Jennifer Hyman, Rent the Runway Scott Mlyn | CNBC As some shoppers think twice about purchases, Rent the Runway is getting a bump. The fashion rental and subscription company on Wednesday reported st...
Tag: business news
California offshore wind auction surpasses $757 million in bids
Offshore wind farm. davee hughes uk | Moment | Getty Images The Biden administration on Wednesday announced more than $757 million in winning bids for its auction of offshore wind development rights i...
Saudi Arabia reports first budget surplus in nearly 10 years
The Kingdom Tower (center) stands on the skyline above the King Fahd highway in Riyadh, Saudi Arabia. Simon Dawson | Bloomberg | Getty Images Saudi Arabia reported its first budget surplus in nearly 1...
Justice Department tells bankers to confess their misdeeds
U.S. prosecutor Marshall Miller (C), William Nardini (R) and Kristin Mace attend a news conference in Rome February 11, 2014. Tony Gentile | Reuters Banks and other corporations that proactively repor...
Ciena, GameStop, Rent The Runway and others
Check out the companies making headlines before the bell: Ciena (CIEN) – The networking equipment maker’s stock surged 19.1% after a substantial top and bottom line beat in its latest quarter. C...
Rich Chinese keep spending while others cut back: McKinsey survey
Pictured here is a science-fiction themed installation at the Maison Hermes in Shanghai, China, on Nov. 28, 2022. Future Publishing | Future Publishing | Getty Images BEIJING — Wealthier Chinese were ...
Carvana, MongoDB, TripAdvisor, Toll Brothers and more
A mascot of TripAdvisor is seen at its display at a trade fair. Axel Schmidt | Reuters Check out the companies making headlines in midday trading. Carvana — Shares of the online car dealership fell mo...
Cigarette makers ordered to display warning signs at retailers
Altria’s Marlboro cigarettes sold at a store. Simon Dawson | Bloomberg | Getty Images Major cigarette companies will soon be required to post signs at retail locations warning of the health effe...
Jim Cramer’s Investing Club meeting Wednesday: China, Danaher, Apple
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Wednesday’s key moments. Buy and hold EL Possible...
Here are 3 ways Gen Z workers can start saving now for retirement
Luis Alvarez | Digitalvision | Getty Images If you’re just out of college, you may be wondering when the right time is to get started with a retirement savings plan. The answer is now, experts s...
Carvana shares tank as bankruptcy concerns grow for used car retailer
Ernest Garcia III, CEO of Carvana, speaks to CNBC on the floor of the New York Stock Exchange, March 7, 2019. Brendan McDermid | Reuters Shares of Carvana plummeted by more than 40% in Wednesday morni...
What to watch Club holding Costco reports quarterly results Thursday
Club holding Costco Wholesale (COST) is set to report its fiscal first-quarter results on Thursday after the closing bell, and we’ll be looking to see the impact on profitability at the retailer...
Wells Fargo, BofA CEOs say consumer demand is cooling, recession looms
Many shoppers say they plan to spend less this Black Friday as the cost-of-living crisis bites. Richard Baker | In Pictures | Getty Images American consumers are tapping the brakes on spending as the ...
FDA to decide on Pfizer vaccine for older adults by May 2023
The Food and Drug Administration is expected to decide by spring whether to approve Pfizer’s vaccine to prevent respiratory syncytial virus, or RSV, in adults ages 60 and older. Pfizer, in a sta...
McDonald’s hopes discounts, contests boost mobile sales
Sopa Images | Lightrocket | Getty Images Last holiday season, McDonald’s leaned on singer Mariah Carey’s starpower and discounts to drive customers to their mobile app. This year, the Chic...
United Arab Emirates ranked as having the best passport in the world
A traveler passes through immigration control by walking through a “smart tunnel ” at Dubai International Airport. GIUSEPPE CACACE/AFP DUBAI, United Arab Emirates — The United Arab Emirate...
Southwest reinstates dividend after three years as travel rebounds
OntheRunPhoto | iStock Editorial | Getty Images Southwest Airlines is reinstating its quarterly dividend that it suspended at the start of the Covid-19 pandemic in 2020, the latest sign of the airline...
Campbell Soup, Pinterest, Toll Brothers and others
Check out the companies making headlines before the bell: Campbell Soup (CPB) – Campbell Soup beat estimates by 14 cents with adjusted quarterly earnings of $1.02 per share. Revenue also beat consensu...
Mortgage demand falls again even as interest rates sink further
A “For Sale” sign in front of a home in Sacramento, California, on Monday, Dec. 5, 2022. David Paul Morris | Bloomberg | Getty Images Lower mortgage rates are pulling some current homeowne...
Activist investor calls for BlackRock CEO Fink to step down over ESG ‘hypocrisy’
Larry Fink, Chairman and C.E.O. of BlackRock arrives at the DealBook Summit in New York City, November 30, 2022. David Dee Delgado | Reuters LONDON — BlackRock CEO Larry Fink is facing calls to step d...
Energy partnership between U.S., Britain aims to ramp up LNG supplies
Rishi Sunak and Joe Biden photographed on the sidelines of the G20 Summit in Indonesia on Nov. 16, 2022. Saul Loeb | AFP | Getty Images LONDON — The U.K. and U.S. are forming a new energy partnership ...
China eases Covid restrictions on travel and production
BEIJING — In a significant easing of Covid controls, the Chinese government said Wednesday that people will no longer need to show negative virus tests or health codes in order to travel between diffe...
Oil plunge, tech collapse and Fed cuts? Strategist shares possible 2023 market ‘surprises’
A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, August 29, 2022. Brendan McDermid | Reuters After a tumultuous year for financial markets, Standard Chartered outlin...
I like Advanced Micro Devices over Micron
Nu Holdings Ltd: “I’ve got U.S. financials, which until last Friday were just coming in with a head of steam. And I still like them and I would be a buyer of them, not that.” SGHC Li...
Trump Organization, owned by Donald Trump, convicted in tax fraud case
Two subsidiaries of the Trump Organization were convicted Tuesday by a jury in New York City of multiple crimes, including tax fraud, falsifying business records and conspiracy. The guilty verdicts on...
$400 billion erased from European tech market in 2022, Atomico says
The Klarna logo displayed on a smartphone. Rafael Henrique | SOPA Images | LightRocket via Getty Images Europe’s tech industry has lost more than $400 billion in value this year, according to ve...
Charts suggest the market is in for a ‘bumpy ride,’ Jim Cramer says
CNBC’s Jim Cramer on Tuesday warned investors that the market’s volatility will likely continue as its recent run loses steam. “The charts, as interpreted by Jessica Inskip, suggest ...
Fox’s Rupert Murdoch to be deposed in Dominion Voting’s $1.6B lawsuit
Rupert Murdoch, chairman of News Corp and co-chairman of 21st Century Fox, arrives at the Sun Valley Resort of the annual Allen & Company Sun Valley Conference, July 10, 2018 in Sun Valley, Idaho....
Jim Cramer says he expects ‘many layoffs’ at companies after Christmas
CNBC’s Jim Cramer on Tuesday predicted that more companies will trim their workforces after the holiday season. “I’m sure there’ll be many layoffs after Christmas. I don’...