Tag: business news

  • Virgin Orbit extends unpaid break as deal collapses, talks continue

    NEWQUAY, ENGLAND – JANUARY 09: A general view of Cosmic Girl, a Boeing 747-400 aircraft with the LauncherOne missile under its left wing, as final preparations are made at Cornwall Airport Newquay on January 9, 2023 in Newquay, UK. Virgin Orbit launches its LauncherOne rocket from the spaceport in Cornwall, marking the first-ever orbital launch […]

  • How experts say you can have bank deposits over $250,000 insured

    The collapse of Silicon Valley Bank and Signature Bank continues to prompt scrutiny of FDIC coverage limits, which are generally $250,000 per depositor. On Friday, President Joe Biden said the FDIC could guarantee deposits of more than $250,000 if further instability occurs. However, experts say it is possible to take out more insurance for your […]

  • Alibaba founder Jack Ma returns to China after months abroad

    Alibaba founder Jack Ma has been seen in public in China for the first time in months. The return of the billionaire could indicate that Beijing is softening its stance on the tech sector after an 18-month repression. Cost photo | Future publication | Getty Images Ali Baba founder Jack Ma has been spotted in […]

  • Disney layoffs begin this week, Bob Iger said in a memo

    Bob Iger, CEO, Disney, during CNBC interview, February 9, 2023. Randy Schropshire | CNBC Disney will begin layoffs this week, the first of three rounds for early summer that will result in about 7,000 job cuts, according to a memo from Chief Executive Bob Iger. The cuts are part of a broader effort to reduce […]

  • Chipotle pays workers after closing store that tried to unionize

    Chipotle restaurant in Teterboro, New Jersey. SOPA Images | LightRocket | Getty Images Chipotle Mexican Grill has agreed to pay $240,000 to the former employees of an Augusta, Maine, location as part of a settlement for closing the restaurant when workers tried to unionize. Chipotle restaurant employees petitioned in late June to unite under Chipotle […]

  • First Republic rallies 25% Monday to lead regional banks’ comeback

    Bloomberg News reported Saturday that US officials are considering expanding federal programs that provide banks with liquidity, in part to help First Republic search for a buyer. CNBC reported on Saturday that the inflow of deposits into major banks from the smaller regions has slowed significantly. Regional bank stocks have been under a lot of […]

  • Stocks make the biggest moves premarket: PINS, FCNCA, CAT

    Jim Umpleby, CEO of Caterpillar Inc. Adam Jeffrey | CNBC Check out the companies making headlines before the bell rings. Pinterest — Pinterest gained 4.3% after UBS upgraded its social media stock to buy, saying shares could rise more than 25% as the company improves its advertising strategy. First Citizens BancShares — Stocks rose 40% […]

  • The chairman of the Saudi National Bank resigns just days after Credit Suisse’s comments led to a sell-off

    The chairman of the Saudi National Bank, Ammar al-Khudairy, has resigned. He will be replaced by SNB Managing Director and Group CEO Mohammed al-Ghamdi. Al-Khudairy’s resignation comes days after his comment in mid-March that SNB was unlikely to increase its stake in Credit Suisse, at a time when the European lender was grappling with an […]

  • Bank stress brings US closer to recession

    Recent banking turmoil could push the US closer to recession, Minneapolis Fed president Neel Kashkari said in an interview with CBS’ “Face The Nation.” “What is unclear to us is how much of this banking stress leads to a widespread credit crunch,” he said. “What’s unclear to us is how much of this bank stress […]

  • Morgan Stanley is naming the stock to navigate the current European banking jitters

    In the wake of recent market volatility and sharp price falls, Morgan Stanley warned that the European banking sector “isn’t as attractive as it used to be”. Shares of Deutsche Bank fell on Friday as worries about the stability of European banks continued following the forced takeover of controversial Credit Suisse by its rival UBS. […]