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Business
Striking unions impacting the economy at a level not seen in decades
The auto workers' strike is the latest in a series of labor-management conflicts that economists say could start having significant growth impacts if they persist.So far, the United Auto Workers stoppage has impacted just a small portion of…
PPI inflation report August 2023:
A shopper peruses the meats section of a grocery store on September 12, 2023 in Los Angeles, California.┬аMario Tama | Getty ImagesInflation at the wholesale level rose more than expected in August, countering recent data showing that price…
Shipping giant Maersk unveils first vessel operating on green methanol
A.P. Moller-Maersk, is one of the world's biggest container shippers with a market share of around 17%, and is widely seen as a barometer of global trade.Andia | UIG via Getty ImagesCopenhagen, DENMARK тАФ Shipping giant Maersk on Thursday…
CPI report August 2023: Inflation rose 0.3%
Inflation posted its biggest monthly increase this year in August as consumers faced higher prices on energy and a variety of other items.The consumer price index, which measures costs across a broad variety of goods and services, rose a…
Oracle (ORCL) Q1 earnings report 2024
Larry Ellison, Oracle's chairman and technology chief, speaks at the Oracle OpenWorld conference in San Francisco on September 16, 2019.Justin Sullivan | Getty ImagesOracle shares moved 9% lower in extended trading on Monday after the…
Credit crunch worries at 10-year plus high, New York Fed survey says
Choochart Choochaikupt | Istock | Getty ImagesAmerican consumers are worried about access to credit amid persistently higher interest rates and tighter standards at banks, according to a New York Federal Reserve survey released…
Taylor Swift is single handedly giving a boost to hotel industry revenue
Taylor Swift performs during her Eras Tour in Cincinnati, Ohio on June 30, 023.Taylor Hill/tas23 | Getty Images Entertainment | Getty ImagesTaylor Swift is providing a gold rush for the hotel industry.The "Cruel Summer" singer's…
Italy’s tax on bank profit continues to prove controversial
European bank shares dropped significantly in August after a surprise announcement from the Italian government for a new tax.Stefano Montesi - Corbis | Corbis News | Getty ImagesItaly's shock tax on banks continues to prove controversial,…
Black unemployment rate declines in August, even as it rose across the board
Pixelseffect | E+ | Getty ImagesThe unemployment rate for Black workers slipped in August, bucking the broader trend of a higher overall jobless rate.The overall unemployment rate ticked up to 3.8% last month, the highest since February…
Here’s where the jobs are for August 2023 тАФ in one chart
The August jobs report was another sign that the U.S. labor market is cooling off, though some of the sectors that have fueled the post-pandemic rebound remain strong.The Labor Department said Friday that the economy added 187,000 jobs in…
Jobs report August 2023:
The U.S. added more jobs than expected in August, a sign of resilience for a labor market under pressure from Federal Reserve interest rate hikes.Nonfarm payrolls grew by a seasonally adjusted 187,000 for the month, above the estimate for…
Lululemon (LULU) earnings Q2 2023
A customer enters a Lululemon store on June 02, 2023 in Corte Madera, California.Justin Sullivan | Getty ImagesLululemon raised its full-year guidance Thursday after reporting an 18% jump in both sales and profit for its fiscal second…
Taylor Swift, Beyonc├й and Barbenheimer are helping consumer spending
Taylor Swift, Beyonce, Barbie, OppenheimerGetty ImagesConsumer spending may not be out of the woods.Real spending is expected to come in 1.9% higher in the third quarter, helped in part by stadium tours from music superstars Taylor Swift…
Salesforce (CRM) earnings report Q2 2024
Salesforce CEO Marc Benioff walks with other attendees as they leave a morning session at the Allen & Company Sun Valley Conference in Sun Valley, Idaho, on July 12, 2023.Kevin Dietsch | Getty Images News | Getty ImagesSalesforce shares…
Polestar (PSNY) earnings Q2 2023
The Polestar 3 SUV, originally expected late this year, has been pushed into early 2024 because of delays with its Volvo-developed software.Courtesy: PolestarSwedish electric-vehicle maker Polestar on Thursday reiterated that it still…
Buy now, pay later firm Klarna reduces losses by 67%, revenue up 21%
Swedish buy now, pay later firm Klarna reduced its losses by roughly 67% in the first half of 2023, as the company dramatically cut costs in a bid toward profitability.The company reported overall net operating income of 9.2 billion Swedish…
UBS shares jump to 2008 highs after profit beat, job cuts announcement
General view of the UBS building in Manhattan on June 5, 2023 in New York City.Eduardo Munoz Alvarez | View Press | Corbis News | Getty ImagesUBS shares reached their highest point since late 2008 during early trade in Zurich on Thursday,…
Jack Daniel’s maker Brown-Forman (BF.B) earnings Q1 2024
Jack Daniel's Tennessee WhiskeyGetty ImagesJack Daniel's maker Brown-Forman┬аon Wednesday fell short of Wall Street expectations for its first quarter of fiscal 2024, plagued by lagging whiskey sales, supply challenges and a significant…
Shares of HP fall 8% following revenue miss
Enrique Lores, CEO, HPScott Mlyn | CNBCShares of HP fell more than 8% Wednesday morning after the printer and PC-maker released fiscal third quarter earnings that underwhelmed Wall Street.HP reported $13.2 billion in revenue, down from the…
U.S. job growth slowed sharply to 177,000 in August, below expectations, ADP says
A 'help wanted' sign is displayed in a window of a store in Manhattan on December 02, 2022 in New York City.┬аSpencer Platt | Getty ImagesJob creation in the United States slowed more than expected in August, according to ADP, a sign that…
Revenue rises in first half
Lego Star Wars toys sit on display inside a Toys R Us store in Paramus, New Jersey, Nov. 26, 2019.Bloomberg | Getty ImagesWhile other toy companies struggle with an inflation-fueled sales slump, Lego is building positive results brick by…
Best Buy (BBY) Q2 2024
Best Buy on Tuesday surpassed Wall Street's quarterly sales expectations, but tempered its outlook for the rest of the year as it feels the lull of post-pandemic spending on kitchen appliances, computer monitors and other electronics.CEO…
Nio earnings Q2 2023
Nio's ET5 stands on display at the Central China International Auto Show on May 25, 2023, in Wuhan, China.Getty Images | Getty Images News | Getty ImagesChinese electric vehicle maker Nio lost $835.1 million in the second quarter, more than…
Shares of China’s BYD jump after EV maker posts 200% rise in H1 profit
A BYD ATTO 3 is displayed during the British Motor Show at Farnborough International Exhibition Centre on August 17, 2023 in Farnborough, England.John Keeble | Getty Images News | Getty ImagesShares of Chinese automaker BYD listed in China…
Nordstrom (JWN) earnings Q2 2023
Nordstrom begins the process of closing its stores in Canada with the first day of a sale at the Eaton Centre in Toronto. March 21, 2023.Steve Russell | Toronto Star | Getty ImagesNordstrom on Thursday surpassed Wall Street's quarterly…
Gap (GPS) earnings Q2 2023
Pedestrians walk past Old Navy and GAP stores in Times Square, New York City.Drew Angerer | Getty ImagesGap reported mixed results on Thursday and underwhelming current-quarter guidance as the longtime mall retailer warned of an "uncertain…
China’s food delivery app Meituan shares fall on weaker Q3 outlook
Food delivery couriers for Meituan stand with insulated bags during a morning briefing in Beijing, China, on Wednesday, April 21, 2021.Yan Cong | Bloomberg | Getty ImagesMeituan's Hong Kong-listed shares fell more than 5% on Friday after…
Dollar Tree (DLTR) earnings Q2 2023
Shares of Dollar Tree fell on Thursday and hit a 52-week low, after the retailer said customers' shopping lists have largely narrowed to food and necessities.The discounter joins a growing group of retailers catering to consumers who have…
Qantas delivers record profit, international fleet set to increase
Australia's Transport Workers' Union have asked Qantas' CEO to resign over for "empty promises to frustrated passengers" and "announcing more tactics to silence workers and suppress wages."Phil Noble | ReutersAustralia's flagship carrier…
Nvidia (NVDA) earnings report Q2 2024
Nvidia founder, President and CEO Jen-Hsun HuangGetty ImagesNvidia shares climbed 8% in extended trading on Wednesday after the chipmaker beat estimates for the fiscal second quarter and issued optimistic guidance for the current…