A ‘We’re Hiring!’ sign is displayed at a Starbucks on Hollywood Boulevard on June 23, 2021 in Los Angeles, California. Mario Tama | Getty Images Job creation at private companies tumbled in July as fears mounted over the spreading coronavirus delta variant, payroll processing firm ADP reported Wednesday. Employers added […]
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General Motors misses Wall Street second-quarter earnings expectations, raises 2021 guidance
General Motors missed Wall Street’s earnings expectations for the second-quarter despite a strong profit and raising its guidance for the year. GM’s second-quarter earnings were dragged down due to about $1.3 billion in warranty recall costs, including $800 million related to the Chevrolet Bolt EV. The electric vehicle has been […]
Robinhood surges another 13% a day after jumping past IPO price
Vlad Tenev, co-founder and CEO of Robinhood rings the opening bell at the Nasdaq on July 29th, 2021. Source: The Nasdaq Robinhood shares are jumping in early trading on Wednesday, setting the newly public stock trading app up to extend its 24% rally from the previous session. Shares of Robinhood […]
Yellen says enacting Biden’s agenda is key to keeping U.S. the ‘world’s pre-eminent economic power’
Janet Yellen, U.S. Treasury secretary, arrives at a Eurogroup meeting of European Union (EU) finance ministers in Brussels, Belgium. Bloomberg | Bloomberg | Getty Images Treasury Secretary Janet Yellen will warn on Wednesday that enacting President Joe Biden’s economic agenda is critical to maintaining America’s status as the world’s top […]
Why Nvidia’s $40 billion bid for Arm could be in jeopardy
Jensen Huang, president and CEO of Nvidia, speaks during the Computex Show in Taipei on May 30, 2017. SAM YEH | AFP | Getty Images LONDON — Nvidia’s $40 billion bid to buy U.K.-based chip designer Arm from Japan’s SoftBank has started to look increasingly uncertain in recent weeks. The […]
CVS Health raises forecast for year, tops analyst estimates with strong second-quarter sales
A view outside a CVS Pharmacy store on July 16, 2020 in Miramar, Florida. Johnny Louis | Getty Images CVS Health on Wednesday outpaced analysts’ expectations for second-quarter earnings and raised its forecast for the year, amid rising coronavirus cases in the U.S. and efforts to reenergize the nation’s vaccination […]
Stock futures are little changed following a record-setting day for the S&P 500
U.S. stock futures were little changed in early Wednesday morning trade after the S&P 500 rose to another fresh record during the Tuesday regular session. Dow Jones Industrial Average futures were 20 points lower. S&P 500 futures also sat near the flatline while Nasdaq 100 futures were in mildly positive […]
From Beijing to Wuhan, China orders mass testing and restrictions as Covid cases rise
Residents of Wuhan city in China’s Hubei province queue to take nucleic acid tests for Covid-19 on August 3, 2021. STR | AFP | Getty Images China is facing pockets of resurgence in major cities from Beijing to Wuhan, and authorities have imposed mass testing and widespread travel restrictions in […]
Facing calls to quit, Malaysia’s prime minister says he will prove his legitimacy in parliament
Malaysia’s Prime Minister Muhyiddin Yassin unveils his new cabinet members at the Prime Minister’s Office in Putrajaya on March 9, 2020. Mohd Rasfan | AFP | Getty Images Malaysia’s embattled Prime Minister Muhyiddin Yassin said Wednesday he will put himself through a vote of confidence when parliament reconvenes in September […]
China’s crackdown on housing speculation levels the playing field, major Asian real estate group says
Easy credit is becoming less available in China’s real estate market, but CapitaLand Group’s Andrew Lim says fiscally prudent firms could stand to benefit. “In the current climate where other companies may be more fiscally challenged without access to credit, we’re now in the position to sort of level the […]