The quirky tastes of Gen Z are bringing old — and nearly obsolete — clothing brands back.
What's happening: The sports apparel brand Champion, which sells simple sweatshirts that feature its red and blue "C" logo, is having a big comeback, Bloomberg reports.
A growing number of U.S. companies are saying higher wages weighed on first quarter profits or will have a negative impact in coming quarters.
Why it matters: As workers finally start to see pay increases, one of the biggest drivers of high profit margins is under threat and Bridgewater, the world's largest hedge fund, warns corporate profits that have fueled the stock market boom may be peaking.
Sen. Amy Klobuchar (D-Minn.) will be the second 2020 Democratic candidate to participate in a town hall with Fox News' Bret Baier and Martha MacCallum, AP reports.
Why it matters: Sen. Bernie Sanders (I-Vt.) had 2.5 million viewers tune in for his Fox News town hall earlier this week, becoming the most-watched event of its kind so far this cycle. That success has led at least four other 2020 Dems to consider taking part in an event with the conservative cable network, according to The Daily Beast.
Federal Communications Commission chairman Ajit Pai is recommending, per executive branch agencies, that the FCC deny China Mobile's application to provide telecommunications services in the U.S. due to concerns about national security and law enforcement risks.
Why it matters: It's the first time executive branch agencies have recommended that the FCC deny such an application to interconnect with U.S. communications infrastructure, FCC officials said Wednesday on a call with reporters. The move represents a further escalation in the slow-building conflict between the U.S. and China over telecommunications trade.
When it comes to making predictions about the world economy, policymakers and asset managers are whiffing because they are failing to account for the increasingly dysfunctional state of global politics.
The big picture: The world's top economic concerns — Brexit, the U.S.-China trade war — are the result of policy decisions rather than unavoidable shocks.
Yesterday, UnitedHealth Group posted $3.5 billion of profit in the first quarter — its second-most profitable quarter ever — and collected more than $60 billion of revenue.
Between the lines: UnitedHealth's stock price also tanked by 4%, which consequently dragged down shares of the other major health insurers and hospital chains. Cigna’s stock price plummeted 8%, and Anthem and Humana were close behind. HCA tumbled 10%.
China's economy grew 6.4% in the first quarter of 2019 on an annual basis — the same pace the economy grew in the previous period and below the 6.8% seen in last year’s first quarter — exceeding analysts' 6.3% growth estimate, the government said Tuesday.
Walmart has offered a glimpse at how it plans to move its stores into the future, announcing the addition of 3,900 aisle-mopping and shelf-scanning robots to its floors.
Reality check: Though 3,900 robots is a massive deployment, the impact to jobs will be significantly diluted as those bots are spread across 4,700 stores, says Darrell West of the Brookings Institution.
