Month: July 2022
Here’s what you need to know if you’re traveling for the Fourth of July
NBC’s Tom Costello joins ‘Squawk Box’ to break down how much Americans can expect to spend on travel over the holiday weekend amid higher energy prices. Source
Read More
Stocks making the biggest moves premarket: Kohl’s, Micron, Apple and more
Check out the companies making headlines before the bell: Kohl’s (KSS) – Kohl’s tumbled 17.9% in premarket trading after the retailer confirmed an earlier CNBC report that it ended talks to be bought by Vitamin Shoppe parent Franchise Group (FRG). Kohl’s said the deteriorating retail and financial environment presented significant obstacles to concluding a deal. […]
Read More
Priceline CEO: It’s a healthy travel economy at the moment
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Priceline CEO Brett Keller joins CNBC’s ‘Squawk Box’ to explain why higher air costs and hotel prices are not slowing down the summer travel surge. Source
Read More
Bank of America downgrades Micron, says recovery is ‘unlikely’ this year
A recovery this year is “unlikely” for Micron Technology, given weak consumer demand for smartphones and PCs, according to Bank of America. The memory chip maker saw its shares fall after hours Thursday after issuing a warning on low chip demand. Analyst Vivek Arya downgraded shares of Micron to neutral from buy, saying in a […]
Read More
UK-based startup Tevva launches hydrogen-electric truck with 310-mile range
U.K.-based startup Tevva on Thursday launched a hydrogen-electric heavy goods vehicle, becoming the latest company to make a play in a sector attracting interest from multinationals like Daimler Truck and Volvo. According to Tevva, which says it has raised $140 million in funding, its vehicle will have a range of as much as 310 miles, […]
Read More
JPMorgan says investors are too worried about Apple, sees 40% rebound before year-end
Apple may be dealing with lower consumer demand and growing FX challenges, but JPMorgan is “not as worried” about the tech company as investors. Analyst Samik Chatterjee reiterated an overweight rating on Apple, saying in a Friday note that the tech company will remain resilient and climb 40% this year, even amid slower demand for […]
Read More
Russia says iron curtain is ‘already descending’; Biden pledges to stick with Ukraine for ‘as long as it takes’
Russian trial for American basketball player Brittney Griner begins American basketball player Brittney Griner (pictured here at the Tokyo 2020 Olympic Games) was accused by Russian authorities of having cannabis oil in her luggage and smuggling the narcotic material, a crime that could draw a 10-year jail sentence. Jean Catuffe | Getty Images American basketball […]
Read More
Euro zone inflation hits record 8.6% as the European Central Bank prepares for its first rate hike in 11 years
The ECB has announced it will be hiking rates in July and September to counter record inflation. Daniel Roland | Afp | Getty Images Euro zone inflation reached a new record high in June just ahead of the European Central Bank’s first rate increase in 11 years. Headline inflation came in at 8.6% (year-on-year) for […]
Read More
Hong Kong’s new leader has work cut out for him. Here are some of his priorities
Xi Jinping, China’s president, right, swears-in John Lee, Hong Kong’s chief executive, at a ceremony in Hong Kong, China, on Friday, July 1, 2022. Hong Kong’s new security-minded leader was sworn in by President Xi Jinping as the city marks 25 years of Chinese rule, after declaring the Asian financial hub had been reborn after […]
Read More
Five reasons bitcoin had its worst quarter in more than a decade
1. Macroeconomic pressure During the quarter, the U.S. Federal Reserve carried out two aggressive interest rate hikes to battle rampant inflation. That has sparked fears of a recession in the U.S. and other countries. It has also hit stocks, in particular high-growth technology names. The tech-heavy Nasdaq Composite is down 22.4% for the second quarter, […]
Read More