Textron stock soared Tuesday after the defense company won a contract worth up to $80 billion to build a new helicopter for the Army. Word of the award came late Monday. The Army is turning to Textron...
Tag: Business
Pfizer rejects Moderna claim it copied Covid vaccine, accuses rival of rewriting history
Pfizer has rejected allegations made by rival Moderna that its Covid-19 vaccine is a copy, accusing the Boston biotech company of rewriting history to lay claim to technology developed by a field of s...
Warner Bros. Discovery CEO David Zaslav’s top priority: Cash flow
David Zaslav Olivia Michael | CNBC A few months ago, after a lengthy and sobering review of Warner Bros. Discovery‘s business, Chief Executive David Zaslav gave his division heads a cutthroat mi...
Boeing’s last 747 rolls out of factory after a more than 50-year production run
Boeing’s last 747 aircraft, #1574, at its factory in Everett, Washington. Leslie Josephs | CNBC EVERETT, Wash. − Boeing‘s final 747 is set to roll out of the company’s cavernous fact...
Airlines will return to profitability in 2023 after three-year slump: IATA
The global airline industry is set to return to profitability again next year following a near-three year downturn fueled by the Covid-19 pandemic, an industry body said Tuesday. The International Air...
How the U.S. became a global corn superpower
The United States has just about 90 million planted acres of corn, and there’s a reason people refer to the crop as yellow gold. In 2021, U.S. corn was worth over $86 billion, according to calcu...
United CEO says business travel has ‘plateaued’ but revenue is still rising
United Airlines Boeing 787-9 Dreamliner landing in London Heathrow International airport in England, UK. Nicolas Economou | NurPhoto | Getty Images Business travel demand has “plateaued” b...
Cryptocurrency investor losses are being turned into IRS gains — here’s how they’re doing it
The Internal Revenue Service has been turning up its scrutiny on cryptocurrency investors in recent years, and as that happens, more investors have been turning to the tax code’s rules on investment l...
PepsiCo plans to cut hundreds of jobs, report says
Pepsi soft drinks are displayed at a convenience store in San Francisco, California. Justin Sullivan | Getty Images PepsiCo is eliminating hundreds of corporate jobs in North America, according to the...
Amber Group says it’s ‘business as usual’ amid reports of more layoffs
Digital asset platform Amber Group is reassuring clients and stakeholders that it is “business as usual” at the firm following reports that the company laid off staff. The Hong Kong-based firm ...
Renewables to be main source of electricity generation by 2025: IEA
Wind turbines in the Netherlands. A report from the International Energy Agency “expects renewables to become the primary energy source for electricity generation globally in the next three year...
Jim Cramer urges investors to exit crypto – ‘it’s never too late’
CNBC’s Jim Cramer on Monday told investors that they still have time to sell their cryptocurrency holdings. “You can’t just beat yourself up and say, ‘hey, it’s too late ...
I can’t recommend Penn Entertainment
Penn Entertainment Inc: “Everybody’s in this darn business. … I do like Penn. They’re good guys, but I cant recommend the stock right now.” Symbotic Inc: “They̵...
Fed can’t stop raising interest rates due to these 4 factors
CNBC’s Jim Cramer on Monday listed four reasons why the Federal Reserve can’t stop tightening the economy just yet. Not enough people are reentering the workforce. That makes it more diffi...
Ford CEO says 65% of U.S. dealers agree to sell EVs
Ford F-150 Lightning trucks manufactured at the Rouge Electric Vehicle Center in Dearborn Michigan. Courtesy: Ford Motor Co. DETROIT – About 65% of Ford Motor’s dealers have agreed to sell elect...
S&P 500, Nasdaq post worst day in month after strong data fuels worry about Fed rate hikes
The S&P 500 and Nasdaq Composite indexes recorded their worst day in almost a month on Monday, after a hotter-than-expected U.S. services-sector reading fueled concerns that the Federal Reserve ma...
Stocks making the biggest moves after hours: GitLab, Herbalife and more
People celebrate the Gitlab IPO at the Nasdaq, October 14, 2021. Source: Nasdaq Check out the companies making headlines in post-market trading. GitLab – The development software operator jumped 23% a...
Bybit is Cutting its Workforce by 30% to Reorganize Business
Bybit, a Dubai-based crypto derivatives exchange, seems like it is following the footsteps of leading U.S. firms like Kraken, Lemon Cash, Coinbase, Amazon, Meta, and Twitter. Reportedly the crypto exc...
4 Recession-Proof Business Ideas For Proactive Investors
| Getty Images Key Takeaways Most economists still believe the U.S. economy will enter a recession in 2023. Typically, the stock market as a whole falls during a recession, but some industries are les...
Nio, Alibaba, Bilibili among China stocks set for another rally as Covid controls ease
U.S.-listed shares of Chinese internet and electric-vehicle stocks are enjoying a sharp rally yet again in premarket trading Monday amid reports that officials in the country were easing pandemic rest...
Los Angeles bans oil and gas drilling within city limits
An oil pumpjack operates in the Inglewood Oil Field on January 28, 2022 in Los Angeles, California. Mario Tama | Getty Images The Los Angeles City Council has voted to ban new oil and gas drilling and...
This long-time bear warns of a ‘trapdoor’ situation looming for the stock market.
Uncertainty is lingering for investors following a recent mixed batch of data — softer-than-expected inflation, stronger-than-anticipated jobs and wages — as we kick off the third week before Christma...
Nike parts ways with NBA star Kyrie Irving after antisemitism flap
BROOKLYN, NY – DECEMBER 2: Kyrie Irving #11 of the Brooklyn Nets prepares to shoot a free throw during the game against the Toronto Raptors on December 2, 2022 at Barclays Center in Brooklyn, Ne...
Tesla, VF Corp, Marriott, MGM and more
A general view shows the Tesla logo on the Gigafactory in Gruenheide near Berlin, Germany, August 30, 2022. Annegret Hilse | Reuters Check out the companies making headlines in midday trading. Tesla –...
Circle and Concord terminate proposed business combination
Circle Internet Financial (Circle) and Concord Acquisition Corp (NYSE:CND) have announced the mutual termination of their proposed business combination. The termination of the proposed deal was approv...
SpaceX unveils Starshield, a military variation of Starlink satellites
An uncaptioned image posted on the company’s website appears to show Starshield technology in orbit. SpaceX Elon Musk’s SpaceX is expanding its Starlink satellite technology into military ...
Warner Bros Discovery close to picking Max for name of HBO Max replacement
In this photo illustration, the Warner Bros. Discovery logo is displayed on a smartphone screen and in the background, the HBO Max and Discovery Plus logos. Rafael Henrique | Lightrocket | Getty Image...
VF Corp. lowers full-year guidance, announces CEO is retiring
Igor Goloniov | Sopa Images | Getty Images VF Corporation, owner of The North Face and Timberland, on Monday lowered its revenue and earnings expectations for the second half of its fiscal year and sa...