Business

2024-09-30

Prices rise 2.2%, less than expected

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Business

Inflation moved closer to the Federal Reserve’s target in August, easing the way for future interest rate cuts, the Commerce Department reported Friday. The personal consumption expenditures price index, a gauge the Fed focuses on to measure the cost of goods and services in the U.S. economy, rose 0.1% for the month, putting the 12-month inflation rate at 2.2%,…

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2024-09-29

UK PM Keir Starmer touts pro-business agenda as he meets U.S. CEOs

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British PM Keir Starmer speaking on CNBC’s Squawk Box on Sept. 27th, 2024.  CNBC The United Kingdom is pursuing investment from America’s biggest banks and tech giants, as the country looks to infuse growth in its stagnant economy.  “We now have a Labour government whose number one priority is wealth creation,” U.K. Prime Minister Keir Starmer told CNBC’s Andrew…

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2024-09-29

Hands-on with Meta’s Orion augmented-reality smart glasses prototype

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Meta CEO Mark Zuckerberg presents Orion AR Glasses, as he makes a keynote speech during the Meta Connect annual event, at the company’s headquarters in Menlo Park, California, U.S. September 25, 2024.  Manuel Orbegozo | Reuters The most impressive aspect of Meta‘s Orion augmented reality glasses has more to do with size and comfort than flashy computer graphics. CNBC…

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2024-09-29

Shigeru Ishiba wins LDP election, set to become Japan’s next prime minister

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Shigeru Ishiba, Japan’s former defense minister, delivers his campaign speech for the Liberal Democratic Party’s (LDP) presidential election in Tokyo, Japan, on Thursday, Sept. 26, 2024.  Bloomberg | Bloomberg | Getty Images Former defense minister Shigeru Ishiba has won his fifth bid to become the leader of Japan’s ruling party on Friday, lining him up to become the country’s…

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2024-09-28

FDA approves Bristol Myers Squibb’s schizophrenia drug

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Bristol Myers Squibb’s Cobenfy drug Courtesy: Bristol Myers Squibb The Food and Drug Administration on Thursday approved Bristol Myers Squibb‘s highly anticipated schizophrenia drug Cobenfy, the first novel type of treatment for the debilitating, chronic mental disorder in more than seven decades.  Schizophrenia affects how a person thinks, feels and behaves, and can cause paranoia, delusions, hallucinations, and changes…

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2024-09-28

Trump Media shareholder UAV sold nearly 11 million shares

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United Atlantic Ventures, a significant shareholder in Trump Media, has sold nearly 11 million shares in the company, according to a regulatory filing Thursday, weeks after a federal judge cleared the way for the transaction. The move left UAV — an investment partnership of former “Apprentice” contestants Andrew Litinsky and Wes Moss — owning just 100 shares in Trump…

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2024-09-28

The Fed slashed interest rates last week, but Treasury yields are rising. What’s going on?

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Business

Construction work is done around the Federal Reserve building on September 17, 2024 in Washington, DC.  Anna Moneymaker | Getty Images News | Getty Images With its larger-than-normal cut last week, the Federal Reserve sent a clear message that interest rates are heading considerably lower in the future. The Treasury market, though, hasn’t been paying attention. Despite the Fed…

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