Bank of England to keep rates near 16-year high, but traders bet cuts are coming
The Bank of England on Thursday is expected to follow the European Central Bank last week and the Federal Reserve on Wednesday in leaving interest rates unchanged. The Bank Rate will remain at 5.25%, the highest since March 2008, for the fourth meeting in a row, according to bets in futures markets. Consequently, traders will […]
Boeing (BA) Q4 2023 earnings
A grounded Boeing 737 Max 9 aircraft at Los Angeles International Airport. Eric Thayer | Bloomberg | Getty Images Boeing on Wednesday is set to report fourth-quarter results and answer to investors eager to hear how a midair blowout on one of the plane maker’s new 737 Max 9s could reverberate through the aviation industry […]
Opinion: Nullification of Elon Musk’s $56B pay package could be wakeup call for boards
The ruling by the Delaware chancellor that essentially nullifies Elon Musk’s $55.8 billion pay package could have broader implications on the rest of corporate America. Late Tuesday, Delaware Chancery Court Chancellor Kathaleen McCormick voided the Tesla TSLA, +0.35% chief executive’s pay package, siding with a shareholder plaintiff who had sued the electric-vehicle maker over Musk’s […]
Starbucks (SBUX) Q1 2024 earnings
A Starbucks coffee cup sits on a table at one of the coffee chain’s locations in Miami, Florida, on June 11, 2021. Joe Raedle | Getty Images News | Getty Images Starbucks on Tuesday reported quarterly earnings and revenue that missed Wall Street’s expectations as both domestic and international sales fell short of estimates. CEO […]
Alphabet’s stock dips because advertising was good, but not good enough
Google parent Alphabet Inc.’s stock was tumbling late Tuesday, as a rebound in digital advertising fell short of analysts’ lofty expectations. The search-engine powerhouse reported a jump in fourth-quarter sales, chiefly through advertising, but Alphabet’s shares GOOGL, -1.34% GOOG, -1.16% fell 6.5% in after-hours trading. Total revenue was $86.3 billion, up 13% from $76 billion […]
Vertex non-opioid painkiller shows positive late-stage trial results
A sign hangs in front of the world headquarters of Vertex Pharmaceuticals in Boston on Oct. 23, 2019. Brian Snyder | Reuters Vertex Pharmaceuticals on Tuesday said its experimental painkiller, which is being tested as an alternative to addictive opioids, significantly decreased post-surgery pain in late-stage trials The drug, known as VX-548, did not work […]
GM to release plug-in hybrid vehicles, backtracking on product plans
General Motors reveals the new 2016 Chevrolet Volt to the media at the 2015 North American International Auto Show on January 12, 2015 in Detroit, Michigan. Getty Images DETROIT – General Motors is changing its product lineup strategy to include plug-in hybrid electric vehicles, CEO Mary Barra told investors Tuesday. Barra did not disclose specific […]
Opinion: It’s the ‘woke’ economy, stupid: Progressive U.S. policies empower populists
Progressives around the world are worried. Right-wing populists have won national elections in the Netherlands and Italy and enjoy rising strength in Germany. In the United States, despite indictments on 91 counts in three states and Washington, D.C., former President Donald Trump leads President Joe Biden in the 2024 election polls. Neither Florida Governor Ron DeSantis nor former South Carolina Governor […]
JetBlue Airways (JBLU) earnings Q4 2023
JetBlue Airways swung to a loss in the fourth quarter and forecast lower capacity this year as it scrambles to return to profitability. The airline expects revenue to drop between 5% and 9% in the first three months of the year, more than the 5.5% decline Wall Street analysts were predicting. Capacity in the first […]
General Motors’ stock soars after earnings crush estimates
General Motors Co.’s stock jumped 7.7% early Tuesday, after the auto giant blew past estimates for the fourth quarter and offered upbeat guidance. “Consensus is growing that the U.S. economy, the job market and auto sales will continue to be resilient, and at GM, we expect healthy industry sales of about 16 million units with […]
