Traders on the floor of the NYSE, Feb. 24, 2022. Source: NYSE U.S. stock futures moved lower in overnight trading on Sunday as investors grew concerned about the economic ramifications of the fighting between Russia and Ukraine. Dow futures dropped about 450 points. S&P 500 futures fell 2.3% and Nasdaq […]
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Estee Lauder forces out executive John Demsey after he posted racist meme on Instagram
John Demsey, president of Estee Lauder Cos., speaks at the World Retail Congress in Barcelona, Spain, on Friday, May 8, 2009. Mike Laburu | Bloomberg | Getty Images Cosmetics company Estee Lauder said Monday that it had forced out executive John Demsey, days after he acknowledged he posted a racist […]
Dow sheds 300 points to start the week as U.S., Europe increase sanctions on Russia
U.S. stocks retreated on Monday morning as Russian and Ukraine officials gathered to discuss a potential end to the hostilities between the two sides and the U.S. and its allies increased retaliatory sanctions. The Dow Jones Industrial Average dropped 300 points, or about 0.9%. The S&P 500 fell 0.6% and […]
Ukraine is ‘not ready to surrender or capitulate’ to Russia, foreign minister says
Ukraine has vowed it will not surrender to Russia, as talks are held between delegates from both countries following days of clashes across Ukraine. “Ukraine is ready to continue seeking a diplomatic solution, but Ukraine is not ready to surrender or capitulate,” Foreign Minister Dmytro Kuleba told CNBC’s Hadley Gamble […]
Secret JPMorgan project aims to push bank deeper into growing market serving private companies
JP Morgan CEO Jamie Dimon gives a speech during the inauguration of the new French headquarters of US’ JP Morgan bank on June 29, 2021 in Paris. Michel Euler| AFP | Getty Images JPMorgan Chase is preparing to go all-in on private companies. For the past year, the bank has […]
Dow futures fall nearly 500 points as sanctions slam Russia and leaders meet for talks
U.S. stock futures moved lower early Monday but were off their morning lows as Russian and Ukraine officials gathered to discuss a potential end to the hostilities between the two sides. Dow futures dropped 490 points, or about 1.4%. S&P 500 futures fell 1.6% and Nasdaq 100 futures lost 1.4%. […]
Lordstown Motors expects to produce only 3,000 electric pickups through 2023
Lordstown Motors gave rides in prototypes of its upcoming electric Endurance pickup truck on June 21, 2021 as part of its “Lordstown Week” event. Michael Wayland / CNBC Embattled electric vehicle start-up Lordstown Motors expects to produce and sell up to only 3,000 vehicles through next year, the company announced […]
Biden administration expands sanctions against Russia, cutting off U.S. transactions with central bank
Russian President Vladimir Putin attends a meeting with Russian Defence Minister Sergei Shoigu at the Kremlin, in Moscow on February 14, 2022. Alexei Nikolsky | AFP | Getty Images WASHINGTON — The Biden administration announced additional sanctions against Russia’s central bank on Monday, a move that effectively prohibits Americans from doing […]
Why health-care costs are rising in the U.S. more than anywhere else
Health-care spending is rising around the world, but the U.S. is the worst performer. The United States accounts for more than 40% of all global health spending. Health-care spending made up 5% of total U.S. GDP in 1960. In 2020, spending hit almost 20% of total U.S. GDP. “Health care […]
Dow futures fall more than 300 points as sanctions slam Russia and leaders meet for talks
U.S. stock futures moved lower early Monday but were off their morning lows as Russian and Ukraine officials gathered to discuss a potential end to the hostilities between the two sides. Dow futures dropped 360 points, or nearly 1.1%. S&P 500 futures fell 1.2% and Nasdaq 100 futures lost 1.2%. […]