American Express, known for its personal and corporate cards. It’s foraying into banking territory and a growing list of fintech players. The card company is launching its first checking account for small businesses, relying on technology acquired last year in its Kabbage purchase, online lender CNBC has learned. The product, called Kabbage Checking, is a zero-fee digital account that pays …Read More »
font size The price of Bitcoin jumped above $40,000 on Monday, up nearly 13% in 24 hours. Photo by TOBIAS SCHWARZ/AFP via Getty Images. Just one tweet is enough. Bitcoin Investors Waiting Tesla Chief Executive Elon Musk comes to the rescue and rescues cryptocurrencies from problems that will last for weeks. For now at least The price of Bitcoin surged …Read More »
The logo of General Electric Group in the United States is pictured at the site of the company’s energy branch in Belfort, France February 5, 2019. REUTERS/Vincent Kessler/File Photo General Electric (GM.N) and France’s Safran (Safran.O) on Monday set test plans to build an open propeller jet engine that could cut fuel consumption and emissions by up to 20 percent …Read More »
The Federal Reserve is risking credibility by keeping policy loose and letting inflation grow in ways that may not happen temporarily, billionaire hedge fund manager Paul Tudor Jones told CNBC on Monday. This week will see “The most important meeting in [Chairman] Jay Powell’s career is certainly the most important meeting of the Fed in the past four or five …Read More »
Lordstown shares fell nearly 20% in early trading. Lordstown gave no concrete reason for the resignation of CEO Steve Burns and CFO Julio Rodriguez. But board member David Hamamoto said at a news conference that while the company plans to begin limited production of the car in late September, It’s time to It “puts on a seasoned management team with …Read More »
Vaccines against COVID-19 The two-shot formulation produced by Novavax is 90 percent effective against this disease. The company said today Novavax shots are a different type of vaccine than they already have: they are protein-based vaccines that directly deliver fragments of the coronavirus-blocking protein, which the body produces antibodies against. Novavax tested the vaccine in 29,960 people across the United …Read More »
Credit and debit card spending is up 20 percent this year from 2019, Bank of America CEO Brian Moynihan said.
Bank of America CEO Brian Moynihan said American consumers spend more freely while the economy remains open. Transaction volumes on customer credit and debit cards and through Zelle’s payment network have increased 20 percent so far this year compared to this point in 2019, Moynihan told CNBC’s Becky Quick Monday on CNBC’s “Squawk Box.” This comparison excludes 2020, which is …Read More »
Philips is recalling millions of devices Includes sleep apnea machines and ventilators used for coronavirus patients due to concerns the components could cause cancer and respiratory problems, the company said on Monday. foam parts used in equipment Millions of “DreamStation” PAP, CPAP and Philips ventilators can decompose and emit potentially toxic fumes into patients. The Dutch medical company said in …Read More »
Paul Tudor Jones says ‘do everything for inflation’ if the Fed continues to ignore higher, higher prices.
Paul Tudor Jones, billionaire hedge fund manager, told CNBC on Monday: He paid particular attention to the Federal Reserve’s (Fed) policy meeting this week on the latest economic data showing higher consumer prices. “If they treat these numbers which is an important event They are very important. If they treat them carelessly I think it’s just the green light to …Read More »
Shares futures traded sideways on Monday morning at the start of a quiet week. As traders wait for important monetary policy decisions from the US Federal Reserve. The S&P 500 contract was up just 0.1% after the index closed at a record high on Friday. Dow futures hugged the flat line, while Nasdaq futures outperformed, gaining around 0.3% two hours …Read More »