It was the must-have gadget of, well, last week. Elon Musk’s Boring Company flamethrower, retailing at $500, sold out within days of its launch. All 20,000 were gone. Everyone wanted one, it seemed. Musk had made it appear so very exciting. Now he has to face a familiar problem: delivery. And it seems there is […]
J.P. Morgan Chase, Bank of America and Citigroup said Friday they are no longer allowing customers to buy cryptocurrencies using credit cards. “At this time, we are not processing cryptocurrency purchases using credit cards, due to the volatility and risk involved,” a J.P. Morgan Chase spokesperson said in a statement to CNBC. “We will review […]
Friday marked the last day for Janet Yellen as the head of the Federal Reserve, giving way to her successor, 64-year-old Jerome Powell. Powell previously worked as a partner at private equity firm The Carlyle Group and was nominated to the Fed’s Board of Governors by President Barack Obama in 2011. He is expected to […]
The U.S. economy in January continued the slow but steady improvements that have characterized the post-recession period, as federal economists Friday reported that employers added 200,000 jobs last month while unemployment held steady at 4.1 percent. Worker pay jumped in January, with average hourly wages up 2.9 percent from a year ago. The bump suggests […]
The Federal Reserve said Friday it is restricting Wells Fargo’s size in response to “widespread consumer abuses.” As a result, Wells Fargo plans to replace three directors by April and a fourth by the end of the year. The Fed is prohibiting the bank from growing any larger than its total assets as of the […]
By raining down laser pulses on some 770 square miles of dense forest in northern Guatemala, archaeologists have discovered 60,000 Maya structures that make up full sprawling cities. And the new technology provides them with an unprecedented view into how the ancient civilization worked, revealing almost industrial agricultural infrastructure and new insights into Maya warfare. […]
Alphabet Inc.’s earnings Thursday after the bell contained something of a surprising detail: Its Google cloud unit is banking $1 billion a quarter in sales. Though that’s a small portion of the company’s overall $32.32 billion in revenue, it’s a fast-growing chunk. And it’s the first time in years executives have broken out cloud specifically. […]
Archaeologists in Egypt have discovered a 4,400-year-old tomb near the country’s famed pyramids at the Giza plateau just outside Cairo, the Antiquities Ministry said Saturday, the latest discovery that authorities hope will help revive the country’s staggering tourism sector. The tomb was found in a wider area of Giza’s western necropolis, which is known to […]
British and EU negotiators hold their first formal Brexit talks next week since an interim deal in December unlocked discussions on their future relationship. Here are key dates in the process to come: Feb. 5 – EU chief negotiator Michel Barnier meets his British opposite number Brexit Secretary David Davis in London. Feb. 6-8 – […]
Famous Vermont coffee roaster and small appliance brand Keurig Green Mountain announced Monday a merger with a Plano-Texas based company behind some of the best-known brands in store drink aisles. Dr Pepper Snapple Group has more than 50 beverage brands, including Dr Pepper, Snapple, 7UP, Sunkist, Mott’s juices, A&W Root Beer, Hawaiian Punch, Mr & […]
Exxon Mobil Corp (XOM.N) plans to invest billions of dollars in the United States due in part to recently approved corporate tax rate cuts, the company’s chief executive said on Monday. Darren Woods, head of the world’s largest publicly traded oil producer, said in a blog post on the company’s website that Exxon expects to […]
The U.S. Justice Department and the country’s derivatives regulator said on Monday they had filed civil and criminal charges against three European banks, which paid $46.6 million to settle the cases, and eight individuals for alleged manipulation in U.S. futures and commodities market. UBS, Deutsche Bank and HSBC and former traders at the banks, as […]
