Month: June 2022
Amazon CEO of Worldwide Consumer Dave Clark resigns
Dave Clark, Amazon’s senior vice president of worldwide operations. Lindsey Wasson | Reuters Dave Clark, CEO of Amazon’s worldwide consumer business and a top lieutenant of Andy Jassy, will resign July 1 after 23 years at the company, Amazon announced in a regulatory filing Friday. Clark is one of a handful of the most important […]
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Two notable Wall Street strategists say this is just a bear market bounce
Two widely followed strategists on Wall Street — Bank of America’s Michael Hartnett and Morgan Stanley’s Mike Wilson — see more trouble ahead in the stock market and are urging investors to not breathe a sigh of relief just because of the latest rally. “Is there a bull case? We find it difficult to construct […]
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Payrolls rose 390,000 in May, better than expected as companies keep hiring
The U.S. economy added 390,000 jobs in May, better than expected despite fears of an economic slowdown and with a roaring pace of inflation, the Bureau of Labor Statistics reported Friday. At the same time, the unemployment rate held at 3.6%, just above the lowest level since December 1969. Economists surveyed by Dow Jones had […]
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House Oversight investigating $2 billion Saudi investment in Jared Kushner’s firm
White House senior adviser Jared Kushner stands among Saudi officials as President Donald Trump talks with Crown Prince Mohammad bin Salman of the Kingdom of Saudi Arabia during a meeting in the Oval Office at the White House on Tuesday, March 20, 2018 in Washington, DC. The Washington Post | The Washington Post | Getty […]
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Tesla shares dip on Elon Musk’s plans to cut workforce
Elon Musk, during an event at SpaceX headquarters in Hawthorne, California, U.S., on Thursday, Oct. 10, 2019. Bloomberg /Getty Tesla shares dipped about 6% on Friday on news that CEO Elon Musk plans for a hiring freeze and 10% job cuts at his electric vehicle and renewable energy venture. Reuters reported late Thursday on an […]
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‘Buy now, pay later’ loans make it tough to get a handle on your credit
Payment history often not reported BNPL companies generally don’t report to the credit-scoring companies when consumers use these loans. That makes it a challenge for a lender to know how many loans a consumer has outstanding. “That makes a big difference in terms of how much you should loan,” said Kenneth Lin, CEO of fintech […]
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Musk’s Twitter deal faces backlash from advocacy groups that are seeking to block it
Pavlo Gonchar | Lightrocket | Getty Images A dozen advocacy groups are launching a new campaign Friday aimed at blocking Tesla CEO Elon Musk’s $44 billion purchase of Twitter, warning he will degrade important safeguards on the platform if he’s allowed to take control. The Stop the Deal campaign, shared exclusively with CNBC, includes plans […]
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Stocks making the biggest moves premarket: Turning Point Therapeutics, Lululemon, RH and others
Check out the companies making headlines before the bell: Turning Point Therapeutics (TPTX) – The biopharmaceutical company’s shares more than doubled in premarket trading after agreeing to be acquired by Bristol Myers Squibb (BMY) for $76 per share in cash, or $4.1 billion. Turning Point specializes in cancer treatments. Lululemon (LULU) – Lululemon shares rose […]
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OPEC+ has ‘kind of broken down’ as Russia loses relevance and group faces tight spare capacity
OPEC+ has “kind of broken down,” the lead analyst of an oil research firm said after oil prices rose despite the alliance announcing that it would increase supply more quickly. OPEC and its allies decided to take nearly 10 million barrels off the oil market in 2020 when Covid first hit and demand evaporated. The […]
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Oil slips after OPEC+ hike, tight supply limits loss
An oil well pump jack operated by Chevron Corp. in San Ardo, California, U.S., on Tuesday, April 27, 2021. David Paul Morris | Bloomberg | Getty Images Oil slipped on Friday after OPEC+ decided to increase production targets by slightly more than planned, although tight global supply and rising demand as China eases Covid restrictions […]
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