U.S. corporate profits fell significantly in the first quarter of 2025, dropping 118.1 billion U.S. dollars following a 204.7 billion U.S. dollars increase in the previous quarter, according to the U.S. Department of Commerce's Bureau of Economic Analysis.
Data released by the bureau on Thursday showed that consumer spending, the main driver of economic growth, grew by only 1.2 percent in the first quarter, significantly below previous expectations.
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US corporate profits drop 118.1 bln USD in Q1
US corporate profits drop 118.1 bln USD in Q1
US corporate profits drop 118.1 bln USD in Q1
US corporate profits drop 118.1 bln USD in Q1
The decline in automobile sales, along with reduced spending on services such as health-care and insurance, showed underlying weakness in consumer demand, said the bureau.
The U.S. government's tariff policies have led several American companies, including retail giant Walmart, to warn that consumers may soon see price increases.
US corporate profits drop 118.1 bln USD in Q1
US corporate profits drop 118.1 bln USD in Q1
US corporate profits drop 118.1 bln USD in Q1
US corporate profits drop 118.1 bln USD in Q1
Military targets in Iran's Kharg Island have been "totally obliterated" in the latest U.S. bombing raids, U.S. President Donald Trump said Friday on Truth Social.
"Moments ago, at my direction, the United States Central Command executed one of the most powerful bombing raids in the History of the Middle East, and totally obliterated every MILITARY target in Iran's crown jewel, Kharg Island," the president wrote in the post.
He added that he had "chosen NOT to wipe out the Oil Infrastructure on the Island."
"However, should Iran, or anyone else, do anything to interfere with the Free and Safe Passage of Ships through the Strait of Hormuz, I will immediately reconsider this decision," Trump wrote.
A spokesman from the Iranian Khatam al-Anbiya Central Headquarters warned on Saturday local time that the "smallest attack on the energy infrastructure and ports" will trigger a "crushing and devastating response".
"In the event of such aggression, all oil and gas infrastructure in the region in which the U.S. and its Western allies are stakeholders will be set on fire and destroyed," he said.
Located about 24 kilometers off the coast of Iran in the Gulf, Kharg Island serves as the export terminal for 90 percent of Iran's oil shipments.
U.S. carries out bombing raids on military targets in Iran's Kharg Island: Trump
U.S. carries out bombing raids on military targets in Iran's Kharg Island: Trump
