Month: August 2022
Ford reports big jump in July sales, including for trucks and electric vehicles
Ford F-150 Lightning at the 2022 New York Auto Show. Scott Mlyn | CNBC DETROIT – Ford Motor’s U.S. vehicle sales last month showed notable improvements in volumes and truck availability, following a fire at a supplier’s plant in Japan that hurt its year-ago sales. The Detroit automaker said Wednesday its new vehicle sales rose […]
Read More
It has been a miserable month for crypto — and it’s only the third day of August
It has been a rough month for the crypto sector, and it’s only the third day of August. From cross-chain bridge hacks draining hundreds of millions of dollars in customer funds to the Securities and Exchange Commission coming after crypto ponzi schemes, this corner of the market can’t catch a break. The developments add to […]
Read More
CVS says it plans to get into primary care by year end
A CVS Pharmacy store is seen in the Manhattan borough of New York City, New York. Shannon Stapleton | Reuters CVS said Wednesday that it plans to acquire or take a stake in a primary-care company by the end of the year, as competition heats up with Amazon and Walgreens. CEO Karen Lynch said on […]
Read More
Ongoing solana attack targets thousands of crypto wallets, costing users more than $5 million so far
The logo of cryptocurrency platform Solana. Jakub Porzycki | NurPhoto via | Getty Images Nearly 8,000 digital wallets have been drained of just over $5.2 million in digital coins including solana’s sol token and USD Coin (USDC), according to blockchain analytics firm Elliptic. The Twitter account Solana Status confirmed the attack, noting that as of […]
Read More
Stocks making the biggest moves premarket: CVS, Under Armour, Moderna and more
Check out the companies making headlines before the bell: CVS Health (CVS) – The drugstore operator and pharmacy benefits manager saw its shares rise 3.8% in the premarket after beating top- and bottom-line estimates and raising its full-year earnings forecast. Results were helped by strong sales of over-the-counter Covid-19 tests as well as an upbeat […]
Read More
Fed’s Bullard sees more interest rate hikes ahead and no U.S. recession
St. Louis Federal Reserve President James Bullard said Wednesday that the central bank will continue raising rates until it sees compelling evidence that inflation is falling. The central bank official said he expects another 1.5 percentage points or so in interest rate increases this year as the Fed continues to battle the highest inflation levels […]
Read More
Why Amazon’s digital ad business grew faster than all its rivals in the second quarter
The Amazon logo displayed on a smartphone and a PC screen. Pavlo Gonchar | LightRocket via Getty Images Social media giants Meta and Snap are telling investors that the online advertising market is experiencing some turbulence due to the economic slowdown. Amazon is sending a very different message. While the bulk of its business comes […]
Read More
The $300 billion meme stock that makes GameStop look like child’s play
The Reddit logo is seen on a smartphone in front of a displayed Wall Street Bets logo in this illustration taken January 28, 2021. Dado Ruvic | Reuters Think the meme stock mania is so 2021? Just take a look at AMTD Digital. The little-known Hong Kong-based fintech firm saw its shares skyrocket 126% Tuesday […]
Read More
Comcast and Charter may need new focus as broadband growth stalls amid competition
Brian Roberts, CEO of Comcast (L), and Tom Rutledge, chief executive officer of Charter Communications Drew Angerer | Getty Images Comcast and Charter, the two largest U.S. cable companies, have a broadband growth problem. As tens of millions of Americans canceled their cable TV subscriptions in the past decade, the cable industry focused on the […]
Read More
Pelosi’s trip to Taiwan is like ‘pouring salt in an open wound for China’, Stephen Roach says
House Speaker Nancy Pelosi’s trip to Taiwan ramps up U.S.-China tensions and risks pushing the countries further apart, according to one economist. On Wednesday, the top U.S. lawmaker met Taiwan President Tsai Ing-wen in a highly controversial visit that has angered Beijing. “We’re on a trajectory of escalating conflict and this will certainly make matters […]
Read More