US equities closed sharply higher on Friday after a lower-than-expected inflation report for February. The Nasdaq Composite ended March with its biggest quarterly gain since 2020. For the week, the Dow gained 3.2%, while the S&P was up 3.5% and the Nasdaq Composite advanced 3.4%. The Dow and S&P 500 each posted their best week … Read more
Equities ended the quarter on a positive note after three stormy months in which markets were plagued by tensions in the banking system and changing outlooks for inflation and interest rates. Government data early Friday showed that the Federal Reserve’s preferred inflation measure, known as the core personal consumption price index, slowed in February, raising … Read more
Turkey on Thursday became the latest North Atlantic Treaty Organization ally to approve Finland’s entry into the alliance — a move that has huge political and military implications, almost all of which will benefit the US. , it is difficult to overstate the importance of Finland’s NATO membership. Finland has long been a buffer between … Read more
Senator Joe Manchin, DW.Va., asks questions at a Senate Appropriations Subcommittee on Financial Services and General Government hearing to examine proposed fiscal year 2024 budget estimates and justification at the Capitol in Washington on Wednesday, March 22, 2023. (AP Photo/ Amanda Andrade-Rhoades) Photo: Amanda Andrade-Rhoades/Associated Press We interrupt Donald Trump’s latest melodrama for a word … Read more
WASHINGTON — The Biden administration has detailed new criteria for an electric vehicle tax credit program, a change that officials said they expect will reduce the number of eligible models. The new rules, issued by the Treasury Department on Friday, aim to make the US less dependent on batteries and critical minerals shipped from China. … Read more
Tesla (ticker: TSLA) is expected to release first-quarter shipment numbers over the weekend. According to 10 estimates from FactSet, Wall Street expects the electric vehicle company to ship 432,000 units in the first quarter, up from about 405,000 in the fourth quarter of 2022. In the first quarter of 2022, Tesla delivered about 310,000 vehicles. … Read more
Bed bath & beyond Inc. said it will try to sell up to $300 million of common stock on the open market while terminating a fundraising deal with hedge fund Hudson Bay Capital Management LP in the troubled home goods retailer’s latest effort to to avert bankruptcy. The Union, NJ-based company broke its deal with … Read more
After fresh out of prison in New York in 1994 and trying to reestablish a meaningful connection to her past, a neighborhood hairstylist named Inez begins asking questions about her son, Terry, who was taken from her by the authorities and placed in a foster home. . It turns out he fell out of a … Read more
Last Updated: March 30, 2023 at 5:57 PM ET First published: March 30, 2023 at 5:24 p.m. ET Virgin Orbit Holdings Inc. plans to cease operations, according to a report from CNBC Thursday afternoon. Virgin Orbit’s VORB share fell 46% in after-hours trading, after falling 16% during Thursday’s regular session. The company is making the … Read more
WASHINGTON — Treasury Secretary Janet Yellen said regulators may need to tighten banking rules following the collapse of Silicon Valley Bank and Signature Bank, arguing that the recent turmoil is a sign that efforts to strengthen the financial system are incomplete. Speaking at an economic conference on Thursday, Ms Yellen questioned whether the regulatory system … Read more