Retail giants report earnings, stay away from ‘toxic’ stocks

Retail giants report earnings, stay away from 'toxic' stocks

CNBC’s Jim Cramer said Friday that he’s breathing a sigh of relief as beaten-down stocks ‘have already taken enough hits,’ allowing investors to trade in a safer environment next week – though they still need to tread carefully. “When we’ve been beaten down to these levels, we reach a point where stocks that would normally … Read more

Bel Air mansion flops at auction after being listed at $87.8 million

Bel Air mansion flops at auction after being listed at $87.8 million

An over-the-top modern mansion in Bel Air was listed for $87.8 million for an auction this week. But the highest bid came in just under $45.8 million, according to the home’s seller, dermatologist-turned-developer Alex Khadavi. “Horrible, Horrible, Horrible!” was how Khadavi characterized the auction results to CNBC. He filed for Chapter 11 bankruptcy protection two … Read more

Here’s why inflation may be less costly for some retirees

Here's why inflation may be less costly for some retirees

A shopper at a San Francisco grocery store on May 2, 2022. David Paul Morris | Bloomberg | Getty Images Inflation is a growing concern as Americans spend hundreds more every month. But some retirees may avoid the sting of price hikes for gasoline, groceries and other costs. Annual inflation rose by 8.3% in April, … Read more

Novavax confident Covid vaccine will receive FDA authorization in June after delays

Novavax confident Covid vaccine will receive FDA authorization in June after delays

Novavax is confident its Covid-19 vaccine will receive the endorsement of the Food and Drug Administration’s advisory committee early this summer, executives said this week. The FDA committee is scheduled to meet on June 7 to review Novavax’s submission. An endorsement from the committee, which is made up of independent experts, would mean the drug … Read more

Regulators anxious about stablecoins like tether after UST collapse

Regulators anxious about stablecoins like tether after UST collapse

The entire stablecoin market is now worth more than $160 billion. Justin Tallis | AFP via Getty Images Regulators are getting increasingly worried about stablecoins after the collapse of controversial cryptocurrency venture Terra. TerraUSD, an “algorithmic” stablecoin that’s meant to be pegged one-to-one with the US dollar, has erased much of its value this week … Read more

Elon Musk can’t just walk away from Twitter deal by paying $1 billion

Elon Musk can't just walk away from Twitter deal by paying $1 billion

Musk’s plan to buy Twitter has worried policymakers around the world. Joe Skipper | Reuters Elon Musk can’t just walk away from his deal to acquire Twitter by paying an agreed-upon $1 billion breakup fee. It’s not that simple. Musk Friday tweeted that he has decided to put his acquisition of Twitter “on hold” as … Read more

5 things to know before the stock market opens Friday, May 13

5 things to know before the stock market opens Friday, May 13

Here are the most important news, trends and analysis that investors need to start their trading day: 1. Dow futures pop after the 30-stock average’s six-session losing streak The Twitter logo and trading information is displayed as a trader works on the floor of the New York Stock Exchange (NYSE) in New York City, US, … Read more

Tether (USDT) stablecoin regains peg after $3 billion in withdrawals

Tether (USDT) stablecoin regains peg after $3 billion in withdrawals

Tether has long faced questions over whether it has enough assets to justify its peg to the dollar. Tiffany Hagler | Bloomberg via Getty Images Tether, the world’s largest stablecoin, regained its peg to the dollar after more than $3 billion worth of tokens left the system in a single day. The cryptocurrency — which … Read more

Salesforce will help employees relocate for abortion access

Salesforce will help employees relocate for abortion access

CEO of Salesforce Marc Benioff attends a meeting with US President Joe Biden and private sector CEOs in the State Dining Room of the White House on January 26, 2022 in Washington, DC. Drew Anger | Getty Images Salesforce told employees in a Slack message on Thursday that the company will help them relocate if … Read more

US to boost baby formula imports to ease shortage after Abbott Nutrition recall

US to boost baby formula imports to ease shortage after Abbott Nutrition recall

Baby formula is offered for sale at a big box store on January 13, 2022 in Chicago, Illinois. Scott Olson | Getty Images The US will increase baby formula imports as part of an effort to ease a nationwide shortage, senior Biden administration officials said on Thursday. The scarcity of formula was triggered in part … Read more