Powell says economy’s strength allows Fed to be careful about rate cuts
Federal Reserve Chairman Jerome Powell on Sunday said that the strength of the economy allows the Fed to be “careful” in deciding when to cut interest rates. “With the economy strong…we feel like we can approach the question of when to begin to reduce interest rates carefully,” Powell said, in an interview aired on CBS […]
Studios rethink streaming strategy amid Wall Street profitability push
Bebe Wood, Renee Rapp and Avantika Vandanapu star as The Plastics in the 2024 adaptation of “Mean Girls.” Paramount Paramount is making a habit of greenlighting low- to mid-budget films for its streaming service, only to about-face and send them to theaters first. As the media company and its rivals try to claw their way […]
Voyager’s Starlab space station buys SpaceX Starship launch
An artist’s rendering of the Starlab space station in low Earth orbit. Voyager Space / Starlab Space LLC A contract written in the stars. Private station Starlab will fly on a Starship rocket later this decade to get to orbit, the companies developing both spacecraft announced on Wednesday. Starlab — being built by Voyager Space […]
Stock investors fear ‘no-landing’ economy could spell trouble. What’s next?.
While the U.S. stock market has been pricing in a “soft-landing” scenario for the economy, a blowout January jobs report, relatively strong corporate earnings, and Federal Reserve Jerome Powell’s comments during the past week could point to the possibility of “no landing,” where the economy is resilient while inflation stays target. Such a scenario […]
Macy’s CEO Tony Spring takes over for Jeff Gennette
Tony Spring speaks at an event unveiling the Macy’s new women’s apparel brand, On 34th, in July. Spring is former CEO of Bloomingdale’s and begins as Macy’s CEO in February 2024, succeeding longtime Macy’s CEO Jeff Gennette, right. Melissa Repko | CNBC Inside its headquarters in New York City’s Herald Square, Macy’s got ready to […]
Just in time for the Grammys, here’s a whiskey from country star Chris Stapleton
The bottle Traveller Whiskey, $39.99 The back story It’s the big Grammy Awards weekend. So here at Weekend Sip, that naturally has us thinking about the many artists and groups, from Jennifer Lopez to Lynyrd Skynyrd, with their own brand of booze. Now, you can add another name to the list: Country star Chris Stapleton, […]
McDonald’s launches ‘Best Burger’ ahead of earnings report
A man drinks a coke and eats a Big Mac at a McDonald’s in Cologne, Germany, on May 25, 2015. Oliver Berg | picture alliance | Getty Images McDonald’s has upgraded its burgers — but it’s unclear if its sales will get the same boost. The fast-food giant has outperformed its rivals in recent quarters, […]
How those strong jobs figures could weaken Biden’s re-election prospects
President Joe Biden issued a statement Friday celebrating the latest blowout jobs report. They showed “another month of strong wage gains and employment gains of over 350,000 in January, continuing the strong growth from last year,” it read. But below the surface these latest jobs figures may yet prove unhelpful to the president’s re-election campaign. […]
GSK posts blowout RSV vaccine sales, raises outlook
Company logo of pharmaceutical company GlaxoSmithKline is seen at their Stevenage facility, Britain October 26, 2020. Dado Ruvic | Reuters GlaxoSmithKline on Wednesday lifted its long-term outlook following the smash-hit launch of its new RSV vaccine. The shot targeting the severe and in some cases life-threatening virus booked around £1.2 billion, or $1.5 billion, in […]
Goldman Sachs-backed electricity firm to reach more Americans’ homes
Omar Marques | Lightrocket | Getty Images Goldman Sachs abandoned an ill-fated push into consumer banking in late 2022, but an investment in a Texas energy retailer means its reach into American homes is about to grow. Rhythm Energy, a Houston-based electricity provider overseen and owned by a Goldman Sachs private equity fund, has won […]
