Economy|Biden Invokes Cold War Statute to Boost Critical Mineral Supplyhttps://www.nytimes.com/2022/03/31/business/economy/biden-minerals-defense-production-act.htmlThe action aims to enhance American production of crucial materials for electric vehicles, defense systems and other technologies.Wheel loaders filling trucks with ore at the MP Materials rare earth mine in Mountain Pass, Calif.Credit...Steve Marcus/ReutersMarch 31, 2022Updated 5:17 p.m. ETWASHINGTON — President Biden took steps on…
Posts published in “Finance”
The latest developments on the Russia-Ukraine war:NEW YORK — Goldman Sachs says it is closing its operations in Russia entirely, making it the first major Wall Street bank to do so since Russia invaded Ukraine.Goldman’s announcement comes after Citigroup said it would start winding down its Russia operations. But that process will likely take longer…
LONDON — European markets inched higher on Wednesday as investors assessed the geopolitical outlook following Russia's claimed partial withdrawal from the Ukrainian border, while corporate earnings season rumbles on.The pan-European Stoxx 600 index hovered 0.1% above the flatline by mid-morning, with oil and gas stocks adding 1.2% while telecoms dropped 1.2%.Markets around the world rallied…
Strong consumer demand and pandemic-related supply constraints continued to push up prices in January Some think rising inflation means companies are forced to raise their prices. But as WSJ’s Dion Rabouin explains, it actually works the other way around: Corporations actually drive inflation, and data show that they have been and will continue to push…
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The tech billionaire, who has been on the board of the company formerly known as Facebook since 2005, is backing numerous politicians in the midterm elections.Peter Thiel, a venture capitalist and Meta board member, spoke at the Republican National Convention in July 2016.Credit...Stephen Crowley/The New York TimesFeb. 7, 2022Updated 6:57 p.m. ETPeter Thiel, one of…
New York (CNN Business)Starbucks has been hiking prices as inflation soars and labor costs rise. And it's planning more this year. The coffee chain raised its US prices in October and again just last month in January, CEO Kevin Johnson noted during an analyst call Tuesday. He added that the company is planning even more…
Photo Illustration by Pavlo GoncharSOPA Images | LightRocket | Getty ImagesRobinhood is planning to roll out a feature to let its millions of clients trade stocks well outside of normal market hours."We're also close to delivering a feature that our customers have been asking for: an ever larger window of available trading hours. We call…
U.S. health officials say COVID-19 antibody drugs from Regeneron and Eli Lilly should no longer be used because they are unlikely to work against the omicron variant.The Food and Drug Administration said Monday it is revoking emergency authorization for both drugs. If they prove effective against future variants, the FDA says it can reauthorize their…
U.S. stocks opened lower in what may be another volatile session for investors following the massive swings experienced Monday. The Dow Jones Industrial Average fell over 500 points or 1.6%, while the S&P 500 and Nasdaq Composite lost over 2%. Ticker Security Last Change Change % I:DJI DOW JONES AVERAGES 33704.3 -660.20 -1.92%SP500 S&P 500 4305.5…