business news

Asia’s developing economies are set to grow faster than China’s

Chinese laborers working at a construction site at sunset in Chongqing, China. Getty Images Asia’s developing economies may be showing signs of recovery, but the Asian Development Bank (ADB) cut its growth forecasts for them yet again — thanks to China’s prolonged zero-Covid policy. But this will be the first time in more than three …

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German government agrees nationalization deal for energy giant Uniper

Uniper has received billions in financial aid from the German government as a result of surging gas and electric prices following Russia’s war in Ukraine. Picture Alliance | Picture Alliance | Getty Images The German government on Wednesday agreed to the nationalization of utility Uniper as it strives to keep the industry afloat in the …

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Stock futures fall ahead of the Federal Reserve’s expected interest rate hike

Stock futures were slightly lower on Wednesday morning as traders look ahead to the upcoming interest rate hike announcement from the Federal Reserve. Dow Jones Industrial Average futures fell by 57 points, or 0.19%. S&P 500 and Nasdaq 100 futures climbed 0.21% and 0.22%, respectively. Stocks fell Tuesday on the first day of the Federal …

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Forex pros weigh in on whether the British pound has hit the bottom

The British pound has slid against the US dollar over the past year, hitting a 37-year low against the greenback last week — and it could weaken even further, according to analysts. Sterling hit $1.1403 on Wednesday — a level not seen since March 1985 — amide dollar strength and mounting concerns over the UK’s …

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Biden to hit China with broader curbs on US chip and tool exports: Reuters

US President Joe Biden speaking during the groundbreaking of the new Intel semiconductor plant on September 9, 2022 in Johnstown, Ohio. The Biden administration plans next month to broaden curbs on US shipments to China of semiconductors used for artificial intelligence and chipmaking tools, several people familiar with the matter said. Andrew Spear | Getty …

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JPMorgan (JPM) fintech deal to acquire Renovite to battle Stripe and Block

The main entrance at JPMorgan’s headquarters in New York City. Erik McGregor | LightRocket | Getty Images JPMorgan Chase has agreed to acquire a payments startup called Renovite to fend off threats from fintech firms including Stripe and Block , CNBC has learned. The bank, a major player in the global payments arena, said that …

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Wall Street’s favorite value stocks include a media giant that could surge 55%

This year’s tumble in stocks has led many on Wall Street to look at a previously underappreciated part of the market: value. Value stocks are those names that typically trade at a low multiple relative to the broader market and have stable fundamentals. In recent years, investors had been shunning value names in favor of …

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Stock futures rise as Wall Street looks ahead to key inflation data

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, US, September 9, 2022. Brendan Mcdermid | Reuters Stock futures were higher Sunday night as Wall Street looks ahead to key inflation data to be released this week. Dow Jones Industrial Average futures rose 91 points, or 0.29%. S&P …

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Where Walmart, Amazon, Target are spending billions in slowing economy

A Walmart employee loads up a robotic warehouse tool with an empty cart to be filled with a customer’s online order at a Walmart micro-fulfillment center in Salem, Mass. ten Jan. 8, 2020. Boston Globe | Boston Globe | Getty Images When the economy slows down, the classic response for consumer businesses is to cut …

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The most compelling stocks on Wall Street include Lululemon & Workday

There are several stocks on the verge of exploding, Wall Street analysts wrote this week. These companies are not yet priced to perfection, analysts say, and should be bought now. CNBC Pro combed through top Wall Street research to find stocks with big potential upside. They include: AECOM, Lululemon, Workday , Transocean and Intercontinental Exchange. …

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