A widely followed economist says a recession is about to hit the US following a weak first quarter performance. Steve Hanke tells his 628,600 Twitter followers that the country’s economic growth signi...
Category: Finance
Live Finance News Updates.
Today’s Wordle #683 Hints, Clues And Answer For Wednesday, May 3rd
How to solve today’s Wordle. In Pictures via Getty Images It’s Wordle Wednesday! Every Wednesday—except when I forget, like last week—I spice up this Wordle column with a riddle. There is no rea...
What’s Going On With Mastercard And Visa Shares Today
Mastercard Inc (NYSE: MA) and Visa Inc (NYSE: V) shares are trading lower on Tuesday as Mizuho flagged their declining U.S. personal consumption expenditure share. Mizuho analyst Dan Dolev maintains M...
Wall Street Rattled by 15% Tumble in Pair of Banks: Markets Wrap
(Bloomberg) — Just a day after Wall Street breathed a sigh of relief with the rescue of First Republic Bank, a selloff in US regional lenders fueled renewed anxiety over financial stability, sin...
Ford posts $1.76B 1Q profit largely on gas-powered vehicles
DETROIT (AP) — Ford Motor Co. made $1.76 billion last quarter, swinging into the black from a $3.1 billion net loss for the same period a year ago. Most of the profit came from Ford Blue, the company&...
Icahn Hit by Hindenburg Short as Activist Becomes Target
(Bloomberg) — Carl Icahn, the famed activist investor who’s made a career out of starting corporate brawls, found himself on the receiving end of criticism Tuesday after Hindenburg Research disc...
Dow Jones Dives As Uber Rockets; Carl Icahn Hits Out As Stock Craters On Short-Seller Attack
The Dow Jones Industrial Average dived as regional banks including PacWest (PACW) and Western Alliance (WAL) crumbled. Carl Icahn lashed out after Icahn Enterprises (IEP) cratered amid a short seller&...
Beats on revenue and EPS, but chip sales drop 64%
AMD (AMD) announced its fiscal first quarter earnings after the bell on Tuesday, beating analysts’ expectations on the top and bottom line, despite falling short on data center and client revenu...
Ford reports Q1 revenue and profit beat; EV unit suffers $722M EBIT loss
Ford (F) reported first quarter revenue and earnings that topped Wall Street expectations on Tuesday while also breaking out results for its EV segment for the first time, where losses totaled more th...
Bud Light Sales Fall 26% as Transgender Backlash Worsens
Text size Bud Light sales have been hit particularly hard in red states. Rick Diamond/Getty Images The Dylan Mulvaney controversy continues to hurt Bud Light. Beer Business Daily reported Sunday that ...
PacWest, Western Alliance crash as regional bank fears continue to shake markets
PacWest (PACW) and Western Alliance (WAL) plunged Tuesday as investors remained convinced the worst was not yet over for troubled regional banks. The stock drops for both institutions came one day aft...
Stocks sink as bank shares plunge, Fed meeting gets underway: Stock market news today
U.S. stocks tumbled on Tuesday as the fallout from First Republic Bank’s (FRC) failure continued to hit bank stocks and the Federal Reserve began its two-day meeting. The S&P 500 (^GSPC) clo...
Banking fears reignited on Wall Street as HSBC chief claims crisis is over
HSBC’s chief executive Noel Quinn played down concerns about the health of the global banking system after JP Morgan was forced to step in to rescue California’s First Republic Fears of a US banking c...
Police Finally Arrest Texas Man Accused Of Killing 5 Neighbors—Ending Days-Long Manhunt
Topline Police on Tuesday arrested a 38-year-old Texas man accused of fatally shooting five of his neighbors—including a 9-year-old—near Houston last week, local authorities said Tuesday, ending a len...
This is not another financial crisis
Famed financier and healthcare expert Michael Milken doesn’t think the US is trapped in a banking crisis, but the turmoil does offer an important lesson for investors, management teams, and regu...
Carl Icahn’s faces short report from Hindenburg Research
Carl Icahn’s Icahn Enterprises’ (IEP) stock hit a 52-week low after the famed activist investor became the target of a short-seller report accusing him of what he often criticizes others for: mi...
Apple Earnings May Fall 10% As iPad, Mac Sales Drag
Apple (AAPL) will likely report lower revenue and earnings compared to a year ago as sales of some of its iconic products, including iPhones, iPads, notebooks, and Mac computers, decline. Key Takeaway...
‘It’s As If The Whole Country Takes A Pay Cut:’ Top Economist Warns Of A Recession And Another 23% Drop In Stocks But Highlights Opportunity For Those With ‘Dry Powder’
Fears of a recession have mounted since the U.S. Federal Reserve began hiking interest rates in early 2022. Although the latest gross domestic product (GDP) figures indicated growth, a recession could...
Michael Milken says recent crisis is the same mistake banks have been making for decades
Michael Milken, Chairman of the Milken Institute, speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2022. (Photo by Patrick T. FALLON / AFP) (Photo by PATRIC...
Nikola Partners With Voltera On Hydrogen Station Funding
Nikola Corp (NASDAQ: NKLA) and decarbonization infrastructure provider Voltera signed a definitive agreement to develop the hydrogen fueling infrastructure to support Nikola’s deployment of zero...
Stocks moving big after hours: F, SBUX, CLX
A Starbucks store is seen inside the Tom Bradley terminal at LAX airport in Los Angeles, California. Lucy Nicholson | Reuters Check out the companies making headlines after hours. Ford Motor — Ford to...
Markets Expect One Last Fed Rate Hike. Beware—This Just Happened in Australia.
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Conservative Pundit Ben Shapiro Invests $4.7 Million in Israeli Drug Company
(Bloomberg) — Right-wing media entrepreneur Ben Shapiro has taken a $4.7 million stake in a struggling Israeli pharmaceutical company and joined the board. Most Read from Bloomberg Shapiro, 39, ...
Pepe (PEPE) Token’s Enormous Rally Ignites Another Memecoin Frenzy
Is the Ethereum blockchain ready to see yet another memecoin revolution with the emergence of the Pepe (PEPE) token? This could be the case if the digital asset, which continued to rally since its inc...
How The New Bar Became Coachella’s First Non-Alcoholic Partner
Brianda Gonzalez, founder and CEO of The New Bar. The New Bar The Latina-founded alcohol-free drink shop, The New Bar, became Coachella Valley Music and Arts Festival’s first non-alcoholic partner. Wi...
Billionaire Ken Griffin Doubles Down on These 2 ‘Strong Buy’ Stocks — Here’s Why You Might Want to Follow in His Footsteps
Every investor is looking to gain an edge and beat the market and there are numerous strategies that can help in this undoubtedly difficult endeavor. One obvious game plan is to follow in the footstep...
Chegg stock sinks as ChatGPT steals market share
ChatGPT is beginning to take market share from online learning platform Chegg (CHGG), Chegg executives conceded on an earnings call Monday evening. “In the first part of the year, we saw no noticeable...
zkLink Announces First “Dunkirk Test” to Establish New DeFi Safety Standard – Cryptopolitan
Singapore, Singapore, May 3rd, 2023, Chainwire zkLink, a multi-chain trading middleware utilizing zero-knowledge proofs, announces the first “Dunkirk Test”, a new DeFi safety standard, on May 11-13. D...
Half of America’s banks are potentially insolvent – this is how a credit crunch begins
Fed chair Jerome Powell – AP Photo/Alex Brandon The twin crashes in US commercial real estate and the US bond market have collided with $9 trillion uninsured deposits in the American banking sys...
Nike, Adidas, Shein, Temu Sent Letter From House China Committee About Forced Labor
Female workers making sneakers on the assembly line at a Nike factory in China. (Photo by ANDREW … [+] HOLBROOKE/Corbis via Getty Images) Corbis via Getty Images The Republican and Democratic Pa...
How much the class of 2023 expects to earn in their first entry-level job—and how much employers say they’ll pay
Good morning! More from Fortune: 5 side hustles where you may earn over $20,000 per year—all while working from home Looking to make extra cash? This CD has a 5.15% APY right now Buying a house? Here&...
After The Fall Of VC-Backed Aperitif Brand Haus, Co-Founder Woody Hambrecht Returns With New Drinks Ventures
Ami Ami Vin makes two products, a Vin Rouge and a Vin Blanc. Courtesy of Ami Ami Vin After a spectacular failure, how do you rise again? For winemaking entrepreneur Woody Hambrecht, the answer is simp...