China’s Caixin services PMI bounces back in January
A private gauge of China’s service-sector activity bounced back in January to expansionary territory, signaling a quick economic recovery following Beijing’s removal of its stringent COVID-19 containment regime in December. The Caixin China Services purchasing managers index rose to 52.9 in January from 48.0 in December, said Caixin Media Co. and S&P Global on Friday. […]
I suspect my stepmom removed me as beneficiary from my late father’s life-insurance policy. What can I do?
My dad passed away in March 2019. My stepmom told me I had an inheritance from my dad. She ceased communication with me after my dad passed away. I reached out to the Department of Financial Services website for lost life-insurance policies, and received a letter saying my dad was a participant, but had named […]
Biden economic adviser Deese is stepping down
President Joe Biden on Thursday said Brian Deese, who heads the White House’s National Economic Council, is departing. Biden said in a statement that he’s grateful to Deese’s family “for letting us borrow Brian” and he knows “they’re excited to welcome him home.” Lael Brainard, the vice chair of the Federal Reserve, has emerged as […]
State of the Union: 5 key challenges for Biden as he delivers his speech
President Joe Biden will face no small task on Tuesday night, when he delivers his State of the Union speech after a little more than two years in office.Biden looks poised to tackle the debt-limit standoff, recession worries and acts of violence at home and abroad in his remarks. At the same time, American presidents […]
Las Vegas Grand Prix expected to generate $1.3 billion, double the Super Bowl’s impact
Formula 1’s Las Vegas Grand Prix will have more than double the economic impact of the Super Bowl, according to a recent analysis. The F1 race weekend, slated for Nov. 16-18, is estimated to bring $1.3 billion in spending to the city, according to Applied Analysis. That sum includes a projected $966 million in visitor spending and $316 million in event operations and […]
This trader nailed two big market calls in 2022. She says investors are ‘being paid to wait’ so should steer clear of stocks for 2023.
Ahead of major tech earnings, Meta results are ready to light up the Nasdaq Composite COMP for Thursday. The S&P 500 SPX is also pointing to gains as investors take a glass-half full view of the Fed meeting. Worried that investors are in the clutches of another Fed misread is the founder of LaDucTrading.com, Samantha LaDuc. “The […]
BT pretax profit falls, but backs annual guidance
BT Group PLC said Thursday that nine-month pretax profit fell due to increased depreciation that offset earnings before interest, taxes, depreciation and amortization growth. The U.K. telecommunications company BT.A, +2.58% said revenue for the period to Dec. 31 was 15.59 billion pounds ($19.29 billion) compared with GBP15.68 billion a year earlier as the BT Sport […]
Adani selloff worsens after cancellation of $2.5 billion share sale
Shares of Adani Group companies continued their multi-day plunge Thursday, hours after the Indian conglomerate cancelled an up-to-$2.5 billion share sale amid a record dive in the stock price of its flagship company. Shares of Adani Enterprises 512599, -7.78% were last down 8.8%, a day after the stock fell more than 28% in its biggest […]
Pinterest reportedly lays off about 150 workers
Pinterest Inc. reportedly laid off about 150 workers Wednesday, becoming the latest tech company to cut jobs amid economic worries. Bloomberg News reported the cuts affect less than 5% of Pinterest’s workforce, and came across multiple teams. “We’re making organizational changes to further set us up to deliver against our company priorities and our long-term […]
Meta stock spikes despite earnings miss, as Facebook hits 2 billion users for first time and sales guidance quells fears
Meta Platforms Inc. shares soared in after-hours trading Wednesday despite an earnings miss, as the Facebook parent company guided for potentially more revenue than Wall Street expected in the new year and promised more share repurchases amid cost cuts. Meta META, +2.79% said it hauled in $32.17 billion in fourth-quarter revenue, down from $33.67 billion […]