Citigroup at risk of quarterly loss after disclosing charges
Jane Fraser CEO, Citi, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, May 1, 2023. Mike Blake | Reuters Citigroup warned investors late Wednesday that charges tied to the decline of the Argentine peso as well as the bank’s reorganization came in far higher than disclosed by the company’s CFO just […]
Homebuilder Smith Douglas prices IPO at $21 a share, at top of range
Smith Douglas Homes Corp. priced its initial public offering at $21 a share late Wednesday, at the high point of its estimated range. The homebuilder plans to offer 7.69 million shares, raising about $161.5 million. Shares are expected to start trading Thursday on the New York Stock Exchange under the ticker symbol “SDHC.” JPMorgan, BofA […]
SpaceX, T-Mobile send first texts via Starlink satellites
SpaceX founder Elon Musk and T-Mobile CEO Mike Sievert on stage during a T-Mobile and SpaceX joint event in Boca Chica Beach, Texas, on Aug. 25, 2022. Michael Gonzalez | Getty Images SpaceX successfully sent text messages via Starlink satellites using T-Mobile’s network, it announced Wednesday, as Elon Musk’s company aims to bring its direct-to-device […]
Global shipping rates set to surge as carriers avoid Red Sea
The global supply chain is feeling the fallout from Iran-backed Houthi rebels attacking vessels in the Red Sea. Freight prices are set to jump Monday, while longer transit times around Africa are disrupting and delaying deliveries of products. Vessels aren’t able to come back to Asia in time, and ocean carriers are canceling sailings on […]
Opinion: We can tackle climate change, jobs, growth and global trade. What’s stopping us?
“We must leave behind established modes of thinking and seek creative workable solutions.” Another tumultuous year has confirmed that the global economy is at a turning point. We face four big challenges: the climate transition; the good-jobs problem; an economic-development crisis, and the search for a newer, healthier form of globalization. To address each, we […]
The Messenger bets survival on huge ad revenue turnaround
Screenshot of the TheMessenger website. Source: TheMessenger The Messenger, the struggling news media startup co-founded by publishing veteran Jimmy Finkelstein, is urging potential investors to make a long-shot bet on a dramatic rebound in advertising this year. The company is attempting to stop the cash burn that has put it in jeopardy. CNBC has obtained […]
U.S. stocks edge higher in cautious trading ahead of inflation report, bank earnings
U.S. stock indexes were edging higher on Wednesday morning as markets saw cautious trading ahead of the December inflation report on Thursday, which is expected to shed more direct light on when the Federal Reserve could dial bank its two-year-long effort to tighten monetary policy and cool the economy. How are stock indexes trading The […]
What Wall Street wants to see from Hollywood in 2024
Picture Alliance | Picture Alliance | Getty Images It’s the third act of the streaming wars. That’s the time a hero, seemingly beaten and broken, rises up and saves the day. But Wall Street is worried that hero may never come for Hollywood. Legacy media companies including Disney, Warner Bros. Discovery, Comcast and Paramount Global […]
TSMC posts better-than-expected sales signaling semiconductor slump has started to ease
Taiwan Semiconductor Manufacturing Co (TSMC) on Wednesday beat analysts expectations, despite reporting a drop in its revenues, by posting better than expected sales in the final quarter of 2023 amid signs the global slump in the chip market has now reached an end. TSMC 2330, -0.34%, which makes the microchips used in almost all electronic […]
NASA delays crewed Artemis moon missions
The crew members of the Artemis 2 mission of the U.S. space agency NASA, left to right, Reid Wiseman Victor Glover, Christina Koch and Jeremy Hansen, stand at a press event in the ArianeGroup building. Hauke-Christian Dittrich | Picture Alliance | Getty Images NASA is pushing back the schedule for upcoming missions of its flagship […]
