Day: December 7, 2022
Jim Cramer says not to fear bearish economic talk from bank CEOs – there’s no ‘financial apocalypse’
CNBC’s Jim Cramer on Wednesday told investors that they should take gloomy economic commentary from bank executives with a grain of salt. “Don’t panic the next time you hear one of these bank CEOs say something terrifying — they don’t know the impact of their words,” he said, adding, “Sure, we’ve got plenty of problems, […]
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Mortgage demand falls again even as rates sink further
A “For Sale” sign in front of a home in Sacramento, California, on Monday, Dec. 5, 2022. David Paul Morris | Bloomberg | Getty Images Lower mortgage rates are pulling some current homeowners back to the refinance market, but not enough to offset the drop in demand from homebuyers. Mortgage application volume fell 1.9% last […]
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Used vehicle demand and prices continue to decline from record highs
A pedestrian walks past a certified pre-owned car sales lot in Alhambra, California on January 12, 2022. Frederic J. Brown | AFP | Getty Images DETROIT – Wholesale prices of used vehicles reached their lowest level in more than a year last month, as retail sales decline amid interest rate hikes, rising new vehicle availability […]
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Previous Theranos COO Sunny Balwani sentenced to just about 13 yrs in jail
Previous Theranos main operating officer and president Ramesh “Sunny” Balwani was sentenced to just about 13 several years in jail Wednesday for fraud, immediately after the unraveling of the blood-tests juggernaut prompted felony expenses in California federal court docket from both of those Balwani and Theranos founder Elizabeth Holmes, who on Nov. 18 was sentenced […]
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Home Economic Providers Chair Waters does not prepare to subpoena Sam Bankman-Fried to testify at listening to on FTX collapse
Rep. Maxine Waters (D-CA) participates in a Property Monetary Products and services Committee listening to in Washington, Oct 23, 2019. Erin Scott | Reuters Household Monetary Products and services Committee Chairwoman Maxine Waters explained to Democrats she does not strategy to subpoena previous FTX CEO Sam Bankman-Fried to testify at Tuesday’s listening to about the […]
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Google, Oracle, Amazon, and Microsoft awarded $9 billion Pentagon cloud deals
The Pentagon making in Washington, D.C. Employees | AFP | Getty Illustrations or photos The Pentagon mentioned Wednesday that Amazon, Google, Microsoft and Oracle every single received a cloud-computing contract that can arrive at as large as $9 billion each individual via 2028. The end result of the Joint Warfighting Cloud Functionality, or JWCC, energy […]
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Rent the Runway shares surge after fashion rental company reports stronger quarterly sales
Jennifer Hyman, Rent the Runway Scott Mlyn | CNBC As some shoppers think twice about purchases, Rent the Runway is getting a bump. The fashion rental and subscription company on Wednesday reported stronger quarterly revenue that beat expectations and raised its financial outlook for the year as customers opted to borrow designer clothes instead of […]
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Federal judge dismisses crypto scam lawsuit against Kim Kardashian, Floyd Mayweather Jr.
A federal judge on Wednesday dismissed a proposed class action lawsuit by investors against the founders of the cryptocurrency EthereumMax, as well as celebrity endorsers including Kim Kardashian and boxer Floyd Mayweather Jr. over their promotion of the cryptocurrency on social media. Investors who bought EMAX tokens alleged they had suffered losses after taking the […]
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GameStop reports decline in revenue and sharp decrease in cash
A screen displays the logo and trading information for GameStop on the floor of the New York Stock Exchange (NYSE) March 29, 2022. Brendan McDermid | Reuters GameStop said Wednesday its fiscal third quarter sales declined and its cash pile sharply dwindled, as the brick-and-mortar retailer has been working to expand its digital presence. In […]
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First-ever California offshore wind auction surpasses $757 million in bids
Offshore wind farm. davee hughes uk | Moment | Getty Images The Biden administration on Wednesday announced more than $757 million in winning bids for its auction of offshore wind development rights in California, marking the third offshore wind lease sale this year and the first ever for the Pacific region. The sale is a […]
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