U.S. crude futures fell more than 4% on Tuesday, after Israel reportedly told the U.S. that it is not planning to strike Iran’s oil facilities, relieving fears that a major supply disruption in the Middle East is on the horizon. Israel plans to limit its retaliatory strikes in Iran to military targets and does not plan to hit the…
David Solomon, chief executive officer of Goldman Sachs Group Inc., during an interview for an episode of “The David Rubenstein Show: Peer-to-Peer Conversations” in New York, US, on Tuesday, Aug. 6, 2024. Jeenah Moon | Bloomberg | Getty Images Goldman Sachs topped estimates for third-quarter profit and revenue on strong results from its stock trading and investment banking operations….
Warren Buffett walks the floor and meets with Berkshire Hathaway shareholders ahead of their annual meeting in Omaha, Nebraska on May 3rd, 2024. David A. Grogan Warren Buffett’s Berkshire Hathaway continued to increase its stake in SiriusXM, now owning 32% of the New York-based satellite radio company. The Omaha, Nebraska-based conglomerate purchased roughly 3.6 million shares for about $87…
Former President Donald Trump and Vice President Kamala Harris face off in the ABC presidential debate on Sept. 10, 2024. Getty Images With the U.S. election less than a month away, the country and its corporations are staring down two drastically different options. For airlines, banks, electric vehicle makers, health-care companies, media firms, restaurants and tech giants, the outcome…
Boeing 737 MAX airliners are pictured at the company’s factory in Renton, Washington, on Sept. 12, 2024. Stephen Brashear | AP Boeing will cut 10% of its workforce, or about 17,000 people, as the company’s losses mount and a machinist strike that has idled its aircraft factories enters its fifth week. It will also push back the long-delayed launch…
Check out the companies making headlines in midday trading: Tesla — Shares of the electric vehicle maker tumbled nearly 9% after its robotaxi event underwhelmed investors . Morgan Stanley analysts noted that the event “overall disappointed expectations” due to a lack of details in several areas, including how the company is going to compete against ride-sharing companies, such as…
A measure of wholesale prices showed no change in September, pointing to a continued easing in inflation, the Labor Department reported Friday. The producer price index, which measures what producers get for their goods and services, was flat for the month and up 1.8% from a year ago. Economists surveyed by Dow Jones had been looking for a monthly…
JPMorgan Chase CEO and Chairman Jamie Dimon speaks during the U.S. Senate Banking, Housing and Urban Affairs Committee oversight hearing on Wall Street firms, on Capitol Hill in Washington, U.S., December 6, 2023. Evelyn Hockstein | Reuters JPMorgan Chase CEO Jamie Dimon sees risks climbing around the world amid widening conflicts in the Middle East and with Russia’s invasion…
Tesla unveils its “Cybercab” on October 10, 2024 in Burbank, California. Source: Tesla Tesla shares closed down nearly 9% on Friday after the electric vehicle company’s long-awaited robotaxi event failed to impress investors. CEO Elon Musk unveiled the firm’s Cybercab self-driving concept car — a low, silver two-seater, with no steering wheels or pedals — on Thursday night, at the…
JPMorgan Chase posted third-quarter results that topped estimates for profit and revenue as the company generated more interest income than expected. Here’s what the company reported: Earnings: $4.37 a share vs. $4.01 a share LSEG estimate Revenue: $43.32 billion, vs. $41.63 billion estimate JPMorgan said profit fell 2% from a year earlier to $12.9 billion, while revenue climbed 6%…
