The oldest company in the world still in operation is over 1,400 years old. Kongo Gumi, a Japanese construction company, was founded in 578 AD. Specializing in building Buddhist temples, it survived centuries of political upheaval and market changes. In 2006, it was absorbed as a subsidiary of Takamatsu Construction Group due to financial difficulties but still operates today, maintaining its legacy in construction.
Market Wrap
U.S. stock markets experienced small declines after a strong session the previous day, with the S&P 500 falling 0.2%, the Dow Jones down 0.2%, and the Nasdaq dropping 0.9%. These movements were influenced by mixed earnings reports from major companies and weaker-than-expected economic data. December retail sales increased by 0.4%, below the anticipated 0.5% growth, signaling a potential slowdown in consumer spending. Additionally, initial jobless claims rose slightly to 217,000, above expectations, hinting at softening in the labor market.
Despite surpassing profit expectations, UnitedHealth reported lower-than-expected revenue and an increase in medical costs, leading to a decline in its stock price.
Shares declined after reports that China's Commerce Ministry is investigating U.S. chip subsidies, potentially affecting companies like Texas Instruments involved in lower-end semiconductors.
The financial services firm reported mixed quarterly results, topping adjusted profit estimates but falling short on its net interest margin, a key measure of lending effectiveness.
