Month: June 2022
Longtime Google exec Nick Fox to take interim commerce business post after Ready departs to Pinterest
Nick Fox, vice president of product and design for Search and Assistant. Longtime Google exec Nick Fox will take over the company’s commerce and payments business on an interim basis. Fox’s appointment comes a day after the former head, Bill Ready, announced he is taking over the helm of Pinterest, replacing longtime CEO and founder […]
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Amazon wants us to believe the robots are coming — but most people won’t find them useful
Amazon’s Astro home robot Amazon Electronics companies have, for years, paraded around flashy, futuristic prototypes of consumer robots. They’ve pointed to a not-too-distant future where people will have roaming robot helpers around their home that can do the dishes or even act as a personal masseuse. So far, few of those predictions have panned out, […]
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RH shares slide after company lowers its outlook for the year
Jason Kempin | Getty Images Entertainment | Getty Images High-end furniture chain RH on Wednesday slashed its outlook for 2022 revenue, anticipating consumer demand for its products will continue to soften in the back half of the year. The company now sees annual sales down between 2% and 5%, compared with prior expectations that saw […]
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Debt collectors’ ‘pay to pay fees’ are ‘often illegal,’ consumer watchdog agency says
Anchiy | E+ | Getty Images Certain “junk” fees often levied by debt collectors are illegal under federal law, the Consumer Financial Protection Bureau said Wednesday. Debt collectors charge so-called “pay-to-pay” fees, which are also known as convenience fees, when consumers make a payment online or over the phone, according to the federal agency. These […]
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French court convicts 20 in 2015 Paris Bataclan theater attack that killed 130 people
A special French court on Wednesday found 20 men guilty of involvement in the Islamic State terrorist attacks on the Bataclan theater, Paris cafes and France’s national stadium in 2015 that killed 130 people in the deadliest peacetime attacks in French history. The chief suspect and only survivor of the 10-member team of extremists, Salah […]
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‘It’s like going to the DMV online’: What to know about buying Series I savings bonds via TreasuryDirect
Eakgrunge | Istock | Getty Images There’s been record demand for federal Series I savings bonds, an inflation-protected and nearly risk-free asset, offering an eye-popping 9.62% annual return through October. However, it’s not easy to buy I bonds through TreasuryDirect, a 20-year-old platform run by the U.S. Department of the Treasury, financial advisors say. “It’s […]
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Recession stars: The best stocks in every industry during economic downturns
As Wall Street trots out stock picks to weather downturns, CNBC Pro reviewed past recessions to find the best performers in each industry. More analysts this week are updating their ratings for the likelihood of a recession. On Wednesday, Bank of America upgraded shares of Goldman Sachs to buy from neutral, saying the bank can […]
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Unilever reaches deal to keep selling Ben & Jerry’s ice cream in Israel
Consumer products giant Unilever said it reached a deal that will let its Ben & Jerry’s ice cream business continue selling in Israel. The company said Wednesday that it sold the Israeli branch of the ice cream brand for an undisclosed sum to Avi Zinger, whose American Quality Products already licenses Ben & Jerry’s ice […]
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Goldman expects weak Tesla results, recommends these EV plays
With weak results likely ahead for Tesla , Goldman Sachs says it’s time to invest in these companies tied to electric vehicle production. The bank on Tuesday shared a list of names to play the burgeoning market as it anticipates further headwinds ahead for the EV giant, given its China exposure. “For Tesla, while the […]
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Supreme Court Justice Stephen Breyer will retire Thursday, to be replaced by Ketanji Brown Jackson
U.S. Supreme Court Justice Stephen Breyer speaks during an event at the Library of Congress for the 2022 Supreme Court Fellows Program hosted by the Law Library of Congress, in Washington, February 17, 2022. Evan Vucci | Pool | Reuters Supreme Court Justice Stephen Breyer told President Joe Biden that he will officially retire at […]
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