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La-Z-Boy Crashes Most Since 2022 As Frozen Housing Market Crushes Sofa Demand
La-Z-Boy Crashes Most Since 2022 As Frozen Housing Market Crushes Sofa Demand
La-Z-Boy shares suffered their steepest decline in 4.5 years on Wednesday after the furniture maker's second-quarter guidance missed expectations, providing even more evidence that weak housing turnover has suppressed demand for big-ticket discretionary goods such as sofas and recliners. With mortgage rates elevated and home prices near record levels, affordability remains severely stretched, keeping transaction volumes depressed, thus limiting replacement purchases that typically drive furniture demand.
La-Z-Boy forecasted second-quarter sales of $475.7 million, down 3% from a year earlier and well...
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Sep 20, 2026 / Tyler Durden
Iran's Military Believes US Is Preparing To Resume Attacks
Iran's Military Believes US Is Preparing To Resume Attacks
Iran's central military command has announced it believes the United States has made the decision to resume military attacsk on the Islamic Republic.
Citing the country's General Staff of the Iranian Armed Forces, state media IRIB states that "According to intelligence received, the US has once again decided - with the green light from certain regional countries - to resume actions against Iran during a joint meeting in a European nation."
Getty Images
At the same time Iranian leadership again warned US allies in the...
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Sep 21, 2026 / Tyler Durden
Saudi Arabia Reroutes Oil Exports As Houthi Strikes Target Yanbu
Saudi Arabia Reroutes Oil Exports As Houthi Strikes Target Yanbu
Satellite images gathered by Bloomberg show supertankers with capacity for 14 million barrels at Saudi Arabia's Gulf export terminals over the weekend, the highest tanker count observed since at least June, according to data compiled from the European Union's Sentinel-2 satellite.
Source: Javier BlasHowever, as OilPrice notes, overall Hormuz traffic kept falling over the same weekend, nonetheless. Just a dozen commodity vessels crossed the strait, down from 35 a week earlier, and Thursday's crossings totaled four tankers against a 10-day moving average of...
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Sep 12, 2026 / Tyler Durden
China's 70% EV Target Deals Another Blow To Oil Demand
China's 70% EV Target Deals Another Blow To Oil Demand
Authored by Tsvetana Paraskova via OilPrice.com,
China aims to have electric and hybrid vehicles account for as much as 70% of all passenger car sales by 2030, in a massive transport shift set to further dent oil demand for road fuels.
As of the end of last year, the share of the so-called new energy vehicles was 54% of all passenger vehicle sales.
In the new five-year plan for the automotive industry compiled by nearly a dozen Chinese government agencies, China also targets...
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