Category Archives: CNN – Business

Top builder says the housing boom isn’t over just yet

Top builder says the housing boom isn’t over just yet

Intense bidding wars and supply shortages for lumber and other building materials threaten to finally derail the housing market. But one top homebuilder says the good times — for builders, anyway — aren’t over just yet. Lennar, a Miami-based builder, reported earnings and revenue after the closing bell Wednesday that topped forecasts. What’s more, Lennar…MORE

JPMorgan Chase buys robo-adviser Nutmeg ahead of UK banking launch

JPMorgan Chase buys robo-adviser Nutmeg ahead of UK banking launch

The biggest US bank is ramping up its plans to expand in the United Kingdom. JPMorgan Chase announced Thursday that it’s buying Nutmeg, the UK digital wealth manager, for an undisclosed amount. It said the new acquisition will “complement” the digital bank that it’s planning to launch in the country later this year under the…MORE

CureVac shares drop 45% after disappointing Covid vaccine results

CureVac shares drop 45% after disappointing Covid vaccine results

Shares in CureVac plummeted on Thursday after the German biotech company said that interim trial results showed its experimental Covid-19 vaccine was only 47% effective in preventing symptomatic disease. The disappointing results sent shares down 45% in afternoon trading in Germany, wiping nearly $8 billion off the company’s market value. Shares listed in the United…MORE

Gold loses its shine as Fed hints at rate hikes

Gold loses its shine as Fed hints at rate hikes

The Federal Reserve surprised the market Wednesday with projections that future interest rate hikes will come a bit sooner than expected. Gold bugs in particular were disappointed. The price of gold fell 4% Wednesday and was lower again Thursday, falling below $1,800 an ounce for the first time since early May. While it’s true that…MORE

Jobless claims unexpectedly rose last week

Jobless claims unexpectedly rose last week

Claims for unemployment benefits rose unexpectedly last week, marking the first increase in initial claims since late April. Another 412,000 workers filed for first-time benefits in the week ended June 12, adjusted for seasonal swings, the Labor Department said Thursday. Since the start of May, weekly claims had set new pandemic-era lows every week —…MORE

Financial markets are moving into a new era

Financial markets are moving into a new era

What Federal Reserve Chair Jerome Powell said in staid tones on Wednesday may not have sounded momentous. It was. What’s happening: The US central bank now expects to raise interest rates in 2023 as the post-pandemic economy booms and inflation rises. That’s sooner than it indicated in March, when the Fed predicted rates would stay…MORE

Companies are celebrating Juneteenth in unique ways this week

Companies are celebrating Juneteenth in unique ways this week

Major corporations are celebrating Juneteenth in unique ways this week. The annual June 19 tradition, which falls on Saturday this year, commemorates the day in 1865 when former American slaves in Galveston, Texas, were finally informed of President Abraham Lincoln’s January 1, 1863, Emancipation Proclamation and the end of the Civil War. It took Union…MORE

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