Once synonymous with indulgent late-night snacks, hotel minibars were a hallmark of convenience for travelers in the 1990s and the early aughts. But that is not longer the case.The hotel minibar concept went global in 1974, when a Hilton in Hong Kong stocked its in-room fridges with tiny liquor bottles inspired by airline bar carts. Drink sales reportedly soared 500% that year, boosting Hilton’s overall revenue by 5%. Soon, minibars became a global standard, complete with sodas, candy and consistent brand-name selections.But the convenient novelty for guests was a logistical nightmare for hotels and staff. Restocking, food spoilage, operational costs…
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Microsoft’s Majorana 1 quantum computing chipMicrosoftIt doesn’t quite have the buzz of artificial intelligence, but quantum computing is having a moment of its own.Some of the most powerful institutions in the world, including Google, Microsoft, Amazon, IBM and the U.S. government, are spending many millions of dollars in a race to develop and build the first practical quantum computer.Startups focused on quantum technology attracted about $2 billion last year, according to a McKinsey & Co. report, as investors pile into an industry that could have nearly $100 billion in revenue within a decade.There isn’t much business today, though. In total,…
BRUSSELS, BELGIUM – DECEMBER 18: President of the EU Council Antonio Luis Santos da Costa talks to media (Photo by Thierry Monasse/Getty Images)Thierry Monasse | Getty Images News | Getty ImagesNATO’s agreement to more than double allies’ defense spending targets will rebalance Europe’s trade relations with the U.S. and see the region buy more American weaponry, European Union Council President Antonio Costa told CNBC on Friday.Earlier this week, NATO allies agreed to more than double their defense spending target from 2% of gross domestic product to 5% by 2035.The move has solved the main trade-related issue between Europe and the…
Check out the companies making headlines before the bell. Nike — Shares of the sneaker giant jumped 10% after Nike posted fiscal fourth-quarter results that beat expectations and said it expects profit and sales declines to moderate in the future. Nike said it has already taken its biggest financial hit from its turnaround efforts, and it expects tariffs to cost it roughly $1 billion, prior to any offsets from implementing price hikes and supply chain tweaks to mitigate that amount. HSBC upgraded Nike to buy from hold on the back of its results. Trade Desk — The ad tech stock…
Here are Friday’s biggest calls on Wall Street: Rothschild & Co. Redburn upgrades Boeing to buy from neutral The firm said “things seem to be taking a more positive turn for Boeing and the company appears healthier.” “We upgrade the stock to Buy (from Neutral) given the upside suggested by our new target price of $275 per share (versus $180 previously).” Canaccord downgrades Uber to hold from buy After a change in analyst coverage, the firm downgraded both stocks on concerns about autonomous vehicles. “The future could be bright: value added in the AV world through hybrid human-robot networks, strong…
The PCE price index was projected to rise 0.1% in May, with the annual inflation rate at 2.3%, according to the Dow Jones consensus. Source link
Aerial view of the headquarters of Contemporary Amperex Technology Co., Limited (CATL) on February 6, 2025 in Ningde, Fujian Province of China.Vcg | Visual China Group | Getty ImagesThe world’s largest electric vehicle (EV) is going all-in on international expansion and could shake up the EV market in the process with its battery-swapping tech rollout. China’s Contemporary Amperex Technology Co. Ltd. (CATL) is a key player in the global transition to more sustainable transport, with a market share in the EV sector of roughly 38%. CATL’s clients include global players like Tesla, Volkswagen and BMW, with the firm boasting technology…
Nike is poised to see even more gains following its better-than-expected results for the fiscal fourth quarter, HSBC said on Friday. The firm upgraded the sneaker giant to buy from hold, marking its first buy rating on the stock in three and a half years. It also raised its price target on the name by $20 to $80, which implies about 28% upside from Thursday’s close. This comes as shares surged more than 9% in the premarket Friday after Nike beat analyst expectations on the top and bottom lines. While the company said that President Donald Trump’s tariffs are anticipated…
In this photo illustration, the DeepSeek logo is seen displayed on a smartphone screen and in the background, the flag of the European Union. Thomas Fuller | Sopa Images | Lightrocket | Getty ImagesOne of Germany’s data protection watchdogs on Friday said DeepSeek’s app illegally sends user data to China and asked Google and Apple to consider blocking the artificial intelligence service.Berlin’s data protection commissioner Meike Kamp said in a statement that DeepSeek’s transfer of German user data to China is “unlawful.” There is not a readily available way to get in touch with DeepSeek. CNBC has reached out to…
Wendy Kopp grew up as a member of “the me generation,” during a period of time when she says young, highly educated Americans were “convinced that we all wanted to go to work on Wall Street.”But that ideology didn’t resonate with Kopp, who graduated from Princeton University in 1989.When firms were trying to recruit graduates who could commit two years to work at their firm, Kopp asked herself, “Why aren’t we being as aggressively recruited to commit just two years to teach in our country?” She became heavily invested in answering that question.”It’s a big, complex, systemic challenge, and we know…
