Big banks cut thousands of jobs, more layoffs coming
The largest American banks have been quietly laying off workers all year — and some of the deepest cuts are yet to come. Even as the economy has surprised forecasters with its resilience, lenders have cut headcount or announced plans to do so, with the key exception being JPMorgan Chase, the biggest and most profitable […]
Las Vegas Sands (LVS) reports Q3 earnings and strong Asia growth
Las Vegas Sands‘ recovery from the Covid-19 pandemic is gaining steam, and Asia is a big reason why. The world’s largest casino company on Wednesday announced it pulled in $1.12 billion in third-quarter adjusted property EBITDA, a crucial measure of profitability in the gambling industry. That’s nearing pre-pandemic levels, off just 6% from the same […]
I bought a lake house for $700K. It’s now worth $1.2M. Do I sell to avoid capital gains?
Dear Quentin, My wife and I were fortunate to retire and buy a house for about $700,000 in a growing lake community in 2012. The work-from-home boom of the past few years has increased local housing prices significantly — you can imagine how the ability to do business while sitting on your dock increases housing […]
Billionaires are driving South Florida home prices to new records
From Palm Beach to Miami Beach, luxury home prices in Florida’s richest enclaves are reaching new records as billionaires and millionaires continue to buy up property. The average sale price of a home in Palm Beach topped $20 million in the third quarter, making it far and away the most expensive market in the country, […]
CSX’s results are a mixed bag, amid weaker rail demand and ‘low expectations’
Railroad giant CSX Corp. on Thursday said it expected the subdued shipping trends it saw in the third quarter to continue for the rest of the year, as retailers stay cautious on the items they get shipped to their warehouses and stores. Executives made those remarks to discuss mixed third-quarter results for the company, whose […]
CVS to pull certain cold medicines from store shelves
Cold and flu medicine including NyQuil sit on a store shelf in Miami on Sept. 12, 2023. Joe Raedle | Getty Images CVS is removing some of the most common cough and cold medicines from its store shelves and will no longer sell them, a company spokesperson told CNBC on Thursday. The company’s decision comes […]
Fast fashion brand must clear hurdles before going public
Illustration by Elham Ataeiazar It’s no secret that Shein has ambitions to go public, but the fast-fashion juggernaut will have to overcome a slew of hurdles before it can win over Wall Street. The digitally native retailer skyrocketed to prominence during the Covid-19 pandemic after shoppers across the globe fell in love with its fashion-forward […]
CSX clinches agreement on paid sick leave with Brotherhood of Railroad Signalmen
CSX Corp. has reached an agreement for paid sick leave with the Brotherhood of Railroad Signalmen, the railroad company announced Thursday. The agreement was ratified with the Seaboard Coast Line branch of the union, CSX CSX, -0.11% said in a statement, adding that the agreement covers nearly 400 employees. CSX shares rose 0.8% Thursday, compared with […]
American Airlines (AAL) earnings Q3 2023
American Airlines posted a third-quarter loss on Thursday and trimmed its profit forecast for the year, partly in response to higher fuel prices. The carrier said Thursday it expects to earn between $2.25 and $2.50 a share, on an adjusted basis, for the year, down from an estimate in July of $3 to $3.75 but […]
American Airlines (AAL) earnings Q3 2023
American Airlines posted a third-quarter loss on Thursday and trimmed its profit forecast for the year, partly in response to higher fuel prices. The carrier said Thursday it expects to earn between $2.25 and $2.50 a share, on an adjusted basis, for the year, down from an estimate in July of $3 to $3.75 but […]
