Month: September 2024
SEC charges Merrill Lynch, Harvest Volatility Management for ignoring client investment limits
Key Points The Securities and Exchange Commission charged Harvest Volatility Management and Merrill Lynch on Wednesday for exceeding clients’ predesignated investment limits over a two-year period. The two companies settled separately and will pay a combined $9.3 million to resolve the claims. The SEC found Harvest exposed investors to greater financial risks and Merrill connected […]
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New Starbucks CEO Brian Niccol commits to working with union as talks move forward
A Starbucks worker wears a t-shirt and button promoting unionization on April 7, 2022, in Chicago. John J. Kim | Chicago Tribune | Tribune News Service | Getty Images Starbucks CEO Brian Niccol said the coffee chain is committed to bargaining in good faith with the union that represents many of its baristas, as the […]
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Trump Media stock rises as DJT looks to claw back from post-lockup sell-off
Anna Barclay | Getty Images Trump Media stock rose for a second day Wednesday, as the company majority owned by Donald Trump looked to claw back losses from a punishing sell-off that picked up steam after insiders’ lockups expired. DJT stock was up as much as 7% shortly after the opening bell, with shares trading […]
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Secret Service failures before Trump rally shooting were ‘preventable,’ Senate panel finds
Multiple Secret Service failures ahead of the July rally for former President Donald Trump where a gunman opened fire were “foreseeable, preventable, and directly related to the events resulting in the assassination attempt that day,” according to a bipartisan Senate investigation released Wednesday. Similar to the agency’s own internal investigation and an ongoing bipartisan House probe, the interim report from the […]
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Surging AI demand could cause the world’s next chip shortage, report says
Georgijevic | E+ | Getty Images A surge in demand for artificial intelligence-focused semiconductors and AI-enabled smartphones and laptops could lead to the next global chip shortage, according to a report released Wednesday by consultancy Bain & Company. The last major semiconductor shortage happened during the Covid-19 pandemic amid supply chain disruption and a rise […]
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Southwest Airlines to cut service and staffing in Atlanta to slash costs
A Southwest Airlines plane takes off from Hollywood Burbank Airport on July 25, 2024 in Burbank, California. Mario Tama | Getty Images Southwest Airlines is planning to reduce service to and from Atlanta next year, cutting more than 300 pilot and flight attendant positions, according to a company memo seen by CNBC. The changes come […]
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Mortgage refinance boom takes hold, as weekly demand surges 20%
A steady decline in mortgage rates to two-year lows has current homeowners rushing to take advantage of potential savings. Applications to refinance a home loan surged 20% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Demand was a stunning 175% higher than the same week one year […]
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Stocks making the biggest moves premarket: KB Home, Hewlett Packard Enterprises, General Motors and more
Check out the companies making headlines before the bell. Progress Software – The tech stock advanced nearly 7% after better-than-expected fiscal third-quarter results. Progress posted adjusted earnings of $1.26 per share on revenue of $178.7 million. Analysts polled by FactSet were expecting $1.14 per share on revenue of $176.2 million. KB Home – Shares plunged […]
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Google files EU antitrust complaint accusing Microsoft of stifling cloud competition
Jakub Porzycki | Nurphoto | Getty Images Google filed an antitrust complaint with the European Commission Wednesday accusing Microsoft of using unfair licensing contracts to stifle competition in the multibillion-dollar cloud computing industry. At the heart of Google’s complaint is the allegation that Microsoft uses unfair licensing terms to “lock in” clients and exert control […]
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How birria took over restaurant menus across the country
Birria burrito surrounded by birria tacos, birria munchwrap, birria loaded fries and birria consommé at Little Miner Taco in North Bethesda, Maryland. Laura Chase de Formigny | The Washington Post | Getty Images Birria, which was once known as a regional Mexican food, has taken on a life of its own in the U.S., becoming […]
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