Shopper turnout hit record high over Black Friday weekend, retail trade group says

cnbc قبل 40 دقيقة

a record number of holiday shoppers turned out from thanksgiving day to cyber monday according to the national retail federation

Elon Musk claims Apple has threatened to remove the Twitter app

cnbc قبل 21 ساعة و 28 دقيقة

musk even tweeted out a meme that suggested he was going to war with apple over paying 30

China might not make major changes to its Covid policy any time soon, despite weekend protests

cnbc 2022-11-28

groups of people in china took to the streets over the weekend to vent their frustration built up over nearly three years of stringent covid controls

Protests against Covid controls erupt across China

cnbc 2022-11-28

rare protests broke out across china over the weekend as groups of people vented their frustration over the zero covid policy

Black Friday online sales top $9 billion in new record

cnbc 2022-11-26

consumers spent a record 9 12 billion online shopping during black friday this year according to adobe

Binance deploys $1 billion to keep crypto industry afloat after FTX collapse

cnbc 2022-11-24

binance said it may increase that amount to 2 billion at a point in time in the future if the need arises

Google has avoided mass layoffs so far, but employees worry their time may be coming

cnbc 2022-11-23

google employees say recent actions taken by executives is leading to increased anxiety that job cuts are on the way

Credit Suisse projects $1.6 billion fourth-quarter loss as it embarks on strategy overhaul

cnbc 2022-11-23

credit suisse on wednesday projected a 1 5 billion swiss franc 1 6 billion fourth quarter loss as it undertakes a massive strategic overhaul

Biden administration will extend student loan debt repayment holiday to June

cnbc 2022-11-22

the biden administration announced that it will extend the payment pause on federal student loans while its forgiveness plan remains blocked in the courts

Collapsed crypto exchange FTX has about $1.24 billion of cash in total — but still owes at least $3.1 billion

cnbc 2022-11-22

alvarez marsal which is advising ftx said teams identified substantially higher cash balances than were initially known

Best Buy sticks to holiday-quarter outlook as electronics demand holds up

cnbc 2022-11-22

best buy raised its full year forecast to reflect its better than expected quarterly results

Bob Iger returns as Disney CEO effective immediately, replacing Bob Chapek after a brief, tumultuous tenure

cnbc 2022-11-21

bob iger is back as ceo of disney bob chapek who replaced iger in 2020 is out after a brutal earnings report that sowed further doubt about his leadership

Inflation forces mom and pop restaurants and big chains to lean on their unique strengths

cnbc 2022-11-20

inflation is hitting the entire restaurant industry but chains and independent eateries have different advantages when it comes to tackling higher costs

After Twitter planned to close offices for the day, Elon Musk asks engineers to come in

cnbc 2022-11-18

in the widely distributed emails sent at the start of business on friday musk called for anyone who actually writes software to report to twitter hq

Home sales fell for the ninth straight month in October, as higher mortgage rates scared off potential buyers

cnbc 2022-11-18

home sales weakened for the ninth straight month in october weighed down by higher mortgage rates

Florida no longer looks like a swing state after DeSantis, Rubio lead big Republican wins

cnbc 2022-11-18

gov ron desantis and former president donald trump call florida home and unlike in most of the country more latino voters in florida voted republican

Amazon is looking to trim headcount through a voluntary buyout program

cnbc 2022-11-17

amazon sent out voluntary severance offers to some employees this week as it looks for ways to rein in costs beyond the massive layoffs already announced

Nvidia revenue falls 17% but data center growth remains strong

cnbc 2022-11-17

nvidia is closely watched by analysts and investors as a leading indicator for the health of the technology industry

Gemini, BlockFi, Genesis announcing new restrictions as FTX contagion spreads

cnbc 2022-11-16

the lending arm of the crypto investment bank genesis global trading is pausing new loan originations and redemptions

Target warns of weak holiday quarter, plans cost cuts as profit tumbles and sales slow

cnbc 2022-11-16

target saw sales decline as families contended with higher prices a potential warning sign for the holiday shopping season

Household debt soars at fastest pace in 15 years as credit card use surges, Fed report says

cnbc 2022-11-15

households increased debt during the third quarter at the fastest pace in 15 years due to hefty increases in credit card usage and mortgage balances

Wholesale prices rose 0.2% in October, less than expected, as inflation eases

cnbc 2022-11-15

the producer price index was expected to show a monthly increase of 0 4 in october according to dow jones estimates

Home Depot posts better-than-expected quarter despite inflation

cnbc 2022-11-15

home depot reported third quarter earnings on tuesday beating analyst expectations

Amazon reportedly plans to lay off about 10,000 employees starting this week

cnbc 2022-11-15

amazon plans to lay off approximately 10 000 employees in corporate and technology roles beginning this week according to a report from the new york times

Washington lobbyists sever ties with FTX founder Sam Bankman-Fried after crypto exchange implodes

cnbc 2022-11-15

former ftx ceo sam bankman fried and his allies are losing key washington gatekeepers as his company collapses

Biden meets Xi amid heightened China-U.S. tensions

cnbc 2022-11-14

u s president joe biden and chinese president xi jinping met monday for the first time in person since biden took office

FTX users appear to be cashing out of bankrupt crypto exchange through a Bahamas loophole

cnbc 2022-11-12

some ftx users appear to have found a way to move money off of the exchange through a back door in the bahamas

From Elon Musk to Sam Bankman-Fried, a bad week for market geniuses, but was it their fault?

cnbc 2022-11-12

elon musk and sam bankman fried may be geniuses but once again the governance risks of talented founders and ceos left unchecked have been laid bare

Disney plans targeted hiring freeze and job cuts, according to a memo from CEO Bob Chapek

cnbc 2022-11-12

we are limiting headcount additions through a targeted hiring freeze disney ceo bob chapek said in a memo obtained by cnbc

Sam Bankman-Fried steps down as FTX CEO as his crypto exchange files for bankruptcy

cnbc 2022-11-11

alameda research and approximately 130 additional affiliated companies are part of the voluntary proceedings

Crypto peaked a year ago — investors have lost more than $2 trillion since

cnbc 2022-11-11

in the 12 months since bitcoin peaked at over 68 000 the crypto trade has unwound sending many coins to zero and hedge funds and lenders into bankruptcy

The global shipping industry is facing a new problem — too many containers

cnbc 2022-11-11

while there was a shortage of containers at the height of the pandemic the global economy is now facing the opposite problem too many containers

China eases Covid measures, trims quarantine time by two days

cnbc 2022-11-11

china reduced the quarantine time for international travelers by two days state media said friday

Elon Musk tells Twitter staff he sold Tesla stock to save the social network

cnbc 2022-11-11

he made the remarks during an all hands meeting that he hosted in part to motivate twitter employees who remain after sweeping layoffs to work hard

Consumer prices rose 0.4% in October, less than expected, as inflation eases

cnbc 2022-11-10

the consumer price index was expected to rise 0 6 from september to october and 7 9 from a year ago according to dow jones estimates

Binance backs out of FTX rescue, leaving the crypto exchange on the brink of collapse

cnbc 2022-11-10

binance is backing out of its plans to acquire ftx the company said wednesday

Elon Musk took over a struggling business with Twitter and has quickly made it worse

cnbc 2022-11-9

elon musk has a lot of work to do to regain the trust of advertisers but he seems more inclined to push them further away

Meta laying off more than 11,000 employees

cnbc 2022-11-9

meta is laying off 13 of its staff or more than 11 000 employees ceo mark zuckerberg told employees on wednesday

Disney misses on profit and key revenue segments, but sees strong streaming growth

cnbc 2022-11-9

disney fell short of expectations for profit and key revenue segments during the fiscal fourth quarter but saw strong streaming growth for its disney platform

Consumer confidence is near its lowest in a decade, and that could be a problem for Biden

cnbc 2022-11-8

anxiety over the cost of living and the direction of the economy could prove costly to president biden and his fellow democrats

Auto loan delinquencies rise as loan-accommodation programs end

cnbc 2022-11-8

subprime borrowers in particular are feeling the impact of higher prices for both new and used vehicles

Homeowners have lost $1.5 trillion in equity since May, as home prices drop

cnbc 2022-11-7

as home prices fall homeowners are losing equity at the fastest pace in over a decade

Consumer confidence in the housing market hits a new low, according to Fannie Mae

cnbc 2022-11-7

rising mortgage rates high home prices and uncertainty in the overall economy have americans feeling more pessimistic about the state of the housing market

Carvana stock tanks in continued sell-off

cnbc 2022-11-7

shares of carvana were briefly halted monday due to volatility down by as much as 24 at one point to below 7 per share its lowest point on record

Lidar makers Ouster and Velodyne agree to merge

cnbc 2022-11-7

lidar makers ouster and velodyne have agreed to merge combining roughly 400 million in market value

Apple warns Covid restrictions in China are hurting iPhone production

cnbc 2022-11-7

the factory operated by foxconn is operating at significantly reduced capacity apple said

Inflation to dampen holiday spending, retail trade group forecasts

cnbc 2022-11-6

the national retail federation said it expects holiday sales to rise between 6 and 8 from last year a decline when factoring in the effect of inflation

Retailers have a new holiday headache — people are spending their money on travel

cnbc 2022-11-5

the peak shopping season will test spending priorities of consumers who are facing high inflation

Twitter sued by employees after mass layoffs begin

cnbc 2022-11-4

the layoffs are commencing just days after tesla and spacex ceo elon musk took control of twitter