Packages ride on a conveyor belt during Cyber Monday at an Amazon fulfillment center on December 2, 2024 in Orlando, Florida.Miguel J. Rodriguez Carrillo | Getty ImagesAmazon is turning to the startup world to find a potential fix for one of its thorniest logistics problems.Retailers of all sizes have in recent years struggled with an uptick in fraudulent returns. The scam involves shoppers requesting a refund, but instead of returning the merchandise, they keep the item and send back an empty package or a box of unrelated junk.It’s become a costly nuisance for retailers, accounting for $103 billion in losses…
Author: usaeverydaylife
Turkish lira and U.S. dollarResul Kaboglu | NurPhoto via Getty ImagesTurkey’s central bank on Thursday cut its key interest rate by three points points to 43%, returning down the path of monetary easing. The step marked the first rate reduction since April, when the bank hiked rates to 46% in the wake of the controversial arrest of Istanbul Mayor Ekrem Imamoglu, which sent the Turkish lira tumbling.The move also suggests confidence in the monetary policy committee’s work toward tackling inflation, which sat at 35.05% in June but has been steadily decreasing.”The tight monetary policy stance, which will be maintained until…
Wall Street ratings were a mixed bag after Tesla’s second-quarter financial results. Tesla on Wednesday reported a second straight quarter of declining automotive sales , which came in at $16.7 billion for the period, down from $19.9 billion in the same quarter last year. The company also missed on top and bottom lines. Shares of the electric vehicle maker plunged 6% in premarket trading, piling on its roughly 17.7% year to date loss. Tesla has struggled in key markets such as China and Europe and notably lost market share to Chinese companies that have released lower cost EV models. Still,…
Key PointsPrivate investment firms of the ultra wealthy made 375 direct investments in the first half of 2025, a 32% annual drop, according to Fintrix.Family offices are still showing interest in hard assets needed by AI, such as data centers, and are also looking abroad.Family office experts told CNBC that firms have capital they need to deploy but are waiting for clarity around tariffs and geopolitics.A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. Investment…
American Airlines planes on the tarmac at the Miami International Airport on Feb. 19, 2025 in Miami, Florida.Joe Raedle | Getty ImagesAmerican Airlines’ third-quarter profit forecast fell short of expectations as the carrier reinstated its 2025 financial forecast well below its outlook at the start of the year.American on Thursday forecast a 2025 adjusted per-share loss of as much as 20 cents or earnings of as much as 80 cents, down from adjusted earnings estimates of between $1.70 to $2.70 it made in January. American, along with other airlines, pulled its 2025 financial outlook in April as carriers grappled with…
Kit Kat Chunky packaging are seen at a store in Poland on July 15, 2025.Nurphoto | Getty ImagesSwiss food giant Nestle said Thursday that prices for its KitKat bars and Nespresso coffee pods could rise further in the second half of this year, as U.S. tariffs risk exacerbating existing commodity price pressures.CEO Laurent Freixe said that he was “satisfied” with broad price hikes implemented in the first half of the year, but said that company was still considering whether further action would be needed.”Will we need a bit more [pricing action]?” Freixe said on an earnings call in response to…
Elon Musk, during a news conference with President Donald Trump, inside the Oval Office at the White House in Washington on May 30, 2025.Tom Brenner | The Washington Post | Getty ImagesTesla shares fell 6% in premarket trading on Thursday after the company reported a second straight quarter of declining automotive sales.Elon Musk’s electric carmaker reported a top and bottom line miss on second-quarter results, noting that automotive revenue fell 16% year-on-year to $16.7 billion.On an earnings call, Musk said Tesla “probably could have a few rough quarters” ahead as a result of the expiration of federal electric vehicle tax…
Dr. Reddy ‘s Laboratories is betting big on a new wave of growth fueled by a global demand for weight-loss drugs — by launching its own lower-cost version of semaglutide, the blockbuster ingredient behind Wegovy and Ozempic. The Indian pharmaceutical company plans to launch its generic version of the drug in 87 countries by 2026, CEO Erez Israeli said. “This is a very, very important product because it’s becoming more and more as a first-line therapy for type 2 diabetes, as well as for weight loss,” he told CNBC. In 2022, more than 2.5 billion adults globally were overweight, of…
Traders work on the floor of the New York Stock Exchange on July 23, 2025. NYSES&P 500 futures were little changed early Thursday after the White House said that U.S. President Donald Trump will visit the Federal Reserve on Thursday, escalating his pressure campaign against Chairman Jerome Powell.This is the first time in nearly two decades that an American president will be making an official trip to the central bank.Futures tied to the S&P 500 index were flat, while Nasdaq 100 futures were about 0.22% higher. Futures tied to the Dow Jones Industrial Average fell or 0.29%.”Magnificent Seven” megacap stocks Alphabet and Tesla reported…
Tesla car is seen in Krakow, Poland on June 11, 2025.Nurphoto | Nurphoto | Getty ImagesU.S. electric vehicle maker Tesla lost market share in Europe for the sixth straight month in June, according to the European Automobile Manufacturers Association, or ACEA, amid a broader regional dip in new car sales.Data published Thursday by ACEA, an industry lobby group, found that Tesla’s market share in the European Union, Britain and the European Free Trade Association fell to 2.8% in June, from 3.4% last year.Tesla’s new car registrations, meanwhile, declined to 34,781 units in June, down 22.9% from the same month in…
