A. Perez Meca | Europa Press | Getty Images The European Commission is set to fine Apple about 500 million euros ($539 million) over alleged breaches of EU competition law, the Financial Times reported on Sunday, citing unnamed sources with knowledge of the matter. Brussels first launched an investigation into allegations that Apple hindered third-party … Read more
A man walks past a grocery store on February 01, 2023 in New York City. Wages for workers in most major U.S. cities grew at a slower pace in the final three months of 2022, with inflation still outstripping pay for many workers. Leonardo Munoz | Corbis News | Getty Images This report is from … Read more
Mathisworks | Digitalvision Vectors | Getty Images Corporate America has a message for Wall Street: It’s serious about cutting costs this year. From toy and cosmetics makers to office software sellers, executives across sectors have announced layoffs and other plans to slash expenses â even at some companies that are turning a profit. Barbie maker … Read more
Wall Street’s five-week winning streak came to an end, with the S & P 500 losing 0.42% for the week, while the Dow Jones Industrial Average lost 0.11% and the Nasdaq Composite fell 0.82%. It was a roller coaster week driven largely by inflation data. A hotter-than-expected consumer price index on Tuesday sent stocks reeling, … Read more
A host of similarities between tech stocks now and previous bubbles suggest the Magnificent Seven is nearing — but not yet at — levels that may lead it to pop, according to Bank of America Corp. strategists. They cite a handful of indicators, such as bond yields, valuations and price action, that suggest there are … Read more
Wall Street’s whales turned on Alphabet . Hedge fund managers and billionaire investors alike lightened up on shares of the Google parent â or dumped them all together â in the fourth quarter of 2023, regulatory filings revealed. While backward-looking, these disclosures nevertheless shine a light on the moves influential investors have made. The sales … Read more
Sam Altman, CEO of OpenAI, attends the 54th annual meeting of the World Economic Forum, in Davos, Switzerland, on Jan. 18, 2024. Denis Balibouse | Reuters A group of 20 leading tech companies on Friday announced a joint commitment to combat AI misinformation in 2024 elections. The industry is specifically targeting deepfakes, which use deceptive … Read more
Customers visit Macy’s Herald Square store on December 17, 2023 in New York City. Kena Betancur | Corbis News | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what … Read more
Jeff Green, CEO, The Trade Desk Scott Mlyn | CNBC Shares of The Trade Desk jumped over 18% on Thursday after the advertising technology company issued strong first-quarter guidance and beat on revenue. Here’s what analysts were expecting: Earnings per share:Â 41 cents, adjusted vs. 43 cents expected by LSEG, formerly known as Refinitiv Revenue: $606 … Read more
Jeff Bezos looks on from the sidlines before kickoff between the Kansas City Chiefs and Los Angeles Chargers at GEHA Field at Arrowhead Stadium on September 15, 2022 in Kansas City, Missouri. The Amazon founder and chairman is one of the world’s richest men. Cooper Neill | Getty Images Sport | Getty Images Amazon founder … Read more
