Economy
U.S. Treasury diplomat nominee aims to curb China’s lending influence
Jay Shambaugh, associate professor of economics at the George Washington University, speaking at a macro policy discussion in the U.S. on Wednesday, April 17, 2013. The nominee for the U.S. Treasury’s top economic diplomacy job said on Tuesday he wants to limit China’s growing global lending influence by working with international financial institutions and development […]
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Stocks making the biggest moves midday: Gap, Peloton, Boeing, American Airlines, Twitter and more
A Gap store in New York, August 2, 2020. Scott Mlyn | CNBC Check out the companies making headlines in midday trading. Gap — Shares of the apparel retailer dropped more than 5% after Gap announced Monday that CEO Sonia Syngal is stepping down from her position. Wells Fargo downgraded the stock to equal weight […]
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OnePlus co-founder makes smartphone comeback with a quirky iPhone competitor
The Nothing Phone 1. Nothing The co-founder of Chinese smartphone brand OnePlus, Carl Pei, is back with a new handset — only this time it’s with a different company, literally called Nothing. Pei’s peculiarly named start-up officially pulled the wraps off its debut smartphone Tuesday, after months of dropping hints and teasers about the look […]
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5 things to know before the stock market opens Tuesday
People walk by the NYSE in New York City. Spencer Platt | Getty Images News | Getty Images Here are the most important news items that investors need to start their trading day: 1. Futures slide Stock futures fell Tuesday morning, setting up a second straight day of losses. Markets are coming off a winning […]
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The euro is near parity with the U.S. dollar: Here’s how travelers can take advantage of the exchange rate
A customer reaches down to pick up a bottle of water from a street vendor in Paris on June 17, 2022. Stefano Rellandini | Afp | Getty Images The value of the euro relative to the U.S. dollar has sunk near a two-decade low — and that’s good news for Americans traveling to Europe this […]
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Stocks making the biggest moves premarket: PepsiCo, Gap, Peloton and others
Check out the companies making headlines before the bell: PepsiCo (PEP) – The beverage and snack giant reported an adjusted quarterly profit of $1.86 per share, 12 cents above estimates, and revenue topped Wall Street forecasts. The company also raised its full-year forecast as consumer demand holds up even as prices rise. PepsiCo gained 1.2% […]
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U.S., Japan agree to address currency, economic impact of Ukraine war
Japanese Finance Minister Shunichi Suzuki shaking hands with US Treasury Secretary Janet Yellen at the latter’ office in Tokyo on July 12, 2022. U.S. Treasury Secretary Janet Yellen and Japanese Finance Minister Shunichi Suzuki agreed on Tuesday to further strengthen bilateral ties and work together to address rising food and energy prices exacerbated by Russia’s […]
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Stock futures are little changed as Wall Street looks ahead to the start of earnings season
Traders on the floor of the NYSE, June 27, 2022. Source: NYSE U.S. stock futures were little changed after hours Monday as Wall Street looks ahead to what many expect will be the start of a volatile second quarter earnings season this week. Dow Jones Industrial Average futures rose by 16 points, or 0.05%. S&P […]
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Klarna valuation plunges 85% to $6.7 billion as ‘buy now, pay later’ hype fades
Currently, most buy now, pay later services don’t impact a person’s credit score. That’s now set to change in the U.K. Jakub Porzycki | NurPhoto | Getty Images Klarna saw its valuation slashed by 85% in a new financing round announced Monday, reflecting grim investor sentiment surrounding high-growth tech stocks and “buy now, pay later” […]
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Boris Johnson is going, and strategists are betting on big changes to the UK economy
British Prime Minister Boris Johnson makes a statement at Downing Street in London, Britain, July 7, 2022. Henry Nicholls | Reuters LONDON — U.K. Prime Minister Boris Johnson’s eventual successor is likely to bring forth greater fiscal support and less-fractious relations with the European Union, according to economists. Johnson formally resigned as leader of the […]
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