WASHINGTON – The Federal Reserve on Wednesday lowered its key interest rate by a quarter percentage point, the third consecutive reduction and one that came with a cautionary tone about additional reductions in coming years. In a move widely anticipated by markets, the Federal Open Market Committee cut its overnight borrowing rate to a target
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Makoto Uchida, president and CEO of Nissan Motor, and Toshihiro Mibe, Honda Motor president and CEO, attend their joint press conference in Tokyo, Japan March 15, 2024. Kyodo | Via Reuters DETROIT — Japanese automakers Nissan Motor and Honda Motor reportedly plan to enter into negotiations for a merger to better compete in the rapidly
Traders work on the floor at the New York Stock Exchange on Dec. 10, 2024. Brendan McDermid | Reuters The Dow Jones Industrial Average has been declining for nine straight days, posting its longest losing streak since February 1978. What is going on and how concerned should investors be? First off, let’s explain which stocks are
An app-based delivery worker waits outside of a restaurant in New York City on July 7, 2023. Spencer Platt | Getty Images Grubhub will pay $25 million to settle a lawsuit from the Federal Trade Commission and Illinois Attorney General Kwame Raoul over alleged unlawful practices that harmed diners, workers and small businesses, the FTC
Treasury Secretary Janet Yellen following a tour of the Financial Crimes Enforcement Network (FinCEN) in Vienna, Virginia, on Jan. 8, 2024. Valerie Plesch/Bloomberg via Getty Images Small businesses and their owners could face penalties of $10,000 or more if they don’t comply with a new U.S. Treasury Department reporting requirement by year’s end — and
Chicago Sky coach Teresa Weatherspoon calls out to players during the first half of the team’s WNBA basketball game against the New York Liberty, May 23, 2024, in New York. Frank Franklin II | AP Startup basketball league Unrivaled announced on Monday it’s closed a Series A funding round, raising an additional $28 million before
Michael Saylor, chairman and CEO of MicroStrategy, speaks during the Bitcoin 2022 conference in Miami on April 7, 2022. Eva Marie Uzcategui | Bloomberg | Getty Images Shares of MicroStrategy were higher Monday after Nasdaq announced the bitcoin proxy will join the tech-heavy Nasdaq-100 index. The stock was last higher by more than 3%. Nasdaq
President and CEO of Warner Bros. Discovery David Zaslav arrives for the world premiere of “The Flash” at Ovation Hollywood in Hollywood, California, on June 12, 2023. Michael Tran | Afp | Getty Images Warner Bros. Discovery on Thursday announced a restructuring plan to segment its business into linear and streaming units in a move
Peter Kramer/NBC via Getty Images U.S. consumers would likely see prices increase if President-elect Donald Trump follows through with a plan to levy import tariffs, experts said Tuesday during CNBC’s Financial Advisor Summit. “Either way, there is a cost to consumers,” said Erica York, senior economist at the Tax Foundation. A tariff is a tax
Andrew Witty, CEO of UnitedHealth Group, testifies during the Senate Finance Committee hearing titled “Hacking America’s Health Care: Assessing the Change Healthcare Cyber Attack and What’s Next,” in the Dirksen Building in Washington, D.C., on May 1, 2024. Tom Williams | Cq-roll Call, Inc. | Getty Images UnitedHealth Group CEO Andrew Witty on Friday mourned
Flushing Bank in New York City. Google Earth Flushing Financial, a New York-based commercial real estate lender, is seeking to raise $70 million to shore up its capital, CNBC has learned. The bank’s CEO, John Buran, has told potential investors that he intends to sell low-yielding bonds and loans backed by commercial real estate, including
Passengers deplane through the business class seating area on an American Airlines flight, London Heathrow Airport, Aug. 14, 2018. Jeff Greenberg | Universal Images Group | Getty Images Cheap seats aren’t enough for airline passengers anymore. Since the pandemic, travelers have shown airlines that they’re willing to pay up to sit at the relatively spacious
Invesco launched an exchange-traded fund designed to give investors exposure to the top 45% of companies in the Nasdaq-100 Index. Brian Hartigan, the firm’s global head of ETFs and index instruments, runs Invesco QQQ Trust (QQQ), which is the fifth-largest ETF in the world, according to VettaFi. Now Hartigan is taking on the Invesco Top
Major League Baseball super agent Scott Boras just negotiated the biggest contract of his life. On Thursday, the New York Mets signed four-time All-Star Juan Soto to a record-breaking $765 million, 15-year contract. It is the largest deal in professional sports history. Soto will be the first player in the MLB to earn more than
Goran Babic | E+ | Getty Images Building a $1 million nest egg may seem an impossible feat. However, amassing such retirement wealth is within reach for almost anyone — provided they take certain steps, financial advisors say. “You might think that, ‘Well, I have to become a Silicon Valley entrepreneur to become rich,'” said
A “location closed” sign hangs in the window of a closed Red Lobster restaurant in Torrance, California on May 14, 2024. Patrick T. Fallon | AFP | Getty Images A rocky year for restaurants separated the industry’s biggest chains into winners and losers, as eateries competed for a smaller pool of customers who have grown
– The Thalians hosted their annual Holiday Party Luncheon at the newly built Bel-Air Country Club on Saturday, December 7, 2024 in Los Angeles. The event was a resounding success, bringing together board members, Thalians President Club Members, UCLA Operation Mend attendees, distinguished guests, and supporters to celebrate the holiday season and contribute to a
Rohit Chopra, director of the CFPB, testifies during a House Financial Services Committee hearing on June 14, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images The Consumer Financial Protection Bureau on Thursday announced the final version of a rule limiting banks’ ability to charge overdraft fees. It says the rule will save American