Finance
The Fed’s Mary Daly says rate hikes should continue until inflation is tamed
San Francisco Federal Reserve President Mary Daly said Wednesday she backs raising interest rates aggressively until inflation comes down to a reasonable level. Those moves likely would entail multiple 50 basis point hikes at coming meetings, then a possible rest to see how the central bank policy tightening is combining with other factors in addressing […]
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Stocks making the biggest moves midday: Salesforce, Delta, Albemarle and more
Pedestrians pass in front of the Salesforce Tower in New York. Victor J. Blue | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Salesforce — Shares of the enterprise-software maker jumped nearly 10% after the company’s stronger-than-expected quarterly earnings report. Salesforce also lifted its full-year earnings guidance, but reduced its […]
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SeatGeek terminates deal to go public with Billy Beane’s SPAC due to market volatility
General Manager Billy Beane of the Oakland Athletics. Michael Zagaris | Oakland Athletics | Getty Images Ticketing platform SeatGeek and black-check firm RedBall Acquisition Corp. decided to terminate their $1.35 billion take-public deal amid a roller-coaster market. The move was a result of current unfavorable market conditions, particularly impacting growth technology companies, according to SeatGeek […]
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Jamie Dimon says ‘brace yourself’ for an economic hurricane caused by the Fed and Ukraine war
Jamie Dimon, CEO of JP Morgan Chase, appears on CNBC’s Squawk Box at the 2020 World Economic Forum in Davos, Switzerland on Jan. 22nd, 2020. Adam Galica | CNBC JPMorgan Chase CEO Jamie Dimon says he is preparing the biggest U.S. bank for an economic hurricane on the horizon and advised investors to do the […]
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Stocks making the biggest moves premarket: Capri Holdings, Salesforce, Weibo and others
Check out the companies making headlines before the bell: Capri Holdings (CPRI) – The parent of luxury brands, like Michael Kors, Versace and Jimmy Choo, saw its stock surge 11% in the premarket after posting better-than-expected quarterly numbers before giving back nearly all those gains. Capri earned an adjusted $1.02 per share, 20 cents above […]
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Binance raises $500 million fund to invest in ‘Web3’ as crypto slides into bear market
Binance is the world’s biggest cryptocurrency exchange, handling $490 billion of spot trading volumes in March 2022. Akio Kon | Bloomberg | Getty Images Binance, the world’s largest cryptocurrency exchange, is launching its own venture capital fund. The company’s venture arm, Binance Labs, said Wednesday it has raised $500 million for its debut start-up fund, […]
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China faces a nearly $1 trillion funding gap. It will need more debt to fill it.
During the first four months of the year, investment in real estate development fell by 2.7% from a year ago. Pictured here is a project in Qingzhou, Shandong province, on May 15, 2022. CFOTO | Future Publishing | Getty Images BEIJING — The Chinese government faces a growing shortfall of cash, analysts say, as they […]
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Fed Governor Christopher Waller says he’s prepared to take rates past ‘neutral’ to fight inflation
Christopher Waller, U.S. President Donald Trump’s nominee for governor of the Federal Reserve, listens during a Senate Banking Committee confirmation hearing in Washington, D.C., on Thursday, Feb. 13, 2020. Andrew Harrer | Bloomberg | Getty Images Federal Reserve Governor Christopher Waller said Monday he sees interest rate increases continuing through the rest of the year […]
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The luna cryptocurrency has been resurrected after its $40 billion collapse. It’s already crashing
Cryptocurrency markets have seen a steep sell-off after the collapse of controversial blockchain project Terra. Dan Kitwood | Getty Images A new version of the collapsed luna cryptocurrency is already live on major exchanges — and it’s gotten off to a bad start. Last week, supporters of the Terra blockchain project voted to revive luna […]
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Stocks making the biggest moves midday: Ulta Beauty, Big Lots, Autodesk, Workday and more
Ulta Beauty store. Scott Mlyn | CNBC Check out the companies making headlines in midday trading Friday. Ulta Beauty — The beauty retailer surged 10% following better-than-expected quarterly earnings and revenue. Ulta Beauty also shared a better-than-expected outlook for the full year. American Eagle — The stock dropped 4.2% after the retailer posted weaker-than-expected quarterly […]
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