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
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
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
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
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
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’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 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
Millions of amateur investors got into the stock market during the pandemic — some gingerly, some aggressively, some determined to teach Wall Street bigwigs a lesson — and almost couldn’t help but make money, riding a bull market for the better part of two years .. Now they may have to wrestle with a bear. … Read more
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
