Americans still opened their wallets last month, despite persistent fears about the economy, a slowing labor market and higher tariffs. Spending at US retailers rose 0.6% in August, the Commerce Department said Tuesday, unchanged from July’s upwardly revised 0.6%. Last month’s figure came in much better than economists’ expectations of a 0.2% increase, according to…
Check out the companies making headlines before the bell: Oracle — The cloud infrastructure company jumped 5% after CBS News reported , citing sources, that Oracle is among a consortium of firms that would enable TikTok to continue operations in the United States if a framework deal is finalized between the U.S. and China. Dave…
The U.K. is under pressure to offer a better deal to global pharmaceutical firms, as a slew of pulled investments and stalled drug pricing talks loom over U.S. President Donald Trump’s state visit to Britain. Drug companies have been urging U.K. authorities to pay more for drugs and improve the competitive landscape ahead of a…
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Hong Kong’s offshore yuan bond market is on track for a record-breaking year as some of mainland China’s largest technology firms prepare for deals, underscoring the city’s push to be a fundraising hub beyond equities. Chinese search-engine giant Baidu on September 9 said it would issue 4.5 billion yuan (US$618 million) in dim sum bonds,…
Although consumer sentiment appears to be at a sustained low in the United States — inflation spiked in August in tandem with rising jobless claims — the New York Times reported that sales of electric vehicles took off in a big way. In the current economic landscape, consumers remain cautious, curtailing their spending on both…
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The US and China are closing in on a deal to avoid a US ban of TikTok – and it will include China allowing US techies to replicate and replace the wildly popular app’s secret-sauce recommendation algorithm, On The Money has learned. Top White House officials confirmed on Monday they’ve settled on a “framework” for…
STORY: “The Magnificent Seven, the AI themes continue to dominate the news but you have industrials hitting new highs, including the venerable Dow Jones Industrial Average hitting 46,000 last week,” said Schoenfeld. “You have the financials hitting successive highs, you have banks and regional banks hitting all-time highs, and so this is a sign of…
Check out the companies making the biggest moves in premarket trading: Tesla — CEO Elon Musk disclosed he bought $1 billion worth of shares of the EV maker on Friday, helping send the stock nearly 8% higher. Nvidia — The dominant maker of semiconductors for artificial intelligence applications shed almost 2% after China’s market regulator…