Month: May 2022
China’s Xi urges officials to ‘resolutely fight’ those who question zero-Covid policy
Xi Jinping seen giving a speech during the centenary of the founding of the Chinese Communist Party, in Fuyang on July 1, 2021. From a political perspective, 2022 is a particularly critical year for China, as Xi is expected to gain an unprecedented third term this fall at the 20th National Party Congress, alongside a […]
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5 things to know before the stock market opens Friday
Here are the most important news, trends and analysis that investors need to start their trading day: 1. Futures drop after worst day for Dow, Nasdaq since 2020 A trader works on the trading floor at the New York Stock Exchange (NYSE) in New York, May 5, 2022. Andrew Kelly | Reuters U.S. stock futures […]
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Best Buy, known for selling TVs and smartphones, expands into beauty gadgets and patio furniture
Electric bikes. Patio furniture. Beauty gadgets. Best Buy is adding merchandise that might surprise shoppers who typically think of its stores and website as a place to buy smartphones, laptops and TVs. The company said Friday it has begun to carry about 100 skin-care devices, including a facial steamer and at-home tool for microdermabrasion, at […]
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Tech companies racked up over $17 billion in losses on equity investments in the first quarter
An electric Amazon delivery van from Rivian cruises down the street with the Hollywood sign in the background. Amazon The tech sell-off of 2022 accelerated in the past couple weeks, with first-quarter earnings reports highlighting challenges like inflation, supply chain shortages and the war in Ukraine. For some tech leaders, the market swoon has created […]
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Job growth accelerated by 428,000 in April, more than expected as jobs picture stays strong
The U.S. economy added slightly more jobs than expected in April amid an increasingly tight labor market and despite surging inflation and fears of a growth slowdown, the Bureau of Labor Statistics reported Friday. Nonfarm payrolls grew by 428,000 for the month, a bit above the Dow Jones estimate of 400,000. The unemployment rate was […]
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JetBlue Airways faces a quarter-century crossroads after Spirit rejects its takeover offer
A JetBlue airliner lands past a Spirit Airlines jet on taxi way at Fort Lauderdale Hollywood International Airport on Monday, April 25, 2022. (Joe Cavaretta/Sun Sentinel/Tribune News Service via Getty Images) Joe Cavaretta | Sun Sentinel | Getty Images JetBlue Airways is at a quarter-century crossroads. The airline’s first flight took off from New York […]
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Stocks making the biggest moves premarket: Under Armour, Cigna, DraftKings and others
Check out the companies making headlines before the bell: Under Armour (UAA) – The athletic apparel maker posted an adjusted first-quarter loss of 1 cent per share, compared with a profit estimate of 6 cents per share. Under Armour also issued a weaker-than-expected outlook for its full-year profit as it absorbs the impact of higher […]
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Bitcoin drops nearly 10% as $126 billion is wiped off the cryptocurrency market
Bitcoin fell sharply after a sell-off of major U.S. stock indices. Bitcoin has been correlated closely to the price movement of the Nasdaq index. Luke MacGregor | Bloomberg | Getty Images Bitcoin cratered on Thursday as a major stock sell-off in the U.S. spooked the cryptocurrency market. Bitcoin was down about 9.6% at $35,743.22 on […]
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Under Armour stock falls as company offers weak guidance, posts unexpected loss
The interior of an Under Armour store is seen on November 03, 2021 in Houston, Texas. Brandon Bell | Getty Images Under Armour on Friday reported an unexpected loss and sales below analysts’ estimates as the company grappled with global supply chain challenges and Covid lockdowns in China. The athletic apparel retailer also issued guidance […]
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Boris Johnson’s Conservatives suffer losses in UK local elections, amid scandal and cost-of-living crisis
PETERBOROUGH, England – Ballot papers are counted at Peterborough Arena, for the U.K.’s local government elections. Prime Minister Boris Johnson’s Conservative Party suffered significant losses, particularly in London. Paul Marriott/PA Images via Getty Images LONDON — The U.K.’s ruling Conservative Party has lost a slew of seats in local elections across England, dealing a potential […]
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