Shoppers and visitors out on Oxford Street on 4th May 2025 in London, United Kingdom. Mike Kemp | In Pictures | Getty ImagesA car tax data calculation error caused the U.K.’s inflation rate to be overstated by 0.1 percentage points for the year to April, the Office for National Statistics (ONS) said on Thursday.The ONS had initially said last month that the U.K.’s annual rate hit 3.5% in April, coming in above analyst expectations. On Thursday, the statistics body released revised data, showing the country’s consumer price index rose instead by a lower 3.4% in the 12 months to April.The…
Author: usaeverydaylife
Apparently, convincing your friends to sell chicken can pay off — big.At 24, Arman Oganesyan was making $50 a night as a stand-up comedian with no restaurant or business experience when he pitched the idea of selling Nashville hot chicken to his childhood friends Dave Kopushyan and Tommy Rubenyan. Pooling $900 in savings, they launched Dave’s Hot Chicken in 2017 as a pop-up in a Los Angeles parking lot.On Monday, private equity firm Roark Capital bought a majority stake in Dave’s Hot Chicken, which is now a franchise business with more than 300 locations, in a deal worth “pretty close”…
A worker checks a finished vehicle on the production line for electric vehicle maker Zeekr at its factory on May 29, 2025 in Ningbo, China. Kevin Frayer | Getty Images News | Getty ImagesBEIJING — Chinese regulators aren’t pleased about the price war brewing in its automotive sector, but industry players and analysts only see the competition heating up.”A certain automaker has taken the lead in launching significant price cuts and many companies have followed suit, triggering a new round of ‘price war’ panic,” the China Association of Automobile Manufacturers said in a Chinese-language statement Saturday, translated by CNBC.The government-linked…
U.S. Treasury yields stabilized on Thursday after sharp declines notched Wednesday on the back of a slate of disappointing U.S. data.The 2-year yield rose less than 1 basis point to 3.885% at 3:26 a.m. EST, with the 10-year Treasury yield also up by less than 1 basis point at 4.371%. The 30-year long bond yield held steady at 4.89%.One basis point equals 0.01%. Yields and prices move inversely in the bond market.Investors will be keeping an eye out on April trade data and on the latest initial jobless claims print coming out later on Thursday, after a set of weak indicators sent Treasury…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: The S & P 500 was hanging on to slight gains in what would be a third straight winning session. Declining bond yields following Wednesday morning’s much weaker-than-expected private-sector jobs report helped support stocks. The ADP’s monthly look at hiring trends at U.S. companies showed May additions of just 37,000 positions . That was the lowest total from ADP in more than two years. Jim Cramer said earlier Wednesday that if the…
The Wise logo displayed on a smartphone screen.Pavlo Gonchar | SOPA Images | LightRocket via Getty ImagesBritish money transfer firm Wise on Thursday said that it plans to move its primary listing location to the U.S., dealing a fresh blow to the London stock exchange.Wise said in its full-year earnings statement that it will move to a dual listing, with its main listing hub shifting to the U.S. while maintaining a secondary listing in London.”This would allow Wise’s shares to trade on both a US stock exchange and the LSE,” Wise said in its earnings announcement.Wise debuted on London’s stock…
British fintech Wise to move primary listing to the U.S. in blow to London stock exchangeThe Wise logo displayed on a smartphone screen.Pavlo Gonchar | SOPA Images | LightRocket via Getty ImagesBritish money transfer firm Wise on Thursday said that it plans to move its primary listing location to the U.S., dealing a fresh blow to the London stock exchange.Wise said in its full-year earnings statement that it will move to a dual listing, with its main listing hub shifting to the U.S. while maintaining a secondary listing in London.”This would allow Wise’s shares to trade on both a US…
Mayor of London Sadiq Khan speaks with moderator Tania Bryer during the “Opening Remarks – Welcome to SXSW London” panel discussion on the first day of SXSW London 2025 at The Truman Brewery on June 2, 2025.Jack Taylor | Getty Images Entertainment | Getty ImagesLondon Mayor Sadiq Khan made a pitch to World Wrestling Entertainment legend Paul “Triple H” Levesque to bring the wrestling promotion’s biggest event, Wrestlemania, to the U.K. capital.”I’d love for WrestleMania to come to London,” Khan told CNBC’s Tania Bryer. “Triple H if you’re watching, we want WrestleMania to come to London.”Speculation has been rife about…
Workers transporting soil containing rare earth elements for export at a port in Lianyungang, Jiangsu province, China, Oct. 31, 2010.Stringer | ReutersAutomotive industry groups are increasingly worried about a rare earth shortage.Several European auto supplier plants and production lines have already been shut down due to China’s recent export controls, according to Europe’s auto supplier association CLEPA, with the group warning of more outages as inventories deplete.Germany’s car industry and auto executives have also sounded the alarm, saying the highly globalized sector is acutely vulnerable to further supply chain disruption.China’s Ministry of Commerce in early April imposed export restrictions on…
Use of low-cost e-commerce giants Temu and Shein has slowed significantly in the key U.S. market amid President Donald Trump’s tariffs on Chinese imports and the closure of the de minimis loophole, new data shows.Temu’s U.S. daily active users (DAUs) dropped 52% in May versus March, before Trump’s tariffs were announced, while those at rival Shein were down 25%, according to data shared with CNBC by market intelligence firm Sensor Tower.DAUs is a measure of the number of people who visit or interact with a platform every 24 hours. Monthly active users (MAUs), a measure of user engagement over a…
