World
Nike CEO John Donahoe is out, replaced by company veteran Elliott Hill
John Donahoe, CEO of Nike, attends the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, U.S., July 10, 2024. Brendan Mcdermid | Reuters Nike on Thursday announced that its CEO John Donahoe is stepping down and company veteran Elliott Hill is coming out of […]
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Largest port on U.S. East Coast, New York/New Jersey, begins prepping for what could be first union strike since 1977
Port of New York/New Jersey executives tell CNBC they have begun preparations for a potential complete work stoppage by the International Longshoreman’s Association, the largest union in North America. The ILA represents over 85,000 longshoremen and a strike would shut down five of the 10 busiest ports in North America, and a total of 36 […]
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Volatility looms as election season heats up. Fortify your portfolio against autumn market shocks
Stocks roared higher in a delayed relief rally on Thursday, following the Federal Reserve’s jumbo-sized interest rate cut Wednesday, but rocky times may be ahead – and investors will want to prepare for that volatility. Excitement over the central bank’s half-point rate cut lifted the S & P 500 over the 5,700 threshold for the […]
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Elon Musk’s X and Starlink face nearly $1 million in daily fines for alleged ban evasion in Brazil
Combinations showing Entrepreneur Elon Musk (L) and Brazil Supreme Court Justice Alexandre de Moraes (R) Reuters (L) | Getty Images (R) Elon Musk’s X faces steep daily fines in Brazil for allegedly evading a ban on the service there, according to a statement from the country’s supreme court on Thursday. The fines, imposed by Brazil’s […]
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The Fed has set out on a ‘recalibration’ of policy. Here’s what Powell’s new buzzword means
Federal Reserve Chair Jerome Powell has unveiled his latest buzzword to describe monetary policy, with a “recalibration” of policy at a pivotal moment for the central bank. At his news conference following Wednesday’s open market committee meeting, Powell used variations of the word no fewer than eight times as he sought to explain why the […]
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Tesla’s Chinese rival Nio cuts price for new Onvo-branded car
Chinese electric car company Nio launched its lower-cost brand Onvo on Wednesday, May 15, 2024, in Shanghai, China. CNBC | Evelyn Cheng HEFEI, China — There’s yet another Chinese electric car aiming to undercut Tesla, with a steeper discount. Onvo, the lower-priced brand launched by premium electric car company Nio, announced its first car, the […]
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‘Very serious escalation’: Lebanese ministers warn of a dangerous next 48 hours after pager and device attacks
Lebanon’s leadership warned that the risk of further violence and escalation is extremely high following two days of attacks involving exploding communications devices across the country. The next 48 hours, ministers told CNBC Thursday, will be particularly dangerous. On Tuesday and Wednesday, thousands of communications devices — including pagers and two-way radios — used by […]
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Bank of England presses pause on rate cuts, highlights ‘gradual approach’
Commuters cycles past the Bank of England (BOE), left, in the City of London, UK, on Monday, Sept. 16, 2024. The central bank’s Monetary Policy Committee’s interest rate decision is scheduled for release on Sept. 19. Bloomberg | Bloomberg | Getty Images LONDON — The Bank of England on Thursday said it would hold interest […]
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Biden’s student debt forgiveness plan to remain blocked, federal judge orders
US President Joe Biden looks on before speaking ahead of the 30th anniversary of the Violence Against Women Act on the South Lawn of the White House in Washington, DC, September 12, 2024. Andrew Caballero-Reynolds | AFP | Getty Images A federal judge has extended a temporary restraining order against the Biden administration’s latest student loan forgiveness […]
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Walkie-talkie firm probes link to 2nd wave of Lebanon blasts as Israel declares ‘new phase’ of war
The blasts that rocked Lebanon for a second day reached the doors of a walkie-talkie maker in Japan on Thursday, as Israel’s declaration of a “new phase” to the conflict raised fears of all-out war. At least 37 people, including two children, were killed and thousands more injured across Lebanon, the country’s health minister said early Thursday — a rising […]
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