Month: July 2022
GM’s quarterly sales fall but show improvement from beginning of year
The GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, March 16, 2021. Rebecca Cook | Reuters DETROIT – General Motors’ U.S. vehicle sales were down about 15% in the second quarter from a year ago as the automaker continues to battle supply chain issues, but showed improvement from […]
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Biden awards posthumous Medal of Freedom to Apple co-founder Steve Jobs
The late Apple CEO Steve Jobs unveiling the first iPhone in 2007. David Paul Morris | Getty Images News | Getty Images President Joe Biden on Friday awarded the Presidential Medal of Freedom posthumously to Apple co-founder Steve Jobs, along with 16 other people. The award is the country’s highest civilian honor and the White […]
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Kohl’s says a real estate sale is on the table after scrapping deal talks
People walk near a Kohl’s department store entranceway on June 07, 2022 in Doral, Florida. Joe Raedle | Getty Images Kohl’s might not be selling its business after all. But it’s now looking to sell some of its real estate, reversing its prior stance. The retailer on Friday announced it terminated deal talks with The […]
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Crypto billionaire Sam Bankman-Fried says more exchanges will fail: ‘There are companies that are basically too far gone’
The so-called crypto winter isn’t over yet — and a number of cryptocurrency exchanges have already run out of cash, billionaire and founder of crypto exchange FTX Sam Bankman-Fried said on Tuesday. There are “some third-tier exchanges that are already secretly insolvent,” Bankman-Fried told Forbes. The 30-year-old’s own fortune has taken a significant cut this […]
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Massive pile-up of cars, auto parts, Ikea exports bound for U.S. due to European port labor strife
Labor slowdowns and strikes at the German and Netherland ports are creating a massive pile-up of export containers bound for the U.S. that will take months to clear out. According to the bills of lading found through ImportGenius, some of the items that are exported out of these ports are critical components to the auto […]
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Fourth of July travel surge puts airlines — and passengers — to the test
Travelers at LaGuardia Airport in New York on June 30, 2022. Leslie Josephs | CNBC The Fourth of July holiday weekend will put airlines to the test after a messy spring angered travelers and drew sharp criticism from Washington. Already this year, the rate of flight cancellations and delays in June is higher than before […]
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Amazon blocks searches for LGBTQ+ products in the United Arab Emirates amid regional anti-homosexuality push
Marc Bruxelle/ EyeEm/ Getty DUBAI, United Arab Emirates – E-commerce giant Amazon is blocking search results for LGBTQ-related products on its United Arab Emirates website, following a series of pushbacks against same-sex themes in the Gulf region. Amazon made the decision after coming under pressure from UAE authorities, who reportedly threatened it with penalties and […]
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This tech CEO says you should implicitly trust your co-workers. Here’s why
Bev White, CEO of Nash Squared, shares her career-defining lightbulb moment with CNBC’s “My Biggest Lessons.” Taking a leap of faith and trusting your colleagues almost always pays off, according to tech CEO Bev White. “We’ve all worked with those people that say, ‘You have to earn my trust.’ I really don’t agree with that,” […]
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The S&P 500 just had its worst first half in more than 50 years, which ‘stressed’ this classic investment strategy
Stock trader on the floor of the New York Stock Exchange. Spencer Platt | Getty Images News | Getty Images The S&P 500 Index, a barometer of U.S. stocks, just had its worst first half of the year going back over 50 years. The index fell 20.6% in the past six months, from its high-water […]
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Wall Street believes these Nasdaq names will lead a comeback after its worst quarter since 2008
It was a vicious first half and quarter for stocks, but especially for members of the tech-heavy Nasdaq Composite. Rising inflationary concerns spooked investors, who increasingly turned on one-time tech darlings that are more sensitive to rising interest rates. The Nasdaq Composite dropped 29% in the first half, the most of the three major averages. […]
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