business news
Clothing subscriptions like Stitch Fix were once hot – but now might be the victims of ‘box fatigue’
A selection of men’s clothes packaged by Trunk Club, which was shuttered earlier this year after Nordstrom bought the personal styling service in 2014. Source: Trunk Club After earning a master’s degree a decade ago, David Hill wanted to amp up his personal style and signed up for the Trunk Club, which promised to mail […]
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German energy giant RWE to burn extra coal as Russian gas supplies dwindle
An excavator photographed at a lignite mine operated by RWE on April 8, 2022. RWE says it wants to be carbon neutral by 2040. Alex Kraus | Bloomberg | Getty Images The chief financial officer of German energy firm RWE told CNBC Thursday that it will burn more coal in the short term — but […]
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Zelenskyy slams Ukrainian officials for revealing tactics; details of Crimea airbase blasts emerge
Eleven rockets hit Ukraine’s Kramatorsk at 2 a.m., mayor says Eleven Russian rockets struck the eastern Ukrainian city of Kramatorsk, its mayor Oleksandr Honcharenko reported via his Facebook page. “Private homes were destroyed. There is no information about victims. Occupiers destroy everything in their path – a terrorist tactic,” he wrote in a translation provided […]
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Here’s why Indians have the highest confidence to travel in Asia-Pacific
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email In a new survey of 11,000 people in Asia-Pacific by Booking.com, Indian respondents far exceeded regional averages in terms of their likelihood to travel and their willingness to accept travel disruptions and delays, CNBC’s Monica Pitrelli reports. Source
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Huawei’s second quarter revenue rises slightly from a year ago
Chinese telecommunications giant Huawei released figures Friday that showed its first quarterly increase in revenue since 2020. Pictured here on July 8, 2022, is a Huawei flagship store in Shenzhen, Guangdong province of China. Jade Gao | Afp | Getty Images BEIJING — Chinese telecommunications giant Huawei released figures Friday that showed its first quarterly […]
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Fed expected to stick with hawkish rate hikes until data show further slowing in inflation
The Federal Reserve is unlikely to pivot from its hawkish interest rate hikes despite positive signs this week that inflation in the U.S. could be easing, according to market strategists. On Thursday, the producer price index surprisingly fell 0.5% in July from the prior month, compared with an estimate of a 0.2% gain, according to […]
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This Chinese province set a 9% GDP target — but then it locked down
Sanya, on the southern coast of Hainan, was the top destination for couples flying from three of China’s largest cities last week for China’s version of Valentine’s Day, according to booking site Trip.com. Lucas Schifres | Getty Images News | Getty Images BEIJING — China’s tourist-heavy province of Hainan is falling further behind lofty growth […]
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South Korea’s president pardons Samsung leader Jay Y. Lee
Samsung Electronics Vice Chairman Lee Jae-yong speaks during U.S. President Joe Biden’s visit on May 20, 2022 in Pyeongtaek, South Korea. Kim Min-Hee | Pool | Getty Images News | Getty Images South Korea’s President Yoon Suk-yeol pardoned Samsung Electronics Vice Chairman Jay Y. Lee on Friday, with South Korea’s Justice Ministry saying the business […]
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Here’s where China’s real estate troubles could spill over
China’s real estate industry accounts for more than a quarter of national GDP, according to Moody’s. Pictured here is a residential complex under construction on Dec. 15, 2021, in Guizhou province. Costfoto | Future Publishing | Getty Images BEIJING — China’s real estate troubles could spill into other major sectors if the problems persist — […]
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Cramer’s lightning round: Charles Schwab is terrific
Amyris Inc: “There’s another company called IFF … that does a better job.” TechnipFMC PLC: “I like that company very, very much. … Maybe wait for a couple day pullback.” Canopy Growth Corp: “If Canopy Growth is good, then that means that you have one more reason to buy Constellation Brands. … I would buy […]
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