“We have to go through a couple of weeks yet of uncertainty,” Dr. Paul Burton, the chief medical officer for Moderna, told CNN’s Paula Reid on Sunday. The raft of unknowns spooked financial markets on Friday, when the Dow plummeted 905 points, or 2.5%, logging its worst day in over […]
Month: November 2021
Black Friday bounces back from 2020. Shoppers are out again
But customers are still dishing out more money for clothing, electronics and other items this Black Friday as they return to visit stores in person and keep up their spending online. Sales on Black Friday increased 29.8% from a year ago, according to estimates through 3 p.m. ET from Mastercard, […]
Germany’s minimum wage is going up by 25% to 12 euros
Three German political parties agreed to form a new government on Wednesday, with left-leaning Social Democrat Olaf Scholz set to succeed Angela Merkel as chancellor following lengthy coalition negotiations. As part of the coalition agreement, the country plans to raise its minimum wage to €12 ($13.46) an hour, from the […]
Premarket stocks: Jay Powell’s second Fed term could be tougher than his first
What’s happening: On Monday morning, Biden formally announced his intent to nominate Powell to a second four-year term, opting for continuity at an uncertain moment. Lael Brainard, Powell’s top rival for the job, will be tapped as vice chair. In the face of a once-in-a-century pandemic, Powell’s first term has […]
CVS had every advantage, but it lost the pandemic. Here’s what happened
Isn’t CVS doing really well right now? Haven’t lots of people gone to drug stores during the pandemic to stock up on hand sanitizer, cleaning wipes and toilet paper? What about all those Covid-19 vaccine shots CVS gives out? Actually, CVS’ closures shouldn’t come as a surprise. They are the […]
Premarket stocks: Macy’s stock, once left for dead, is roaring back to life
What’s happening: Once out of favor as mall closures rose and coronavirus restrictions kept people at home, department stores are finding love again on Wall Street. Kohl’s (KSS) shares popped 11% on Thursday after it reported earnings. The stock has rallied 54% this year. Shares of Dillard’s (DDS) have shot […]
Evergrande debt crisis: Chairman has sold $1.1 billion worth of his personal assets to prop up the company, Chinese state media reports
Xu has sold several houses in Hong Kong, Guangzhou and Shenzhen, as well as some private jets, the state-owned China Business News reported Tuesday, citing anonymous sources close to the matter. The cash, which Xu has been pumping into Evergrande since the beginning of July, has been used to “maintain […]
Beijing Stock Exchange: President Xi Jinping’s pet stock market is here
The bourse was first announced by the Chinese Communist Party leader in September, and is intended to help small and medium-sized enterprises raise capital. The first batch of 81 firms started trading on Monday, including 10 initial public offerings from companies in tech and manufacturing. Shares in those IPOs surged […]
It’s not just Elon Musk: Here’s who else at Tesla has been selling the stock
The dollar value of his sale is dwarfed by his brother Elon’s sale of $5.7 billion worth of Tesla stock from Monday through Thursday this week. But it represented a much larger percentage of his holdings in Tesla (TSLA) — about 15% of Kimbal’s stake in the company. Elon’s stake […]
11.11 Sales: Alibaba’s Singles Day strikes a muted tone as China’s economy slows and a tech crackdown continues
But the tone at this year’s bonanza is a lot more cautious than it has been in prior years, as companies contend with rising inflation in a slowing economy and a regulatory crackdown on their operations. Alibaba (BABA) launched the first Singles Day Shopping Festival on November 11, 2009. The […]