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Browsing Category
Business
This week provided a reminder that inflation isn’t going away anytime soon
Gas prices are displayed at a gas station on March 12, 2024 in Chicago, Illinois. Scott Olson | Getty ImagesFrom consumer and wholesale prices to longer-term public expectations, inflation served up multiple reminders this week that it…
Wholesale inflation rose 0.6% in February
Wholesale prices accelerated at a faster than expected pace in February, another reminder that inflation remains a troublesome issue for the U.S. economy.The producer price index, which measures pipeline costs for raw, intermediate and…
Dick’s Sporting Goods (DKS) earnings Q4 2023
Dick's Sporting Goods logo is seen on the shop in Williston, United States on June 19, 2023. Jakub Porzycki | Nurphoto | Getty ImagesDick's Sporting Goods raised its dividend by 10% on Thursday as the company posted its largest sales…
We need to ‘take our time’ to get rate cuts right
The European Central Bank must take its time to get interest rate cuts right, its chief economist, Philip Lane, said Thursday."A lot of evidence is accumulating, but what's also fair to say is that the transition from this holding phase,…
Zara owner Inditex climbs to all-time high as 2023 sales jump 10%
Shopper carrying two large shopping bags from the clothing retailer Zara on Oxford Street on 5th February 2024 in London, United Kingdom. Oxford Street is a major retail centre in the West End of the capital and is Europes busiest shopping…
Adidas warns of falling sales in North America as it continues to sell off Yeezy inventory
Adidas shoes are displayed at a DSW store on January 31, 2024 in Novato, California. Justin Sullivan | Getty ImagesAdidas on Wednesday warned of a sales decline in its overstocked North American market in 2024, as the German sportswear…
UK economic growth, January 2024
People walk along Waterloo Bridge past the City of London skyline, the capital's financial district, on a sunny and mild day.Sopa Images | Lightrocket | Getty ImagesLONDON — U.K. gross domestic product grew 0.2% in January, the Office for…
CPI inflation report February 2024:
Inflation rose again in February, keeping the Federal Reserve on course to wait at least until the summer before starting to lower interest rates.The consumer price index, a broad measure of goods and services costs, increased 0.4% for the…
Consumer spending rebounded in February, according to the CNBC/NRF Retail Monitor
Customers shop in a Walmart Supercenter on February 20, 2024 in Hallandale Beach, Florida. Joe Raedle | Getty Images News | Getty ImagesConsumer spending bounced back in February from a January dip, with a little help from Leap Day. But…
Porsche warns of fall in profitability but hikes dividend on strong 2023 results
The Porsche Mission X on display at the IAA Mobility 2023 show in Munich, Germany.Arjun Kharpal | CNBCPorsche on Tuesday warned that profitability will decline this year as it launches new models amid tough economic conditions, but hiked…
Lego revenue grows 2% in 2023, as CEO hails strong U.S. progress
The chief executive of Denmark's Lego on Tuesday reflected on a tough year for the world's largest toymaker, and outlined the firm's long-term plans to stay relevant and "cool with kids."Lego said its 2023 revenue was 2% higher compared to…
Oracle (ORCL) earnings report Q3 2024
Larry Ellison, co-founder and executive chairman of Oracle Corp., speaks during the Oracle OpenWorld conference in San Francisco on Oct. 22, 2018.David Paul Morris | Bloomberg | Getty ImagesOracle reported quarterly earnings on Monday that…
A key inflation reading is due out Tuesday morning. Here’s what to expect
Shoppers are seen in a Kroger supermarket on October 14, 2022, in Atlanta, Georgia. Elijah Nouvelage | AFP | Getty ImagesRising gasoline prices likely put a floor under inflation in February, potentially reinforcing the Federal Reserve's…
Long-term inflation expectations rise, spelling possible trouble for the Fed, survey shows
Customers shop at a Costco store on August 31, 2023 in Novato, California. According to a report by the Commerce Department, consumer spending rose 0.8% in July beating expectations of 0.7%. (Photo by Justin Sullivan/Getty Images)Justin…
Trump pledges to get tough with tariffs again if elected
Proclaiming that "I'm a big believer in tariffs," former President Donald Trump on Monday indicated he's likely to reinstitute duties on foreign goods should he win election to a second term.In a CNBC interview, Trump cited both economic…
Aramco posts 25% fall in full-year profit
Logo of Aramco, officially the Saudi Arabian Oil Group, Saudi petroleum and natural gas company, seen on the second day of the 24th World Petroleum Congress at the Big 4 Building at Stampede Park, on September 18, 2023, in Calgary, Canada. …
Unemployment fell for Black women in February, even as more joined the labor force
A sign posted outside a restaurant looking to hire workers in Miami, May 5, 2023.Joe Raedle | Getty Images News | Getty ImagesUnemployment among Black women fell in February even as the number of those looking for work increased, data…
U.S. job growth totaled 275,000
Job creation topped expectations in February, but the unemployment rate moved higher and employment growth from the previous two months wasn't near as hot as initially reported.Nonfarm payrolls increased by 275,000 for the month while the…
Gap (GPS) earnings Q4 2023
A general view of an Old Navy store. Gap Inc.Gap's largest banner Old Navy returned to growth for the first time in more than a year during its holiday quarter as the retailer delivered earnings on Thursday that came in well ahead of Wall…
Jobs report Friday is expected to show a slowing but still healthy labor market
A workers stocks the shelves in a CVS pharmacy store on February 07, 2024 in Miami, Florida. Joe Raedle | Getty ImagesJob growth in the U.S. likely decelerated in February while still a long way from stall speed as companies continue to…
Costco (COST) Q2 2024 earnings
Mandel Ngan | Afp | Getty ImagesCostco on Thursday missed Wall Street's revenue expectations for its holiday quarter, despite reporting year-over-year sales growth and strong e-commerce gains.Shares of the retailer fell about 4% in…
Layoffs rise to the highest for any February since 2009, Challenger says
More than 75 employers were taking resumes and talking to prospective new hires at a career fair in Lake Forest, CA on Wednesday, February 21, 2024. Paul Bersebach | Medianews Group | Orange County Register | Getty ImagesLayoff…
European Central Bank holds interest rates, cuts inflation and growth forecasts
European Central Bank policymakers on Thursday lowered their annual inflation and growth forecasts, as they confirmed a widely expected hold of interest rates.Staff projections now see economic growth of 0.6% in 2024, from a previous…
American Eagle (AEO) earnings Q4 2023
American Eagle on Thursday announced a new strategy to boost profitable growth over the next three years, as the retailer said it wrote off $94 million in impairment charges related to its internal logistics business Quiet Platform.The…
Teleperformance falls 20%; CEO pushes back on AI fears
Shares of Teleperformance plunged 20% on Thursday, after the French call center and office services group missed its full-year revenue target and flagged a "volatile economic environment."Investors have been spooked by the potential impact…
Hugo Boss plunges 18% on pessimistic sales outlook in worst day since 2016
Mannequins display men's suits inside a Hugo Boss showroom.Bloomberg | Bloomberg | Getty ImagesShares of Hugo Boss plunged 18%, before paring losses slightly Thursday, after warning that it may fail to meet its 2025 sales target amid…
Egypt hikes interest rates by 600 basis points, pound crumbles to record low
Yousef Gamal El-Din | CNBCEgypt's pound hit a record low against the dollar on Wednesday after its central bank hiked interest rates by 600 points and devalued the currency.The steps were meant to facilitate an agreement with the…
ADP jobs report February 2024
People work at a restaurant at Chelsea Market in Manhattan on February 02, 2024 in New York City. Spencer Platt | Getty ImagesPrivate sector job growth improved during February though growth was slightly less than expected, payrolls…
Abercrombie & Fitch (ANF) earnings Q4 2023
Abercrombie & Fitch said Wednesday that its holiday-quarter sales jumped 21% and its profits grew thanks to higher prices and lower raw material costs.The apparel retailer expects its growth story will continue as it issued…
Foot Locker (FL) earnings Q4 2023
The Foot Locker logo is displayed in a store on May 19, 2023 in San Francisco, California. Justin Sullivan | Getty ImagesShares of Foot Locker fell in premarket trading Wednesday after the sneaker retailer reported a holiday-quarter loss…