NEW YORK (AP) — Wall Street is climbing following some encouraging signals on inflation, but it’s still likely to close September with its worst month of the year so far. The S&P 500 was 0.7% higher shortly after the open of trading on Friday. It’s on track for its first three-day winning streak of the […]
The curtain is finally coming down on Netflix’s once-iconic DVD-by-mail service, a quarter century after two Silicon Valley entrepreneurs came up with a concept that obliterated Blockbuster video stores while providing a springboard into video streaming that has transformed entertainment. The DVD service that has been steadily shrinking in the shadow of Netflix’s video streaming
Peloton and athletic wear maker Lululemon have announced a five-year partnership, effectively closing the curtain on Lululemon’s recently acquired connected fitness device, Mirror. The interactive fitness company steps in to become the exclusive digital fitness content provider for Lululemon, which in turn becomes the primary athletic apparel partner to New York-based Peloton. Vancouver, British Columbia-based
ESSEN, Germany (AP) — For most of this century, Germany racked up one economic success after another, dominating global markets for high-end products like luxury cars and industrial machinery, selling so much to the rest of the world that half the economy ran on exports. Jobs were plentiful, the government’s financial coffers grew as other
Leading Chinese planners voiced confidence on Wednesday in the outlook for the world’s second-largest economy, holding key interest rates steady amid signs of improvement in some areas such as services. The upbeat tone of officials speaking at a news conference in Beijing was in contrast to forecasts by the Asian Development Bank and the Organization
NEW YORK (AP) — Corporate profits may have already hit bottom: After falling for much of the last year, S&P 500 companies are expected to report 0.2% profit growth for the summer. While that sounds anemic, it would be the first quarter of growth in a year, according to FactSet. [wpcc-iframe title=”S&P 500 profit margin”
NEW YORK (AP) — Recent turmoil in the banking industry may have you worried about your money. Shares of PacWest, a small regional bank based in Los Angeles, plunged almost 40% Thursday after the company confirmed it may put itself up for sale. Anxiety over potential bank runs has sent shares of smaller banks tumbling.
The U.S. has approved more than $42 billion in federal student loan debt forgiveness for more than 615,000 borrowers in the past 18 months as part of a program aimed at getting more people to work in public service jobs, the U.S. Department of Education said this week. The Public Service Loan Forgiveness program is
NEW YORK (AP) — As concerns grow over increasingly powerful artificial intelligence systems like ChatGPT, the nation’s financial watchdog says it’s working to ensure that companies follow the law when they’re using AI. Already, automated systems and algorithms help determine credit ratings, loan terms, bank account fees, and other aspects of our financial lives. AI
TOKYO (AP) — Shares in Asia were mostly lower on Wednesday after Wall Street’s ugly September got even worse, with benchmarks dropping back to where they were in June. Tokyo’s Nikkei 225 lost 0.4% to 32,192.94. In Hong Kong, the Hang Seng advanced 0.7% to 17,585.27. The Shanghai Composite index added 0.3% to 3,112.54. In
