordash, HP, Instacart, JetBlue, Kraft Heinz, Mastercard, Micron, NBC Universal, Nielsen, Novartis, Okta, PepsiCo, Siemens, US Foods, Western Union, Yamaha, and more. Cybersecurity firm Hudson Rock reports that the threat actor also gained access to data from other prominent companies using Snowflake’s services, including Anheuser-Busch, State Farm, Mitsubishi, Progressive, Neiman Marcus, Allstate, and Advance Auto Parts. The actor allegedly bypassed Okta’s secure authentication process by logging into a Snowflake employee’s ServiceNow account with stolen credentials, enabling them to extract data from Snowflake customers. Snowflake declined to comment further on the breach when contacted by BleepingComputer, and representatives from Santander and Ticketmaster were unavailable for immediate comment.
Chobani Founder Saves America’s Oldest Brewery from Closure
Chobani founder and CEO, Hamdi Ulukaya, saves the oldest brewery in America, Anchor Brewing Co., from closure after 127 years. Ulukaya acquires the brewery, including iconic steam beer recipes and the Potrero Hill campus, with plans for a revitalized future. His commitment to preserving the brewery’s heritage and traditions shines through as he aims to have it operational in time for Christmas ale production this year.
Anthony Edwards Adds Humor to Western Conference Finals Game 4
Minnesota Timberwolves star Anthony Edwards brought humor to Game 4 of the Western Conference Finals by complimenting Kyrie Irving and playfully barking for the basketball. Despite facing elimination, the Timberwolves aimed to turn the tide after close defeats in the previous games. Edwards’ light-hearted interactions with Irving added a comedic touch to the intense playoff series, showcasing a different side to the on-court action.
AC Milan vs AS Roma Friendly Match Draws Massive Crowd in Perth
AC Milan and AS Roma are set to face off in a highly anticipated friendly match at Optus Stadium in Perth, Western Australia. With strong ticket sales exceeding last year’s attendance records, nearly 60,000 fans are expected to fill the stadium. The teams paid tribute to former player Agostino Di Bartolomei, adding an emotional touch to the global event. Stay tuned for more updates on this exciting match!
Exciting Game 5 Sees Panthers Triumph Over Rangers in Eastern Conference Final
The 2024 Stanley Cup Playoffs have been filled with intense matchups and standout performances, keeping hockey fans on the edge of their seats. In the latest action, the Eastern Conference Final saw the New York Rangers facing off against the Florida Panthers in Game 5. Lundell’s go-ahead goal, Kreider’s shorthanded goal, and Forsling’s backhand beauty added to the excitement, with goalies Bobrovsky and Shesterkin showcasing their skills. The Panthers emerged victorious in a tense match, with standout performances and memorable moments making the playoffs truly thrilling.
Marvelous Unveils ‘Farmagia’ Game Updates and Cast Details
Marvelous recently announced exciting updates about their upcoming game ‘Farmagia,’ set for release in 2024. Designed by Hiro Mashima, the game features a talented voice cast including Kōhei Amasaki, Ayane Sakura, Inori Minase, and Atsumi Tanezaki. With a captivating theme song and star-studded cast, ‘Farmagia’ is generating significant buzz among gaming enthusiasts.
Google Announces Strategic Partnership with Magic Leap for AR Technology
Google has announced a strategic technology partnership with Magic Leap, a company known for its work in augmented reality optics and manufacturing. This collaboration aims to introduce a wider range of immersive experiences to the market by leveraging Magic Leap’s expertise in optics and manufacturing alongside Google’s technologies and platforms. Despite previous setbacks, Magic Leap now offers the Magic Leap 2 headset for enterprise customers and is teaming up with Google to potentially incorporate Android XR or access Google’s AR services. Industry leaders like Google and Magic Leap joining forces hold promise for the future of AR and VR technology.