Month: April 2022
Senate votes to strip Russia of ‘most favored nation’ trade status
Russian President Vladimir Putin chairs a meeting with members of the Security Council at the Novo-Ogaryovo state residence outside Moscow, Russia April 7, 2022. Mikhail Klimentyev | Sputnik | Reuters The Senate voted unanimously on Thursday to revoke Russia’s “most-favored-nation” trade status, an economic downgrade that opens the door to new damaging tariffs on Moscow […]
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Macy’s warns that inflation-squeezed consumers may choose to spend on travel over shopping
A person walks past a Macys store in Hyattsville, Maryland, on February 22, 2022. Stefani Reynolds | AFP | Getty Images As inflation threatens to weigh on consumer demand, particularly among low-to-middle income consumers, Macy’s says more shoppers could be faced with a consequential choice: Head to the mall or take a summer vacation. “The […]
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House oversight chair says DOJ is ‘obstructing’ probe into Trump
Chairwoman Carolyn Maloney, D-N.Y., speaks during a House Oversight and Reform Committee hearing on D.C. statehood on Tuesday, Feb. 11, 2020. Caroline Brehman | CQ-Roll Call | Getty Images WASHINGTON — House Oversight Committee Chair Carolyn Maloney, D-N.Y., is alleging that the Department of Justice is “obstructing” the panel’s investigation into former President Donald Trump by blocking the National […]
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Barclays names Target a top pick, says demand should hold up even in weak economy
Target’s foot traffic should remain strong despite inflation and economic growth concerns, according to Barclays. Source
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Box’s buzz has long since passed but the stock is trading near a record while cloud peers suffer
Box CEO Aaron Levie speaking at BoxWorks in 2018 Box In this weekly series, CNBC takes a look at companies that made the inaugural Disruptor 50 list, 10 years later. At age 37, Aaron Levie has been at the same job for almost half his life. He’s the CEO of collaboration software vendor Box, a […]
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Longtime Tesla bull Ron Baron plans to hold the stock at least another 8 years
Investor Ron Baron has been one of Tesla’s largest shareholders for years, and he has no plans to change that. Baron told CNBC on Thursday that he thinks the electric vehicle giant’s high-flying stock has much more room to run – and that he plans to continue holding the company’s stock for at least eight […]
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From trolling Tesla to ‘WTF mode’: Here’s why GM insiders say the Hummer EV marks a change for the automaker
GMC Hummer EV Edition 1 Michael Wayland / CNBC PHOENIX – The new electric GMC Hummer pickup is different for General Motors and not just because it isn’t a gas-guzzler like its ancestors. It marks a major shift for the historically conservative Detroit automaker in both form and function, according to those who worked on […]
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Demand for used cars drops from a year ago but high prices aren’t budging
David Paul Morris | Bloomberg | Getty Images Used-car prices appear to be stuck in high gear, despite slowing consumer demand. Last month, sales of used cars less than 10 years old were down 27% compared with March 2021, according to car shopping app CoPilot, which tracks dealership prices nationwide. The average price during that […]
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5 things to know before the stock market opens Thursday
Here are the most important news, trends and analysis that investors need to start their trading day: 1. Wall Street looks steady after two days of Fed-driven selling Traders work on the floor of the New York Stock Exchange (NYSE) in New York, March 29, 2022. Brendan McDermid | Reuters U.S. stock futures were relatively […]
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‘It’s meaningless’ — large Tesla shareholder Ron Baron reacts to Elon Musk joining Twitter’s board
Ron Baron, the CEO of Baron Capital and one of Tesla’s largest shareholders, said that Elon Musk’s 9.2% stake in Twitter, and his accompanying board seat, is not significant. “I think it’s meaningless,” he told CNBC’s “Squawk Box” Thursday. “It’s a tiny investment. $3 billion for a man who is worth $300 billion. He has […]
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