Elon Musk holds up a chainsaw onstage during the Conservative Political Action Conference (CPAC) in National Harbor, Maryland, U.S., February 20, 2025. Nathan Howard | ReutersThe Consumer Financial Protection Bureau’s Trump-appointed leadership plans to fire nearly all its 1,700 employees while “winding down” the agency, according to testimony from employees.In a trove of statements released late Thursday, federal employees said that the mass layoff was discussed in meetings they attended this month with senior CFPB leaders and members of Elon Musk’s so-called Department of Government Efficiency.”My team was directed to assist with terminating the vast majority of CFPB employees as quickly…
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Voya Financial ‘s management team is undertaking a turnaround that seems to be steering the ship in the right direction, according to Morgan Stanley. Morgan Stanley analyst Bob Jian Huang upgraded shares of the New York-based asset manager to overweight from equal-weight, and lifted his 12-month price target 14% to $87 from $76. The moved reversed an August downgrade of Voya to equal-weight from overweight on concerns about the longer-term profitability of Voya’s health solutions business. Shares of Voya have added less than 4% in the past 12 months, but Huang’s updated price forecast implies a potential upside of more…
It has not been a good month for the Nasdaq Composite . The tech-heavy index entered Friday’s session down 5.5% for February. If that decline holds through the end of the day, it will mark the benchmark’s biggest one-month pullback since September 2023 — when it tumbled 5.81%. The S & P 500 and Dow Jones Industrial Average were also on pace for monthly declines. The former is down nearly 3% for the month, while the Dow has slipped 0.4%. Driving a chunk of those losses is the uncertainty around global trade and its effect on economic growth and profits.…
CNBC’s Contessa Brewer reports on news regarding Norwegian Cruise Line. Source link
Kelly Harris of San Jose, leans over to kiss the web cam as she says her goodbye to Brian Johnson, her brother stationed in Japan, at the end of their video phone call via Skype in San Jose, Calif. on Nov. 25, 2009.Lea Suzuki | San Francisco Chronicle | Hearst Newspapers | Getty ImagesSkype is logging off.On Friday, Microsoft announced that the 21-year-old calling and messaging service will shut down May 5. The software company is encouraging Skype users to migrate to its free Teams app.Skype won attention in the 2000s for giving people a way to talk without paying…
People shop in a supermarket in the Manhattan borough of New York City on Feb. 20, 2025.Charly Triballeau | Afp | Getty ImagesInflation eased slightly in January as worries accelerated over President Donald Trump’s tariff plans, according to a Commerce Department report Friday.The personal consumption expenditures price index, the Federal Reserve’s preferred inflation measure, increased 0.3% for the month and showed a 2.5% annual rate.Excluding food and energy, core PCE also rose 0.3% for the month and was at 2.6% annually. Fed officials more closely follow the core measure as a better indicator of longer-term trends. The 12-month core measure…
Check out the companies making headlines before the bell. Nvidia – Shares of the artificial intelligence chip darling fell around 2%, extending its 8.5% loss from the previous session. This comes on the heels of the company seeing a decline in its gross profit margin for the fourth quarter, and its revenue beat for the period being the smallest in two years . China stocks – U.S. shares of Chinese companies declined after China vowed to retaliate , if necessary, against U.S. President Donald Trump’s latest threat to impose an additional 10% tariff on Chinese goods on March 4. E-commerce…
Germany’s national highway system — commonly known as the Autobahn — looks like many other highway systems in the world, except for its most famous feature: long stretches where you are legally permitted, at your own risk, to drive your car as fast as you want.This characteristic has given it a kind of mythical reputation among car enthusiasts the world over. If you love cars, chances are driving the Autobahn as fast as you can is one of the things you want to do before you die.”The Autobahn in many people’s minds is a bucket list item,” said David Tracy,…
Workers go about their job at a granite mine on Feb. 26, 2025 in the Zhytomyr region of Ukraine. Kostiantyn Liberov | Libkos | Getty ImagesUkraine might have turned the tide in its rocky relations with the U.S. by offering President Donald Trump’s administration access to its critical minerals as part of wider peace negotiations, but experts warn that question marks remain around the value and accessibility of such deposits.Ukraine’s President Volodymyr Zelenskyy is set to travel to Washington Friday for a potential signing of a deal with Trump that would see Kyiv and the U.S. jointly develop and monetise Ukraine’s deposits…
People shop and walk in the shopping streets in the city center of Munich, Bavaria, Upper Bavaria, Germany, on February 20, 2025.Michael Nguyen| Nurphoto | Getty ImagesGerman annual inflation came in at an unchanged but higher-than-expected 2.8% in February, provisional data from statistics agency Destatis showed Friday.The print is harmonized across the euro area for comparability. The February print compares to a 2.7% estimate from economists surveyed by Reuters. The January harmonized annual inflation reading had also come in at 2.8%, which was already unchanged from December.On a monthly basis, harmonized inflation rose 0.6%, according to the preliminary data from Destatis.So-called…
