Latest Economy, Stocks and Business News: Live Updates

Latest Economy, Stocks and Business News: Live Updates

BERLIN — The Biden administration is developing plans to further choke Russia’s oil revenues with the long-term goal of destroying the country’s central role in the global energy economy, current and former US officials say, a major escalatory step that could put the United States in political conflict with China, India, Turkey and other nations … Read more

Deal or no deal, Elon Musk could upend Twitter’s business for a long time

Deal or no deal, Elon Musk could upend Twitter’s business for a long time

Twitter ((TWTR)meanwhile, remains unwavering that the acquisition will go through. In a statement to CNN Business on Tuesday, the company said it intends “to close the transaction and enforce the merger agreement.” Musk’s back-and-forth with the company is widely viewed as him setting the stage to renegotiate the offer price, or else back out of … Read more

Premarket stocks: Retailers just sounded an alarm on inflation. It’s worth heeding

Premarket stocks: Retailers just sounded an alarm on inflation. It’s worth heeding

What’s happening: Inflation is already causing consumers to pull back spending on some items as they look to cut expenses, a shift that will have major consequences for the next phase of America’s recovery from the pandemic, the country’s top chains revealed. Target reported a 52% drop in profit for its most recent quarter, stunning … Read more

US economy could be heading to recession in next year, banks and economists say

US economy could be heading to recession in next year, banks and economists say

Placeholder while article actions load The US economy could be heading for a recession in the next year, according to growing warnings from banks and economists, as a sudden bout of economic pessimism hammers financial markets that had been counting on sustained economic momentum. Although major swaths of the economy — including the job market … Read more

Despite federal efforts to diversify clinical trials, progress remains’stagnant’ — report – Endpoints News

Despite federal efforts to diversify clinical trials, progress remains’stagnant’ — report – Endpoints News

While calls to diversify clinical trials have grown louder in recent years — gaining support from federal agency such as the FDA and NIH — progress has largely stalled, according to a new report from the National Academies of Sciences, Engineering and Medicine. Swaths of patients in racial and ethnic minority groups, as well as … Read more

Walmart and Target Ring the Death Knell of Greedflation

Walmart and Target Ring the Death Knell of Greedflation

It’s hard to believe that it was only last week that the Democrats were expecting to change the narrative over inflation by deflecting blame for rising prices onto greedy corporate price gougers. In a speech on Tuesday of last week, President Joe Biden complained that “corporate executives are on earnings calls with investors on Wall … Read more

Block Investor Day 2022 Talks Bitcoin

Block Investor Day 2022 Talks Bitcoin

Block’s overarching purpose is to drive economic empowerment in the world and Bitcoin plays a central role in that mission, its chief executives said during the firm’s first Investor Day since 2017 on Wednesday. “We believe Bitcoin is going to have a profound impact on financial services, particularly as a tool for economic empowerment and … Read more

Dow Jones Futures Fall After Target Triggers Sell-Off; Market Rally Has 90% Chance Of Doing This

Dow Jones Futures Fall After Target Triggers Sell-Off; Market Rally Has 90% Chance Of Doing This

Dow Jones futures fell overnight, along with S & P 500 futures and Nasdaq futures, amid weak revenue and guidance from Cisco Systems. The stock market rally sold off hard Wednesday, as a big Target (TGT) earnings miss raised major concerns about retailers, related sectors and the broader economy amid hot inflation and weakening demand. … Read more

What Walmart, Target, Home Depot and Lowe’s tell us about the economy

What Walmart, Target, Home Depot and Lowe’s tell us about the economy

Compilation of Target, Walmart, Lowe’s and Home Depot stores. Reuters How well is the American consumer holding up against sky-high inflation? It depends on whom you ask. Four major retailers — Walmart, Target, Home Depot and Lowe’s — reported quarterly financial results this week, and they each offered a different perspective on where and how … Read more