The latest decline in weekly jobless claims masks what’s really happening with many of the country’s unemployed: Millions of workers are out of work and can’t receive any benefits. About 3.8 million jobless individuals can’t collect because they exhausted their pandemic or state jobless benefits last year, according to The Century Foundation a progressive, nonpartisan […]
Apple CEO Tim Cook said on Thursday that the company’s supply chain challenges were improving, sending shares up about 5% in extended trading, while delivering a solid beat on earnings. Apple beat analyst estimates for sales in every product category except iPads and overall revenue was up 11% annually. Here is how Apple did in the quarter […]
Stocks whipsawed in volatile trading Thursday as investors mulled over an update from the Federal Reserve, the latest GDP report and corporate earnings. The Dow Jones Industrial Average closed little changed at 34,160.78. The blue-chip average was up more than 600 points at its highs. The S&P 500 ticked down 0.5% to 4,326.51, and the […]
Stock-trading app Robinhood gave a bleak revenue forecast for the first quarter of 2022 on Thursday as its latest earnings report showed a decline in active users. Shares of Robinhood tanked 15% in after hours trading. The newly public brokerage anticipates first-quarter revenue of less than $340 million, down 35% compared with 2021. Wall Street’s […]
Home Depot said Thursday that Chief Operating Officer Ted Decker will step into the role of CEO, effective March 1. The retailer’s current CEO, Craig Menear, 64, will continue to serve as chair of the board. Menear has been at the retailer for more than 20 years and began as CEO in November 2014. Home […]
The Federal Reserve is preparing to raise rates in March for the first time since the coronavirus pandemic struck the US as it attempts to curb rising prices. After its latest two-day meeting the central bank announced that it would leave interest rates close to zero for now but signaled it was preparing to raise […]
Tesla hit new record annual and fourth-quarter profits Tuesday, in spite of supply chain challenges that the firm says it expects to continue throughout 2022. The Texas-based company headed by Elon Musk posted a record annual profit of $5.5 billion, up from the previous record of $3.47 billion in 2020, which was its first profitable […]
General Motors helped hook Americans on gas-guzzling trucks and SUVs that have been a disaster for the climate. Now, it’s getting serious about a pivot to electric vehicles amid increased electrification efforts from other top automakers. On Tuesday the automaker announced it will invest roughly $7 billion to build out a new EV battery production […]
Saudi Arabia, the world’s largest oil exporter, is expected to lift the official selling prices of all its crude grades sold in Asia next month on the back of solid demand and refining margins, refining sources told a Reuters survey this week. Saudi Arabia usually sets the official selling prices (OSPs) of its crude for […]
Logitech’s better-than-expected quarterly results may have been stronger without the ongoing supply chain challenges, CEO Bracken Darrell told CNBC’s Jim Cramer on Tuesday. “We could have been even better,” Darrell said in an interview on “Mad Money.” “We lost several points of growth because we couldn’t get supply in everything we wanted, but we still […]
Elon Musk’s sway over the price of dogecoin continues following a Tuesday tweet from the world’s richest person. Musk tweeted Tuesday morning that McDonald’s should accept the meme-crypto token as a form of payment, and if they did he would eat a happy meal on TV. “I will eat a happy meal on tv if […]
LONDON, Jan 25 (Reuters) – Shell (RDSa.L) has made a significant oil and gas discovery at an closely-watched offshore well in Namibia which could spark a wave of investment in the southern African country, three industry sources told Reuters. Namibia is not a fossil fuel producer, although northern neighbour Angola is a major oil and gas producer […]
