The Federal Reserve on Wednesday raised benchmark interest rates by another three-quarters of a percentage point and indicated it will keep hiking well above the current level. In its quest to bring d...
Tag: business news
The Fed forecasts hiking rates as high as 4.6% before ending inflation fight
U.S. Federal Reserve Board Chairman Jerome Powell speaks during a news conference at the headquarters of the Federal Reserve, July 27, 2022 in Washington, DC. Drew Angerer | Getty The Federal Reserve ...
Existing home sales fall in August, and prices soften significantly
Sales of previously owned homes fell 0.4% in August from July to a seasonally adjusted annualized rate of 4.80 million units, according to the National Association of Realtors. That is the slowest sal...
Planet prepares to launch hyperspectral satellites called Tanager
An artist’s depiction of a Tanager satellite in orbit. Planet PARIS — Planet is adding another type of imagery satellite to its product line, the latest expansion of the company’s data-gat...
GOP attorneys general ask credit card companies to drop gun store code
Fire arms are seen at the Bobâs Little Sport Gun Shop in the town of Glassboro, New Jersey, United States on May 26, 2022. Tayfun Coskun | Anadolu Agency | Getty Images Two dozen Republican attorneys...
Freyr Battery, Stitch Fix, General Mills, Trupanion and more
General Mills’ Cheerios for sale on a store shelf. Lisa Baertlein | Reuters Check out the companies making headlines in midday trading Wednesday. Freyr Battery — Shares of the electric vehicle b...
FedEx’s warning reflects both global economy and internal shortcomings
A FedEx worker makes a delivery on September 16, 2022 in Miami Beach, Florida. Joe Raedle | Getty Images FedEx warned of weakening global shipping demand in a preliminary earnings report last week, le...
Tom Rutledge to step down as Charter Communications CEO
Chairman and CEO of Charter Communications Tom Rutledge speaks at The New York Times DealBook Conference at Jazz at Lincoln Center on November 10, 2016 in New York City. Bryan Bedder | The New York Ti...
Walmart plans to hire 40,000 workers for the holiday season
A Walmart worker organizes products for Christmas season at a Walmart store in Teterboro, New Jersey. Eduardo Munoz | Reuters Walmart announced Wednesday that it will be hiring 40,000 seasonal and ful...
Watch JPMorgan Chase CEO Jamie Dimon and six other bank leaders get grilled by Congress
[The stream is slated to start at 10:00 a.m. ET. Please refresh the page if you do not see a player above at that time.] The CEOs of the biggest U.S. retail banks, including JPMorgan Chase‘s Jam...
Cost of flights leaving Russia soars after Putin announcement
Putin announced in his speech that 300,000 military reservists would be required to serve in the “special military operation,” raising fears that men of fighting age may not be allowed to ...
Here’s everything the Federal Reserve is expected to do today
Construction workers outside the Marriner S. Eccles Federal Reserve Building, photographed on Wednesday, July 27, 2022 in Washington, DC. Kent Nishimura | Los Angeles Times | Getty Images There’...
Taco Bell to test long-awaited Beyond Meat carne asada in Ohio next month
Taco Bell quesadilla featuring Beyond Carne Asada Source: Taco Bell Taco Bell will test meatless carne asada made with Beyond Meat at dozens of its restaurants in Dayton, Ohio, starting next month. It...
Xpeng says new G9 SUV could become the EV-maker’s best-selling car
Xpeng showed off its forthcoming G9 SUV at the Chengdu auto show in August 2022. China News Service | China News Service | Getty Images BEIJING — Chinese electric car start-up Xpeng‘s newest mod...
General Mills, Stitch Fix, Beyond Meat and others
Check out the companies making headlines before the bell: General Mills (GIS) – General Mills shares gained 1.8% in the premarket after the food producer reported a better-than-expected quarterly prof...
European businesses are rethinking their plans for a ‘closed’ China
BEIJING — European businesses in China are revaluating their market plans after this year’s Covid controls further isolated the country from the rest of the world, said Joerg Wuttke, president o...
Mortgage demand rises for the first time in six weeks
Real estate listings Adam Jeffery | CNBC Mortgage application volume increased last week for the first time in six weeks, according to the Mortgage Bankers Association, despite a rise in interest rate...
Fed should hike interest rate rates 150 basis points: Wells Fargo
It’s a move that would likely cause panic on Wall Street. But Wells Fargo Securities’ Michael Schumacher suggests the Federal Reserve is raising rates too slowly, telling CNBC’s R...
German government agrees nationalization deal for energy giant Uniper
Uniper has received billions in financial aid from the German government as a result of surging gas and electric prices following Russia’s war in Ukraine. Picture Alliance | Picture Alliance | G...
Big businesses trumpet ESG credentials. Scrutiny is on the rise
As the 2020s progress, discussions about climate change, the environment and issues related to equality and diversity are at the forefront of many people’s minds. The corporate world is no excep...
Formula 1 announces record 24-race calendar for 2023 season
Max Verstappen of the Netherlands drives the (1) Oracle Red Bull Racing RB18 Honda during the F1 Grand Prix of Italy at Autodromo Nazionale Monza on Sept. 11, 2022. Eric Alonso | Getty Images Sport | ...
Ford stock suffers worst day since 2011 after cost warning
Ford F-150 Lightning at the 2022 New York Auto Show. Scott Mlyn | CNBC DETROIT – Ford Motor’s stock suffered its worst day in more than 11 years, after the automaker pre-released part of its thi...
Coinbase is not a buy
Certara Inc: “They’re not bad. They actually don’t lose money. … I think it’s a great spec, and I usually don’t say that.” Melco Resorts & Entertainment L...
Johnson & Johnson CEO touts ‘smart’ data approach at new center
Johnson & Johnson is honing in on finding new solutions to advance health care treatments, CEO Joaquin Duato told CNBC’s Jim Cramer on Tuesday. The “Mad Money” host sat down with...
Market rallies will be sporadic until inflation comes down
CNBC’s Jim Cramer on Tuesday said market rallies will be short-lived as long as inflation remains persistent. “Sometimes you don’t need to know the price of the Dow, you just need to...
GM to sell up to 175,000 electric vehicles to Hertz through 2027
General Motors has agreed to sell up to 175,000 electric vehicles to Hertz Global over the next five years, the companies announced Tuesday. The deal calls for GM to start supplying electric vehicles ...
Gap eliminating about 500 corporate jobs as sales fall
Pedestrians walk past a Gap Inc. store in Shanghai, China. Qilai Shen | Bloomberg | Getty Images Gap Inc. is cutting about 500 corporate jobs as the clothing retailer struggles with declining sales. T...
Single-family rent increases cool for the third straight month
A ‘For Rent’ sign is posted near a home on February 07, 2022 in Houston, Texas. Brandon Bell | Getty Images Rents for single-family homes were 12.6% higher in July compared with the year-e...
Peloton adds $3,195 rowing machine to fitness equipment lineup
Peloton Rowing Machine Courtesy: Peloton Peloton is adding rowing machines to its lineup as the company works through a restructuring to expand its customer base and return to a profit. The fitness-ma...