FedEx experienced a significant drop in its shares, approximately 10%, on a Wednesday morning following the company’s revision of its revenue forecast due to weakened demand affecting sales. The package delivery giant anticipates a low-single-digit decline in revenue for the fiscal year, a notable departure from its earlier projection of flat sales year over year.… Continue reading FedEx shares tumble 10% after weaker demand hit revenue outlook

Target’s decision to close nine stores due to theft and organized retail crime, as announced in September, is questioned by a CNBC investigation. The analysis of crime statistics and 911 call data for 21 Target stores across New York City, Seattle, the San Francisco Bay Area, and Portland, where closures occurred, reveals that the locations… Continue reading Target blamed theft and violence for 9 store closures. Crime is higher at locations it kept open nearby

The Securities and Exchange Commission (SEC) reported that over 24 million U.S. households, about 18.5% of them, qualified as accredited investors in 2022. This marked an increase of approximately 8 million households from 2019, driven largely by inflation. Accredited investors are individuals who meet specific financial requirements, such as a minimum net worth or annual… Continue reading Inflation gives millions new access to investments for the wealthy, says SEC

The CNBC All-America Economic Survey presents a complex picture of American sentiment during the holiday season. Despite a continued slump in economic views and increasingly negative opinions on President Joe Biden’s job performance, holiday spending plans appear robust. The survey indicates that the intended holiday spending per person has significantly increased to $1,300 this year,… Continue reading Holiday spending to be up big even as approval of Biden hits new low, CNBC economic survey shows

Japan’s Nippon Steel has successfully secured a deal to acquire U.S. Steel for $14.9 billion in cash, emerging victorious in an auction for the iconic 122-year-old steelmaker. This deal, priced at $55 per share, represents a significant 142% premium to U.S. Steel’s last trading day before Cleveland-Cliffs initiated a $35-per-share cash-and-stock bid on August 11.… Continue reading Japan’s Nippon Steel to buy U.S. Steel in a $14.9 billion deal

Chicago Fed President Austan Goolsbee expressed concern that the market may have misconstrued the Federal Reserve’s recent message. Last week, the Fed opted to maintain rates and revealed projections of three rate hikes in 2024. Contrary to expectations, this led to a surge in stocks and bonds, prompting Goolsbee to question whether the market was… Continue reading Fed’s Goolsbee says he was ‘confused’ by last week’s market reaction

Delta Air Lines is strategically expanding its operations at Austin-Bergstrom International Airport to capitalize on the airport’s rapid growth and gain market share. The airline plans to introduce 11 nonstop flights from Austin in April, increasing its peak-day flights to almost 50, a move aimed at tapping into the potential of one of the nation’s… Continue reading Delta beefs up Austin flights in battle for fast-growing airport

New York Federal Reserve President John Williams dismissed the possibility of rate cuts being a current focus for the central bank, stating that discussions are centered around achieving a sufficiently restrictive monetary policy to bring inflation back to the target of 2%. Williams emphasized the importance of addressing the immediate question before the Federal Reserve,… Continue reading Fed’s John Williams says the central bank isn’t ‘really talking about rate cuts right now’

Ted Leonsis, the owner of the NBA’s Washington Wizards and the NHL’s Washington Capitals, has outlined a vision to transform his Monumental Sports & Entertainment into the world’s most valuable regional sports and entertainment company. Leonsis envisions a business model centered around Washington, D.C., with the potential for a $10 billion to $15 billion valuation… Continue reading With Washington Capitals, Wizards move to Virginia, owner Ted Leonsis pursues his vision of a $10 billion sports empire around Washington, D.C.

Ben Sherwood, former top Disney television executive and CEO of MOJO Sports, has entered a strategic partnership with TeamSnap, a sports management platform. Sherwood, known for his passion for youth sports, founded MOJO to bring a touch of Disney magic to the youth sports experience. TeamSnap’s acquisition of MOJO aims to scale the platform to… Continue reading Youth sports is a multibillion-dollar business. An ex-Disney TV exec aims to supercharge it

In November, consumers demonstrated unexpected resilience, providing a robust start to the holiday season, while signs of easing inflation continued. The Commerce Department’s report revealed a 0.3% increase in retail sales for November, surpassing the 0.2% decline in October and exceeding the estimated decrease of 0.1%. The reported figures are adjusted for seasonal factors but… Continue reading Retail sales rose 0.3% in November vs. expectations for a decline

On Wednesday, Treasury yields experienced a slight decline as investors awaited the Federal Reserve’s latest decision on interest rates and sought guidance on the future of monetary policy and the U.S. economy. The yield on the 10-year Treasury decreased by 2 basis points to 4.176%, while the 2-year Treasury yield was down by 3 basis… Continue reading Treasury yields dip as investors look to Fed rate decision, policy guidance