What’s driving Wall Street’s gloomiest interest-rate forecast
UBS economists are not, it should be said, predicting an asteroid to hit the planet. But their view on interest rates is wildly different than the rest of Wall Street and reflects a gloomy forecast for the U.S. economy next year. They expect the federal funds rate, now between 5.25% and 5.5%, to fall all […]
United Airlines tweaks frequent flyer program to reward spending
United Airlines planes at Denver International Airport. Leslie Josephs/CNBC United Airlines plans to make it easier for customers to earn elite status through co-branded Chase credit cards, the latest airline to tweak its lucrative frequent flyer program to reward big spenders. The airline isn’t changing overall requirements for elite frequent flyer status next year, a […]
Australian businesses report slowest price growth since mid-2020
SYDNEY — Australian businesses reported the slowest pace of prices growth in October since July 2020, sending a positive signal that inflation is in retreat. According to the latest monthly survey of business by the National Australia Bank, overall price growth was just 1.0% in quarterly terms, the slowest pace since the early months of […]
Pfizer enters weight loss drug market with Novo Nordisk, Eli Lilly
CFOTO | Future Publishing | Getty Images As its Covid gains evaporate, Pfizer wants a chunk of the budding weight loss drug market. Analysts say upcoming data on Pfizer’s experimental obesity pill, danuglipron, will be crucial in determining how competitive the company can be against the space’s dominant players Eli Lilly and Novo Nordisk. Those […]
Fisker (FSR) earnings report Q3 2023
Fisker began deliveries of its battery-electric Ocean SUV in the second quarter of 2023. Courtesy: Fisker Electric vehicle startup Fisker on Monday reported a third-quarter loss that was wider than Wall Street expected, and said it delivered only about 1,100 Ocean electric SUVs in the third quarter. But, it said, deliveries have accelerated since quarter-end, […]
Fisker’s stock tanks 14% after EV maker widens loss, revenue falls short
Fisker Inc. shares plunged around 14% in the after-hours session Monday after the electric-vehicle maker widened its quarterly loss and reported sales that missed the mark, underscoring the difficulties of turning a profit in the EV world. Fisker FSR, +7.03% lost $91 million, or 27 cents a share, in the third quarter, compared with a […]
Stellantis offers buyouts to roughly half of U.S. salaried workers
Carlos Tavares, CEO of Stellantis, poses during a presentation at the New York International Auto Show in Manhattan, New York, on April 5, 2023. David Dee Delgado | Reuters DETROIT — Chrysler parent Stellantis is offering buyouts to roughly half of its U.S. white-collar employees to reduce headcount and cut costs for the automaker’s North […]
Plug Power’s stock veers between gains and losses as investors seek ‘clarity’
Shares of Plug Power Inc. ended lower on Monday, extending a losing streak to a sixth straight session after the fuel-cell company spooked investors with a going-concern warning, a missed quarter and other ills. The stock weaved in and out of the red Monday, and the gyrations came after Plug Power’s stock PLUG, -1.70% dropped […]
Target closes stores ahead of third quarter earnings report
Target’s store in Harlem is one of nine locations that the retailer recently shuttered. It blamed the closures on high levels of theft and safety risks. Melissa Repko | CNBC In the Harlem neighborhood of New York City, Target‘s first store to open in Manhattan has permanently shut its doors. The retailer has closed eight […]
Dow Jones slips after strong run as inflation data looms
U.S. edged lower early Monday ahead of important inflation data in coming days, while gauging the possibility of a shutdown of the federal government at the end of the week. What’s happening The Dow Jones Industrial Average DJIA was down 42 points, or 0.1%, at 34,242. The S&P 500 SPX fell 19 points, or 0.4%, […]
