With affordability at the top of his domestic agenda for 2026, President Donald Trump unveiled in rapid succession last week a series of proposals aimed at making Americans’ cost of living less, well, costly. He focused on two major burdens — housing and credit card debt. Trump has been on a tear lately, also throwing…
The owner of Saks Fifth Avenue is seeking bankruptcy protection, buffeted by rising competition and the massive debt it took on to buy its rival in the luxury sector, Neiman Marcus, just over a year ago. Saks Global has secured roughly $1.75 billion in financing, the New York company said as filed for Chapter 11…
Price hikes picked up speed for US-based businesses toward the end of last year, a potential signal that inflation has yet to peak and prices could soon rise faster for consumers. US wholesale inflation picked up speed in November, pushed higher in part by fast-rising energy prices, according to shutdown-delayed data released Wednesday. The latest…
The Club’s 10 things to watch Wednesday, Jan. 14 1. The S & P 500 was on track for a lower open this morning as traders digested more bank earnings. This follows a losing session on Wall Street yesterday on JPMorgan ‘s underwhelming quarter. Investment banking fees for the firm’s fourth quarter disappointed investors. Other…
BYD Shenzhen, the world’s largest car transport ship (Source: BYD) In 2025, the world sold 20.7 million EVs – 3.6 million more EVs than it did in the previous year, according to a new report by Rho Motion. That’s a larger increase than last year’s 3.5 million increase, which was also higher than the previous…
In this article C Follow your favorite stocksCREATE FREE ACCOUNT Citigroup on Wednesday posted fourth-quarter results that topped expectations as the lender reaped more interest income and set aside less money for troubled loans than analysts had expected. Here’s what the company reported: Adjusted earnings: $1.81 per share vs. $1.67 expected, according to LSEG Adjusted…
Bloomberg (Bloomberg) — Bank of America Corp.’s equity traders posted their best fourth quarter ever as the company reaped the benefits of volatile markets and net interest income topped analysts’ estimates. Revenue from equity trading rose 23% to $2.02 billion in the final three months of the year, according to a statement Wednesday. Analysts had…
Wholesale prices moved up less than expected while consumers kept up a heavy buying pace in November, according to economic data released Wednesday. The producer price index, a measure of final demand prices that producers get in the marketplace, rose just 0.2% for the month, according to seasonally adjusted figures from the Bureau of Labor…
National Bagel Day is Thursday, January 15, 2026 and there are some tasty deals from multiple restaurants! Keep in mind that these promotions are only valid at participating locations. * Brandwein’s Bagels in Chapel Hill: On January 15, 2026, Brandwein’s Bagels is offering free rainbow mini bagels, prizes, giveaways and more from 6:30 a.m. to 2:30 p.m., according…
LOS ANGELES — A proposed billionaires’ tax in California has ignited a political uproar in Silicon Valley, with tech titans threatening to leave the state while Democratic Gov. Gavin Newsom maneuvers to defeat a levy that he fears will lead to an exodus of wealth. A technology mecca, California has more billionaires than any other…
Gold and silver ended 2025 on a high after record-smashing runs and money managers are betting on the metals hitting new milestones this year as supply constraints, geopolitical tensions, and concerns about central bank independence fuel demand. On Monday, gold hit a record high of more than $4,600 an ounce following news that Jerome Powell,…
A trader work on the floor of the New York Stock Exchange during morning trading on January 06, 2026 in New York City. Michael M. Santiago | Getty Images News | Getty Images U.S. Treasury yields were lower on Wednesday, as markets digested more economic data releases following the December inflation print. The yield on…
Homes in Palm Beach Gardens, Florida, US, on Sunday, Jan. 11, 2026. Zak Bennett | Bloomberg | Getty Images Mortgage demand spiked markedly higher last week as consumers returned from the holidays to find overall lower interest rates and then a sharp rate drop Friday on news from the White House. President Donald Trump posted…
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Photographer: David Paul Morris/Bloomberg (Bloomberg) — Meta Platforms Inc. is beginning to cut more than 1,000 jobs from the company’s Reality Labs division, part of a plan to redirect resources from virtual reality and metaverse products toward AI wearables and phone features. Affected employees will be notified of the layoffs starting Tuesday morning, according to an internal post…
White House officials are heaping blame on DC US Attorney Jeanine Pirro over her office’s criminal investigation into Fed Chair Jerome Powell, faulting her for blindsiding them with an inquiry that has forced the administration into a dayslong damage control campaign, four people familiar with the matter told CNN. The emergence of the criminal probe…
Congratulations to our newest William Blair partners around the globe! This achievement recognizes their exceptional dedication and contributions to the firm while upholding William Blair’s mission, vision, and values to empower colleagues, deliver client success, and engage in our communities. Jamil AliInvestment Banking, Chicago Matthew BatterburyInvestment Banking, London Derek CaracciolaInvestment Banking, New York Matthew ClarkPrivate…
Netflix is readying a revised offer — in all cash — to acquire Warner Bros. Discovery‘s streaming and studios businesses, according to a report by the Wall Street Journal. Under the terms of Netflix’s original agreement, each Warner Bros. Discovery shareholder would receive $23.25 in cash and $4.50 worth of shares of Netflix common stock…
Only higher interest rates can stop the Yen from falling, but that risks a fiscal crisis Against the US Dollar, the Japanese Yen is closing in on the lows it reached in 2024. In trade-weighted terms, the Yen is actually already weaker than it was then, because its current depreciation is against a Dollar that’s…
QINGDAO, CHINA – JANUARY 13, 2026 – The cargo ship is loading and unloading foreign trade containers at Qingdao Port in Qingdao City, Shandong Province, China on January 13, 2026. Cfoto | Future Publishing | Getty Images China’s exports growth in December sharply beat expectations, catapulting the annual trade surplus to a record high, while…
As the Justice Department continues its investigation into the Federal Reserve, the next front in the central bank’s quest to maintain political independence shifts to the Supreme Court. On Jan. 21, the high court will hear arguments related to President Donald Trump‘s efforts to fire Federal Reserve Governor Lisa Cook. Administration officials last year accused…
Netflix is considering an all-cash offer for WBD to give shareholders a quicker and simpler transaction © Dado Ruvic/Reuters Netflix is preparing to amend the terms of its nearly $83bn deal to buy Warner Bros Discovery to make it an all-cash offer, in order to fend off Paramount’s hostile bid and speed up the acquisition’s…
Zoe KleinmanTechnology editor AFP via Getty Images One day the mighty data centre could be toppled into obsolescence by the humble smartphone, said Perplexity CEO Aravind Srinivas on a recent podcast. Speaking to host Prakhar Gupta, the AI chief argued that people will eventually use powerful, personalised AI tools that will be able to run…
Saks Global, the parent company of luxury retailer Saks Fifth Avenue, filed for Chapter 11 bankruptcy protection late Tuesday. The company had struggled with a heavy debt load following its purchase of rival Neiman Marcus in 2024. Saks was in a precarious financial situation before its Neiman merger, and the combination of luxury department stores…
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NASA, along with the U.S. Department of Energy (DOE), announced Tuesday a renewed commitment to their longstanding partnership to support the research and development of a fission surface power system for use on the Moon under the Artemis campaign and future NASA missions to Mars. A recently signed memorandum of understanding between the agencies solidifies…
A longtime Northwest Portland fondue restaurant and its adjacent martini bar will close after 20 years in business, according to a press release. The side-by-side Northwest Glisan Street concepts, Urban Fondue and Bartini, will call it quits in February. The press release blamed the closure on “a declining neighborhood environment, (exorbitant) city taxes and increasingly…
MERIDEN, CT (WFSB) – Two pedestrians were struck by a driver in a Meriden McDonald’s parking Tuesday night, according to police. Meriden police said a 62-year-old woman and a 13-year-old boy were the victims, and that the driver had been backing up. It happened in the restaurant parking lot on East Main Street in Meriden….
Traders work on the floor of the New York Stock Exchange during morning trading on January 14, 2026 in New York City. Michael M. Santiago | Getty Images Stocks fell on Wednesday for a second session, pulling back further from record levels, as traders digested a fresh batch of earnings and monitored geopolitical developments. The…
The US government has given chip giant Nvidia the green light to sell its advanced artificial intelligence (AI) processors in China, the Department of Commerce said on Tuesday. The H200, Nvidia’s second-most-advanced semiconductor, had been restricted by Washington over concerns that it would give China’s technology industry and military an edge over the US. The…
WASHINGTON, Jan 13 (Reuters) – The U.S. government posted a $145 billion budget deficit for December, up 67% or $58 billion from a year earlier due to record outlays that were inflated by calendar shifts in benefit payments and receipts, the Treasury Department said on Tuesday. The report showed that revenue growth from President Donald…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Stocks were mostly lower Tuesday as investors digested the latest consumer inflation data , big bank earnings , and rising geopolitical tensions overseas. The financials were…
Amazon last year agreed to increase the price it paid to some suppliers for tariffed goods in return for guaranteed minimum margins © Miguel J. Rodriguez Carrillo/Getty Images Amazon is seeking to cut what it pays suppliers for goods it sells on its ecommerce platform as the tech giant moves to reverse concessions intended to…