Economy

A Carvana glass tower sits illuminated on Feb. 23, 2022, in Oak Brook, Illinois.Armando L. Sanchez | Tribune News Service | Getty ImagesCarvana on Thursday said it expects to achieve positive adjusted earnings during the second quarter of this year — earlier than many anticipated — as the used car retailer executes a restructuring focused… […]

President of the ruling African National Congress and South African President, Cyril Ramaphosa, at a rally in Johannesburg, South Africa, on May 25, 2024. Chris Mcgrath | Getty Images News | Getty Images Some 30 years on from the peaceful transition from apartheid rule to democracy, South Africa could once again be on the cusp […]

OpenAI CEO Sam Altman speaks during the Microsoft Build conference at Microsoft headquarters in Redmond, Washington, on May 21, 2024. Jason Redmond | AFP | Getty Images OpenAI on Tuesday said it created a safety and security committee led by senior executives, after disbanding its previous oversight board in mid-May. The new committee will be […]

LONDON — The Federal Reserve should wait for significant progress on inflation before cutting interest rates, Minneapolis Federal Reserve President Neel Kashkari told CNBC on Tuesday. Asked what conditions were needed for the Fed to cut rates once or twice this year, Kashkari said: “Many more months of positive inflation data, I think, to give me […]

I’ve always been passionate about bringing family and friends together around great food. I’m that person who watches you take a bite to see the reaction on your face. When I was a kid, my grandmother, aunts and cousins would come together to prepare the most delicious meals. I can vividly remember my grandmother lining […]

A trader works as a screen displays the trading information for GameStop on the floor at the New York Stock Exchange on May 15, 2024. Brendan McDermid | Reuters GameStop shares soared Tuesday after the company announced that it had made around $933 million from a stock sale. Shares in the video game retailer were […]

In this photo illustration, the Paramount Global logo is displayed on a smartphone screen.Rafael Henrique | SOPA Images | Lightrocket | Getty ImagesParamount Global fell as more than 28% Thursday after it reported earnings and revenue that missed analyst estimates and cut its quarterly dividend.The stock logged its worst day since Viacom and CBS merged… […]

Traders work on the floor of the New York Stock Exchange on April 26, 2023 in New York City. Michael M. Santiago | Getty ImagesThe rout in regional banks picked up steam again on Thursday morning, with several stocks suffering sizeable losses.PacWest sank 50.6% and was halted for volatility multiple times. The slide began on Wednesday… […]

Lisa Su, CEO, AMDScott Mlyn | CNBCAMD shares rose as much as 12% on Thursday following a media report claiming the chipmaker was working with Microsoft on a new artificial-intelligence processor. AMD stock was up 6% at the end of the day’s trading session.Microsoft’s top competitors in the cloud infrastructure market, Amazon and Alphabet, both… […]

An employee works at Shopify’s headquarters in Ottawa, Ontario, Canada.Chris Wattie | ReutersShopify on Thursday announced it’s cutting 20% of its workforce. The news came as it reported first-quarter earnings that beat analyst estimates on both the top and bottom lines.Shares of Shopify closed up 23% on Thursday.CEO Tobi Lütke announced the job cuts in… […]