Jim Cramer explained why the increasing price of oil has Wall Street scared about a recession, pointing to a drop in energy stocks on Wednesday despite crude hitting a record high. “As long as oil prices keep climbing, it’s hard to make the case for a soft landing. Oil’s a nightmare for the Fed. It … Read more
Volkswagen of America CEO Scott Keogh told on Wednesday that the company is “actively” looking to develop additional assembly and battery plants in the United States. Keogh refused to comment on probable locations for such activities. Currently, the German carmaker operates North American assembly operations in Tennessee and Mexico. CHATTANOOGA, TENNESSEE — Volkswagen of America … Read more
Jim Cramer warned investors on Wednesday not to invest in digitization stocks while the potential of a recession looming. “You can’t rationalize owning them unless you believe the [Federal Reserve] will rapidly beat inflation without doing much more to harm the economy,” the “Mad Money” host added. Jim Cramer warned investors on Wednesday not to … Read more
Mohnish Pabrai, a disciple of Warren Buffett, names his 2 favorite investing books Are you looking for stocks with long-term value? Mohnish Pabrai, a seasoned investor, recommends two books. Pabrai, a value investor and disciple of billionaire Warren Buffett, told CNBC Pro Talks that “100 to 1 in the Stock Market” is an “extremely well-written” … Read more
Spirit Airlines has postponed its shareholder meeting, which was originally scheduled for Friday, until June 30. The carrier will continue discussions with Frontier Airlines and JetBlue Airways about competing offers. Frontier and JetBlue both increased their promotions in the last week. Spirit Airlines has postponed its shareholder meeting, which was scheduled for Friday, until June … Read more
China is one of Nike’s most important markets. China is also a key manufacturing hub for the brand, producing roughly one-fifth of Nike’s footwear and apparel. Nike Run Club, which allows users to track their runs and participate in challenges with friends, has more than 8 million users in China who have collectively covered more … Read more
According to reports, Elon Musk will be granted access to Twitter’s “firehose” of proprietary data. According to the Washington Post, Musk could get access to internal data as soon as this week. This is just the latest twist in Musk’s tumultuous proposed takeover of Twitter. According to the Washington Post, Twitter has agreed to Elon … Read more
Microsoft is the most recent company to cut ties with Russia. Microsoft has announced that it is “significantly” reducing its operations in Russia, more than three months after Russia invaded Ukraine. Amy Hood, CFO of Microsoft, revealed earlier this year that Russia accounts for less than 1% of Microsoft’s revenue. Microsoft has announced that it … Read more
According to James Kavanaugh, IBM senior vice president and chief financial officer, Russia generated approximately $300 million in revenue. Approximately $200 million in profit and cash in fiscal 2021.officer, at IBM’s first fiscal quarter 2022 financial analyst conference call on April 19. The shutdown process began on May 30, and it will result in the … Read more
The majority of the new hires will be based in Hong Kong and Singapore. Citi’s sales in the region exceeded $10 billion last year. Citigroup Inc. intends to hire approximately 3,000 additional employees for its institutional business in Asia as it expands its footprint in the area. According to Citi spokesman James Griffiths, the new … Read more
NBA Hall-of-Famer Gary Payton has joined forces with Hennessy, the NBA’s Official Spirit, to assist the brand’s Unfinished Business programme. Hennessy has collaborated with the NBA to expand the scope and effect of their Unfinished Business initiative. Donating $2.5 million to minority-owned small businesses in communities around the country. Unfinished Business is a long-term Hennessy … Read more
Joanna Gaines purchase price for the home in 2019 was not disclosed, but it was marketed at $425,000 and had a tax evaluation of $350,700 at the time. Tickets are $50, with no tickets required for children under the age of seven, and are exclusively available online. Magnolia will donate 20% of tour proceeds to … Read more
Russia-US dialogue unheard-of low level, as per Ambassador Antonov. Trust is dissolving, and cooperation is breaking down even on matters of mutual interest, according to Russian Ambassador to the United States Anatoly Antonov. “Russian-American political dialogue is at an unprecedented low level. Ambassador Anatoly Antonov, The US State Department restated its position that the crisis … Read more
Songtradr, a German AI metadata and music search startup with access to more than 50 million song titles, for an undisclosed sum. The acquisition comes more than a year after the Australian-owned, Los Angeles-based company purchased online music “Musicube is an AI solution founded in 2019 by David Hoga and Agnes Chung that allows users … Read more
“It has also put aside up to $300 million to boost liquidity in the farmers-only sharemarket via a new repurchase scheme or other means. Fonterra is in the process of a capital reorganization that has just gotten government. The co-op’s hit a lifetime low of $2.20 per share last month and have more than halved … Read more
“She said during remarks on the second day of the Summit of the Americas, which brings together countries from across the hemisphere. “ Harris stated that she plans to focus her efforts on uplifting women who experience poverty and abuse in their own countries. With her concentration on the region, Harris is following in the … Read more
Henry Lee joins Ares Wealth Management Solutions as Head of Asia, overseeing retail product development, distribution, and strategic distribution partnerships throughout the region. He has more than 17 years of experience in private banking and investment management, with a focus on alternative investing. “I am excited to join Ares as the firm continues to expand … Read more
Brenda Edwards, a panelist on Loose Women, claims she was in a ‘state of shock’ after learning how her son died. Jamal Edwards, a music entrepreneur and YouTube sensation, died from arrhythmia caused by recreational drug use, according to his mother. She said after a postmortem she had “reason to suspect the death is an … Read more
“Treasury Secretary Janet Yellen admitted on Tuesday that she and Federal Reserve Chair Jerome Powell “could have used a better word” than “transitory” to describe the predicted run of inflation in the United States. “I do expect inflation to remain high although I very much hope that it will be coming down now,” Yellen told … Read more
Vik Bansal, the former CEO of waste management company Cleanaway, has been named the new managing director of Boral Limited. The statement comes a year and a half after he resigned from Cleanaway, which came after Bansal faced workplace bullying allegations during his employment at the Australian rubbish collection company. Bansal’s appointment as CEO and … Read more
The S&P 500 rose 39.25 points, or 1%, to 4,160.68, reversing a 1% drop in the morning. Stocks initially dipped on Wall Street as Target warned of reduced profit margins as it reduces prices to clear out inventory. The fragility of the economy has been on Wall Street’s mind this year, amid concerns about interest-rate … Read more
ServiceNow On Monday, CEO Bill McDermott told Jim Cramer that he does not expect the current economy to see a market drop similar to the 2008 financial catastrophe. “This is not even close to 2008. In 2008, I was with a company where we lost a billion euros in pipeline in a day. That was … Read more
Jill Woodworth, Peloton’s chief financial officer, is leaving the firm. Liz Coddington, an executive at Amazon Web Services, will take her place beginning next week, the company stated on Monday. The transition represents another departure from the highest ranks of the at-home exercise provider. Jill Woodworth, Peloton chief financial officer, is leaving the company and … Read more
The government has been encouraged to put in place the necessary infrastructure to enable the use of technology for small business and enterprise innovation and growth. This was revealed at the Junior Chamber International’s (JCI) Innovative Enterprise Exhibition and Seminar in Lagos. The government has been encouraged to put in place the necessary infrastructure to … Read more
Prime Minister Denys Shmyhal, the Ukrainian government is working on legislation that would declare English as the language of corporate communication. Ukrainian is the country’s single official language. Although English proficiency has improved in the country, which had a population of 44 million before the Russian invasion on February 24. According to Prime Minister Denys … Read more
Gautam Adani’s spectacular journey to the world’s ninth wealthiest person began in the 1990s with a port on India’s west coast. The rest has been spent looking for the next industry to expand his debt-fueled business. The competitor is not Adani’s archrival Mukesh Ambani, the only Indian businessman who is now wealthier than him. Gautam … Read more
A month after the Central Election Commission of Bosnia and Herzegovina announced October 2 as the date for general elections. It has acquired a loan of five million euros to organize the polls — but it may not be enough. The Central Election Commission of Bosnia and Herzegovina said on Monday, more than a month … Read more
BTC-focused investment funds received $125.9 million in inflows in the week ending June 3. $100 million in inflows, implying that fresh money dedicated to bitcoin funds compensated for losses other cryptos (altcoins) Ethereum funds continued their downward trend, recording nine weeks of outflows. Bitcoin (BTC) funds saw inflows for the second week in a row … Read more
