Frederic J. Brown | AFP | Getty ImagesCredit card companies are racking up losses at the fastest pace in almost 30 years, outside of the Great Financial Crisis, according to Goldman Sachs.Credit card losses bottomed in September 2021, and while initial increases were likely reversals from stimulus, they have...
UAW President Shawn Fain (center) marches with UAW members through downtown Detroit after a rally in support of United Auto Workers members as they strike the Big Three auto makers on September 15, 2023 in Detroit, Michigan.Bill Pugliano | Getty ImagesDETROIT – Major automakers are calling into question the...
(L-R) Supporter Ryan Sullivan, and United Auto Workers members Chris Sanders-Stone, Casey Miner, Kennedy R. Barbee Sr. and Stephen Brown picket outside the Jeep Plant on September 18, 2023 in Toledo, Ohio.Sarah Rice | Getty ImagesDETROIT – The United Auto Workers is expanding strikes to 38 parts and distribution...
Tom Nides, one of Wall Street and Washington’s most connected executives, is joining Wells Fargo & Co. as vice chairman as the firm continues to work its way past years of scandal. The former U.S. ambassador to Israel will start at Wells Fargo next month and report to Chief Executive...
Rafael Henrique | Lightrocket | Getty ImagesAds are coming to Amazon's Prime Video.The company announced Friday that its streaming service – a part of Prime subscriptions that cost $14.99 a month – will now have limited ads in its TV series and movies. Advertising on Prime Video, known for...
A paramedic prepares doses of AstraZeneca vaccine for patients at a walk-in COVID-19 clinic inside a Buddhist temple in the Smithfield suburb of Sydney on August 4, 2021.Saeed Khan | AFP | Getty ImagesCheck out the companies making headlines in early trading.AstraZeneca — Shares of the British pharmaceutical company...
A McDonald's golden arches logo is seen at a franchise restaurant owned by Rippon Family Restaurants.Paul Weaver | Lightrocket | Getty ImagesMcDonald's franchisees who add new restaurants will soon have to pay higher royalty fees.The fast-food giant is raising those fees from 4% to 5%, starting Jan. 1. It's...
The prospect of U.S. interest rates remaining elevated for longer than expected has sparked a readjustment for investors. This week’s Fed decision to hold its target federal fund rate to a 5.25-5.50% range may be followed by another hike before year-end, but it’s the signal rates may stay above 5%...