A customer shops at a supermarket in Tokyo on Feb. 27, 2024. Kazuhiro Nogi | Afp | Getty Images Asia-Pacific markets were set to open lower on Friday as investors await U.S. Federal Reserve chairman Jerome Powell’s comments at Jackson Hole. In the past, Powell has outlined broad policy initiatives and provided clues about the … Read more
Customers arrive at a Cava restaurant in New York City on June 22, 2023. Brendan Mcdermid | Reuters Cava on Thursday raised its full-year outlook as its restaurants reported strong traffic, fueling better-than-expected quarterly earnings and revenue. Shares of the company rose 7% in extended trading. The stock has more than doubled its value this … Read more
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets drop: Wall Street struggled to hold onto its early gains and moved lower. We’re not surprised to see the market take a breather after its … Read more
Mike Lynch, 59, is the founder of enterprise software firm Autonomy. He was acquitted of fraud charges in June after defending himself in a trial over allegations that he artificially inflated Autonomy’s value in an $11.7 billion sale to tech giant Hewlett Packard. Chris Ratcliffe | Bloomberg | Getty Images LONDON — British technology entrepreneur … Read more
Philadelphia Federal Reserve President Patrick Harker on Thursday provided a strong endorsement to an interest rate cut on the way September. Speaking to CNBC from the Fed’s annual retreat in Jackson Hole, Wyoming, Harker gave the most direct statement yet from a central bank official that monetary policy easing is almost a certainty when officials … Read more
U.S. crude oil was above $72 per barrel on Thursday after erasing most of its gains for the year as soft demand in China and worries about the U.S. economy weighed on the market. The U.S. benchmark is now up just 0.91% for the year, while global benchmark Brent crude has erased all of its … Read more
A logo stands on display above the headquarters of Deutsche Bank AG at the Aurora Business Park in Moscow, Russia. Andrey Rudakov | Bloomberg | Getty Images Deutsche Bank has reached settlements with nearly 60% of plaintiffs in a long-running case alleging the German lender underpaid for its acquisition of Postbank more than a decade … Read more
In this photo illustration, a WeRide logo of Chinese robotaxi firm is seen on a smartphone and a pc screen. Getty Images Self-driving technology company WeRide delayed its plan for an initial public offering in the U.S., citing its need for more time to complete documents. “Updating transaction documents is currently taking longer than expected, … Read more
The U.S. 10-year Treasury rose on Thursday as investors looked ahead to remarks from Federal Reserve Chairman Jerome Powell. The yield on the 10-year Treasury was up more than 2 basis points at 3.799%, while the yield on the 2-year Treasury was roughly 1 basis point higher at 3.929%. Yields and prices move in opposite … Read more
Aerial view of a ship at sea. Suriyapong Thongsawang | Moment | Getty Images A Greek-flagged oil tanker was left abandoned, adrift and ablaze in the Red Sea following strikes off the Yemeni coast. The U.K. Maritime Trade Operations agency on Wednesday reported that a fire had erupted aboard a tanker, which lost engine power … Read more
