FILE - In this Monday, Aug. 8, 2011, file photo, a statue of former Treasury Secretary Albert Gallatin is seen outside the Treasury Building in Washington. A sea of red ink is confronting the nation and presidents to come. The budget deficit _ the shortfall created when the government spends more in a given year…
Jeff Bezos CEO of Amazon.Joe Klamar | AFP | Getty ImagesThere's an exclusive club on Wall Street and it might let Amazon back in this year.The so-called trillion-dollar club, which includes tech giants Apple, Microsoft and now Google-parent Alphabet, is the group of companies with a market value of $1 trillion or more. Apple has…
U.S. Democratic presidential candidate and former U.S. Vice President Joe Biden.Steve Marcus | ReutersDemocratic presidential candidate Joe Biden wants to get rid of tech's legal shield known as Section 230 of the Communications Decency Act, the former vice president told The New York Times editorial board in an interview published Friday."[I]t should be revoked," for…
Check out the companies making headlines before the bell:Twitter (TWTR) – Twitter was downgraded to "neutral" from "buy" at UBS, which said that Twitter's ongoing investments into safety, security, and ad technology will act as an earnings headwind for 2020.Pinterest (PINS) – Wells Fargo raised its rating on the stock to "overweight" from "equal weight,"…
1. Wall Street set to open with more recordsTraders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., January 10, 2020.Brendan McDermid | ReutersU.S. stock futures were pointing to more records at Friday's open on Wall Street after the Dow Jones Industrial Average, S&P 500 and Nasdaq closed Thursday…
A staggering gender pay gap at one of the U.S.'s top Wall Street banks has prompted the company to readjust the salaries of some of its female employees.Citigroup recorded a 27% shortfall in the average pay of its female employees compared to their male peers for 2019, the bank revealed Thursday.The figure, which is based…
Stocks rose slightly on Friday as Wall Street wrapped up a solid weekly performance that featured record levels amid strong global economic data and a solid start to the earnings season.The Dow Jones Industrial Average closed 50.46 points higher, or 0.2% at 29,348.10. The S&P 500 climbed 0.4% to 3,329.62 while the Nasdaq Composite advanced 0.3% to end at 9,388.94. The…
Economic Community of West African States member countries flags on world map with national bordersGetty ImagesHaving announced the retirement of French colonial currency the CFA franc, the eight countries of the West African Economic and Monetary Union (WAEMU) are hoping to see a new common currency in place this year.However, a speedy launch of the…
BERLIN, GERMANY - FEBRUARY 07: German Chancellor Angela Merkel in the course of a special faction meeting, on February 07, 2018 in Berlin, Germany.Florian GaertnerWhere are we headed? Thousands of politicians and business leaders will address this question as they attend this year's World Economic Forum (WEF) in Davos, Switzerland.Next week's gathering is taking place…
Chinese Vice Premier Liu He shakes hands with US President Donald Trump during a signing ceremony for trade agreement between the US and China in the East Room of the White House in Washington, DC, January 15, 2020.Saul Loeb | AFP | Getty ImagesChina will likely do its part to uphold commitments in the "phase…
A picture taken on January 13, 2020 during a press tour organised by the US-led coalition fighting the remnants of the Islamic State group, shows a view of the damage at Ain al-Asad military airbase housing US and other foreign troops in the western Iraqi province of Anbar.Ayman Henna | AFP | Getty ImagesSeveral U.S.…
Herd boys pull out an ox stuck in muddy waters in the drying Mabwematema dam 20km North of Zvishavane, on December 25, 2019.Zinyange Auntony | AFP | Getty ImagesCountries and regions with lower per capita GDP levels are generally more exposed to climate change, according to McKinsey Global Institute's newest climate risk report."Poorer regions often…
The science is clear that environmental sustainability must factor in a corporation's growth plans, or the capitalist and economic system the U.S. enjoys "will fundamentally be in jeopardy," Microsoft CEO Satya Nadella told CNBC Thursday."The corporation's purpose is to find profitable solutions to the problems of people and planet," he said in a sit down…
Sundar Pichai, senior vice president of Android, Chrome and Apps for Google Inc., speaks during the Google I/O Annual Developers Conference in San Francisco, California.David Paul Morris | Bloomberg | Getty ImagesEven as regulators bear down on the top technology companies and some lawmakers seek to break them up, Big Tech is bigger than ever.On…
Pedestrians pass in front of a GAP store in New York.Scott Mlyn | CNBCGap Inc. has called off plans to split Old Navy into a separate public company, the company announced in a press release Thursday.The apparel maker also announced that Neil Fiske, president and CEO of the Gap brand, is departing.Its shares shot up…
Here are the most important things to know about Friday before you hit the door.1. Earnings season continuesWe'll get earnings from Citizens Financial, Kansas City Southern and J.B. Hunt before the bell on Friday.Sandler O'Neill said it expects Citizens Financial to report earnings per share of 96 cents, in line with consensus estimates. The firm…