Month: August 2022
Apple supplier Foxconn cautious on outlook as smartphone sales slow
Apple Inc supplier Foxconn reported that it beat its April-June net profit expectations. Photo by Lam Yik Fei/Bloomberg via Getty Images Apple Inc supplier Foxconn gave a cautious outlook for the current quarter after posting results that exceeded expectations, citing slowing smartphone demand after a pandemic-fuelled boom. The comments from the Taiwanese company, the world’s […]
Read More
Deliveroo first-half losses widen as food delivery firm plans exit from the Netherlands
A Deliveroo rider near Victoria station on March 31, 2021 in London, England. Dan Kitwood | Getty Images Losses at British meal delivery firm Deliveroo swelled in the first half of 2022 while revenue growth slowed dramatically, as the disappearance of pandemic restrictions and a rise in the cost of living dented demand for online […]
Read More
China consumer prices hit a two-year high
Customers buying pork at a food market in Shanghai, China. Prices of pork, a food staple in China, rose by 20.2% in July 2022 compared to a year ago, official data showed. Qilai Shen | Bloomberg | Getty Images BEIJING — China’s consumer price index hit a two-year high in July as pork prices rebounded, […]
Read More
Sen. Ron Johnson faces Democratic challenger Mandela Barnes in Wisconsin general election
Wisconsin Lieutenant Governor Mandela Barnes who is running to become the Democratic nominee for the U.S. senate greets guests during a campaign event at The Wicked Hop on August 07, 2022 in Milwaukee, Wisconsin. Scott Olson | Getty Images Republican Sen. Ron Johnson of Wisconsin will defend his seat against Democratic Lt. Gov. Mandela Barnes […]
Read More
FBI seized about a dozen boxes in raid of Trump home in Florida, lawyer says
Local law enforcement officers are seen in front of the home of former President Donald Trump at Mar-A-Lago in Palm Beach, Florida on August 9, 2022. Giorgio Viera | AFP | Getty Images FBI agents seized about a dozen boxes during a raid of the Florida home of former President Donald Trump on Monday, his […]
Read More
Cramer’s lightning round: Dropbox is a pass
Dropbox Inc: “Nothing ever happens to the stock, and I think that that’s because nothing’s going to happen to the stock. … I’m going to have to say, pass.” 23andMe Holding Co: “The stock has no mojo. That’s a technical term for ‘not going anywhere.’” Source
Read More
Restaurateur Danny Meyer says inflation has helped drive workers back into the food industry
High inflation and the money-making opportunities it’s created have driven workers back to the restaurant industry, Danny Meyer told CNBC’s Jim Cramer on Tuesday. “There’s no question that menu prices are higher than they’ve ever been. But guess what that translates to – if you do have a tipping model in your restaurants, servers are […]
Read More
Don’t bet against short sellers in this market, Jim Cramer warns
CNBC’s Jim Cramer on Tuesday warned investors to avoid buying money-losing stocks in a bet against short sellers. The market went in favor of short-sellers on Tuesday after the major indices fell. The market teetered earlier in the day as it digested disappointing financial reports from companies and prepared for key inflation numbers later this […]
Read More
Facebook turned over chat messages between mother and daughter now charged over abortion
Facebook turned over the chats of a mother and daughter to Nebraska police after getting served with a warrant as part of an investigation into an illegal abortion, court documents show. The investigation, which was launched in April before the Supreme Court overturned Roe v. Wade, is one of the few known instances where Facebook has turned […]
Read More
Sam Bankman-Fried’s crypto firms had deep ties to Voyager Digital and its bankruptcy wipeout
Sam Bankman-Fried, co-founder and chief executive officer of FTX, in Hong Kong, China, on Tuesday, May 11, 2021. Lam Yik | Bloomberg | Getty Images Sam Bankman-Fried became a crypto billionaire and one of the most famous players in the industry by building cryptocurrency exchange FTX into a top site used by traders and investors. […]
Read More