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 […]
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 […]
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 […]
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 […]
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 […]
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 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 […]
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 […]
Capital One says it is eliminating all overdraft fees for retail banking customers. It’s the largest U.S. bank yet to end the industry practice of charging customers a hefty fee, typically $25 to $35 in each instance, for allowing transactions that exceed a customer’s balance, according to the McLean, Virginia-based lender. The move will cost […]
Toys R Us is taking another shot at opening up a store in the United States after its comeback plans were thwarted earlier this year due to the coronavirus pandemic. The toy retailer’s parent company, WHP Global, said Wednesday that it will open a two-level, 20,000-square-foot Toys R Us location at the American Dream megamall […]
The nation’s economic steward said it will back off of using the word “transitory” to describe the fast pace of price increases, as Federal Reserve policymakers acknowledge the increasing risk of more persistent inflation. “We tend to use [the word transitory] to mean that it won’t leave a permanent mark in the form of higher […]
Salesforce reported fiscal third-quarter earnings on Tuesday for the period ending Oct. 31, beating Wall Street expectations on earnings and sales. But shares fell over 6% in extended trading after earnings guidance for the fourth quarter fell short of expectations. Salesforce also named current President and COO Bret Taylor to be co-CEO alongside current CEO Marc Benioff. Benioff […]
