Breaking News: Economy
Fed officials see interest rate cuts ahead, but only ‘gradually,’ meeting minutes show
Federal Reserve officials expressed confidence that inflation is easing and the labor market is strong, allowing for further interest rate cuts albeit at a gradual pace, according to minutes from the November meeting released Tuesday. The meeting summary contained multiple statements indicating that officials are comfortable with the pace of inflation, even though by most […]
Read More
Databricks closes in on multibillion funding round at $55 billion valuation to help employees cash out
Ali Ghodsi, co-founder and chief executive officer of Databricks Inc., speaks during a Bloomberg Technology television interview in San Francisco on Oct. 22, 2019. David Paul Morris | Bloomberg | Getty Images One of the world’s most valuable private tech companies is raising billions more in cash and is in no rush to go public, […]
Read More
Virgin Atlantic CEO says UK budget is ‘tax on growth’ with air duties set to rise
Shai Weiss, chief executive officer of Virgin Atlantic Airways Ltd., on day two of the Farnborough International Airshow in Farnborough, UK, on Tuesday, July 23, 2024. Bloomberg | Bloomberg | Getty Images LONDON – Virgin Atlantic CEO Shai Weiss on Monday said the U.K. Labour government’s landmark October budget presented a “tax on growth” due […]
Read More
Can Saudi Arabia keep pace with its ambitious mega-project spending spree?
Digital render of NEOM’s The Line project in Saudi Arabia The Line, NEOM In Saudi Arabia’s northwestern desert, a sprawling construction site replete with cranes and pile drivers sits encircled by a recently-built road. A pair of tracks cuts through the site like deep gashes through the sand, comprising the spine of what planners say […]
Read More
Can Starbucks fix long lines at its airport cafes?
Customers wait in a long line at a Starbucks cafe in a terminal at Miami International Airport, in Miami, Dec. 12, 2022. Jeff Greenberg | Universal Images Group | Getty Images Air travelers face a host of headaches on their journeys: slow security lines, long waits for plush lounges, the threat of delays or cancellations […]
Read More
Donald Trump chooses hedge fund executive Scott Bessent for Treasury secretary
Scott Bessent, founder and chief executive officer of Key Square Group LP, during an interview in Washington, DC, US, on Friday, June 7, 2024. Stefani Reynolds | Bloomberg | Getty Images President-elect Donald Trump signaled Friday his intention to nominate hedge fund executive Scott Bessent as his Treasury secretary, in a move that puts a […]
Read More
Stocks making the biggest moves midday: Reddit, Super Micro Computer, Intuit and more
Check out the companies making headlines in midday trading. Elastic – Shares surged about 15% after the software company topped Wall Street’s expectations for its fiscal second-quarter results. Elastic posted adjusted earnings of 59 cents per share on revenue of $365 million. Meanwhile, analysts surveyed by LSEG expected it to earn 38 cents per share […]
Read More
Trump might name Kevin Warsh as Treasury chief then Fed chair later, report says
Kevin Warsh Jin Lee | Bloomberg | Getty Images President-elect Donald Trump is considering naming Kevin Warsh as Treasury secretary then ultimately sending him off to serve as Federal Reserve chair, according to a Wall Street Journal report. A former Fed governor himself, Warsh would move over to the central bank after current Chair Jerome […]
Read More
Stocks making the biggest moves midday: Netflix, Alphabet, Nvidia, BJ’s Wholesale Club and more
Check out the companies making headlines in midday trading. Nvidia — Shares of the chipmaker dipped about 1% in midday trading, after gyrating earlier in the session. Nvidia beat on top and bottom lines for the third quarter, posting adjusted earnings of 81 cents per share on revenue of $35.08 billion. Analysts polled by LSEG […]
Read More
Stocks making the biggest moves premarket: Snowflake, Nvidia, BJ’s Wholesale and more
Check out the companies making headlines before the bell. Snowflake – Shares surged more than 21% following the company’s better-than-expected third-quarter results and strong guidance. Snowflake posted adjusted earnings of 20 cents per share on revenue of $942 million. Analysts surveyed by LSEG were looking for 15 cents in earnings per share on revenue of […]
Read More