Month: May 2022
Saudi foreign minister says the kingdom’s hands are ‘stretched out’ to Iran
Saudi Arabia is seeing some progress on dialogue with its longtime adversary Iran, but not enough, the kingdom’s Foreign Minister Prince Faisal bin Farhan al-Saud told CNBC on Tuesday. In the meantime, the minister says it is eager to improve the two countries’ relationship. “In Saudi Arabia, and I think it’s the same in the […]
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Bank of America CEO Brian Moynihan says nothing will slow U.S consumer from spending money
Brian Moynihan, CEO of Bank of America, speaking at the WEF in Davos, Switzerland on May 23rd, 2022. Adam Galica | CNBC U.S. consumers are “in good shape” and will keep spending at an elevated clip, at least in the near term, according to Bank of America CEO Brian Moynihan. “Consumers are in good shape, […]
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Soros says civilization may not survive Russia’s Ukraine invasion, warns of global depression
Hungarian-born US investor and philanthropist George Soros. Fabrice Coffrini | AFP | Getty Images Liberal billionaire George Soros on Tuesday warned of a global depression, and said Russia’s invasion of Ukraine could be looked back on as the starting point of World War III. At his annual dinner amid the World Economic Forum, Soros said […]
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When the market was tanking, these stocks were hitting all-time highs and could go even higher
While market losses were racking up, this group of stocks was breaking out to all-time highs and looks set for even more gains. The group is Big Pharma. It’s been long viewed as stodgy by investors looking for quicker price gains. Recently, however, as other stocks slid, these companies have become more attractive because of […]
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Microsoft is selling the metaverse now — and it’s helping make everything from robots to ketchup
Microsoft’s HoloLens 2. Andrew Evers | CNBC You may not be ready to jump into the metaverse for fun, but it could be coming to work sooner than you think. Microsoft announced Tuesday that Kawasaki is a new customer for the tech giant’s so-called “industrial metaverse” — a fancy way of saying factory floor workers […]
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That vacation rental listing could be a scam. These are the warning signs to look out for
Ozgurcankaya | E+ | Getty Images Biggest warning sign The biggest red flag that a listing is a scam is when you are asked to leave a listing platform such as Vrbo or Airbnb in order to provide a payment, Couch-Friedman said. A fake real estate owner will ask a consumer to send $500, for […]
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Snap’s warning sends shock across digital advertising as investors flee social media stocks
Evan Spiegel, CEO and co-founder of Snap Inc. Adam Galica | CNBC Social media companies were already having a rough year from the cutback in digital ad spending caused by rising inflation, supply chain challenges and the war in Ukraine. Forecasts for the second quarter called for meager growth at best, and stock prices were […]
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Bill Ackman says a more aggressive Fed or market collapse are the only ways to stop this inflation
Billionaire hedge fund manager Bill Ackman said raging inflation will only dissipate if the Federal Reserve acts more aggressively or the market sell-off turns into a full-on collapse. “There is no prospect for a material reduction in inflation unless the Fed aggressively raises rates, or the stock market crashes, catalyzing an economic collapse and demand destruction,” Ackman […]
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Biden says his Taiwan comments don’t reflect a change in U.S. policy after drawing ire from China
U.S. President Joe Biden speaks during a joint news conference with Japan’s Prime Minister Fumio Kishida after their bilateral meeting at Akasaka Palace in Tokyo, Japan, May 23, 2022. Jonathan Ernst | Reuters President Joe Biden insisted Tuesday that the U.S. hasn’t changed its strategic policy on Taiwan, a day after he angered Beijing when […]
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Nearly one in five Amazon delivery drivers suffered injuries in 2021, study finds
Amazon driver Shawndu Stackhouse delivers packages in Northeast Washington, D.C., on Tuesday, April 6, 2021. Tom Williams | CQ-Roll Call, Inc. | Getty Images Amazon’s delivery operations are suffering from an “escalating injury crisis,” driven largely by punishing quotas and pressure to ferry packages as quickly as possible, according to a new study. Nearly one […]
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