Dr Copper has graded the global economy, and noted: “must do better.” The red metal is wryly considered by commodity watchers to hold a Ph.D in economics, because its use in a range of sectors, including home appliances, power generation and cars, helps it predict the trajectory of global growth. So, copper’s price initial drop …
Mark Zuckerberg has issued a chilling message to Meta Platforms Inc. employees: The company faces one of the “worst downturns that we’ve seen in recent history” that will necessitate a scaling back in hires and resources. The dire economic warning was delivered during an internal videoconference meeting on Thursday for Meta’s META, -0.76% 77,800 workers, …
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Crypto hedge fund Three Arrows Capital has filed for bankruptcy under Chapter 15 of the US Bankruptcy Code, according to a court filing in the Southern District of New York on Friday. Three Arrows Capital is one of the biggest casualties of the latest so-called “crypto winter”. The digital asset ecosystem has been hit by …
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The first half of 2022 marked a big change for investors and consumers, as inflation reared its ugly head. It was the worst start of the year for US stocks since 1970. William Watts looks back at previous first-half bear markets and you might be surprised to see what happened afterward — every time. Meanwhile, …
Weekend reads: What’s ahead for the stock market after that brutal first half of 2022 Read More »
US stocks closed higher Friday, shaking off earlier weakness that came after a disappointing gauge of manufacturing activity underlined fears that aggressive monetary tightening by the Federal Reserve could lead to a sharp slowdown. How did stocks trade? The Dow Jones Industrial Average DJIA rose 321.83 points, or 1%, to close at 31,097.26. The S&P …
The US is gearing up for another wave of COVID-19 infections in the fall and winter following a flurry of activity this week that included putting billions of dollars toward more COVID-19 vaccines and treatments and setting up new rules for how to update the shots . Here’s what happened this week: The Food and …
Paid medical debt is rolling off consumer credit reports in an overhaul that the credit bureaus say will improve people’s financial wellbeing. In a time of rising interest rates and increased costs with the pandemic’s scariest days hopefully done, for some it can’t come a moment too soon. Equifax, Experian and TransUnion are dropping the …
“Bobby Bonilla Day” was trending on Twitter on Friday as it does every year on July 1. That’s because it marks the annual date when the former New York Mets player receives $1.2 million from the team, despite being retired for over a decade. Bonilla’s agent, Dennis Gilbert, orchestrated a contract payout for the third …
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Micron Technology Inc. delivered an outlook that fell far short of the consensus view, prompting questions about how the memory market will fare in a downturn. The company expects August-quarter revenue of $6.8 billion to $7.6 billion, whereas analysts tracked by FactSet had been modeling $9.15 billion. Micron’s chief executive acknowledged that “the industry demand …
There may be another shoe to drop after Micron’s big outlook miss Read More »
By Dean Seal General Motors Co. Warned Friday that second-quarter earnings are poised to fall short of Wall Street expectations as continued supply chain disruptions impact its wholesale volumes. The auto maker said in a regulatory filing that it expects to post a profit of between $1.6 billion and $1.9 billion in the quarter ended …
GM Warns of Earnings Shortfall as Shortages Impact Volumes Read More »