A pedestrian walks by the entrance to Lombard Odier in Geneva, Switzerland. Bloomberg | Bloomberg | Getty Images Lombard Odier — one of Switzerland’s oldest private banks — was indicted by Swiss prosecutors on charges of aggravated money laundering. In a release on Friday, the Office of the Attorney General of Switzerland, or OAG, said
Business
A “Keep America Great” hat tops off a Christmas tree at a “Merry Christmas” rally hosted by President Donald Trump at the Kellogg Arena in Battle Creek, Michigan, Dec. 18, 2019. Scott Olson | Getty Images News | Getty Images Black Friday is poised to take on a new tint of red, white and blue
Betsie Van Der Meer | Digitalvision | Getty Images The holiday season is a time to give thanks, reflect on the past year, and spend time with family and friends. However, if you’re not careful, it can also be a time you overspend on holiday purchases. About 83% of Americans plan to buy gifts for
A Walmart Supercenter in Burbank, California, Nov. 21, 2024. Allen J. Schaben | Los Angeles Times | Getty Images Walmart on Monday confirmed that it’s ending some of its diversity initiatives, removing some LGBTQ-related merchandise from its website and winding down a nonprofit that funded programs for minorities. The nation’s largest employer, which has about
Workers transporting soil containing rare earth elements for export at a port in Lianyungang, Jiangsu province, China, Oct. 31, 2010. Stringer | Reuters BEIJING — China will start limiting exports of critical metal tungsten this weekend, just as alternatives to Chinese suppliers of the metal are reopening. It’s a reversal of past decades, during which,
The Amgen logo is displayed outside Amgen headquarters in Thousand Oaks, California, on May 17, 2023. Mario Tama | Getty Images Amgen on Tuesday said its experimental weight loss injection helped patients with obesity lose up to 20% of their weight on average after a year in a critical mid-stage trial, as the company races
President-elect Donald Trump at a viewing of a test-flight launch of the SpaceX Starship rocket in Brownsville, Texas, Nov. 19, 2024. Brandon Bell | Getty Images News | Getty Images As Inauguration Day nears, investors are trying to unravel what booms or busts lay ahead under President-elect Donald Trump. Trump’s campaign promises — from tariffs
Best Buy on Tuesday cut its full-year sales forecast and missed Wall Street’s quarterly revenue expectations, as early holiday shopping and a fresh batch of iPhones and AI-enabled laptops weren’t enough to drive higher sales. The consumer electronics retailer said it now expects full-year revenue to range from $41.1 billion to $41.5 billion, compared with
Ali Ghodsi, co-founder and chief executive officer of Databricks Inc., speaks during a Bloomberg Technology television interview in San Francisco on Oct. 22, 2019. David Paul Morris | Bloomberg | Getty Images One of the world’s most valuable private tech companies is raising billions more in cash and is in no rush to go public,
Auliʻi Cravalho voices Moana in Disney Animation’s “Moana 2.” Disney The domestic box office is poised for its biggest Thanksgiving haul since the pandemic thanks to a Polynesian princess, a pair of witches and a revenge-fueled gladiator. Disney’s “Moana 2” is set to hit theaters Wednesday and generate between $120 million and $150 million in
Images By Tang Ming Tung | Digitalvision | Getty Images Actively managed exchange-traded funds are a growing trend in the investment space. To that point, investors have pulled money from active mutual funds and sought out actively managed ETFs in recent years. Investors yanked about $2.2 trillion from active mutual funds from 2019 through October
Nordstrom on Tuesday beat Wall Street’s quarterly sales expectations, as revenue grew about 4% year over year from shoppers buying clothing, shoes and activewear at both the company’s namesake department store and its off-price chain. Yet despite its better-than-expected quarter, the Seattle-based retailer gave only a slightly rosier full-year sales forecast — taking a conservative
White House Council of Economic Advisers Chairman Kevin Hassett addresses reporters during the daily briefing at the White House in Washington, U.S. February 22, 2018. Jonathan Ernst | Reuters President-elect Donald Trump picked Kevin Hassett to lead the National Economic Council, a role that puts him at the center of the administration’s policy-making discussions from trade to taxes
Packages of Modelo Especial beer are displayed for sale in a grocery store on June 14, 2023 in Los Angeles, California. Mario Tama | Getty Images Shares of Constellation Brands fell 3.5% on Tuesday after President-elect Donald Trump announced plans to place a 25% tariff on Mexican imports once he’s inaugurated. Constellation imports all of
Federal Reserve officials expressed confidence that inflation is easing and the labor market is strong, allowing for further interest rate cuts albeit at a gradual pace, according to minutes from the November meeting released Tuesday. The meeting summary contained multiple statements indicating that officials are comfortable with the pace of inflation, even though by most
Incoming Kohl’s CEO Ashley Buchanan and current CEO Tom Kingsbury. Courtesy: Michael’s | Kohl’s Kohl’s is getting a new CEO, its third since 2018. The off-mall department store’s current CEO Tom Kingsbury is stepping down effective Jan. 15. He will leave the position he held first on an interim basis starting in late 2022, and
Chinese and U.S. flags flutter near The Bund, before U.S. trade delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019. Aly Song | Reuters BEIJING — President-elect Donald Trump plans to raise tariffs by an additional 10% on all Chinese goods coming into the U.S., according to a post on his
State Farm has signed USC star JuJu Watkins to an NIL deal as it increases its investment in women’s sports. State Farm is furthering its investment in women’s sports with two new deals. The insurance giant announced on Monday that it had signed college basketball star JuJu Watkins to an NIL, or “name, image and
Warren Buffett David A. Grogan | CNBC Warren Buffett, who has amassed a $150 billion personal fortune, made a case against creating “dynastic” wealth as he named three independent trustees to oversee his philanthropy following his children and donated an additional $1.1 billion in Berkshire Hathaway stock to his family’s four foundations. Instead of leaving his three children
Tommy | Digitalvision Vectors | Getty Images Dozens of the largest U.S. retailers and their bank partners jacked up interest rates on their store-branded cards to record highs in the months before the Federal Reserve began cutting rates, as the companies looked to pad profits during a stretch of sluggish sales. At least 50 companies