Jamie Dimon, President, CEO & Chairman of JP Morgan Chase, speaking on Squawk Box at the WEF in Davos, Switzerland on Jan. 19th, 2023. Adam Galica | CNBC JPMorgan Chase CEO Jamie Dimon said Thurs...
Tag: business news
Novartis CEO says Covid to become endemic, calls for better pandemic preparedness
Novartis said in August that it plans to spin off its generics unit Sandoz to sharpen its focus on its patented prescription medicines. Bloomberg | Bloomberg | Getty Images The chief executive of Swis...
Greta Thunberg and other climate activists discuss the energy transition at Davos
[The stream is slated to start at 5:15 a.m. ET. Please refresh the page if you do not see a player above at that time.] Alongside IEA Executive Director Fatih Birol, activist Greta Thunberg is taking ...
China tightens media control with tiny stakes in two Alibaba units
Alibaba completed its acquisition of video platform operator Youku Tudou in 2016. Pictured here is an old version of the Youku logo. Sopa Images | Lightrocket | Getty Images BEIJING — State-backed ent...
CoinDesk engages Lazard to explore sale as DCG crisis grows
Barry Silbert, Founder and CEO, Digital Currency Group Anjali Sundaram | CNBC Crypto trade publication CoinDesk is exploring a potential sale, hiring advisors at Lazard to weigh a move that would rem...
Davos elites see a major risk ahead for markets with looming U.S. debt standoff
DAVOS, Switzerland – The finance and tech CEOs gathering at the World Economic Forum this week expressed measured optimism about the economy in 2023 — but at least one major risk looms for markets, th...
TransMedics is a total winner
SoFi Technologies Inc: “There was a report that came out earlier this week that said that they are, like many other banks, struggling with the idea that [interest] rates went up really fast, muc...
Charts suggest the S&P 500 is at a make-or-break moment, Cramer says
CNBC’s Jim Cramer on Wednesday said that the benchmark S&P 500 is at a crossroads, poised to either tumble further or roar higher. “The charts, as interpreted by Jessica Inskip, sugges...
Market is getting rid of ‘weak-handed investors’
CNBC’s Jim Cramer on Wednesday warned investors that stocks could continue to fall — at least in the near future. “I think we have a … period of consolidation, as we get rid of the weak-ha...
Bed Bath & Beyond seeks capital infusion, buyer ahead of likely bankruptcy
A “Store Closing” banner on a Bed Bath & Beyond store in Farmingdale, New York, on Friday, Jan. 6, 2023. Johnny Milano | Bloomberg | Getty Images Bed Bath & Beyond has been in disc...
Holiday sales tanked, trucking data shows e-commerce wasn’t the issue
The market did not like what it saw from the final retail holiday sales numbers for 2022 which sets up a tough year for retailers, but e-commerce is continuing to boom, including in areas outside the ...
Discover Financial, Alcoa and more
An aluminum coil stands in a warehouse awaiting transport, at an Alcoa World Alumina Australia smelting plant, partially owned by Alumina Ltd., in Point Henry, Australia. Carla Gottgens | Bloomberg | ...
Marvel movies set to return to China, but Covid could hurt ticket sales
Marvel Studios’ “Ant-Man and the Wasp: Quantumania.” Disney Marvel films are returning to China in February, marking the first time in nearly four years that Disney’s comic boo...
As consumer spending slows, TJX is the off-price retailer to own
Fresh economic data Wednesday showed U.S. consumer spending slowed during the holiday season as inflation, though easing, continued to squeeze shoppers. That’s likely to make off-price retailers...
Board also light on media experience
Nelson Peltz David A. Grogan | CNBC Disney directors unanimously rejected activist investor Nelson Peltz’s request to join the board this month, in large part due to his lack of media industry e...
Amid inflation, more middle-class Americans struggle to make ends meet
As inflation spiked, Americans in the middle class were particularly hard hit. For them, prices increased faster than their income, according to a September report by the Congressional Budget Office. ...
Floods engulf Philippines as president declares ‘state of calamity’
Members of the Philippine Coast Guard wade through floods during a rescue operation, in Isabela City, Basilan province, Philippines, January 11, 2023. Philippine Coast Guard | via Reuters The Philippi...
Microsoft, Moderna, Mobileye, Chegg and more
Microsoft Corporation headquarters at Issy-les-Moulineaux, near Paris, France, April 18, 2016. Charles Platiau | Reuters Check out the companies making headlines in midday trading. J.B. Hunt Transport...
Markets fully price in quarter-point interest rate hike in February as inflation slows
The Marriner S. Eccles Federal Reserve Board Building in Washington, D.C. Sarah Silbiger | Reuters Markets are nearly certain the Federal Reserve next month will take another step down in the pace of ...
Ripple CEO optimistic crypto firm will get SEC XRP lawsuit ruling soon
The head of cryptocurrency and blockchain company Ripple, Brad Garlinghouse says he is hopeful a resolution will be reached in its spat with the U.S. Securities and Exchange Commission within the firs...
Sales fall short of expectations
Shoppers walk through the Urbanspace Holiday Shops at Bryant Park in New York, U.S., on Sunday, Dec. 12, 2021. Gabby Jones | Bloomberg | Getty Images Holiday sales fell short of industry expectations,...
Federal Reserve Chairman Jerome Powell tests positive for Covid
Federal Reserve Board Chairman Jerome Powell holds a news conference following the announcement that the Federal Reserve raised interest rates by half a percentage point, at the Federal Reserve Buildi...
Homebuilder sentiment in January rises for the first time in a year
Homes under construction in Tucson, Arizona, U.S., on Tuesday, Feb. 22, 2022. Sales of new U.S. homes retreated in January after a flurry of purchases at the end of 2021, indicating a jump in mortgage...
Wholesale prices fell 0.5% in December, much more than expected; retail sales fall
Prices for wholesale goods and services fell sharply in December, providing another sign that inflation, while still high, is beginning to ease. The producer price index, which measures final demand p...
Gun companies report declining demand for firearms
A selection of AR-15-style rifles hangs on a wall at R-Guns store on Jan. 11, 2023, in Carpentersville, Illinois, a day after the state ban. Armando L. Sanchez | Tribune News Service | Getty Images Th...
Party City files for bankruptcy to restructure piling debt
A shopper exits a Party City Holdco Inc. store in New York, U.S., on Wednesday, Nov. 7, 2018. Party City Holdco released earnings figures on November 8. Bloomberg Party City and some of its U.S. units...
Oliver Stone slams environmental movement over actions on nuclear
The environmental movement’s stance on nuclear power was “wrong” and derailed the sector’s development, according to the filmmaker Oliver Stone. During an interview with CNBC&#...
Solomon says Goldman took on too much too quickly in consumer business
David Solomon, CEO, Goldman Sachs, speaking at the World Economic Forum in Davos, Switzerland, Jan. 23, 2020. Adam Galacia | CNBC Goldman Sachs CEO David Solomon told CNBC Wednesday that his firm suff...
United Airlines, Moderna, IBM and more
A United Airlines plane taxis at Newark International Airport, in Newark, New Jersey, on January 11 2023. Kena Betancur | AFP | Getty Images Check out the companies making headlines in premarket tradi...