A measure of wholesale prices rose more than expected in July, countering recent trends showing that inflation pressures are easing.The producer price index, which gauges the costs that goods and services producers receive for their products as opposed to those that consumers pay, rose 0.3% for the month, the...
Jim O'Neill, former chief economist Goldman Sachs Group, in Italy in 2019.Alessia Pierdomenico | Bloomberg via Getty ImagesVeteran economist Jim O'Neill says central banks will need to keep interest rates up around 5% across major economies for longer than the market expects, even as inflation subsides.The U.S. Federal Reserve...
Huawei's production campus is pictured here on April 25, 2019, in Dongguan, near Shenzhen, China.Kevin Frayer | Getty Images News | Getty ImagesBEIJING — Chinese tech giant Huawei on Friday reported 2.2% year-on-year growth in its consumer business revenue for the first half of the year.The modest growth comes...
BEIJING, CHINA - DECEMBER 04: A logo hangs on the building of the Beijing branch of Semiconductor Manufacturing International Corporation (SMIC) on December 4, 2020 in Beijing, China. (Photo by VCG/VCG via Getty Images)Vcg | Visual China Group | Getty ImagesSemiconductor Manufacturing International Corp. posted on Thursday a drop...
An Alibaba Group sign is seen at the World Artificial Intelligence Conference in Shanghai, July 6, 2023.Aly Song | ReutersChinese e-commerce giant Alibaba on Thursday said revenue grew by 14% year on year in the quarter ended June 30. That's the biggest annual increase in sales since the September...
Employees prepare a window display at a Kate Spade store in The Shoppes at Marina Bay Sands shopping mall in Singapore, June 19, 2020.Roslan Rahman | AFP | Getty ImagesCheck out the companies making headlines during midday trading Thursday.Disney — Shares of the media giant jumped 5.3%. Late Wednesday,...
Gas station signboards display prices in Bethesda, Maryland on August 6, 2023.Mandel Ngan | AFP | Getty ImagesThursday's consumer price index report likely will show that the pace of price increases is easing, but not enough to get the Federal Reserve to retreat on its inflation fight.If the Wall...
The consumer price index rose 3.2% from a year ago in July, a sign that inflation has lost at least some of its grip on the U.S. economy.Prices accelerated a seasonally adjusted 0.2% for the month, in line with the Dow Jones estimate, the Bureau of Labor Statistics reported...
A shopper looking at Michael Kors handbags in the Macy's flagship store in New York.Scott Mlyn | CNBCCheck out the companies making headlines before the bell.Capri, Tapestry — Capri soared more than 57%, while Tapestry slid 3.2% in premarket trading. The moves come after luxury company Tapestry, which is...
A young man delivers foodM_a_y_a | E+ | Getty ImagesBritish meal delivery company Deliveroo upgraded its full-year earnings guidance on Thursday after a resilient first half in challenging market conditions that saw its total orders number fall 6%.The company said it expected to make adjusted earnings before interest, tax,...