Economy
Lamborghini customers are now waiting more than 12 months for a car, CEO says
The wait time for a new Lamborghini SUV or super-car is now over 12 months, as demand from wealthy car lovers shows little sign of slowing, the automaker’s chief executive told CNBC on Wednesday. Despite volatile stock markets and growing economic uncertainty, demand for Lamborghini’s is “as high as ever,” said Stephan Winkelmann, Lamborghini’s CEO. […]
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Europe to see a sharp recession if Russia’s Putin shuts off the gas taps
The Nord Stream 2 offshore pipeline, the $11 billion project designed to double the flow of gas between Russia and Germany, is now unused and abandoned. Germany halted certification of the pipeline altogether after Russia officially recognized two pro-Russian regions in eastern Ukraine, setting a pretext for the invasion that would ensue. Axel Schmidt | […]
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Leaked documents show notorious ransomware group has an HR department, performance reviews and an ’employee of the month’
Conti — which uses malware to block access to computer data until a “ransom” is paid — operates much like a regular tech company, say cybersecurity specialists who analyzed the group’s leaked documents. eclipse_images A Russian group identified by the FBI as one of the most prolific ransomware groups of 2021 may now understand how […]
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Texas keeping most truck inspections despite border gridlock
Truckers returning from the United States wait near their trailers while stranded at a protest, by Mexican truck drivers blocking the Zaragoza-Ysleta International Bridge connecting the city of Ciudad Juarez to El Paso, Texas, against truck inspections imposed by Texas Governor Greg Abbott, in Ciudad Juarez, Mexico April 11, 2022. Jose Luis Gonzalez | Reuters […]
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Fed’s Waller sees likelihood of multiple half-point interest rate hikes ahead
Getting inflation under control will require raising interest rates at a faster pace than normal even though the pace of price increases probably has peaked, Federal Reserve Governor Christopher Waller said Wednesday. That means the central bank likely will hike short-term rates by half a percentage point, or 50 basis points, at its meeting in […]
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Jamie Dimon sees ‘storm clouds’ ahead for U.S. economy later this year
Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., listens during a Business Roundtable CEO Innovation Summit discussion in Washington, D.C., Dec. 6, 2018. Andrew Harrer | Bloomberg | Getty Images The risk that the Federal Reserve accidentally tips the U.S. economy into recession as it combats inflation is rising, according to […]
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Chinese carriers are shipping more empty containers than full ones out of U.S. West Coast ports
Two Chinese carriers are shipping more empty export containers than loaded exports out of the two biggest ports in the United States, according to CNBC analysis of exclusive trade data. CNBC analyzed the container data for 2020 and 2021 from the Port of Los Angeles, Port of Long Beach, U.S. customs and IHS Markit PIERS […]
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Stocks making the biggest moves midday: JPMorgan, Delta Air Lines, PayPal
The JP Morgan Chase & Co. headquarters, The JP Morgan Chase Tower in Park Avenue, Midtown, Manhattan, New York. Tim Clayton – Corbis | Corbis Sport | Getty Images Check out the companies making headlines in midday trading. JPMorgan Chase – Shares fell 3.5% as JPMorgan Chase reported a $524 million hit from market dislocations […]
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Biden’s approval falls to new low amid economic pessimism, inflation woes, CNBC survey finds
US President Joe Biden delivers a speech at the Royal Castle in Warsaw, Poland on March 26, 2022. Brendan Smialowski | AFP | Getty Images Americans harbor some of the most downbeat views on the economy since the recovery from the financial crisis of 2007-2008, and some of their attitudes are in line with those […]
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Producer prices rose 11.2% from a year ago in March, the biggest gain on record
The prices that goods and services producers receive rose in March at the fastest pace since records have been kept, the Bureau of Labor Statistics reported Wednesday. The producer price index, which measures the prices paid by wholesalers, increased 11.2% from a year ago, the most in a data series going back to November 2010. […]
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