Fed will let emergency loan program expire, top official says
The Federal Reserve has no plans to extend an emergency loan program it launched last year to bolster the capacity of the banking system in the wake of the collapse of Silicon Valley Bank. The Bank Term Funding Program will expire on March 11 as it reaches its original one-year time limit, Fed Vice Chair […]
NFL offers buyouts to more than 200 employees
Nick Laham | Getty Images The National Football League offered voluntary buyouts to at least 200 employees as it gears up for start of the playoffs this coming weekend, according to a memo obtained by CNBC. The NFL, which has about 1,100 employees, told staff that it is “continuously evaluating ways to enhance efficiency and […]
Abercrombie and Lululemon report early holiday results
Combination showing store signage from Abercrombie & Fitch and Lululemon stores. Getty Images Abercrombie & Fitch, Lululemon and American Eagle Outfitters all raised their fiscal fourth-quarter outlooks Monday, saying they drew customers looking for holiday gifts and items for themselves in November and December. Yet, Wall Street greeted the news with varying levels of enthusiasm. […]
Bill Ackman opened a wormhole of plagiarism allegations — now his wife is in it
Billionaire hedge-fund manager Bill Ackman led the charge to push out Harvard’s president, Claudine Gay, amid charges of plagiarism. But now the recriminations have boomeranged, with reports that Ackman’s wife may have committed plagiarism in her dissertation. The reports in Business Insider late last week have triggered off a dizzying array of allegations from Ackman, […]
JetBlue CEO Robin Hayes to step down, COO Joanna Geraghty to take over
Robin Hayes, CEO of JetBlue Airways, speaks to guests following the airline’s inaugural flight from John F. Kennedy Airport in New York to London Heathrow Airport in London on Aug. 12, 2021. Chris J. Ratcliffe | Bloomberg | Getty Images JetBlue CEO Robin Hayes will step down next month, the company said Monday. The airline’s […]
Activist investor Elliott takes big stake in Match Group, seeks changes: report
Elliott Investment Management has taken a significant stake in online dating company Match Group Inc., and plans to push for changes to boost its stock, the Wall Street Journal reported Monday night. According to the report, which cited sources familiar with the matter, the activist investor has built a roughly $1 billion stake in Match. […]
Moderna Covid vaccine sales plunge in 2023, but meet company forecast
Nikos Pekiaridis | Lightrocket | Getty Images Moderna on Monday said its Covid vaccine sales plunged by about two-thirds in 2023 to $6.7 billion, as fewer people rolled up their sleeves for an updated version of the jab. The revenue from the shots met Moderna’s forecast for the year, even as sales plummeted from the […]
Samsung Electronics expects profit to plunge in fourth quarter
Samsung Electronics 005930, -1.05% expects its fourth-quarter operating profit to fall 35% from a year earlier, missing market expectations and dampening hopes for an earnings recovery led by its semiconductor business. The world’s largest maker of memory chips, smartphones and televisions said in a preliminary earnings forecast Tuesday that its operating profit is expected at […]
United Airlines’ Boeing 737 Max 9 inspections turn up loose bolts
A United Airlines Boeing 737 Max 9 aircraft lands at San Francisco International Airport in California on March 13, 2019. Justin Sullivan | Getty Images United Airlines said Monday that it has found loose bolts on door plugs of several Boeing 737 Max 9 planes during inspections spurred when a panel of that type blew […]
Investors kick off busy week that could set the tone on stocks, crypto in 2024
Sure, stocks weren’t so sure-footed as they started out of the gate for 2024, but the first full trading week of the new year may be the one that sets a tone across markets for the coming year. After all, the question of whether inflation has been tamed — or whether it will stay tamed […]
