Indian Prime Minister Narendra Modi meets with Elon Musk in the U.S. on June 20, 2023.Indian Press Information Bureau | Anadolu Agency | Getty ImagesThis report is from this week’s CNBC’s “Inside India” newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. Like what you see? You can subscribe here.The big storyPresident-elect Donald Trump is less than a week away from being sworn in and has promised a flurry of activity from day one.A key policy — one that worries global investors, yet is also seen as beneficial…
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A host of stocks with earnings on deck next week typically beat Wall Street estimates. Roughly 7% of S & P 500 companies have so far reported fourth-quarter results, collectively notching growth of about 61%. When all is said and done, earnings are forecast to grow by about 12% in the fourth quarter. On Wednesday, banks including JPMorgan Chase , Goldman Sachs and Wells Fargo all beat analysts’ consensus estimates, solidly kicking off earnings season. Against this focus on corporate profits, CNBC Pro used earnings data from Bespoke Investment Group to find stocks that have a history of topping analyst…
Silas Stein | Picture Alliance | Getty ImagesAmerican Express will pay approximately $230 million to resolve a federal criminal wire fraud investigation and settle allegations of deceptive marketing, the company said Thursday.The total includes more than $138 million as part of a non-prosecution agreement with federal prosecutors in Brooklyn, New York, related to allegations that American Express gave customers “inaccurate tax advice” for two wire products.Separately, the banking giant will pay $108.7 million to resolve claims by the Department of Justice’s Civil Division that it deceptively marketed credit cards to small businesses, among other allegations.Read more CNBC politics coverageAmerican Express…
Sam Ragsdale, Ryan Sproule, and Mason Hall have raised $10 million in a seed funding round co-led by Andreessen Horowitz’s crypto fund and Blockchain Capital.Sam RagsdaleInside the Domino Sugar Refinery in Brooklyn, a 19th century landmark perched on the banks of the East River, three engineers have transformed 3,000 square feet of the former factory into a workshop housing their new startup, Merit Systems.Sam Ragsdale, Ryan Sproule and Mason Hall are five months into creating Merit, which they hope will solve a longstanding challenge in software: rewarding open-source developers. On Thursday, Merit announced it’s raised $10 million in a seed…
Danielle Collins thanked a hostile Australian Open crowd for helping to fund her next vacation after beating its last home hope in the women’s draw.Collins beat Destanee Aiava 7-6(4), 4-6, 6-2 to set up a third-round meeting with U.S. compatriot Madison Keys.As the crowd booed her while she took the mic for her post-match interview, she told them that she was thinking of that “big fat pay check” on her way to victory.“Coco and I love a good five-star vacation,” the No. 10 seed said in reference to CoCo Vandeweghe. “So part of that check is going to go towards…
Patients are dying in the corridors of Britain’s hospitals. Pregnant women are receiving miscarriage treatments in semipublic places. Incontinent patients are cleaned next to vending machines.Those are just some of the shocking revelations in a report published on Thursday by the Royal College of Nursing, a British nursing union. In the report, nurses described an overcrowding crisis that they said has led to a collapse in care, confidentiality and dignity across the country’s National Health Service.“Vulnerable people are being stripped of their dignity and nursing staff are being denied access to vital lifesaving equipment,” Nicola Ranger, the general secretary and…
While retail stocks have been struggling for much of the past 12 months, one apparel maker bucked that bearish trend and mounted a significant rally in the fourth quarter: Lululemon Athletica . Our recent review of the charts tells us that, unfortunately, the uptrend phase may be over. Since the end of 2023, the S & P 500 has gained around 24% while the Nasdaq 100 has outperformed slightly with a 26% advance. Both of those returns are far more impressive than those for the SPDR S & P Retail ETF (XRT) , which is currently sitting about 8% in…
Florida State Attorney General Ashley Moody speaks during a press conference as the governor announces that Florida law enforcement will launch a criminal investigation of the apparent assassination attempt on Republican presidential nominee and former U.S. President Donald Trump, in West Palm Beach, Florida, U.S. September 17, 2024. Marco Bello | ReutersFlorida Gov. Ron DeSantis appointed state Attorney General Ashley Moody to the U.S. Senate, setting her up to fill the seat of Sen. Marco Rubio, whom President-elect Donald Trump tapped to be secretary of state.Rubio was selected to serve in Trump’s administration shortly after Trump won the 2024 presidential race, handing DeSantis…
Jakub Porzycki | Nurphoto | Getty ImagesCryptocurrencies jumped on Thursday as investor appetite shifted to smaller, higher risk coins ahead of President-elect Donald Trump’s inauguration.XRP and litecoin were among the biggest movers, up 13% and 22%, respectively, according to Coin Metrics. The CoinDesk 20 index, a broad crypto market benchmark, gained nearly 5%.Meanwhile, bitcoin was up less than 1% near $100,000, following a two-day rally of about 7% this week. Ether fell nearly 3% on Thursday.”Retail investors [are] looking for opportunities as a new pro-crypto administration gets ready to roll in,” Alexander Blume, CEO of the adviser firm Two Prime Digital…
JINJA, Uganda – For the past six months, Armstrong Muhoozi has been putting in work. He lugs his baseball equipment about a mile uphill from his ramshackle home to a rutted, bumpy field at the Masese Co-Education Primary School. Sometimes, the 17-year-old makes this dusty trek twice per day, committed to perfecting his backhand on ground balls, creating separation between his upper and lower half on swings off the tee, and strengthening his already laser-like arm through a regimen of regular drills. He hoofs it to a local gym where, for the equivalent of $1.35 per session, he rotates through…
