Hogan Lovells and Cadwalader to Merge, Creating $3.6 Billion Law Firm

FedEx reported a higher second-quarter revenue, driven by an increase in package volumes, prompting the company to raise the lower end of its profit outlook for the fiscal year. This adjustment reflects a positive trend in demand for shipping services despite ongoing challenges in global trade dynamics.

Economists have indicated that the significant drop in November inflation is largely attributed to data challenges stemming from the recent government shutdown, rather than genuine shifts in economic conditions. This situation has complicated the accurate assessment of inflation metrics, particularly in housing costs, which constitute a major part of the price index.

The recent inflation report revealed significant data problems, particularly in calculating housing costs, which are a major component of the price index. These issues are expected to persist for several months, complicating economic assessments and forecasts.

KB Home reported a quarterly profit of $101.5 million, reflecting a decline in home deliveries amid a stagnant housing market that continues to impact its financial performance negatively. The company's results indicate ongoing challenges as it navigates a competitive landscape with reduced demand for new homes.

Consumer prices in the U.S. rose by 2.7% in November compared to the previous year, a decrease from the 3% increase recorded in September, according to a delayed report from the government. This slowdown in inflation reflects changing economic conditions and consumer behavior.

The Bank of Mexico has lowered its benchmark interest rate to 7% from 7.25%, marking the 12th consecutive cut, with a 4-1 vote by the central bank's board. This decision indicates a potential pause in rate reductions before further adjustments in 2026.

Hogan Lovells and Cadwalader have announced a merger that will create a law firm valued at $3.6 billion, marking the largest tie-up in history by combined revenue. This significant development was reported by The Wall Street Journal.

CarMax has announced a reduction in prices to attract car shoppers back, following a decline in sales and profits reported for its fiscal third quarter. The company's market share in the used-car sector has been diminishing, prompting this strategic move to regain customer interest.