business news
Crypto broker Genesis slashes 20% of workforce and announces CEO exit after loans soured
Michael Moro, chief executive officer of Genesis, pauses as he speaks during the Bitcoin Conference 2022 in Miami Beach, Florida, April 6, 2022. Marco Bello | Reuters Digital asset brokerage Genesis said on Wednesday that CEO Michael Moro is stepping down and the company is slashing 20% of its workforce, the latest casualties as the […]
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Pharmacies must pay $650.6 million to Ohio counties in opioid case
A customer views merchandise for sale at a Walgreens store in the Hollywood neighborhood of Los Angeles. Christopher Lee | Bloomberg | Getty Images Pharmacy operators CVS, Walmart and Walgreens must pay a combined $650.6 million to two Ohio counties to address the damage done by the opioid epidemic, a federal judge ruled on Wednesday. The order […]
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Monkeypox cases jumped 20% in the last week to 35,000 across 92 countries, WHO says
Monkeypox continues to spread across the globe with cases jumping by 20% over the last week, according to the World Health Organization. Infections increased by nearly 7,500 to more than 35,000 cases total across 92 countries, but nearly all reported cases are in Europe and the Americas, according to WHO data. Twelve deaths have been […]
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Apple reportedly in talks to make Apple Watches and MacBooks in Vietnam
Apple CEO Tim Cook poses in front of a new MacBook Airs running M2 chips display during Apple’s annual Worldwide Developers Conference in San Jose, California, June 6, 2022. Peter Dasilva | Reuters Apple is in talks to produce Apple Watches, MacBooks and HomePods in Vietnam for the first time, Nikkei Asia said Wednesday. It […]
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We’re making two sales due to an overbought market, meme stock froth
We’re making a couple of small trims Wednesday morning for two reasons. Source
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Fiber optic technology powers the internet, and it’s a big business
Fiber-based networks make up the majority of the internet’s backbone. Fiber-optic subsea cables spanning thousands of miles connect continents together, exchanging data at nearly the speed of light. Meanwhile, the massive data centers that host all of our cloud-based applications also rely on fiber connections. Increasingly, these fiber connections are making their way directly into […]
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Best Buy to sell over-the-counter hearing devices this fall following change in FDA regulation
Black Friday shoppers leave a Best Buy store in Washington, DC, on November 26, 20221. Nicholas Kamm | AFP | Getty Images Best Buy said Wednesday that it will offer an expanded collection of hearing products and services this fall after federal regulators said they would begin allowing sales of over-the-counter hearing devices. By fall, […]
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Stocks making the biggest moves premarket: Lowe’s, Target, TJX and more
Check out the companies making headlines before the bell: Lowe’s (LOW) – Lowe’s rose 1% in the premarket after it reported quarterly earnings of $4.67 per share, 9 cents above estimates. The home improvement retailer saw both revenue and comparable store sales come in below analyst forecasts but predicted full-year earnings would come in at […]
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Manchester United shares briefly pop 17% in premarket after Elon Musk jokes about buying the club
Shares of the English soccer club Manchester United Plc briefly rose by as much as 17% in premarket trading on Wednesday, after Elon Musk jokingly tweeted “Also, I’m buying Manchester United ur welcome.” Photo by Catherine Ivill/Getty Images Shares of the English soccer club Manchester United briefly rose by as much as 17% in premarket […]
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Tencent posts first ever revenue decline as tough gaming regulation, Covid lockdowns bite
Tencent has faced a number of headwinds in 2022 including a Covid-induced slowdown in the Chinese economy and a tougher market for gaming. Bobby Yip | Reuters Tencent posted its first ever quarterly year-on-year revenue decline as stricter regulations around gaming in China and a resurgence of Covid-19 in the world’s second-largest economy hit the […]
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