The U.S. Treasury named 12 countries to monitor in a mostly positive report to Congress about trading partners in the post-pandemic global economy. The report, to which the Office of International Affairs contributed, boasted strong global economic growth – up 5.9% in 2021 after a contraction of 3.1% in 2020. Economies that “undertook strong macroeconomic […]
Category: Top News
Nvidia’s $40 billion Arm deal is all but dead — but it’s not a huge loss
Graphics card giant Nvidia’s (NVDA) plans to buy Arm, which licenses chip designs, looks all but dead after the Federal Trade Commission sued to block the deal on Thursday. The move is just the latest blow to the $40 billion deal and would seem to strike the final blow to a deal that would have […]
New Twitter CEO Parag Agrawal begins restructuring as two execs step down
Earlier this week, Twitter co-founder and CEO Jack Dorsey stepped down from his role. He appointed CTO Parag Agrawal as new CEO, effective immediately. Agrawal, who joined Twitter as an engineer in 2011, already announced a major reorganization of the company today, per an internal email obtained by The Washington Post. Twitter confirmed the news […]
Honda recalls SUVs and pickups because hoods can fly open at high speeds
Honda is recalling nearly 789,000 SUVs and pickup trucks globally because the hoods can open while the vehicles are moving, heightening the risk of an accident. The recall covers certain 2019 Passports, 2016 through 2019 Pilots and 2017 through 2020 Ridgeline pickups. “Gaps in the front seal between the hood and the grill allow for […]
Cramer says he plans to own Costco for the long term. Here’s why
CNBC’s Jim Cramer said Friday he intends to own Costco for the long term because the wholesale retailer has the most valuable quality he looks for in stocks: pricing power. “Costco has the No. 1 most important quality in a great stock: This is a company with the ability to raise price at will,” the […]
Stocks post losses ending roller coaster week
U.S. stocks finished the session lower in another choppy session as traders digested a mixed jobs report along with hawkish comments from Federal Reserve Bank of St. Louis President James Bullard. Bullard, who will be a voting member of the Fed next year, highlighted the “unexpected inflation shock in the U.S.” as monetary policy remains […]
Softbank-backed Grab falls more than 20% in first day of trading following largest-ever SPAC merger
Southeast Asia’s ride-hailing giant Grab fell sharply on its first day trading on the Nasdaq, after becoming the largest-ever company to close a SPAC merger and go public. Shares opened the trading day at $13.06 apiece under ticker symbol “GRAB,” following a deal with Altimeter Growth Corp. that valued the four-time CNBC Disruptor 50 company […]
Debt collectors can now reach out to you over social media
ORLANDO, Fla. — From emails to private messages to friends on social media, we send all sorts of messages from our computers. Now, debt collectors can send a reminder in that private social media inbox. “If you’re trying to avoid a debt collector, you know not to check the mailbox, you know not to check […]
Didi says it will delist from the New York Stock Exchange and prepare to list in Hong Kong
Chinese ride-hailing giant Didi said Friday that it will start delisting from the New York Stock Exchange, and make plans to list in Hong Kong instead. Didi said it reached that decision after careful consideration. Shares of Didi plunged last week after reports that Chinese regulators have asked the firm’s executives to formulate a plan […]
FTC sues to block Nvidia’s $40 billion acquisition of Arm
The Federal Trade Commission on Thursday sued to block Nvidia’s $40 billion acquisition of Arm from SoftBank on antitrust grounds. The deal has faced scrutiny from regulators since it was announced last year. The U.S. action is the biggest hurdle it has faced yet, and threatens whether the deal will be completed. “The proposed vertical […]
El Salvador’s President Asks the Fed to Stop Printing Money
El Salvador’s pro-crypto president commented on a report on the U.S. Fed’s response to escalating economic and financial woes. On Dec. 1, the outspoken Nayib Bukele responded to a Bloomberg report detailing Federal Reserve chair Jerome Powell’s comments on inflation. Interestingly, El Salvador’s president asked the Fed chief to stop printing so much money out […]
Euro zone factory growth picked up in Nov but inflationary pressures mounted
LONDON (Reuters) – Manufacturing growth in the euro zone accelerated slightly last month but supply chain bottlenecks worsened, putting a cap on output and driving the cost of raw materials up at the fastest rate in over two decades, a survey showed. Disruptions caused by the coronavirus pandemic, alongside a shortage of heavy goods vehicle […]