Tom Lee, managing partner and the head of research at Fundstrat Global Advisors, speaks on CNBC’s “The Exchange” on Oct. 31, 2023.Adam Jeffery | CNBCAn ETF driven by Tom Lee, an unabashed bull on Wall Street with a big online fandom, just hit another milestone.His first exchange-traded fund Fundstrat Granny Shots US Large Cap ETF (GRNY) has surpassed $2 billion in assets under management in less than nine months since its inception in November.It marks a rare success story in an industry where raising just 10% of that level can take years. The speed to reach $2 billion ranks no.1 out of…
Author: usaeverydaylife
Rare earths refer to 17 elements on the periodic table whose atomic structure gives them special magnetic properties. They’re also the most important bargaining chip in the U.S. and China trade war.That’s because these rare earth magnets power everything from electric vehicles and wind turbines to defense equipment, data centers and high-tech consumer electronics. The United States used to be an industry leader of rare earth production, but for the last several decades, the U.S. and the rest of the world have largely depended on China for the majority of their rare earths — China mines around 70% and processes around…
JPMorgan Chase, already the largest credit card issuer in the U.S., is nearing a deal to take over the Apple Card portfolio from Goldman Sachs, people familiar with the matter told CNBC.The banks declined to comment to CNBC. Apple didn’t immediately return request for comment. The Wall Street Journal first reported the potential deal. This story is developing. Please check back for updates. Source link
A UPS truck is parked as a driver makes a delivery on January 30, 2024 in Miami Beach, Florida.Joe Raedle | Getty ImagesUnited Parcel Service reported a decline in second-quarter profit and revenue on Tuesday, as demand took a hit from new “de minimis” tariffs on low-value Chinese shipments and mounting risks from President Donald Trump’s trade policies.The White House in May began collecting tariffs on shipments under $800 from China that were previously duty-free. While those levies were reduced to 54% from 120% as part of a trade truce, consumer demand is still expected to take a hit.Experts believe…
Commerce Secretary Howard Lutnick insisted Tuesday that President Donald Trump’s upcoming Friday deadline to impose major tariffs on a slew of trading partners won’t be delayed any further.But trade negotiations with China — the latest round of which are currently taking place in Stockholm, Sweden — are progressing on a separate timeline, Lutnick noted on CNBC’s “Squawk Box.””We have our own team working with China. They’re their own thing,” he said. “But for the rest of the world, we’re going to have things done by Friday.””August 1 is the date that we’re setting all these rates, and they are off to…
US President Donald Trump (R) and Apple CEO Tim Cook (2nd L), with Senior Advisor to the President Ivanka Trump (L) and Treasury Secretary Steven Mnuchin, tour the Flextronics computer manufacturing facility where Apple’s Mac Pros are assembled in Austin, Texas, on November 20, 2019.Mandel Ngan | AFP | Getty ImagesFaced with intensifying pressure from President Donald Trump to bring more jobs to the U.S., Apple is opening a manufacturing program in downtown Detroit.The Apple Manufacturing Academy, which is being administered by Michigan State University, will offer workshops on manufacturing and artificial intelligence to small and medium-sized businesses when it…
A view of the AstraZeneca office in Mölndal, Sweden, on September 12, 2024.Nurphoto | Getty ImagesAstraZeneca CEO Pascal Soriot on Tuesday reiterated the pharmaceutical firm’s commitment to the U.S. market amid reports that he is considering shifting its listing stateside.Soriot said the U.K.-listed company had many reasons to be in the U.S., adding that it was “rapidly transferring manufacturing” across the Atlantic so it could serve all U.S. patient needs domestically.”We have lots of reasons to be here [in the U.S.],” Soriot told media during an earnings call.”This country [the U.S.] will represent, we hope, 50% of our revenue by…
As companies lean into value offerings and buzzy beverages to lure price-sensitive consumers, Starbucks is doubling down on its plans to get back to basics by leaning into hospitality at its cafes.The coffee giant aims to stand out on guest experience in a cutthroat consumer environment as it tries to boost lackluster sales.Last week, the company began training baristas on its new “Green Apron Service” program as part of CEO Brian Niccol’s “Back to Starbucks” plans, which have emphasized friendlier cafes and a human touch like Sharpie drawings on cups. Green Apron Service builds on that, relying on warm and…
Packages of Peanut M&M’s chocolate candy are displayed at a Costco Wholesale store on April 27, 2025 in San Diego, California. Kevin Carter | Getty Images News | Getty ImagesCandy and snacks giant Mars on Tuesday announced plans to invest $2 billion more in its U.S. operations through next year to bolster the company’s ongoing efforts to expand manufacturing in the country.The Twix and Milky Way chocolate maker has already invested more than $6 billion in U.S. manufacturing in the last five years and the new funding will support a $240 million facility for Nature’s Bakery in Salt Lake City, Utah.The new facility, opening on Wednesday, will create over 230 new jobs in…
Cash App’s new Pools feature lets users set a group funding goal, name the pool, and invite contributors.Courtesy: Cash AppCash App is going on the offensive in peer-to-peer payments.The Block-owned payments platform on Tuesday unveiled Pools, a new peer-to-peer feature designed to make group payments simple. It’s the company’s first major P2P product launch in nearly two years.”This is the first time we’re going into out-of-network payments with Pools,” said Owen Jennings, Block’s head of business, referring to the feature’s ability to accept contributions via Apple Pay or Google Pay from people who aren’t on Cash App.Pools allows users to…
