Kanye West at an event announcing a partnership with Adidas on June 28, 2016 in Hollywood, California. Getty Images Adidas on Wednesday cut its full-year guidance on the back of the German sportswear giant’s termination of its partnership with Kanye West’s Yeezy brand. The company ended its relationship with Ye,Continue Reading
(Bloomberg) — Most Read from Bloomberg Credit Suisse Group AG hit a fresh record low after attempts to reassure markets on its financial stability only added to the sense of turmoil surrounding the troubled Swiss bank. The shares dropped as much as 12% in Zurich trading on Monday to 3.52Continue Reading
After years of cheap money, it’s suddenly a lot more expensive to borrow. The Federal Reserve has raised its benchmark short-term rate 3 percentage points since March in an effort to curb unrelenting inflation, including another big hike earlier this week. “Interest rates are going up at the fastest pace that any ofContinue Reading
A branch of Barclays Bank is seen, in London, Britain, February 23, 2022. Peter Nicholls | Reuters Barclays on Thursday saw a slump in second-quarter profit after taking a substantial provision relating to a costly trading error in the U.S. The British bank reported a £1.071 billion ($1.30 billion) netContinue Reading
In December, we listed analysts’ favorite semiconductor stocks for 2022. That hasn’t turned out well. But after chipmakers’ stocks have been hammered, the group is now trading at “normal-level valuations,” according to Matt Peron, director of research at Janus Henderson Investors. For long-term investors, it may help to see whichContinue Reading
Tight supplies of new cars, high prices and rising interest rates are making automobiles increasingly unaffordable for many Americans. In June, the average transaction price of a new car topped $48,000 for the first time, an increase of almost 13 percent from a year earlier, Kelley Blue Book reported thisContinue Reading
Joe Biden reportedly sent 5 million barrels of oil to Europe and Asia in June even as US prices hit record highs — here are the 2 energy stocks that could gain the most One of the surest signs of inflation is the pain Americans are feeling at the pump.Continue Reading
(Bloomberg) — Bitcoin bulls beware: Wall Street expects the cryptocurrency’s crash to get a whole lot worse. Most Read from Bloomberg The token is more likely to tumble to $10,000, cutting its value roughly in half, than it is to rally back to $30,000, according to 60% of the 950Continue Reading
Upstart Holdings Inc. disappointed investors with its guidance in May, and faces Wall Street’s wrath once again after admitting Thursday it came up well short of the mark. Upstart UPST, +1.96% disclosed late Thursday that executives expect second-quarter losses and revenue to come in well short of targets they forecastContinue Reading
My summer portfolio strategy is to play the old disco hit “Baby Come Back” while slow dancing with my December brokerage statements. If it works, I have a business idea involving Hall, Oates, and a two-and-20 fee structure. At least there’s real estate. Home equity is said to be hittingContinue Reading