Month: June 2022
Target warns of squeezed profits as it rolls out aggressive plan to get rid of unwanted inventory
Shoppers walk in front of a Target store at the Lycoming Crossing shopping plaza in Muncy, Pennsylvania. Sopa Images | Lightrocket | Getty Images Target warned investors Tuesday that its profits will take a short-term hit, as it marks down unwanted items, cancels orders and takes aggressive steps to get rid of extra inventory. The […]
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$40 billion payments giant Checkout.com starts accepting stablecoins in major crypto push
The logo for payments start-up Checkout.com. Checkout.com AMSTERDAM — Online payments company Checkout.com says it will settle payments for its merchants round-the-clock using stablecoins, making it the last major financial services firm taking the plunge into crypto. The start-up, which competes with the likes of PayPal and Stripe, said Tuesday it is launching a feature […]
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Tech companies urge U.S. to let the kids of visa holders stay past the age of 21
Muthumalla Dhandapani, an Indian immigrant with an H1-B visa and a Comcast employee in Sunnyvale, protests President Trump’s immigration orders in 2017. Santiago Mejia | Hearst Newspapers | Getty Images A coalition of tech companies including Amazon, Google, Salesforce and Uber are urging the Department of Homeland Security to revise policies for children of high-skilled […]
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Bipartisan crypto overhaul seeks to treat most digital assets as commodities and empower CFTC
U.S. Capitol building in Washington, D.C. Liu Jie | Xinhua News Agency | Getty Images As excited as Wall Street and Main Street were to have crypto as a new investment idea and store of value, the speed at which cryptocurrencies entered mainstream U.S. markets caused proportionate angst for U.S. regulators, who were equipped only […]
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Ukraine retakes parts of Severodonetsk amid brutal street fighting; Zelenskyy mourns ‘dead cities’. Follow our live updates
Zelenskyy mourns Ukraine’s ‘dead cities’ Ukrainian President Volodymyr Zelenskyy decried what he called Ukraine’s “dead cities,” once centers of life now almost entirely destroyed by Russian bombardment. He was referring to Severodonetsk and Lysychansk, crucial remaining holdouts in the country’s east that Russian forces have almost entirely captured and that are key in Moscow’s aims […]
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CNBC Pro Talks: Buffett disciple and veteran investor Mohnish Pabrai shares his latest market strategy
Join the upcoming Pro talks , as CNBC’s Tanvir Gill speaks to Mohnish Pabrai, value investor and managing partner of Pabrai Investment Funds, on his current market outlook, his playbook on what to buy and what to avoid. Pabrai will also share his top stock picks and his strategy around tech volatility. A stream of […]
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Boris Johnson hangs on as UK prime minister — just — but his days could be numbered
Johnson will visit Northern Ireland on Monday to hold emergency talks. Daniel Leal | Afp | Getty Images LONDON — U.K. Prime Minister Boris Johnson survived a vote of confidence on Monday night but discontent over his leadership is expected to rumble on, with analysts stating that his days in office are numbered. Monday’s vote […]
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To boost solar, Biden looks the other way on potential Chinese trade violations
U.S. President Joe Biden’s move to prohibit new tariffs on the solar panels also took the teeth out of an investigation by the Commerce Department that was required by law. Logan Cyrus | The Washington Post | Getty Images Facing paralysis of the U.S. solar industry, President Joe Biden has ordered that potential trade violations by Chinese solar panel […]
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Australia’s central bank raises rates by 50 basis points in hawkish surprise
People walk past the Reserve Bank of Australia building in Sydney. On May 3, 2022, Australia’s central bank raised interest rates for the first time in more than a decade to curb soaring consumer prices. Saeed Khan | AFP | Getty Images Australia’s central bank on Tuesday raised interest rates by the most in 22 […]
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Russia’s failure to achieve major goals in Ukraine is ‘quite embarrassing,’ ex-U.S. official says
A destroyed Russian tank about 25 miles west of Kyiv. Russia failed to achieve its key tactical objectives in the first 100 days of the Ukraine war, according to a former U.S. diplomat. (Photo by Sergei Chuzavkov/SOPA Images/Sopa Images | Lightrocket | Getty Images Russia has failed to achieve its strategic goals in the first […]
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