business news
Stock futures slip after Nasdaq’s rally as investors digest corporate earnings
Traders on the floor of the NYSE, July 19, 2022. Source: NYSE Stock futures dipped on Wednesday evening as investors hoped to build on a strong start to the week amid a flurry of corporate earnings. Futures tied to the Dow Jones Industrial Average shed 45 points, or about 0.1%. S&P 500 futures ticked down […]
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Raimondo warns of ‘deep and immediate recession’ if U.S. were to be cut off from Taiwan chip manufacturing
Commerce Secretary Gina Raimondo warned on Wednesday that the country’s current dependence on foreign computer chip fabrication puts it at risk of a recession if it’s ever cut off. Her comments come as Congress nears key votes on a bill to fund U.S. semiconductor manufacturing, While many computer chips are designed in the U.S. by […]
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Tesla has dumped 75% of its bitcoin holdings a year after touting ‘long-term potential’
Tesla, led by Elon Musk, confirmed that it purchased about $ 1.5 billion in bitcoin in January and expects to start accepting it as a payment in the future. Artur Widak | NurPhoto | Getty Images Early last year, Tesla invested $1.5 billion in bitcoin, banking on what the electric car maker called the digital […]
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Chipotle union files complaint with labor board after chain shutters Maine restaurant seeking to organize
A Chipotle Mexican Grill sign is seen in the Park Slope neighborhood in the Brooklyn borough of New York City. Michael M. Santiago | Getty Images A union pushing to organize workers at Chipotle Mexican Grill has filed a complaint with the National Labor Relations Board after the burrito chain said it would permanently close […]
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Marriott opens new Ritz Carlton in Manhattan as NYC tourism roars back
The Ritz-Carlton in the NoMad neighborhood of New York City. Seema Mody | CNBC Marriott next week will open a swanky new Ritz Carlton hotel in Manhattan, marking a bet on the surge in luxury travel and the hopeful return of business travelers this fall. “It’s got 10,000 square feet of meeting space, a 7,000-square-foot […]
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Minecraft creator rejects NFTs, citing a lack of inclusivity
Minecraft is the best-selling game of all time, with lifetime sales of more than 238 million units. Igor Golovniov | Sopa Images | Lightrocket | Getty Images Mojang, the developer behind Minecraft, is not a fan of nonfungible tokens. The Microsoft-owned company said Wednesday that it won’t support NFTs in Minecraft because they’re “not inclusive […]
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United Airlines posts profit on travel surge but holds back on flight growth
An aircraft takes off from O’Hare International Airport on January 18, 2022 in Chicago, Illinois. Scott Olson | Getty Images United Airlines on Wednesday notched a key profit milestone in its pandemic recovery, but said it will scale back its growth plans through 2023. United reported its first quarterly profit — $329 million — since […]
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Tesla grows revenue 42%, but automotive margins decline
Tesla reported earnings after the bell, and the results sent the stock up slightly after hours. Earnings per share (EPS): $2.27 (adjusted) vs $1.81 expected, according to Refinitiv Revenue: $16.93 billion, vs. $17.1 billion expected, according to Refinitiv Automotive gross margin came in at 27.9%, down from 32.9% last quarter and 28.4% a year ago, […]
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Stocks making the biggest moves midday: Netflix, Las Vegas Sands, Bath & Body Works and more
The Netflix logo is seen on their office in Hollywood, California. Lucy Nicholson | Reuters Check out the companies making headlines in midday trading. Netflix — Shares of the streaming company popped 7.4% a day after Netflix posted a smaller-than-expected subscriber loss in the recent quarter. Netflix reported a beat on earnings but a miss […]
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Biden announces new climate change programs, but no emergency declaration
U.S. President Joe Biden delivers remarks on climate change and renewable energy at the site of the former Brayton Point Power Station in Somerset, Massachusetts, U.S. July 20, 2022. Jonathan Ernst | Reuters President Joe Biden announced new executive steps to combat climate change on Wednesday, but fell short of issuing a climate-emergency declaration as […]
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