Month: July 2024
UK finance chief says public finances show $28 billion spending hole, cuts road and rail projects
Britain’s Finance Minister Rachel Reeves has pledged to make the “necessary”, “urgent” and “incredibly tough” choices to restore the country’s economic stability. Pool | Getty Images News | Getty Images Britain’s Finance Minister Rachel Reeves on Monday announced a raft of project cuts after detailing how the newly elected Labour government has inherited a projected […]
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Jim Cramer’s advice on Abbott Labs stock after a nearly $500 million baby formula verdict
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Monday’s key moments. Wall Street was lower after Friday’s rebound in a wild week that featured rotations in and out of tech. It’s a busy week ahead with a Fed meeting, 14 earnings […]
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Investors are punishing stocks that miss earnings more than normal this season
Companies with disappointing quarterly results are getting punished more than usual this earnings season. Second-quarter earnings misses have resulted in an average 3.8% decline for a stock from two days before the quarterly release through the two days after the report comes out, according to FactSet. That’s compared to the five-year average price decrease of […]
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McDonald’s executives admit diners think prices are too high, say they’re working to create value
A McDonald’s Big Mac meal. Lauren Decicca | Getty Images McDonald’s executives acknowledged Monday that diners consider the company’s prices too high as lower-income consumers balk after years of high inflation. During the company’s second-quarter earnings call Monday, executives said that they are taking a “forensic approach” to evaluating prices and trying to create value. […]
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U.S. airlines cut growth plans in a bid to stem profit-eating fare discounts
Airplanes from United and JetBlue and Delta populate the taxiway at Laguardia Airport in the Queens borough of New York City. Bruce Bennett | Getty Images U.S. airlines are reducing their capacity through the end of the year in a bid to cool an oversupplied domestic market that has led to lower fares and reduced […]
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Nothing will replace face-to-face meetings that involve trust, creativity: TravelPerk’s COO
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Street Signs Europe TravelPerk’s Chief Operating Officer Jean-Christophe Taunay-Bucalo discusses the uptick in business travel and the impact of AI on the sector. 03:04 31 minutes ago Source
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Apple will reportedly release artificial intelligence features in October, weeks after iOS 18 update
Apple Intelligence capabilities introduced during Apple’s WWDC2024 in Cupertino, Calif. on June 10th. 2024. Source: Apple Inc. Apple‘s new artificial intelligence features will roll out in October, missing the initial launch of iPhone and iPad software updates, according to a Bloomberg report released on Monday. The company split the Apple Intelligence features from the initial […]
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Family offices are giving top staff equity and profit shares in battle for talent
Thomas Barwick | Digitalvision | Getty Images A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high net worth investor and consumer. Sign up to receive future editions, straight to your inbox. Family offices are increasingly offering lucrative shares of equity and deal profits to staff […]
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We’re making a flurry of moves: trimming 2 stocks and buying 2 others that have lagged
We’re making four trades Monday morning. Shortly after the opening bell, we will be selling 100 shares of Danaher at roughly $274.13. Following the trade, Jim Cramer’s Charitable Trust will own 475 shares of Danaher, decreasing its weighting in the portfolio to 4% from 4.84%. In addition, we will be selling 20 shares of Salesforce at […]
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Temu and Shein’s soaring popularity has Wall Street eyeing China’s influence on tech earnings
In just 17 days after launch, Temu surpassed Instagram, WhatsApp, Snapchat and Shein on the Apple App Store in the U.S., according to Apptopia data shared with CNBC. Stefani Reynolds | Afp | Getty Images Temu and Shein have exploded in the U.S. by going on an online marketing blitz and offering consumers inexpensive goods […]
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