Prices that consumers pay for a variety of goods and services rose more than expected in December, according to a Labor Department measure Thursday that shows inflation still holding a grip on the U.S. economy.The consumer price index increased 0.3% for the month, higher than the 0.2% estimate at...
Ongoing disruption to trade flows through the Red Sea could hit global economic growth, the head of one of the world's largest container shipping firms said Thursday.Maersk CEO Vincent Clerc said it remained unclear whether passage through the waterway would be re-established in "days, weeks or months," in comments...
Check out the companies making headlines before the bell. Citigroup — Shares fell 1% after the bank warned investors on Wednesday night of a possible quarterly loss due to the decline of the Argentine peso and restructuring charges. Citigroup is scheduled to release its fourth-quarter results Friday morning. Lyft...
Sperry Top-Sider Bill fish Tan and Beige.Mayra Beltran | Houston Chronicle | Getty ImagesWolverine World Wide has sold Sperry to brand management firm Authentic Brands Group and Canadian retailer the Aldo Group, the company announced Thursday.The deal will generate $130 million, which Wolverine plans to use to pay down...
Vanishing Turkish Currency: 1 Turkish Lira with the Portrait of Kemal AtatürkTurkishManuel Augusto Moreno | Moment | Getty ImagesThe Turkish lira hit a fresh record low against the U.S. dollar on Thursday, trading at 30.005 to the greenback just before noon local time. It marks the first time that...
Jane Fraser CEO, Citi, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, May 1, 2023.Mike Blake | ReutersCitigroup warned investors late Wednesday that charges tied to the decline of the Argentine peso as well as the bank's reorganization came in far higher than disclosed by...