Business
2-time Oscar winner Tom Hanks says he’s made 4 ‘pretty good’ movies in his 40-year career
Tom Hanks may just be the most modest man in Hollywood. Despite building a career that spans more than 80 films and six Oscar nominations, the 66-year-old actor commented in a recent interview that only a handful of his movies are “pretty good.” Speaking with People Magazine while promoting his debut novel — a fictional […]
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Ford CEO Farley warns of recession, as inflation and supply disruptions weigh on production
The economy faces a heightened risk of a recession, Ford (F) CEO Jim Farley told CNBC on Tuesday, a week after the automaker warned investors of $1 billion in unexpected supplier costs and parts shortages in the third quarter. “The risk has gone up for a moderate recession certainly from all the indicators we’ve seen,” […]
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Hurricane Ian roars ashore in southwest Florida, bringing destructive floods and wind
Hurricane Ian approaches west coast of Florida on Sept. 28th, 2022. NOAA Hurricane Ian is making landfall over the west coast of Florida, according to Gov. Ron DeSantis on Wednesday afternoon. The storm greatly intensified as it neared land, reaching winds of 155 mph and nearing the most dangerous Category 5 classification Wednesday morning. Hurricane […]
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Cathie Wood’s Ark is buying stock in space SPAC Rocket Lab
A look at the company’s production floor shows a series of Electron boosters, with the typical black carbon fiber rockets in the foreground and a metallic-looking reusable booster in the center. Rocket Lab Cathie Wood’s Ark Invest is dipping back into a space SPAC, with two of the firm’s funds buying up stock in Rocket […]
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IRS erred on child tax credit payments for millions of eligible families – but aid was 98% accurate overall, report finds
The IRS skipped about $3.7 billion in advance child tax credit payments for 4.1 million eligible households, but sent more than $1.1 billion to 1.5 million filers who didn’t qualify in 2021, according to an audit released Tuesday by the Treasury Inspector General for Tax Administration. However, the agency accurately issued 98% of the aid, […]
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Lionsgate leaning toward spinning off its studio business instead of Starz
Michael Burns Michael Newberg | CNBC Lionsgate is leaning toward spinning off its studio division rather than its Starz cable and streaming unit, according to people familiar with the matter. This would be a change in strategy for the media and entertainment company, which said in May it expected to finalize a spin or sale […]
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How Netflix lost its edge over the competition
Over the past 25 years, Netflix has changed the film and television landscape. The company has amassed nearly 221 million subscribers across 190 countries, billions of hours watched for popular series like “Stranger Things,” and along the way has racked up 226 awards. Since going public in 2002, the company and its subscription-based business model […]
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LeBron James is a pickleball fan. And now he’s buying a team
LeBron James, the king of basketball courts, is one of the newest owners of a professional pickleball team. Major League Pickleball announced Wednesday that James and his business partner, Maverick Carter, will join its ownership ranks, along with NBA champions Draymond Green and Kevin Love and others. In recent months, the sport’s popularity has attracted […]
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5 things to know before the stock market opens Wednesday
Traders on the floor of the NYSE, Sept. 27, 2022. Source: NYSE Here are the most important news items that investors need to start their trading day: 1. Looking for a bottom For a while it looked hopeful U.S. stock markets had fallen as far as they could this year. Since June, stocks had been […]
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Mortgage refinancing drops to a 22-year low as interest rates surge even higher
Mortgage rates drove even higher last week after the Federal Reserve signaled it would continue its aggressive action to cool inflation. That, and rising uncertainty in the overall housing market, caused mortgage application volume to drop 3.7% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. After a […]
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