Hunter Biden, son of U.S. President Joe Biden, is seen as he makes a surprise appearance at a House Oversight Committee markup and meeting to vote on whether to hold Biden in contempt of Congress for failing to respond to a request to testify to the House last month, on […]
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Airline stocks tumble after Delta trims profit forecast
An Airbus A320 passengers aircraft of JetBlue airlines (R) taking-off to Tampa is pictured while an Airbus A319 of Delta airlines is taxiing and two Airbus A319 of American Airlines are parked at La Guardia Airport on January 9, 2024. Charly Triballeau | Afp | Getty Images Delta Air Lines […]
Deflation: Here’s where prices fell in December 2023, in one chart
Extreme-photographer | E+ | Getty Images As inflation continues to throttle back across the broad U.S. economy, some consumer categories have sunk into outright deflation. In other words: Americans are seeing prices decline for certain items. Those pullbacks have largely been among physical goods rather than services, economists said. Demand […]
Bitcoin ETFs have a key difference from their stock fund counterparts
Chesnot | Getty Images The U.S. Securities and Exchange Commission pushed for bitcoin exchange-traded funds to have a key difference from major stock funds, and that decision’s effect on how the funds trade will only become clear over time. The bitcoin funds that launched Thursday are using a share redemption […]
Biden administration to forgive certain student loan borrowers’ balances early
U.S. President Joe Biden speaks at Montgomery County Community College in Blue Bell, Pennsylvania, on Jan. 5, 2024. Mandel Ngan | AFP | Getty Images The Biden administration announced on Friday it would soon begin forgiving the student loans of borrowers who have been in repayment for a decade or […]
Here’s who qualifies for Biden’s early student loan forgiveness
Xavier Lorenzo | Moment | Getty Images One of the major benefits of the Biden administration’s new student loan repayment plan is that it cancels the debt for certain borrowers — those who took out $12,000 or less — after a decade in repayment. Under the old plans, loan forgiveness […]
Citigroup is cutting 10% of its workforce in CEO Jane Fraser’s corporate overhaul
Jane Fraser, Citi, at WEF, Davos, Jan. 17, 2023. Adam Galica | CNBC Citigroup said it was cutting 10% of its workforce in a bid to help boost the embattled bank’s results and stock price. About 20,000 employees will be let go over the “medium term,” New York-based Citigroup said […]
Bill Ackman is creating an activist organization to fight antisemitism, reform higher education
Hedge fund billionaire Bill Ackman, who recently fought a high-profile battle against Harvard University, said Friday that he’s starting an activist organization to fight antisemitism and reform higher education. “It’s going to be a ‘think-and-do tank.’ It’s going to be an activist,” Ackman said in an interview with CNBC’s Andrew Ross […]
Space company Momentus, once valued at more than $1 billion, is running dangerously low on money
An artist’s rendering of a Momentus Vigoride transfer vehicle deploying a satellite in orbit. Momentus Space company Momentus warned shareholders in a securities filing on Friday that the company is running out of money and does not have a financial lifeline. Momentus, once valued at more than $1 billion before […]
Delta more than doubles fourth-quarter profit, but trims 2024 earnings forecast
Delta Air Lines closed out the year by doubling its quarterly profit as travel demand, particularly for international trips, helped drive record revenue in 2023. CEO Ed Bastian said continued strong travel demand could boost earnings this year. Still, the company’s full-year profit outlook was below a previous forecast, and […]