Buildings in the central business district in Singapore, on Wednesday, Feb. 14, 2024. Singapore’s economy expanded by a slightly more modest pace than initially expected in 2023, as manufacturing activity contracted and services growth slowed. Nicky Loh | Bloomberg | Getty Images Asia-Pacific markets were set to round off the week higher, tracking gains on … Read more
Warren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024. CNBC A coincidence or master plan? Warren Buffett now owns the exact same number of shares of Apple as he does Coca-Cola after slashing the tech holding by half. Many Buffett followers made the curious observation after a … Read more
The money Vladislav Klyushin made from stolen financial information literally piled up, filling a safe with stacks of hundred-dollar bills. At one point, he was hoarding over $3 million in illegal gains. In less than three years, Klyushin’s cybersecurity scam amassed more than $93 million. His company, M-13, acted as a front for Russian hackers … Read more
Consumer spending held up even better than expected in July as inflation pressures showed more signs of easing, the Commerce Department reported Thursday. Advanced retail sales accelerated 1% on the month, according to numbers that are adjusted for seasonality but not inflation. Economists surveyed by Dow Jones had been looking for a 0.3% increase. June … Read more
U.S. crude oil futures rose 1% on Thursday, rebounding from two days of losses as the benchmark reached for $78 per barrel. The U.S. benchmark surged above $80 per barrel on Monday as Israel and OPEC member Iran appeared on the brink of direct conflict, with the Pentagon dispatching forces to the Middle East to … Read more
Buy now, pay later firms like Klarna and Block’s Afterpay could be about to face tougher rules in the U.K. Nikolas Kokovlis | Nurphoto | Getty Images Financial technology firm Klarna is pushing deeper into banking with its own checking account-like product and a cashback offering that rewards users for shopping via its app. The … Read more
Shipping containers are loaded onto an international freighter at the international cargo terminal in Tokyo. Yoshikazu Tsuno | AFP | Getty Images Asia-Pacific markets were largely up on Thursday after Japan’s GDP growth beat expectations, and also tracking Wall Street stocks that rose overnight after U.S. inflation data met market expectations. Consumer prices increased 2.9% year … Read more
Sergio Ermotti, chief executive officer of UBS Group Stefan Wermuth | Bloomberg | Getty Images ZURICH, Switzerland ꟷ UBS CEO Sergio Ermotti said Wednesday that market volatility could intensify in the second half of the year, but he does not believe the U.S. is heading into a recession. Global equities saw sharp sell-offs last week … Read more
Oil futures held steady Wednesday with U.S. crude trading above $78 per barrel, after President Joe Biden said Iran might refrain from attacking Israel if a cease-fire deal is reached in Gaza. Biden told reporters Tuesday afternoon his “expectation” is Iran would not strike Israel if a deal is clinched to stop the fighting in … Read more
Signs reading, ‘please bear with us: we are currently experiencing interruptions in our supply chain which may affect the availability of certain products,’ is seen taped to the drive-up menu at a Wendy’s restaurant on May 06, 2020 in Miami, Florida. Joe Raedle | Getty Images News | Getty Images Inflation rose as expected in … Read more
