H&M shares fall as retailer misses sales expectations; CAC 40 leads advance
H&M shares slumped Friday as the Swedish retail chain missed expectations for sales growth in a quarter in which it said it focused on profitability. H&M stock HM.B, -4.62% dropped 4% in early action, though it has rallied 47% this year. In a brief statement, H&M said fiscal third-quarter sales in local currencies was “flattish,” […]
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United Auto Workers President Shawn Fain greets workers at the Stellantis Sterling Heights Assembly Plant, to mark the beginning of contract negotiations in Sterling Heights, Michigan, U.S. July 12, 2023. Rebecca Cook | Reuters DETROIT – The United Auto Workers union is preparing to conduct unprecedented, targeted strikes against Ford Motor, General Motors and Stellantis […]
UAW strike hits Ford, GM, Stellantis plants
Members of the United Auto Workers union hold a rally and practice picket near a Stellantis plant in Detroit, Aug. 23, 2023. Michael Wayland / CNBC DETROIT – Thousands of members of the United Auto Workers went on strike at three U.S. assembly plants of General Motors, Ford Motor and Stellantis, after the union and the automakers failed to […]
China’s industrial production, consumption improved in August
China’s industrial production and consumption improved in August, while investment continued to lose momentum despite Beijing’s increased efforts to stimulate growth. Industrial production expanded 4.5% from a year earlier in August, up from the 3.7% increase in July, the National Bureau of Statistics said Friday. The result beat the 4.1% growth expected by economists in […]
JPMorgan to offer online payroll services
Co-founders Eddie Kim, Josh Reeves, and Tomer London of fintech startup Gusto, which handles payroll services for small businesses. Courtesy: Kelly Boynton | Gusto JPMorgan Chase is stepping up its appeal to small business customers by planning to offer digital payroll processing, CNBC has learned. The bank has picked San Francisco-based fintech player Gusto to […]
Biden attacks ‘MAGAnomics’ even as polls show Americans aren’t sold on ‘Bidenomics,’ either
President Joe Biden on Thursday delivered what the White House billed as a “major economic address on Bidenomics vs. MAGAnomics,” with the speech coming as polls show most Americans disapprove of his handling of the U.S. economy. “You hear from our friends on the other side, the MAGA Republicans, what’s wrong with America,” Biden said in […]
GM sweetens wage and benefits offer to workers
General Motors CEO Mary Barra talks with reporters following a meeting with lawmakers from Michigan and Ohio at the U.S. Capitol June 05, 2019 in Washington, DC. Chip Somodevilla | Getty Images DETROIT – General Motors is attempting to avoid a looming strike by the United Auto Workers union through a new offer Thursday that […]
Manhattan median rent remains at record high
Manhattan renters may have reached their “affordability threshold” in August, as median rents remained at a record high, according to a new report. The median rent in Manhattan in August was $4,370 a month, unchanged from the record high in July, according to data from brokerage firm Douglas Elliman and the appraisal and research firm […]
Gold prices post modest gain, a day after settling at a 3-week low
Gold posted a gain on Thursday, a day after settling at its lowest price in three weeks, but strength in the U.S. dollar in the wake of an interest-rate hike and statement from the European Central Bank helped to limit the metal’s rise. Investors also looked to some fresh U.S. inflation data for hints on […]
Ford CEO fires back at UAW leader as Thursday strike deadline looms
Ford CEO Jim Farley speaks with media after revealing the 2024 Ford F-150 for the Detroit auto show on Sept. 12, 2023. Michael Wayland / CNBC DETROIT – Ford Motor CEO Jim Farley rebuffed comments by United Auto Workers President Shawn Fain that the company is not taking bargaining seriously ahead of a Thursday night […]
