Aykut Karahan | Istock | Getty Images Shares of Structure Therapeutics rose more than 30% on Friday after the biotech startup’s experimental obesity pill succeeded in a small early-stage trial. The once-daily drug helped overweight or obese participants reduce up to 10 pounds of weight on average after four weeks […]
CNBC News
Citigroup CEO Jane Fraser sees ‘cracks’ emerging among some consumers as savings dry up
Lower-end consumers have shifted buying patterns to save money as their bank accounts dwindle in size, according to Citigroup CEO Jane Fraser. The third-largest U.S. bank by assets has been monitoring its credit card customers for signs of distress, Fraser told CNBC’s Sara Eisen on Friday in an interview. “We […]
A big EV purchase decision that’s not about the car model you buy
Tesla electric car in driveway being charged at a home with an EV charger in residential neighborhood, Moscow, Idaho. Ucg | Universal Images Group | Getty Images As all-electric vehicles become more popular and incentives for renewable energy proliferate, many early EV adopters may be reconsidering their home charging needs. […]
Biden administration moves ahead with new plan to cancel student debt
U.S. President Joe Biden delivers remarks at Prince George’s Community College on September 14, 2023 in Largo, Maryland. Kevin Dietsch | Getty Images The Biden administration announced on Friday the next step in its new plan to cancel people’s student debt after the Supreme Court struck down its original policy […]
Americans say caring for aging parents is more important than saving money to hand down to your children
Ashley Ray was in the midst of purchasing her “dream car” when she got a troubling call from her mother. “I haven’t wanted to worry you, but we’re behind on the mortgage and it’s gonna go into foreclosure next week if we don’t pay,” the TV writer and comedian says […]
UAW announces new strikes at GM and Ford plants, spares Stellantis citing ‘momentum’ in talks
Members of the Writers Guild of America West (WGAW) join striking United Auto Workers (UAW) at a rally in front of the Stellantis Mopar facility on September 26, 2023 in Ontario, California. Gina Ferazzi | Los Angeles Times | Getty Images DETROIT – The United Auto Workers union plans to […]
LVMH boss Bernard Arnault under investigation in Paris over Russian oligarch transactions
Bernard Arnault, Chairman and CEO of LVMH Moet Hennessy Louis Vuitton, attends a news conference to present the 2022 annual results of LVMH in Paris, France, January 26, 2023. Gonzalo Fuentes | Reuters The Paris public prosecutor’s office is investigating LVMH CEO Bernard Arnault over financial transactions involving Russian oligarch […]
State of emergency issued for NYC area as heavy rain, flooding expected to last hours
People walk under umbrellas amid heavy rain on September 29, 2023 in the Flatbush neighborhood of Brooklyn borough New York City. Michael M. Santiago | Getty Images The tri-state was just starting to dry out from the four-day soaker that put a damper on plans last weekend — and now […]
Stagflation is ‘the big bogeyman out there’ — and many increasingly fear its return
Just a few months ago, investors appeared relatively sanguine about the dreaded prospect of stagnant economic activity and rising inflation. Oil prices surging to the brink of $100 per barrel and the specter of higher-for-longer inflation have renewed concern about stagflation risks, however. “I think that the big bogeyman out […]
The Fed’s favorite inflation indicator rose less than expected in August
An economic indicator the Federal Reserve favors as an inflation gauge rose less than expected in August, showing that the central bank’s fight against higher prices is making progress The personal consumption expenditures price index excluding food and energy increased 0.1% for the month, lower than the expected 0.2% gain […]