By Stephen Nellis and Karen Freifeld WASHINGTON (Reuters) -The U.S. Commerce Department should put trade curbs on Chinese memory chip maker Changxin Memory Technologies (CXMT) after Beijing earlier this week banned the sale of some chips by U.S.-based Micron Technology Inc, the chair of the U.S. House of Representatives’ committee on China said on Tuesday. … Read more
Investing.com – The U.S. banking crisis, which has claimed a few victims since March, is the direct result of the Fed’s fight against high Inflation. Uncertainty about the health of regional banks and rising yields in the money market led to a steady outflow of deposits, bringing banks’ balance sheets to their knees. The primary … Read more
how to make $1000 a month in passive income Is it possible to earn a paycheck while sitting on the couch watching television? Absolutely, but it takes a bit of work beforehand to set things in motion. By developing online assets, investments and interest payments, you can put your dollars to work so they provide … Read more
Jeremy SiegelScott Mlyn/CNBC/NBCU Photo Bank/NBCUniversal via Getty Images There is zero chance the US debt-ceiling deadlock won’t get resolved, Jeremy Siegel said in his WisdomTree commentary. The timeline will be extended or the debt limit will be raised, the Wharton finance professor predicted. US lawmakers are still sparring over the conditions they want for lifting … Read more
NEW YORK (AP) — Target is removing certain items from its stores and making other changes to its LGBTQ merchandise nationwide ahead of Pride month, after an intense backlash from some customers including violent confrontations with its workers. “Since introducing this year’s collection, we’ve experienced threats impacting our team members’ sense of safety and well-being … Read more
Dow Jones futures tilted higher after hours, along with S&P 500 futures and Nasdaq futures. Ongoing debt-ceiling talks are in focus. Palo Alto Networks (PANW) rose on earnings Tuesday night, with Nvidia (NVDA) earnings due Wednesday. PTC Therapeutics (PTCT) dived on disappointing clinical trial data. X The stock market rally retreated Tuesday, with a number … Read more
Apple, helmed by longtime CEO Tim Cook, plans to invest more than $400 billion in the US economy over the next five years. Apple has unveiled a multibillion-dollar deal with Broadcom to produce new 5G radio frequency components in the US. The May 23 announcement comes as Apple—the world’s largest consumer electronics company—looks to spend … Read more
(Reuters) -Tesla Inc Chief Executive Officer Elon Musk said on Tuesday the automaker would probably pick a location for a new factory by the end of this year. When the Wall Street Journal’s Thorold Barker asked Musk at an event if India was interesting, he said, “Absolutely”. Tesla is “serious” about its plans to establish … Read more
The U.S. is on track to default on its payments obligations if the debt ceiling is not raised. But according to Ray Dalio, founder of the world’s largest hedge fund Bridgewater Associates, the problem could extend beyond a debt crisis. “The debt ceiling negotiations is ridiculous because it’s not dealing with the problem,” he said … Read more
(Bloomberg) — Bernard Arnault, the world’s richest person, had $11.2 billion wiped from his fortune in one day over concerns that a softening US economy will dampen demand for luxury goods. Most Read from Bloomberg The founder of LVMH — whose offerings include Louis Vuitton handbags, Moet & Chandon Champagne and Christian Dior gowns — … Read more