Economy
Amazon shutters 4 Fresh stores in Southern California as grocery strategy keeps shifting
An employee arranges a salad dressing display at an Amazon Fresh grocery store on December 12, 2024 in Federal Way, Washington. David Ryder | Getty Images Amazon is closing four more Fresh supermarkets in Southern California as the e-commerce giant continues to focus its grocery strategy around Whole Foods and delivery. The closures will take […]
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Stocks making the biggest moves midday: Wynn Resorts, Red Cat, SanDisk, Palantir & more
Check out the companies making the biggest moves midday: Peabody Energy — The coal company jumped 9%. Peabody began arbitration proceedings with Anglo American over the canceled purchase of steelmaking coat assets belonging to the Anglo. SanDisk — The maker of solid state drives jumped 10%, adding to its massive gains. Over the past six […]
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Chicago Fed President Goolsbee ‘a little wary’ about cutting interest rates too quickly
Key Points Chicago Federal Reserve President Austan Goolsbee said Friday he’s leery of cutting interest rates too quickly as threats increase both inflation and employment. “I’m a little wary about front-loading too many rate cuts and just counting on the inflation going away,” he said. Source
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The wealth of the top 1% reaches a record $52 trillion
A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. The top 10% of Americans added $5 trillion to their wealth in the second quarter as the stock market rally continued to benefit […]
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Stocks making the biggest moves premarket: GameStop, USA Rare Earth, Applied Materials, Zillow and more
Check out the companies making headlines in premarket trading. USA Rare Earth — The rare earth miner jumped 8.8% after CEO Barbara Humpton told CNBC that the company is in “close communication” with the White House. GameStop — The meme stock fell 2.7% after the company said in a filing it’s selling a combination assets […]
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Singapore’s F1 race boosts tourism to the island — and other parts of Asia-Pacific
From $62,000 hotel suites to race packages with six-figure price tags, the Singapore Grand Prix is a windfall for businesses near the Marina Bay track. But the money isn’t staying in Singapore. Data shows travelers are also spending across Asia before and after the three-day Formula One race, which begins Friday. Flight bookings analyzed by […]
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Stocks making the biggest moves midday: Starbucks, FICO, Acadia Healthcare & more
Check out the companies making the biggest moves midday: Acadia Healthcare — The healthcare stock jumped about 7% after investors Khrom Capital filed to push the company to explore strategic alternatives. Acadia shares are down 33% year to date. Sarepta Therapeutics — The biotech company rallied 6%. While a catalyst for the move was not […]
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Russia’s economy is creaking — and the Kremlin wants Russians to pay more for the war
Russian President Vladimir Putin during a meeting on development of ‘new regions’, annexed from Ukraine, at the Kremlin, June 30, 2025, in Moscow, Russia. Contributor | Getty Images Russia is set to hike taxes on businesses and consumers as the government looks for ways to support military spending while its war-focused economy creaks at the […]
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Stocks making the biggest moves premarket: Occidental Petroleum, Lithium Americas, Fair Isaac & more
Check out the companies making the biggest moves premarket: Occidental Petroleum , Berkshire Hathaway — Occidental gained around 1% after Berkshire Hathaway announced it was buying the oil company’s petrochemical division, OxyChem, for nearly $10 billion in cash . Class B shares of Berkshire Hathaway slipped about 0.2%. Fair Isaac — The stock rallied 19% […]
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Treasury Secretary Bessent says U.S. GDP could take a hit from the government shutdown
Treasury Secretary Scott Bessent told CNBC’s on Thursday that U.S. economic growth could be hurt by the government shutdown. “This isn’t the way to have a discussion, shutting down the government and lowering the GDP,” Bessent said during a “Squawk Box” interview. “We could see a hit to the GDP, a hit to growth and […]
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