Breaking News: Investing

First Solar selects Alabama for new factory as IRA prompots boom

A worker builds frames for solar panels at First Solar in Perrysburg, Ohio July 8, 2022. Megan Jelinger | Reuters First Solar said Wednesday that it has selected Alabama as the site for its fourth US solar panel manufacturing facility, after the Inflation Reduction Act and its incentives for domestic manufacturing encouraged companies to onshore …

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Goldman paid $12 million to settle sexism complaint, Bloomberg reports

Goldman Sachs logo displayed on a smartphone. Omar Marques | SOPA Images | LightRocket via Getty Images Goldman Sachs paid more than $12 million to a former female partner to settle claims that senior executives created a hostile environment for women, Bloomberg reported Tuesday. The former partner alleged that top executives, including CEO David Solomon, …

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Charlie Munger calls the success of Elon Musk’s Tesla a ‘minor miracle’ in the car business

Berkshire Hathaway Vice Chairman Charlie Munger spoke highly of Elon Musk’s electric vehicle company Teslacalling it an amazing feat in the American auto industry. “I was certainly surprised that Tesla did as well as it did,” Munger said in an interview with CNBC’s Becky Quick that aired on “Squawk Box” on Tuesday. “I do not …

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Cathie Wood’s Innovation ETF jumps 13%, on track for its best day ever

Catherine Wood, chief executive officer of ARK Investment Management LLC, participates in a panel discussion during the Milken Institute Global Conference in Beverly Hills, California, May 2, 2022. Lauren Justice | Bloomberg | Getty Images Cathie Wood’s flagship ARK Innovation ETF staged a dramatic relief rally Thursday on the back of an easing inflation reading. …

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Carl Icahn says he still thinks we are in a bear market despite Thursday’s rally

Famed investor Carl Icahn said Thursday’s relief rally didn’t change his negative view on the market, and he believes a recession is still on the horizon. “We keep our portfolio hedged,” Icahn said on CNBC’s “Closing Bell Overtime” Thursday. “I am still very, quite bearish on what is going to happen. A rally like this …

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Wall Street layoffs pick up steam as Citigroup and Barclays cut hundreds of workers

A trader, center, wears a Citigroup jacket while working on the floor of the New York Stock Exchange (NYSE) in New York. Michael Nagle | Bloomberg | Getty Images Global investment banks Citigroup and barclays cut advisory and trading personnel this week as Wall Street grapples with sharp declines in revenue and dimming prospects for …

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Berkshire Hathaway Q3 earnings BRK

Berkshire Hathaway Chairman and CEO Warren Buffett. Andrew Harnik | AP Berkshire Hathaway on Saturday posted a solid gain in operating profits during the third quarter despite rising recession fears, while Warren Buffett kept buying back his stock at a modest pace. The Omaha-based conglomerate’s operating earnings — which encompass profits made from the myriad …

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Wells Fargo mortgage staff brace for layoffs as US loan volumes collapse

Mortgage volumes at Wells Fargo Slowed further in recent weeks, leaving some workers idle and sparking concerns the lender will need to cut more employees as the US housing slump deepens. The bank had about 18,000 loans in its retail origination pipeline in the early weeks of the fourth quarter, according to people with knowledge …

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Series I bond rate is 6.89% through April 2023

Jetcityimage | Istock | Getty Images The US Department of the Treasury on Tuesday announced Series I bonds will pay 6.89% annual interest through April 2023, down from the 9.62% yearly rate offered since May. It’s the third highest rate since I bonds were introduced in 1998, and investors may lock in this rate for …

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JPMorgan Chase unveils payments platform for landlords and tenants

A JPMorgan logo displayed on a smartphone. Omar Marques | SOPA Images | LightRocket via Getty Images JPMorgan Chase is betting that landlords and tenants are finally ready to ditch paper checks and embrace digital payments. The bank is piloting a platform it created for property owners and managers that automates the invoicing and receipt …

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