Month: June 2022
Watch Powell’s testimony to Congress on the Fed’s inflation fight, state of the economy
[The stream is set to start at 9:30 a.m. ET] Federal Reserve Chair Jerome Powell on Wednesday began two days of testimony in front of Congress. The central bank chief is expected to provide updates on the state of the economy and on how the Fed plans to curb inflationary pressures not seen since the […]
Read More
Airlines failed to plan for travel boom, says Allied Pilots Association’s Dennis Tajer
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Allied Pilots Association’s Dennis Tajer, a pilot with American Airlines, joins CNBC’s ‘Squawk Box’ to weigh in on the pilot shortage hitting airlines during the busy holiday travel season. Source
Read More
Online lottery ticket company Jackpot gets funding from top sports executives
Online lottery ticket company Jackpot announced Wednesday that it closed on $35 million in series A funding, led by some of the biggest names in sports who see the promising growth potential in digital lottery sales. The cash infusion could enable Jackpot to start rolling out its website and app later this year in select […]
Read More
Another ‘algorithmic’ stablecoin has fallen below its $1 peg — but experts say it’s not ‘Terra 2.0’
Cryptocurrencies have been under immense pressure after the collapse of a so-called stablecoin called terraUSD. Umit Turhan Coskun | Nurphoto via Getty Images A controversial stablecoin launched just before the collapse of a similar token called terraUSD is struggling to maintain its peg to the U.S. dollar. USDD, a so-called “algorithmic” stablecoin that’s meant to […]
Read More
Demand for adjustable-rate mortgages surges, as interest rates make biggest jump in 13 years
Mortgage applications to purchase a home rose 8% last week compared with the previous week, bolstered in part by demand for adjustable-rate mortgages, according to the Mortgage Bankers Association’s seasonally adjusted index. Applications were, however, 10% lower than they were in the same week one year ago. A big jump in mortgage rates may have […]
Read More
Stocks making the biggest moves premarket: Winnebago, La-Z-Boy, Revlon and others
Check out the companies making headlines before the bell: Winnebago (WGO) – The recreational vehicle maker saw its stock jump 3.4% after it beat top and bottom-line estimates for its latest quarter. Winnebago earned an adjusted $4.13 per share, compared with a consensus estimate of $2.96, helped by higher prices and a jump in its […]
Read More
Biden to call for 3-month suspension of gas and diesel taxes
President Joe Biden on Wednesday will call on Congress to suspend federal gasoline and diesel taxes for three months — a move meant to ease financial pressures at the pump that also reveals the political toxicity of high gas prices in an election year. The Democratic president will also call on states to suspend their […]
Read More
World’s largest truckmaker says it’s facing enormous supply chain pressure
Supply chain disruptions are still rippling across the globe, and the head of the world’s largest truckmaker has warned that shortages of parts are slowing the production of thousands of its vehicles. Daimler Truck CEO Martin Daum told CNBC Wednesday that the current supply chain squeeze is among the worst he’s seen in his more […]
Read More
Moderna to build new vaccine facility in Britain
Jakub Porzycki | NurPhoto | Getty Images U.S. biotech firm Moderna will build a new research and manufacturing center in Britain to develop vaccines against new COVID-19 variants, other respiratory illnesses and help improve readiness for any future pandemics. The facility is expected to start producing shots in 2025 and Britain has made a commitment […]
Read More
Moscow and NATO could be heading for a confrontation over Russia’s European exclave of Kaliningrad
A sign reading ‘Kaliningrad’ stands atop the city’s south railway station. Harry Engels | Getty Images Sport | Getty Images A new front in tensions between Russia and NATO has opened up after one of the Western military alliance’s members, Lithuania, banned the transit of some goods coming from Russia to its exclave Kaliningrad on […]
Read More