Category Archives: CNN – Business

Stocks fall as bond yields rise and earnings season gets into full swing

Stocks fall as bond yields rise and earnings season gets into full swing

Wall Street is off to another day in the red at the start of the shortened trading week as investors are grappling with earnings seasons and rising Treasury bond yields. All three major indexes opened lower, with the Dow down 400 points, or 1.1%. The broader S&P 500 dropped 1%, and the Nasdaq Composite slipped…MORE

$388 million funding cut will force the BBC to cancel shows

$388 million funding cut will force the BBC to cancel shows

The BBC has warned that it will be forced to slash services and cancel shows after the UK government froze its main source of funding, resulting in a budget shortfall of roughly $388 million. Tim Davie, director general of the public service broadcaster, told BBC Radio 4 on Tuesday that “everything’s on the agenda” after…MORE

Oil prices will surge to $100 this year, Goldman Sachs warns

Oil prices will surge to $100 this year, Goldman Sachs warns

Goldman Sachs is now calling for oil prices to hit $100 a barrel later this year and continue rising in 2023, signaling higher prices at the pump are on the way. In a Monday evening report to clients, the Wall Street bank backed up its bullish call by citing “robust fundamentals” in the oil market,…MORE

BlackRock cares about money, not ‘woke’ politics

BlackRock cares about money, not ‘woke’ politics

Every year, BlackRock CEO Larry Fink, one of the most powerful people in global finance, pens a letter to chief executives that’s required reading for business leaders. Fink’s insistence that companies need to disclose more about their climate plans and seriously consider their role in society has helped change what’s expected of Corporate America. His…MORE

Goldman Sachs earned nearly $4 billion, but that wasn’t good enough

Goldman Sachs earned nearly $4 billion, but that wasn’t good enough

Goldman Sachs had a phenomenal year. But like many of its competitors on Wall Street, the numbers just weren’t good enough to satisfy fickle investors. The investment banking powerhouse said Tuesday that it earned $3.9 billion in the fourth quarter, or $10.81 a share. But analysts had been forecasting a profit of $4.1 billion, or…MORE

Want to keep your workers? Change your climate policies

Want to keep your workers? Change your climate policies

Climate change policies have become front and center for companies — not only because of ethics and reputation, but also because their employees demand it. More than three-quarters of global executives said climate change policies affect their ability to attract and retain talent, according to Deloitte’s 2022 CxO Sustainability Report. That could be a wake-up…MORE

Peloton is hiking prices because of inflation

Peloton is hiking prices because of inflation

Peloton says inflation and supply chain challenges have forced the company to hike the price of its flagship bike, just five months after cutting it drastically to boost sagging sales. Beginning January 31, customers will be required to pay $250 for delivery and setup for Peloton’s $1,495 bike — a service that the company previously…MORE

Should the government control the price of food and gas?
Robyn Beck/AFP/Getty Images

Should the government control the price of food and gas?

People are paying a lot more for food, gas, cars and services, and inflation isn’t over yet as the pandemic continues to distort the economy. So should governments consider setting the price of essential goods? It’s been done before, typically during times of crisis, but for most mainstream economists, the answer to this question is…MORE

Ex-Cathay Pacific staff arrested in Hong Kong for violating Covid rules
Lam Yik/Reuters

Ex-Cathay Pacific staff arrested in Hong Kong for violating Covid rules

Hong Kong police have arrested and charged two former Cathay Pacific staffers for violating the city’s quarantine rules, underscoring the challenges the city’s flagship airline and its staff face under some of the world’s most restrictive anti-pandemic policies. The government on Monday confirmed the arrests of two former flight attendants, saying that they ran afoul…MORE