Economy
Fed reportedly considering hiking interest rates by three-quarters of a point this week
The Marriner S. Eccles Federal Reserve building in Washington, DC, on January 25, 2022. Stefani Reynolds | AFP | Getty Images Markets are beginning to anticipate an even faster pace of interest rate hikes, and Federal Reserve officials apparently are contemplating the possibility as well. Central bank policymakers are entertaining the idea of a 75 […]
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American Airlines regional carriers hike pilot pay more than 50% as shortage persists
American Airlines Embraer ERJ-145 regional jet aircraft as seen on final approach landing at New York JFK international airport in NY, on February 13, 2020. Nicolas Economou | Nurphoto | Getty Images Two American Airlines-owned regional carriers will hike pilot pay by 50% through the end of August 2024, the latest sign airlines are willing […]
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Binance pauses bitcoin withdrawals due to a ‘stuck transaction’ as crypto sell-off deepens
The logo of cryptocurrency exchange Binance displayed on a smartphone with the word “cancelled” on a computer screen in the background. Budrul Chukrut | SOPA Images | LightRocket via Getty Images Binance said Monday that it is temporarily pausing bitcoin withdrawals “due to a stuck transaction causing a backlog.” At first, Binance founder and CEO […]
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5 things to know before the stock market opens Monday
Here are the most important news, trends and analysis that investors need to start their trading day: 1. Futures plunge, with S&P 500 poised to fall back into a bear market Traders work on the floor of the New York Stock Exchange (NYSE) on June 10, 2022 in New York City. Spencer Platt | Getty […]
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Europe’s fear gauge just hit its highest level since May 2020
Italian borrowing costs are surging at a time when consumers are turning more worried about the cost of living crisis. Stefano Guidi | Getty Images News | Getty Images A measure known as Europe’s fear gauge has hit its highest level since the coronavirus outbreak, in what could spell out further economic pain for Italy […]
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The California exodus continues as residents head south of the border
More than 360,000 people left California in 2021, in what some are calling “The California Exodus” — many leaving for states like Texas, Arizona and Washington. And a rising number of former Californians are migrating out of the country altogether and are instead heading south of the border. Many are seeking a more relaxed and […]
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Strong inflation, anxious consumers add up to more worries that recession has already arrived
Trays of beef are for sale in the meat section of a supermarket in McLean, Virginia, June 10, 2022. Saul Loeb | AFP | Getty Images The case that a recession is looming over the U.S. got stronger Friday, as blistering inflation and historic lows in consumer sentiment painted an increasingly dark economic picture. As […]
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Watch live: Biden speaks about the highest inflation since 1981
[The stream is slated to start at 1:45 p.m. ET. Please refresh the page if you do not see a player above at that time.] President Joe Biden is set to speak about the latest inflation report, which showed that prices in the U.S. rose at their fastest annual pace since the early 1980s. Government […]
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Brokerage industry looks for alternatives to payment for order flow amid SEC’s threatened crackdown
The brokerage industry is exploring alternatives to payment for order flow as SEC chair Gary Gensler takes aim at the practice. One idea is coming from Apex Clearing, CNBC has learned. The clearing firm handles trades for SoFi, Webull and other fintechs and has been quietly building a marketplace for matching customer orders. The “auction” […]
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Here’s what people expect to spend more on as inflation continues to surge
Regular unleaded gasoline was $4.69 a gallon (cash) at a Houston Exxon Mobil station on June 9, 2022. Gas prices are breaching record highs as demand increases and supply fails to keep up. Brandon Bell | Getty Images News | Getty Images Americans are still grappling with the worst inflation in roughly 40 years, and […]
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