The European Central Bank headquarters.Daniel Roland | Afp | Getty ImagesThe European Central Bank ended its run of interest rate hikes on Thursday, despite new upside risks to inflation from oil markets amid the Israel-Hamas war. The key rate is set to remain at a record high of 4%,...
The U.S. economy grew even faster than expected in the third quarter, buoyed by a strong consumer in spite of higher interest rates, ongoing inflation pressures, and a variety of other domestic and global headwinds.Gross domestic product, a measure of all goods and services produced in the U.S., rose...
A Southwest Airlines passenger jet lands at Chicago Midway International Airport in Chicago, Illinois, on December 28, 2022.Kamil Krzaczynski | AFP | Getty ImagesSouthwest Airlines said Thursday it plans to slow its capacity growth next year, citing moderating travel demand as booking patterns shift back to pre-pandemic norms.Southwest will...
Insurtech has had a rocky few years. Several startups in the space raised a lot of money and tried their luck on the public markets, but found that investors were unwilling to grant them valuations on par with other tech companies for just trying to make insurance more efficient. Indeed,...
For the past several decades, platforms for advisors have differentiated themselves by the quality of their technology. The focus on tech was an evolution for the platforms, which originally distinguished themselves by the quality of their proprietary products, the primary way brokerage firms and insurance companies attracted advisors in...
Check out the companies making headlines in premarket trading. Hasbro — The toymaker tumbled 9.2% following a weaker-than-expected financial report for the third quarter. Hasbro earned $1.64 per share excluding items on $1.5 billion in revenue, while analysts polled by LSEG had anticipated $1.70 per share in earnings and...
Some of the SEC rule proposals generating the most withering criticism are among those that would have the biggest impact on financial advisors. But the widespread opposition won’t necessarily influence the SEC to revise them substantially before they become final regulations. Financial industry trade associations, bipartisan lawmakers on Capitol Hill...
CFOTO | Future Publishing | Getty ImagesPfizer on Thursday said its combination vaccine candidates targeting Covid and the flu will move to a final-stage trial in the coming months after showing positive initial results in an early to mid-stage study.That moves the pharmaceutical giant and its German partner BioNTech...
Merck headquarters in Rahway, New Jersey, on Tuesday, April 18, 2023.Christopher Occhicone | Bloomberg | Getty ImagesMerck on Thursday reported third-quarter revenue and adjusted earnings that topped expectations on strong sales of its blockbuster cancer drug Keytruda, HPV vaccine Gardasil and surprisingly, its Covid drug Lagevrio. The pharmaceutical giant also...