Month: May 2022
Rivian stock plummets as Ford unloads 8 million shares of EV start-up
Production of electric Rivian R1T pickup trucks on April 11, 2022 at the company’s plant in Normal, Ill. Michael Wayland / CNBC Shares of Rivian Automotive plummeted in premarket trading Monday following a CNBC report that Ford Motor is selling 8 million shares of the electric vehicle start-up. Rivian’s stock was down 19% in extended […]
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Fed’s Neel Kashkari confident inflation can come down, but not without some pain
Neel Kashkari Anjali Sundaram | CNBC Minneapolis Federal Reserve President Neel Kashkari said Monday he’s confident inflation will come back to normal though it’s taking longer than he expected. Acknowledging that he was on “team transitory” in believing that surging prices wouldn’t last, he said persistent supply-demand imbalances have generated the highest inflation levels in […]
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Microsoft launches cybersecurity services to help clients fight off ransomware and other attacks
Satya Nadella, CEO of Microsoft CNBC Microsoft’s security business is growing faster than any of its main products, and now the company is adding heft to its offerings with three new services designed to help organizations spot and respond to cybersecurity incidents. Microsoft is among the leaders in cloud software and infrastructure, which means its […]
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A $3.5 billion bet on bitcoin becoming a ‘reserve currency’ for crypto is being put to the test
Pedestrians walk past a display of cryptocurrency Bitcoin on February 15, 2022 in Hong Kong, China. Anthony Kwan | Getty Images A multibillion-dollar bet that bitcoin can act as a “reserve currency” for the crypto economy is already being tested as UST, a controversial stablecoin, struggles to maintain its $1 peg. UST dropped close to […]
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Sri Lanka’s Prime Minister resigns, curfew imposed after clashes
Sri Lankan Prime Minister Mahinda Rajapaksa stepped down as demonstrator’s protest the country’s worst economic downturn. Nurphoto | Nurphoto | Getty Images Sri Lanka’s prime minister resigned on Monday, hours after clashes with pro- and anti-government demonstrators in the commercial capital Colombo amid the country’s worst economic crisis that has spurred protests by thousands. During […]
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5 things to know before the stock market opens Monday
Here are the most important news, trends and analysis that investors need to start their trading day: 1. Nasdaq futures over drop 2% as stocks continue to sell off Traders on the floor of the NYSE, May 6, 2022. Source: NYSE The Nasdaq was poised to lead Wall Street lower again Monday, with futures tied […]
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Hungary’s Orban — a longtime Putin ally — stalls Europe’s Russian oil embargo
Hungary Prime Minister Viktor Orban — a longtime ally of Russian President Vladimir Putin — has said that ending Russian oil purchases would be an “atomic bomb” on Hungary’s economy. Attila Kisbenedek | Afp | Getty Images The European Union is struggling to approve a sixth round of sanctions against Russia with a few nations […]
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Stocks making the biggest moves in the premarket: Palantir, Rivian, Uber and more
Take a look at some of the biggest movers in the premarket: Palantir Technologies (PLTR) – The data analytics software company’s shares plunged 15.1% in premarket trading after posting a mixed quarter. Palantir reported profit of 2 cents per share, compared to a 4 cents a share consensus estimate. Revenue was higher than expected, however, […]
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Interest rates are surging — here’s how to protect your money
An entire generation is experiencing higher interest rates for the first time in their adult lives. Interest rates have been at historic lows since the global financial crisis — but they’re beginning to creep up. An entire generation of people is experiencing higher interest rates for the first time in their adult lives. Interest rates […]
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Putin blames the West for Ukraine war in ‘Victory Day’ speech
Russian President Vladimir Putin is seen on the screen as he delivers a speech during 77th anniversary of the Victory Day in Red Square in Moscow, Russia on May 09, 2022. Anadolu Agency | Anadolu Agency | Getty Images President Vladimir Putin on Monday tried to defend Russia’s unprovoked invasion of Ukraine in his annual […]
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