Day: April 28, 2025
Wealthy consumers upped their spending last quarter, while the rest of America is cutting back
Key Points Lower-income earners are reining in their transactions to focus on essentials, while the wealthy continue to spend freely on perks including dining out and luxury travel, according to first-quarter results from U.S. credit card lenders. Synchrony, which provides store cards for retail brands including Lowe’s and T.J. Maxx, spending fell 4% in the […]
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Palo Alto Networks acquiring Protect AI to boost artificial intelligence tools
Palo Alto Networks signage displays on the screen at the Nasdaq Market in New York City, U.S., March 25, 2025. Jeenah Moon | Reuters Palo Alto Networks announced on Monday its intent to acquire Protect AI, a startup specializing in securing artificial intelligence and machine learning applications, for an undisclosed sum. The deal is set […]
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On air, ’60 Minutes’ reporter says ‘none of us is happy’ about changes that led top producer to quit
Scott Pelley attends the CBS Fall Schedule Celebration at Paramount Studios on May 02, 2024 in Los Angeles, California. Frazer Harrison | Wireimage | Getty Images “60 Minutes” correspondent Scott Pelley paid tribute Sunday to Bill Owens, the show’s executive producer who resigned last week, saying on the air that “none of us is happy” […]
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Trump’s first 100 days are the worst for the stock market since Nixon
U.S. President Donald Trump is displayed on a television screen as traders work on the floor of the New York Stock Exchange (NYSE) on April 7, 2025 in New York City. Spencer Platt | Getty Images President Donald Trump’s first 100 days in office are the worst for the stock market for the start of […]
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Large areas of Spain and Portugal hit by massive power blackout
Spain and Portugal were hit by a widespread power blackout on Monday that paralysed public transport, caused large traffic jams and delayed airline flights, and utility operators were scrambling to restore the grid. Authorities were unable to explain the cause of the outage at least an hour after it occurred, though a possible cyber attack […]
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PayPal kicks off fintech earnings as investors fear impact of Trump tariffs on consumer spending
FILE PHOTO: A smartphone with the PayPal logo is placed on a laptop in this illustration taken on July 14, 2021. Dado Ruvic | Reuters PayPal, Block and Affirm are all closely tied to the health of the consumer, which has investors on edge headed into their earnings reports. Markets broadly have been jittery to […]
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Cloud software vendors Atlassian, Snowflake and Workday are betting on security startup Veza
From left, Veza founders Rob Whitcher, Tarun Thakur and Maohua Lu. Veza Tech giants like Google, Amazon, Microsoft and Nvidia have captured headlines in recent years for their massive investments in artificial intelligence startups like OpenAI and Anthropic. But when it comes to corporate investing by tech companies, cloud software vendors are getting aggressive as […]
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IBM pledges $150 billion to boost U.S. tech growth, computer manufacturing
Arvind Krishna, chief executive officer of International Business Machines Corp. (IBM), during a Bloomberg Television interview at the World Governments Summit in Dubai, United Arab Emirates, on Tuesday, Feb. 11, 2025. Christopher Pike | Bloomberg | Getty Images International Business Machines Corporation on Monday announced it will invest $150 billion in the U.S. over the […]
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Treasury Secretary Bessent says it’s up to China to de-escalate trade tensions
Treasury Secretary Scott Bessent on Monday put the responsibility for reaching a trade agreement on China. “I believe that it’s up to China to de-escalate, because they sell five times more to us than we sell to them, and so these 120%, 145% tariffs are unsustainable,” Bessent said during an interview on CNBC’s “Squawk Box.” […]
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Stocks making the biggest moves premarket: Boeing, Domino’s Pizza, Eli Lilly, Progressive and more
Check out the companies making headlines before the bell. Boeing — Shares of the airplane manufacturer added nearly 2% on the back of a Bernstein upgrade to outperform from market perform. The firm said Boeing “should be on a much firmer path than in 2023” as it recovers from the 2024 Alaska Airlines controversy and […]
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