Tupperware products are offered for sale at a retail store on April 10, 2023 in Chicago, Illinois.Scott Olson | Getty ImagesTupperware Brands Corp. and some of its subsidiaries filed for Chapter 11 bankruptcy protection on Tuesday, giving in to dwindling demand for its once-iconic food storage containers and mounting financial losses.The company’s struggles resumed after a short-lived pandemic boost, when increased home cooking briefly drove demand for its colorful, airtight plastic containers. A post-pandemic jump in costs of raw materials such as plastic resin, as well as labor and freight, further dented Tupperware margins.”Over the last several years, the company’s…
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A market stall in the Kingston district of London in 2024.Bloomberg | Bloomberg | Getty ImagesLONDON — European markets opened mixed on Wednesday as investors considered key data from the region and looked to the U.S. Federal Reserve interest rate decision.The pan-European Stoxx 600 index was down 0.09% at 8:08 a.m. London time, with regional bourses and sectors having a mixed start to the trading day. Insurance stocks added 0.37%, while mining stocks pulled back 0.71%.The Stoxx 600 index had closed higher on Tuesday.In Europe, U.K. inflation figures for August were published Wednesday, coming in at 2.2% according to data…
COLUMBUS, Ohio — As the stadium clock approached seven minutes until game time, nobody could be within 25 feet of the flame when Ohio State unveiled its new pyrotechnics machine.In the press box at the top of Ohio Stadium, Ericka Hoon and Caleb Clark focused on the flame, communicating with staff on the field to make sure nobody was in harm’s way. When cheerleaders took their spots, their flags were too close. They had to be moved.Then the countdown for Ohio State’s game-day operations staff began. Three. Two. One. The team’s intro video rolled, and the Buckeyes gathered in the…
With the Federal Reserve expected to make its first interest rate cut in four years Wednesday, it is time to take a look at how stocks performed at the start of prior easing cycles. Expectations are running high for the market’s already-strong performance this year to continue after the Fed slashes rates. The S & P 500 touched a record high on Tuesday , bringing its year-to-date gain to more than 18%. But how it will perform from here depends largely on the economy, historical data shows. In total, across all cycles, the S & P 500’s performance in the…
CNBC’s Jim Cramer on Tuesday pinpointed why he thinks artificial intelligence is useful across the business world, saying its value stems from customer service potential across industries.”It has time for you. It acknowledges you. It has a brain. It’s polite. It can almost always answer your question because there’s only so many questions that get asked with any regularity, and it has the data to answer the question,” he said. “It’s the perfect way to run customer interactions rather than using humans who can speak unclearly, don’t really understand you, are impatient and are just plain exhausted.”Cramer acknowledged that much…
LONDON — U.K. inflation held steady during the month of August, data from the Office for National Statistics showed Wednesday, and matched analyst expectations.The headline consumer price index (CPI) was in line with the previous 2.2% reading in July and also matched a prediction from a Reuters poll of economists. Headline CPI had come in at 2% in May and June, in line with the Bank of England’s target rate.Services inflation — which is closely watched by the BOE, given its dominance within the U.K. economy and its reflection of domestically-generated price rises — rose to 5.6% in August from 5.2% in…
Uh oh, Brock Purdy. Your detractors are lining up.The fellowship of Purdy Truthers can smell the validation. They prayed for times like these. Their contention this whole time is that you, the San Francisco 49ers quarterback, have been all hype, that you didn’t belong in the company of the game’s elite. They’ve been saying you’re only, well, you, because of the superstars around you. They’ve been eager to relegate you to a lesser tier, put you in line well behind Dak Prescott, Baker Mayfield and ’em.Oh, you better know they are watching and waiting. And hoping. For your downfall.They’re sitting…
Construction work is done around the Federal Reserve building on September 17, 2024 in Washington, DC. Anna Moneymaker | Getty Images News | Getty ImagesThis report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.What you need to know todayFrom high to flatOn Tuesday, the S&P 500 and Dow Jones Industrial Average closed at the flatline after both indexes notched all-time highs earlier in the day. The Nasdaq Composite added 0.2%. Europe’s regional Stoxx…
The U.S. Federal Reserve is on Wednesday heading for its first interest rate cut since the onset of the Covid-19 pandemic — and despite the move being widely forecast, global investors are braced for impact.The Fed is behind a swathe of its central bank peers, including those in the euro zone, the U.K., Canada, Mexico, Switzerland and Sweden, all of which have already cut rates.Many of these policymakers stressed they were willing to move ahead of the Fed — usually seen as the global leader — in response to slowing growth and easing inflationary pressures at home.However, some analysts have…
The Kansas City Royals are good for baseball, and not just because they’re a small market team vying for a postseason spot or because Bobby Witt Jr. is one of the game’s brightest young stars. No, the Royals are good for baseball because they’re a shining example of what every organization in professional baseball should be doing: trying. The Royals, you may recall, spent nearly $110 million on free agents this winter. The moves were well-received, but didn’t exactly make national headlines. They didn’t spend a half-billion dollars on two players like the Texas Rangers did before 2022. They didn’t win the…
