Britain’s Farnborough International Airshow will showcase the most advanced aircraft across commercial and military aviation design. Bloomberg | Bloomberg | Getty Images LONDON — Britain’s...
Tag: business news
Look past the ‘misery’ and remember that the market will eventually recover, Jim Cramer says
CNBC’s Jim Cramer on Thursday reminded investors to stay the course in the market, as the pain will eventually go away. “The fact is, if you own stocks right now, the odds favor that you&#...
Starbucks is set to close these 16 U.S. stores over safety concerns
Starbucks will close 16 U.S. stores, mostly on the West Coast, by the end of July because of safety concerns, according to the company. Most of the stores set to close are in the Los Angeles and Seatt...
Stock futures rise slightly as Wall Street awaits more bank earnings
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 30, 2022. Brendan Mcdermid | Reuters U.S. stock futures rose slightly Thursday night after the Dow Jones I...
Chinese fast-fashion company Shein seeks U.S. IPO as soon as 2024: Report
Two people hold two Shein bags after entering SHEIN’s first physical store in Madrid, Spain, June 2, 2022. Cezaro De Luca | Europa Press | Getty Images Chinese fast-fashion giant Shein hopes to ...
JPMorgan CEO Dimon sums up U.S. economy in one paragraph — and it sounds bad
Jamie Dimon, chief executive officer of JPMorgan Chase & Co. Christophe Morin | Bloomberg | Getty Images JPMorgan Chase CEO Jamie Dimon on Thursday summarized the state of the U.S. economy in one ...
Investors put $2.5 billion into companies
A Falcon 9 rocket launches a batch of Starlink satellites to orbit on April 29, 2022. SpaceX Private investment in space companies dwindled in the second quarter — weighed down by broader economic and...
Powell, Clarida cleared of wrongdoing in Fed trading controversy
Federal Reserve Board Chairman Jerome Powell speaks to reporters after the Federal Reserve raised its target interest rate by three-quarters of a percentage point to stem a disruptive surge in inflati...
Texas sues Biden administration over abortion rule
Texas Attorney General Ken Paxton speaks during a news conference after the U.S. Supreme Court heard oral arguments in President Joe Biden’s bid to rescind a Trump-era immigration policy that fo...
These are the 10 cities seeing the most price cuts for homes
Daniel Acker | Bloomberg | Getty Images More home sellers are dropping their asking prices as rising mortgage interest rates and inflation have slowed down competition in the housing market. Some citi...
Molson Coors returns to Super Bowl after hiatus of over 30 years
Molson Golden and Coors Light beer bottles are pictured at the Asylum bar in New York. Andrew Harrer | Bloomberg | Getty Images Molson Coors Beverage will return to the Super Bowl next year, making it...
How inflation can hurt and help consumers, according to economists
A person shops for groceries on March 10, 2022 in the Prospect Lefferts Garden neighborhood of Brooklyn. Michael M. Santiago | Getty Images News | Getty Images Inflation hit a new 40-year high in June...
Russians flee Putin’s regime after Ukraine war in second wave of migration
A ‘second wave’ of Russians are now formally relocating to countries spanning Europe, the Middle East and Asia after spending time getting their affairs in order. Natalia Kolesnikova | Afp...
Jamie Dimon rips Fed stress test as ‘terrible way to run’ financial system
Jamie Dimon, CEO of JP Morgan Chase, speaking at the Business Roundtable CEO Innovation Summit in Washington, D.C. on Dec. 6th, 2018. Janvhi Bhojwani | CNBC JPMorgan Chase CEO Jamie Dimon didn’...
GM, EVgo and Pilot Company to build network of U.S. highway EV chargers
General Motors is building out a new network of EV fast chargers in partnership with Pilot Co., owner of the Pilot and Flying J highway travel centers, and EV charging network EVgo. The companies will...
JPMorgan Chase, Goldman Sachs, Conagra Brands and more
Pedestrians pass in front of a JPMorgan & Chase bank branch automated teller machine (ATM) kiosk in downtown Chicago, Illinois. Christopher Dilts | Bloomberg | Getty Images Check out the companies...
Fed Governor Waller says he’s open to ‘larger’ rate hike this month than in June
Christopher Waller, U.S. President Donald Trump’s nominee for governor of the Federal Reserve, speaks during a Senate Banking Committee confirmation hearing in Washington, D.C., U.S, on Thursday...
Gain 11.3% on surge in energy costs
Inflation hit hard at the wholesale level in June, as producer prices surged a near-record amount from a year ago due to a big jump in energy costs, the Bureau of Labor Statistics reported Thursday. T...
Inflation rose 9.1% in June, even more than expected, as consumer pressures intensify
Shoppers paid sharply higher prices for a variety of goods in June as inflation kept its hold on a slowing U.S. economy, the Bureau of Labor Statistics reported Wednesday. The consumer price index, a ...
JPMorgan (JPM) 2Q 2022 earnings miss
JPMorgan Chase said Thursday that second-quarter profit slumped as the bank built reserves for bad loans by $428 million and suspended share buybacks. The actions reflect Chairman and CEO Jamie Dimon&...
Fed report finds higher fears of inflation and potential recession
A Federal Reserve economic survey released Wednesday pointed to elevated recession fears along with a belief that soaring inflation will last at least through the end of the year. The central bankR...
Morgan Stanley (MS) 2Q 2022 earnings miss
Morgan Stanley posted second-quarter results on Thursday that were below analysts’ expectations, hurt by weaker-than-expected investment banking revenue. Here’s what the company reported c...
US recession looks likely, there are 3 ways the economy could get hit
Rising gas prices are piling pressure on the U.S. economy. Bloomberg | Getty Images The odds of the U.S. economy falling into recession by next year are greater than 50%, Richard Kelly, head of global...
JPMorgan, Taiwan Semiconductor, Ericsson and more
Check out the companies making headlines before the bell: JPMorgan Chase (JPM) – JPMorgan Chase was down 2.9% in premarket trading after falling 12 cents shy of estimates with a quarterly profit of $2...
Richard Branson takes stake in Lightyear, Europe’s answer to Robinhood
The Lightyear app. Lightyear Lightyear, a European challenger to trading platform Robinhood, has raised $25 million of funding in an investment round backed by British billionaire Richard Branson. Sil...
Average rent in Manhattan was a record $5,000 last month
A Chelsea Tower rental apartments billboard. Jeff Greenberg | Getty Images The average monthly rent for a Manhattan apartment surpassed $5,000 for the first time — and brokers say demand and prices ar...
Why the 2022 ‘crypto winter’ is unlike previous bear markets
There’s something about the latest crypto crash that makes it different from previous downturns. Artur Widak | Nurphoto | Getty Images The two words on every crypto investor’s lips right n...
Embattled crypto lender Celsius files for bankruptcy protection
Celsius on Thursday was sued by former investment manager Jason Stone, as pressure continues to mount on the firm amid a crash in cryptocurrency prices. Stone has alleged, among other things, that Cel...