A Commerzbank AG bank branch, in the financial district of Frankfurt, Germany, on Thursday, Sept. 12, 2024. Krisztian Bocsi | Bloomberg | Getty Images Commerzbank and UniCredit are set to begin talks Friday, with the German bank on the defensive over a potential takeover after its Italian counterpart unexpectedly increased its stake earlier this month. … Read more
Costco on Thursday reported ho-hum quarterly results, with a small topline miss being more than offset by strong profitability to deliver an earnings beat. The report didn’t blow us away, but it still offered plenty of reminders on why Costco investors should stick around. Total revenue in its fiscal 2024 fourth quarter totaled $79.7 billion, … Read more
Candidates in the upcoming leadership race for the ruling Liberal Democratic Party (LDP) join hands after giving speeches for the Liberal Democratic Party presidential election in Osaka, Japan on September 18, 2024. Str | Afp | Getty Images Japan’s ruling party election has entered a runoff between economic security minister Sanae Takaichi and former defense … Read more
OpenAI’s Sora AI tool allows users to create AI-generated videos from text-based inputs. Costfoto | Nurphoto | Getty Images OpenAI CFO Sarah Friar is looking to reassure its investors that the richly valued artificial intelligence startup is still in a strong position and is poised to close a big funding round soon, despite losing top … Read more
Excavators transfer coal at the coal terminal in China’s eastern Jiangsu province on January 22, 2024. Str | Afp | Getty Images China’s industrial profits plunged by 17.8% in August from a year ago, the National Bureau of Statistics said Friday. That followed a 4.1% year-on-year increase in July, the fastest pace in five months. … Read more
Traders work on the floor of the NYSE. NYSE 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 you see? You can subscribe here. What you need to know today All-time high, … Read more
Extreme temperatures are driving travelers to seek cooler destinations. And there’s a term for the trend: “coolcations.” Heat waves — which are increasing in frequency, duration and intensity, according to the U.S. Environmental Protection Agency — are affecting where people are choosing to vacation, especially during the hot summer months. “Often, when we think of vacation, … Read more
At an all-hands meeting on Thursday, OpenAI CEO Sam Altman denied that there are plans for him to receive a “giant equity stake” in the company, calling that information “just not true,” according to a person who was in attendance. Altman and finance chief Sarah Friar both said at the meeting, conducted by video, that … Read more
Bristol Myers Squibb’s Cobenfy drug Courtesy: Bristol Myers Squibb The Food and Drug Administration on Thursday approved Bristol Myers Squibb‘s highly anticipated schizophrenia drug Cobenfy, the first novel type of treatment for the debilitating, chronic mental disorder in more than seven decades. Schizophrenia affects how a person thinks, feels and behaves, and can cause paranoia, … Read more
The Nasdaq Market site is seen on the day that shares of Truth Social and Trump Media & Technology Group start trading under the ticker “DJT”, in New York City, U.S., March 26, 2024. Shannon Stapleton | Reuters United Atlantic Ventures LLC, a major shareholder in Trump Media, has sold or otherwise gotten rid of … Read more
