Oil prices dropped about 7% to settle at their lowest level in more than a week, as a worsening COVID-19 outbreak in China threatened to hurt energy demand. Hopes for progress in peace talks between Russia and Ukraine helped ease some concerns over risks to energy supplies. West Texas Intermediate crude for May delivery dropped […]
Category: Top News
Dairy Queen launches Stackburger line as chain sees record sales in 2021
Dairy Queen is expanding its burger offerings as the fast-food chain looks beyond Blizzards and other desserts. The new Stackburger line is Dairy Queen’s biggest menu expansion in two decades, with five burger flavors for U.S. customers: Flamethrower, Loaded A1, Bacon Two Cheese Deluxe, Two Cheese Deluxe and the Original Cheeseburger. They’re available as one-third […]
Tesla wants to split its stock so it can pay a stock dividend; shares gain
Tesla wants to split its stock so it can pay a stock dividend to shareholders, according to a filing Monday. The Securities and Exchange Commission filing said the electric car maker will ask at its annual shareholders meeting “for an increase in the number of authorized shares of common stock … in order to enable […]
FedEx names Raj Subramaniam as CEO, replacing founder Fred Smith
FedEx Corp. said Monday that Fred Smith will step down on June 1 as CEO of the package-delivery company that he founded and be succeeded by the company’s president and chief operating officer. Raj Subramaniam will serve as both CEO and president and Smith will become executive chairman, the package-delivery company said. Smith, 77, started […]
Oil prices slide amid Shanghai two-stage lockdown
Oil prices went down on Sunday amid Shanghai authorities announcing the city will lockdown in two stages in order for residents to undergo COVID-19 testing. The lockdown announcement comes amid a new daily record for asymptomatic COVID-19 infections. Shanghai will be divided into two parts for the lockdown and will use the Huangpu River as […]
Stock futures slip ahead of a big week of economic data
Stock futures were lower early Monday morning as investors look ahead to a series of key economic reports and continue to keep a close eye on the Federal Reserve’s planned interest rate hikes. Futures tied to the Dow Jones Industrial Average moved lower by 131 points, or 0.38%. S&P 500 futures and Nasdaq 100 futures […]
European markets climb as investors follow Ukraine developments
LONDON — European stocks moved higher on Monday as investors continue monitoring developments in the war between Ukraine and Russia. The pan-European Stoxx 600 added 0.5% in early trade, with insurance stocks climbing 1.3% to lead gains as almost all sectors and major bourses entered positive territory. Global markets are watching events in Ukraine closely more than […]
Amazon faces another high-stakes union election as vote kicks off in Staten Island
On Friday afternoon, a stream of Amazon workers exited a sprawling warehouse on New York’s Staten Island after wrapping up the daytime shift. Many of them packed into city buses to head home. On their way, they walked past a large, white tent stretching across a chunk of the parking lot. That tent will be a crucial […]
Stocks could take their cue from oil, inflation and interest rates in the week ahead
March’s employment report is coming up in the week ahead, but developments in Ukraine, the price of oil and an inflation report are likely to steer the market. Stocks notched gains for the week, while interest rates ripped higher and oil prices jumped. Energy was the top-performing sector, up more than 7%, as West Texas […]
FCC says Russia’s Kaspersky Lab is a national security threat
On Friday, the Federal Communications Commission added Russia’s Kaspersky Lab to its “Covered List,” labeling the cybersecurity firm an “unacceptable” national security risk to the US. The move marks the first time the agency has blacklisted a Russian company. With the decision, US companies can’t use subsidies from the FCC’s $8 billion Universal Service Fund […]
GM To Temporarily Close Pickup Plant Due To Chip Shortage
The chip shortage continues. As Ford ships models without computer chips to dealerships, General Motors has decided to take a different option to deal with the lack of chips. GM has chosen to temporarily shutter one of its production facilities to reduce the number of vehicles it’s building without chips. General Motors is also lobbying […]
The abrupt Starbucks CEO change reveals a big topic boards struggle with
The recent news out of Starbucks that Kevin Johnson will be stepping down as CEO on April 4 and founder Howard Schultz will again be leading the company puts the critical process of CEO succession planning back into the spotlight. Selecting the right leader for an organization is arguably the most important job of a […]