China’s central bank kept benchmark loan rates unchanged this month, amid continued downward pressure on the yuan and slowing economic growth. The one-year loan prime rate stood at 3.65% while the five-year rate was 4.3%, both unchanged from last month, the People’s Bank of China said in the statement Monday. The lack of a change
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In a stunning reversal, the Walt Disney Co. DIS, +0.38% announced Sunday night that Chief Executive Bob Chapek was out, and will be replaced by his predecessor, Robert Iger. “We thank Bob Chapek for his service to Disney over his long career, including navigating the company through the unprecedented challenges of the pandemic,” board chair
As discussed previously, Apple (NASDAQ:AAPL) stock has held up very well compared to other FAANG stocks. Unlike other major mega-cap tech stocks, AAPL stock hasn’t been knocked lower by a poorly-received earnings release. In fact, investors responded positively to its most recent quarterly earnings report on Oct 27. In contrast to Amazon (NASDAQ:AMZN), Alphabet (NASDAQ:GOOG,NASDAQ:GOOGL),
Bloomberg Law recently discussed the global mergers and acquisitions (M&A) market. Their analysis pointed out that even though the 2022 M&A volume is down from a record number of transactions in 2021, the potential deals in 2023 could be pretty standard relative to the pre-pandemic volume. “This year’s total M&A deal volume was $3.1 trillion
There’s a good-news, bad-news situation with China-based electric vehicle (EV) manufacturer Nio (NYSE:NIO). The bad news is that some analysts reduced their price targets on NIO stock, and the company’s financial stats have some sore spots. Yet, there are also some highly encouraging data points to consider. Furthermore, potentially positive news from China could benefit Nio
Big tech is taking an ax to its headcount, and Amazon (NASDAQ:AMZN) is no exception. The e-commerce and cloud computing giant recently announced its own round of mass layoffs, downsizing 10,000 corporate and technology positions. So far, this move has had little impact on AMZN stock. AMZN dropped 2.36% on the news, but shares have
High inflation and soaring interest rates have been the main factor behind the double-digit stock downturn so far this year, but alongside these macro factors, many stocks have plunged due to more company-specific issues—for example, corporate scandals. These scandals run the gamut, both in the type of scandal and the severity of the scandal. Categories
Republicans will take over the U.S. House of Representatives two years into President Joe Biden’s term, though their narrow majority looks set to cause headaches for GOP leaders. Republican hopes for a strong red wave have been dashed, but the Associated Press said Wednesday that the party won enough House seats — 218 — to
Beaten-down lidar stocks could provide investors with one of the biggest opportunities of 2023. After all, lidar is an essential piece of the self-driving-auto puzzle. Lidar allows vehicles’ computers to take a 3D image of the area around them. The sensors can then measure the range or speed of objects, bounce lasers off the objects,
Americans are frustrated with inflation and the general direction of the country. Stronger economic growth would help as much as anything, and that requires cultivating a culture of trust and shared purpose among businesses, workers and politicians. COVID accelerated workplace changes and removed several million Americans from the labor force. Workers with skills in demand are resisting employers’ requests to return to
An Ohio city and county plan to put federal pandemic-relief dollars toward erasing residents’ medical debt, helping to chip away at a problem that’s costing consumers nationwide at least $195 billion. The Toledo City Council voted Wednesday to put $800,000 toward eliminating medical debt in the northwest Ohio city through a partnership with RIP Medical
When Gloria Walker wanted to scale back her work in sales and marketing for a retirement community in Falmouth, Maine, she gave her employer more than two years’ notice about her plan. That lengthy lead time gave her company plenty of time to find and train someone to replace her after her 18-year tenure and
After making a double-digit move lower in October, don’t expect things to calm down with Alibaba Group (NYSE:BABA) stock this month. On Nov. 17, the Chinese e-commerce giant will report results for the preceding quarter, ending Sept. 30. In addition, investors will be keeping an eye on Alibaba’s results for “Singles Today,” which was Nov.
Within days of the epic collapse of the crypto trading platform FTX, lawyers from an alphabet soup of U.S. regulatory and investigative agencies were lining up to open probes. Two major questions loom for FTX founder Sam Bankman-Fried: could he possibly face criminal charges in the U.S. and can U.S. government agencies assert jurisdiction over
Coinbase Global (NASDAQ:COIN) is among the best-known platforms where people can buy and sell Bitcoin (BTC-USD) and other cryptocurrencies. However, troubles in the world of crypto have put negative pressure on COIN stock. The end result, though, should be much higher prices for Coinbase shares over the coming years. That’s because more credible exchanges will rise
Students and staff at the University of Virginia were sheltering in place Sunday night as a gunman remained on the loose following a shooting at the college’s Charlottesville campus, which resulted in three fatalities and two more injured. University police said the suspect, identified as Christopher Darnell Jones, should be considered “armed and dangerous” and
Twitter owner and Chief Executive Elon Musk continued to antagonize his critics Sunday, drawing the ire of a powerful senator who sits on the Commerce committee. On Friday, Sen. Ed Markey, D-Mass., tweeted that he was seeking answers from Musk and Twitter after a Washington Post reporter was able to — with Markey’s permission —
Democrats are projected to retain their hold on the U.S. Senate after winning a key race in Nevada, giving President Joe Biden’s party control of at least one chamber of Congress for the next two years. The Associated Press called Nevada’s Senate race for Democratic incumbent Catherine Cortez Masto over Republican challenger Adam Laxalt, giving
The sudden collapse of FTX, the world’s third-largest cryptocurrency exchange, underlines how important it is for any investor to learn about the risks they take when they park their money with a lightly regulated firm. FTX and its affiliate companies filed for bankruptcy Nov. 11. The company’s founder, Sam Bankman-Fried, resigned his position as CEO
After years of astounding growth, Amazon (NASDAQ:AMZN) is currently out of favor among investors. Some traders reacted negatively to Amazon’s third-quarter 2022 earnings report. Others didn’t like to see the e-commerce giant halting some of its hiring activity. Yet, there are reasons to believe that AMZN stock will return to its all-time high and then reach