Month: August 2024
Brian Niccol’s fix for Starbucks’ China cafes could set the tone for where shares head next
After the surprise leadership change at Starbucks this week, Wall Street has focused on what’s next for its struggling China business amid a rough patch for the stock. Starbucks announced earlier this week that Chipotle CEO Brian Niccol would helm the coffee chain, replacing Laxman Narasimhan. Afterward, investors sent the shares soaring and the Street […]
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Cadillac reveals new ‘Opulent Velocity’ performance EV concept
Cadillac Opulent Velocity concept EV Cadillac DETROIT — General Motors on Friday revealed a new all-electric Cadillac concept car designed to preview how the automaker plans to keep its high-performance V-Series vehicles relevant for EVs. The vehicle is called “Opulent Velocity.” True to the name, Cadillac says it’s a balance of ultra-luxury and performance for […]
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Gaza ceasefire talks paused with resumption planned next week
TOPSHOT – A woman stands holding a child surrounded by the rubble of buildings destroyed during Israeli bombardment in Khan Younis on the southern Gaza Strip on June 23, 2024, amid the ongoing conflict between Israel and the Palestinian militant group Hamas. Eyad Baba | Afp | Getty Images Gaza ceasefire talks in Doha were […]
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Private jet flights are down 15% in two years as Covid-era demand wanes
A Gulfstream G-IV private jet flies past clouds at sunset on approach to Washington’s Reagan National Airport on June 12, 2024, in Arlington, Virginia. J. David Ake | 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 […]
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How Trump’s intimidation tactics have reshaped the Republican Party
Republican Presidential nominee and former President Donald J. Trump holds campaign rally at the Van Andel Arena in Grand Rapids, Michigan on July 20, 2024. Bill Pugliano | Getty Images News | Getty Images When U.S. congressman Tom Rice voted to impeach Donald Trump for inciting the mob that stormed the U.S. Capitol in January 2021, […]
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Gilead Sciences alleges dangerous drug-counterfeiting operation at two NYC pharmacies in lawsuit
Gilead HIV prescription bottles seized at Best Scripts pharmacy. Courtesy: Gilead Sciences Gilead Sciences says it uncovered a dangerous drug-counterfeiting operation in which its HIV medications were tampered with and improperly resold before reaching patients. The scheme, allegedly run out of two New York City pharmacies, identified Peter Khaim, a twice-convicted medical fraudster, as the […]
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British fintech Revolut valued at $45 billion in secondary share sale
Revolut cards are seen in this illustration photo taken in Krakow, Poland on March 29, 2024. Jakub Porzycki | Nurphoto | Getty Images British fintech startup Revolut on Friday said that it was valued at $45 billion in a secondary share sale with existing and new investors. “This valuation reflects the strong financial performance recorded […]
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Stocks making the biggest moves premarket: H&R Block, Applied Materials, Microchip, JD.com and more
Check out the companies making headlines before the bell. Estee Lauder — The beauty company slipped nearly 2% after Bank of America downgraded the stock, citing headwinds in its China market. Softening U.S. demand is also weighing upon shares, the firm added. Applied Materials — The semiconductor equipment company’s shares dipped 1.8% despite posting better-than-expected […]
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‘Late low ball’: Lawyer slams Deutsche Bank settlement offer in long-running Postbank suit
A Deutsche Bank branch in the financial district of Frankfurt, Germany, on May 6, 2022. Alex Kraus | Bloomberg | Getty Images A lawyer representing plaintiffs in a long-running case against Deutsche Bank on Friday slammed a proposed settlement from the German lender as a “late low ball” offer. The crux of the challenge against […]
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Mpox vaccine maker Bavarian Nordic seeks ‘critical’ EU approval for teens after WHO declares health emergency
Jackyenjoyphotography | Moment | Getty Images LONDON — Danish biotech company Bavarian Nordic said Friday that it had submitted data to the Europe Union’s drug regulator to extend the use of its mpox vaccine for teenagers. CEO Paul Chaplin told CNBC that the expanded approval for 12 to 17 year-olds would be crucial in tackling […]
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