Economy
Wealthy shoppers are splashing the cash on jewelry — so long as it’s the right brand
A shopper passes a jewelry display in the window of a Van Cleef & Arpels luxury goods store, operated by Cie. Richemont SA, on via Montenapoleone in Milan, Italy. Bloomberg | Getty Images With a diamond encrusted ring here and a rare gemstone necklace there, the world’s wealthiest are continuing to adorn themselves with the […]
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Federal Reserve will reduce staff by 10% in coming years, Powell memo says
U.S. Federal Reserve Chair Jerome Powell departs after holding a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, D.C., U.S., May 7, 2025. Kevin Lamarque | Reuters The Federal Reserve will look to reduce its headcount by 10% over the next couple of years, including […]
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Stocks making the biggest moves midday: Applied Materials, Novo Nordisk, Cava, Vistra and more
Check out the companies making headlines in midday trading. Applied Materials — Shares of the semiconductor manufacturer dropped 6% after Applied Materials posted disappointing fiscal second-quarter revenue. The company’s revenue of $7.10 billion was below the LSEG consensus of $7.13 billion. Semiconductor revenue of $5.26 billion also disappointed the $5.31 billion analysts were looking for. […]
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Stocks making the biggest moves premarket: Charter Communications, Doximity, Novo Nordisk and more
Check out the companies making headlines before the bell. Charter Communications — The cable stock rose 7% after Charter agreed to merge with rival Cox Communications . The combined company will change its name to Cox Communications within a year. Constellation Brands — Shares popped 3.4% after Berkshire Hathaway disclosed doubled its stake in the […]
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Walmart’s former U.S. CEO Bill Simon thinks retailer can easily absorb tariff costs, criticizes its ‘doom and gloom’ commentary
Fast Money Walmart’s former U.S. CEO Bill Simon thinks retailer can easily absorb tariff costs, criticizes its ‘doom and gloom’ commentary Published Thu, May 15 20257:47 PM EDTUpdated 37 Min Ago Stephanie Landsman@stephlandsman WATCH LIVE Source
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China keeps hold on rare earth metals after lifting some U.S. export curbs
U.S. Secretary of the Treasury Scott Bessent shakes hands with Chinese Vice Premier He Lifeng during the bilateral meeting between the U.S. and China, in Geneva, Switzerland, on May 11, 2025. Keystone/eda/martial Trezzini | Via Reuters China has temporarily paused export restrictions targeting 28 American companies on the heels of the trade truce Beijing reached […]
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Stocks making the biggest moves midday: Coinbase, UnitedHealth, Dick’s Sporting Goods, Boot Barn and more
Check out the companies making headlines in midday trading. Walmart — Shares of the big-box retailer dropped 1% after Walmart fell slightly short of first-quarter sales expectations and management warned that consumers could see higher prices caused by tariffs. Walmart reported revenue of $165.61 billion, while the consensus forecast was $165.84 billion, per LSEG. The retailer earned 61 […]
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Trump says he doesn’t want Apple building products in India: ‘I had a little problem with Tim Cook’
Donald Trump speaks alongside Apple CEO Tim Cook (L) during the first meeting of the American Workforce Policy Advisory Board in the State Dining Room of the White House in Washington, DC, March 6, 2019. Saul Loeb | AFP | Getty Images U.S. President Donald Trump on Thursday said he told Apple CEO Tim Cook […]
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Fed’s Powell cautions about higher long-term rates as ‘supply shocks’ provide policy challenges
Key Points Fed Chair Jerome Powell said Thursday that longer-term interest rates are likely to be higher as the economy changes and policy is in flux. “We may be entering a period of more frequent, and potentially more persistent, supply shocks — a difficult challenge for the economy and for central banks,” the central bank […]
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Stocks making the biggest moves premarket: Walmart, Dick’s Sporting Goods, UnitedHealth, Alibaba and more
Check out the companies making headlines before the bell. Walmart – The discount retailer reported better-than-expected earnings , but shares were slightly lower in the premarket. Walmart posted an adjusted profit of 61 cents per share, beating an LSEG estimate of 58 per share. Revenue of $165.61 billion was about in line with the consensus […]
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