Treasury Secretary Janet Yellen said Thursday the U.S. economy is in a state of transition, not recession, despite two consecutive quarters of negative growth. Recession, Yellen insisted, is a “...
Tag: business news
There is deflation in some items as Wingstop notes dropping chicken wing prices
Three months ago, Wingstop put a shocker in its earnings release: It was seeing DEFLATION in bone-in chicken wing costs. The chicken chain reiterated the trend with its latest results Thursday morning...
Impact investing opportunities with Vanguard despite ESG concerns
It’s a fund looking to make money from green investing. The inclusive, actively managed Vanguard Baillie Gifford Global Positive Impact Stock Fund (VBPIX) is an environmental, social and governa...
Watch Treasury Secretary Janet Yellen talk live about the state of the U.S. economy
[The stream is slated to start at 1:30 p.m. ET. Please refresh the page if you do not see a player above at that time.] Treasury Secretary Janet Yellen speaks Thursday at a news conference on the stat...
UPS workers rally in New York to protest hot working conditions
Teamster Local 804 rally in Brooklyn, NY, July 28, 2022. Jack Stebbins | CNBC BROOKLYN, N.Y. – UPS workers rallied Thursday morning to demand that the company provide workers adequate relief during pe...
Fails to add broadband subscribers
Comcast reported second-quarter revenue and earnings that topped analyst estimates, but the cable provider didn’t add broadband customers in a quarter for the first time ever. Comcast’s hi...
The economy may look like it’s in recession, but we still don’t know for sure
In an aerial view, shipping containers sit idle at the Port of Oakland on July 21, 2022 in Oakland, California. Truckers protesting California labor law Assembly Bill 5 (AB5) have shut down operations...
Beyond Meat stock falls after conclusion of McDonald’s McPlant test
Advertising for the McPlant burger, a plant based vegetarian alternative to more traditional meat burgers by fast food giant McDonalds on 11th July 2022 in London, United Kingdom. Mike Kemp | In Pictu...
JetBlue to buy Spirit for $3.8 billion after monthslong fight for discounter
A JetBlue airliner lands past a Spirit Airlines jet on taxi way at Fort Lauderdale Hollywood International Airport on Monday, April 25, 2022. (Joe Cavaretta/Sun Sentinel/Tribune News Service via Getty...
PayPal veteran Jim Magats is named CEO of MX, the startup that connects banks and fintech players
Jim Magats, former PayPal executive who is being named CEO of the startup MX Photo: Tom Cook MX, the startup competing against Plaid to help connect financial institutions and fintech players, is nami...
Having women in the boardroom or C-suite drives diversity, study finds
shironosov | Getty Images If you want to take a good guess at a company’s gender diversity record, you might want to first look at who its CEO or board chair is, according to the findings of a n...
Sebastian Vettel to retire from Formula 1 at the end of the 2022 season
The 35-year-old German, who spent six seasons with Ferrari after joining the Italian team in 2015, will see out the remainder of his final campaign with Aston Martin. Mario Renzi – Formula 1 | F...
China signals no big stimulus is coming, while Covid controls remain
A worker in a protective suit cleans the floor at a subway station, after the lockdown placed to curb the coronavirus disease (COVID-19) outbreak was lifted in Shanghai, China June 2, 2022. Aly Song ...
Schumer-Manchin reconciliation bill: Climate change provisions
Senator Joe Manchin (D-WV) exits the U.S. Capitol following a vote, on Capitol Hill in Washington, February 9, 2022. Tom Brenner | Reuters Senate Majority Leader Chuck Schumer, D-N.Y., and Sen. Joe Ma...
GDP fell 0.9% in the second quarter, the second straight decline and a strong recession signal
The U.S. economy contracted for the second straight quarter from April to June, hitting a widely accepted rule of thumb for a recession, the Bureau of Economic Analysis reported Thursday. Gross domest...
JPMorgan hires scientist Charles Lim to head quantum computing unit
Dr. Charles Lim, Global Head of Quantum Communications and Cryptography, JP Morgan Chase Courtesy: JP Morgan Chase JPMorgan Chase has hired a Singapore-based quantum computing expert to be the bank...
BofA CEO says the strong American consumer is one of the Fed’s biggest obstacles
The American consumer is still strong despite roaring inflation, and that will pose a challenge to the Federal Reserve’s mission to tamp down inflation, Bank of America CEO Brian Moynihan told C...
Jim Cramer advises investors to take a case-by-case approach to stocks
CNBC’s Jim Cramer on Wednesday said that investors should judge stocks individually rather than on fears of a looming recession, after the Federal Reserve indicated it could start taking a softe...
Self-driving tech company Pony.ai plans to deliver robotrucks in China
Self-driving tech start-up Pony.ai announced Thursday it plans to mass produce autonomous driving trucks with equipment manufacturing giant Sany Heavy Industry. Pony.ai BEIJING — Self-driving tech sta...
Market jump after Fed hike is ‘trap,’ Morgan Stanley warns investors
Morgan Stanley is urging investors to resist putting their money to work in stocks despite the market’s post-Fed-decision jump. Mike Wilson, the firm’s chief U.S. equity strategist and chi...
Best Buy cuts sales forecast as inflation pressures shoppers
Customers shop at a Best Buy store on August 24, 2021 in Chicago, Illinois. Scott Olson | Getty Images Best Buy on Wednesday cut its forecast for its fiscal year and second quarter, saying it has seen...
Spirit Airlines, Frontier terminate deal that was marred by JetBlue’s rival bid
A Frontier Airlines airplane taxis past a Spirit Airlines aircraft at Indianapolis International Airport in Indianapolis, Indiana, on Monday, Feb. 7, 2022. Luke Sharrett | Bloomberg | Getty Images Spi...
U.S. to release 786,000 additional monkeypox vaccine doses as outbreak spreads
The U.S. will make 786,000 additional monkeypox vaccine doses available to local health departments “as soon as possible” after the Food and Drug Administration approved the shots for dist...
‘Jeopardy!’ locks in hosting deals for Mayim Bialik and Ken Jennings
Mayim Bialik attends Marvel Studios “Doctor Strange in the Multiverse of Madness” Premiere at El Capitan Theatre on May 02, 2022 in Los Angeles, California. Axelle | Bauer-Griffin | FilmMa...
How portfolios are shifting as the Federal Reserve hikes rates again
The Good Brigade | DigitalVision | Getty Images Here’s how portfolio allocations have shifted “We’re attempting to address both inflation and recession concerns,” said certifie...
Ford F earnings Q2 2022
Ford CEO Jim Farley at the company’s Dearborn, Michigan, plant where it’s building the electric F-150 Lightning on April 26, 2022. CNBC | Michael Wayland Ford Motor Company will report its...
Fed Chair Jerome Powell said he does not think the U.S. is currently in a recession
Federal Reserve Chairman Jerome Powell said Wednesday he does not believe the U.S. economy is in a recession as the central bank raised rates further to fight inflation. “I do not think the U.S....