Imaginima | E+ | Getty Images Oil prices jumped following OPEC kingpin Saudi Arabia’s decision to cut production by another million barrels per day. On Sunday, the Organization of the Petroleum Exporting Countries and its partners (known as OPEC+) made no changes to its planned oil production cuts for the rest of the year. However,...
U.S. President Joe Biden addresses the nation on averting default and the Bipartisan Budget Agreement, in the Oval Office of the White House in Washington, D.C., June 2, 2023. Pool | Via Reuters WASHINGTON — President Joe Biden on Friday evening gave his first address from the Oval Office to discuss a bill to lift the...
Elon Musk, CEO of Tesla, speaks with CNBC on May 16th, 2023. David A. Grogan | CNBC The sudden departure of Twitter executives tasked with content moderation and brand safety has left the company more vulnerable than ever to hate speech. On Thursday, Twitter’s vice president of trust and safety, Ella Irwin, resigned from the...
Mark Zuckerberg, chief executive officer of Meta Platforms Inc., left, arrives at federal court in San Jose, California, US, on Tuesday, Dec. 20, 2022. David Paul Morris | Bloomberg | Getty Images Meta employees will need to work from the company’s offices three days a week beginning in September. The social networking giant began notifying...
JP Morgan CEO Jamie Dimon looks on during the inauguration of the new French headquarters of US’ JP Morgan bank on June 29, 2021 in Paris. Michel Euler | AFP | Getty Images JPMorgan Chase CEO Jamie Dimon testified last week that top bank executive Mary Erdoes and the firm’s then-head lawyer had the authority...
Construction on a real estate development project gets underway near the Bund in Shanghai, China, on May 25, 2023. Future Publishing | Future Publishing | Getty Images BEIJING — New data show China’s massive property sector is still struggling to turn around, despite signs of recovery earlier this year. “In a reversal from April, prices...
U.S. President Joe Biden and House Speaker Kevin McCarthy might have reached a deal Sunday to raise the U.S. $31.4 trillion debt ceiling, but a handful of hard-right Republican lawmakers said on Monday they would oppose the deal, in a sign that the bipartisan agreement could face a rocky path through Congress before the U.S....
Turkey’s President and leader of the Justice and Development (AK) Party Recep Tayyip Erdogan delivers a speech during his partys group meeting at the Turkish Grand National Assembly (TGNA) in Ankara, on May 18, 2022. Adem Altan | AFP | Getty Images Turkey’s Election Board on Sunday confirmed that Recep Tayyip Erdogan has won Turkey’s...
China’s pandemic-battered economy is starting to see consumers open their wallets wider, according to KraneShares’ Brendan Ahern. “We’re seeing the incremental rebound from the Chinese consumer,” the firm’s chief investment officer told “ETF Edge” this week. “[But] it’s not like turning on a light switch.” The National Bureau of Statistics of China reports retail sales...
WASHINGTON — Treasury Secretary Janet Yellen said Friday that the United States will likely have enough reserves to push off a potential debt default until June 5. “We now estimate that Treasury will have insufficient resources to satisfy the government’s obligations if Congress has not raised or suspended the debt limit by June 5,” Yellen...