A Frontier Airlines airplane taxis past a Spirit Airlines aircraft at Indianapolis International Airport in Indianapolis, Indiana, on Monday, Feb. 7, 2022. Luke Sharrett | Bloomberg | Getty Images Spirit Airlines terminated its merger agreement with Frontier Airlines on Wednesday, months after rival suitor JetBlue Airways‘ all-cash bid threw the planned tie-up into disarray. Shareholders
Federal Reserve Chairman Jerome Powell said Wednesday he does not believe the U.S. economy is in a recession as the central bank raised rates further to fight inflation. “I do not think the U.S. is currently in a recession and the reason is there are too many areas of the economy that are performing too
When Kylie Jenner’s very brief flight on a private jet went viral last week, people were outraged — largely about the environmental impact of the trip. Jack Sweeney was unfazed. The 19-year-old whose Twitter account @CelebJets publicized Jenner’s trip has made a name for himself since January by publicly tracking the private jets of billionaires
The Good Brigade | DigitalVision | Getty Images As the Federal Reserve again raises interest rates to combat soaring inflation, some advisors are shifting clients’ investment portfolios. The central bank on Wednesday enacted its second consecutive three-quarters of a percentage point interest rate increase, aiming to curb rising prices without triggering a recession. The move
The U.S. Federal Reserve increased its benchmark interest rate by 75 basis points to a range of 1.5%-1.75% in June — the biggest increase since 1994. Fed Chair Jerome Powell (above) flagged there could be another rate hike in July. Mary F. Calvert | Reuters The Federal Reserve raised its benchmark interest rates by 75
The Federal Reserve raised the target federal funds rate by another 0.75 percentage points at the end of its two-day meeting Wednesday, in an effort to curb unrelenting inflation. Fed officials have already raised benchmark short-term borrowing rates 1.5 percentage points this year, including June’s 75-basis point increase, which marked the largest increase in nearly three decades. The
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The Conservative Party in the United Kingdom is in the process of determining its new leader as Prime Minister Boris Johnson exits the stage. The new Conservative Party leader will be the next UK Prime Minister. The process has narrowed the field to two candidates: former Chancellor of the Exchequer Rishi Sunak and Foreign Secretary Liz
In this article BA An aerial view of Boeing 777X and Boeing 737 MAX 10 airplanes parked at King County International Airport-Boeing Field, in Seattle, Washington, June 1, 2022. Lindsey Wasson | Reuters Boeing on Wednesday stuck by its forecast to return to free cash flow in this year as it prepares to resume deliveries of its 787 Dreamliner
A prospective home buyer is shown a home by a real estate agent in Coral Gables, Florida. Joe Raedle | Getty Images Mortgage demand edged lower for the fourth straight week, according to data released Wednesday, even though interest rates have fallen from their recent highs. Total volume was down 1.8% last week from the
Speculation has emerged in recent months that Credit Suisse may be considering a capital raise. Thi My Lien Nguyen | Bloomberg | Getty Images Credit Suisse Chairman Axel Lehmann denied any intention to sell or merge the embattled Swiss lender after it reported a massive second-quarter loss. The bank posted a net loss of 1.593
Getty Images Young adults may be hearing the save-for-retirement drumbeat loud and clear, a new study suggests. Generation Z workers — defined in the study as those ages 18 to 25 — are socking away, on average, 14% of income for their golden years, according to new research from BlackRock. That compares with 12% for
Most apartments in China are sold before developers finish building them. Pictured here on June 18, 2022, are people selecting apartments at a development in Huai’an, Jiangsu province, near Shanghai. Future Publishing | Future Publishing | Getty Images BEIJING — China’s property sales are set to plunge this year by more than they did during
In this article KO A woman is drinking Coca-Cola near Playacar Beach in Playa del Carmen, Mexico. Artur Widak | NurPhoto | Getty Images Coca-Cola on Tuesday reported quarterly earnings that topped expectations as the beverage giant’s sales at restaurants, theaters and other venues recovered from the pandemic. Here’s what the company reported, versus what
A Walmart Inc. logo is displayed on a sign that reads “Everyday Low Price” at a store in Burbank, California, U.S., on Tuesday, Nov. 26, 2019. Patrick T. Fallon | Bloomberg | Getty Images Shares of retailers including Macy’s, American Eagle and Amazon fell Tuesday, a day after Walmart slashed its profit forecast and warned
Stock futures climbed early on Wednesday morning as traders await the Federal Reserve’s latest interest rate decision, scheduled to be announced Wednesday afternoon. Futures on the Dow Jones Industrial Average rose by 105 points, or 0.33%. S&P 500 futures gained 0.75% and Nasdaq 100 futures increased 1.35%. Shares of Enphase Energy gained about 6% after
Paul Bradbury | Ojo Images | Getty Images Federal student loan servicers have been told to hold off on sending out payment reminders to borrowers, according to two sources familiar with the matter. The development suggests the Biden administration could be considering extending the pandemic-era payment pause on federal student loans yet again. The policy,
Banks in Singapore raised housing loan rates in June, following the U.S. Federal Reserve’s decision to increase interest rates by 75 basis points in the same month to cool inflation — its most aggressive hike since 1994. Nurphoto | Nurphoto | Getty Images Homeowners in Singapore are starting to tighten their belts as they will
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In this article MCD A sign is posted in front of a McDonald’s restaurant on April 28, 2022 in San Leandro, California. Justin Sullivan | Getty Images McDonald’s on Tuesday said both price hikes and value items fueled U.S. same-store sales growth, which was higher than expected during its second quarter. However, CEO Chris Kempczinski