An escalation of trade and tariffs tensions between the U.S. and China would have “costly” economic consequences around the world, Gita Gopinath, deputy managing director of the International Monetary Fund told CNBC on Wednesday.”We are seeing geopolitically driven trade around the world, which is why when you look at overall trade to GDP that’s holding up fine, but who’s trading with whom is certainly changing,” she said.The U.S. and China are trading with one another less, and some parts of their trade is being re-routed through other countries, she added.Trade tensions between the U.S. and China and the European Union…
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Apple CEO Tim Cook introduces the Apple Card during a launch event at Apple headquarters in Cupertino, California, on March 25, 2019.Noah Berger | AFP | Getty ImagesThe Consumer Financial Protection Bureau ordered Apple and Goldman Sachs on Wednesday to pay more than $89 million for mishandling consumer disputes related to Apple Card transactions.The bureau said Apple failed to send tens of thousands of consumer disputes to Goldman Sachs. Even when Goldman Sachs did receive disputes, the CFPB said the bank did not follow federal requirements when investigating the cases.Goldman Sachs was ordered to pay a $45 million civil penalty and…
Coca-Cola President and CEO James Quincey attends a press conference with International Olympic Committee (IOC) president and China Mengniu Dairy CEO and Executive Director, as part of the 134th Session of the International Olympic Committee (IOC) at the SwissTech Convention Centre in Lausanne, on June 24, 2019.Fabrice Coffrini | AFP | Getty ImagesCoca-Cola CEO James Quincey said the company doesn’t expect an E. coli outbreak linked to McDonald’s to hurt the beverage company’s sales.”When one looks at what’s in the media so far, in terms of the states that have been affected, I would say at this stage it’s not…
Akamai Technologies (AKAM) is uniquely positioned to benefit from the rising demand for artificial intelligence, leveraging its CDN edge server network to deliver low-latency, secure AI solutions. As industries increasingly rely on real-time AI models, Akamai’s infrastructure offers both speed and enhanced security by processing data closer to users. This technological edge, combined with the company’s attractive valuation, offers substantial upside potential, with recent market activity reflecting growing investor interest in its AI-driven growth opportunities. AKAM has formed a classic bottoming pattern over the past few months and is now breaking above a major resistance level at $102.50. This breakout…
Costco could follow in the footsteps of Netflix and start a crackdown on membership sharing, according to Morgan Stanley. “Costco’s ongoing roll-out of membership card scanners at its U.S. clubs could soon deliver a Netflix moment,” analyst Simeon Gutman wrote in a note to clients this week. “Our channel checks suggest membership counts at selected Costco locations, following implementation of the scanners, is rising by double digits.” The analyst has an overweight rating on Costco, and his price target of $950 implies more than 6% upside ahead, based on Tuesday’s close. Netflix has seen a surge in subscriptions in the…
Opaque communication. Lengthy deliberation. A bewildering outcome.Tennis, welcome to VAR: the source of existential angst, frustration, and rage across the English Premier League.This may sound hyperbolic, but since the introduction of Video Assistant Referees (VAR) to the top flight of English football five years ago, there has been no topic as hotly debated in the sport. It’s become football’s equivalent to Brexit — sharpening divides and becoming the reference point for pretty much every point of contention, just as the United Kingdom’s protracted secession from the European Union has done in politics.Tennis, by contrast, has been slow to use video…
ANKARA, TURKIYE – OCTOBER 23: Security forces, firefighters, and paramedics are dispatched to Turkish Aerospace Industries’ (TAI) facilities after explosions and gunshots were reported following a terrorist attack in the Kahramankazan district of Ankara, Turkiye on October 23, 2024. (Photo by Ismail Kaplan/Anadolu via Getty Images)Anadolu | Anadolu | Getty ImagesA deadly attack was carried out at the Turkish Aerospace Industries’ headquarters near Ankara on Wednesday, the government said, as broadcasters showed footage of several armed assailants entering the building amid reports of gunfire and a loud explosion. “A terrorist attack was carried out against the TUSAS facilities in Kahramankazan,…
[The stream is slated to start at 11 a.m. ET. Please refresh the page if you do not see a player above at that time.]Rohit Chopra, director of the Consumer Financial Protection Bureau, will speak Wednesday at DC Fintech Week in Washington, D.C.The bureau finalized its personal financial data rights rule on Tuesday, a measure that would require financial services firms to unlock an individual’s personal financial data and then transfer it for free to another provider at the request of the customer.The rule would apply to data associated with a range of products, spanning from bank accounts and credit…
Wall Street is figuring out what to do about McDonald’s as the stock takes a hit following the fast-food giant’s reported E. coli outbreak. The Centers for Disease Control and Prevention said Wednesday that McDonald’s Quarter Pounder hamburger has been tied to 10 hospitalizations and one death. McDonald’s said an initial investigation showed some of the cases could be from its slivered onions, which are sourced from a single supplier. McDonald’s has told all local restaurants to remove slivered onions from their supply and has stopped offering the Quarter Pounder temporarily in several Western states, including Colorado, Kansas and Utah.…
Several companies scheduled to release quarterly results next week could see their shares take a dive after Wall Street analysts lowered their latest earnings estimates. Third-quarter earnings season is already off to a strong start. As of Tuesday, 19% of S & P 500 companies had reported, with earnings and revenue coming in at 6.1% and 1.4% above analysts’ expectations, respectively, according to LSEG. Compared with the year-ago quarter, earnings are up 4%, while revenue is ahead 4.2%. But a host of stocks could take a hit next week, after analysts slashed their earnings expectations in recent months. To find…
