Euros, U.S. dollars, Canadian dollars, Russian rubles and Czech korunas lie on a table as banknotes. Picture Alliance | Picture Alliance | Getty Images As inflation loosens its grip in most economies, investors are closely monitoring interest rate decisions, with markets expecting a slew of rate cuts this year. While rates in most economies are … Read more
POLAND – 2023/09/11: In this photo illustration, IBM logo seen displayed on a smartphone with Artifical Intelligence (AI) symbols in the background. Omar Marques | Lightrocket | Getty Images IBM on Tuesday told employees in its marketing and communications division that it’s slashing the size of its staff, according to a person with knowledge of … Read more
IKEA lowers prices on items worldwide. Nurphoto | Nurphoto | Getty Images Swedish home and furniture company Ikea has been cutting prices across a number of countries as global inflation eased, as it boosts its investments in price reductions. The company is further expanding its price cuts in 2024 across all of its markets globally, … Read more
Presumptive Republican presidential nominee Donald Trump opened the door Monday to “cutting” spending under Social Security and Medicare, drawing swift pushback from President Joe Biden and elevating a key policy battle in the 2024 election. Phoning into CNBC’s “Squawk Box,” Trump was pressed on how he plans to resolve the long-term solvency problems of Social … Read more
WASHINGTON ― Former president Donald Trump seemed to suggest he favored cutting retirement programs such as Social Security and Medicare in a rambling answer he gave during a TV interview on Monday. CNBC’s Joe Kernan asked Trump, who has previously said he opposes cutting so-called entitlement spending, if he had changed his outlook given the … Read more
Federal Reserve Chairman Jerome Powell testifies during the Senate Banking, Housing and Urban Affairs Committee hearing titled “The Semiannual Monetary Policy Report to the Congress,” in Dirksen Building on Thursday, March 7, 2024. Tom Williams | Cq-roll Call, Inc. | Getty Images Federal Reserve Chair Jerome Powell on Thursday indicated that interest rate cuts may … Read more
Injection pens of Novo Nordisk’s weight-loss drug Wegovy are shown in this photo illustration in Oslo, Norway, Nov. 21, 2023. Victoria Klesty | Reuters The Food and Drug Administration on Friday approved Novo Nordisk’s blockbuster weight loss drug Wegovy for use in slashing the risk of serious cardiovascular complications in adults with obesity and heart … Read more
Federal Reserve Chair Jerome Powell on Wednesday reiterated that he expects interest rates to start coming down this year, but is not ready yet to say when. In prepared remarks for congressionally mandated appearances on Capitol Hill Wednesday and Thursday, Powell said policymakers remain attentive to the risks that inflation poses and don’t want to … Read more
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Netflix confirms to The Verge that it has begun booting longtime subscribers off their Apple iTunes billing plans, and will require them to pay Netflix directly using a credit card or debit card instead. Earlier today, The Streamable reported that Netflix had begun telling customers in “some territories,” but Netflix representative Momo Zhao confirms to … Read more
Christopher Waller, governor of the US Federal Reserve, during a Fed Listens event in Washington, D.C., on Friday, Sept. 23, 2022. Al Drago | Bloomberg | Getty Images Federal Reserve Governor Christopher Waller said Thursday he will need to see more evidence that inflation is cooling before he is willing to support interest rate cuts. … Read more