Business

US Federal Reserve Governor Michelle Bowman attends a “Fed Listens” event at the Federal Reserve headquarters in Washington, DC, on October 4, 2019.  Eric Baradat | AFP | Getty Images Federal Reserve Governor Michelle Bowman said Friday that it’s possible interest rates may have to move higher to control inflation, rather than the cuts her

NEW YORK — When Hyundai Motor launched its Genesis luxury brand domestically in 2016, many were skeptical the South Korean automaker — recognized mainly for budget vehicles at the time — knew what it was doing. Among the skeptics were auto industry veterans Randy Parker and Claudia Marquez. Both were working for Nissan’s luxury Infiniti

Pictured here is a Nio battery swapping station in Haikou, Hainan province, China, on May 9, 2023. Bloomberg | Bloomberg | Getty Images BEIJING — Chinese electric car company Nio has been expanding its battery swap partnerships in a bid to gain an edge on the infrastructure side of the EV ecosystem. Since November, Nio

In this photo illustration, a package of Opill is displayed on March 22, 2024 in San Anselmo, California.  Justin Sullivan | Getty Images CVS Health on Thursday said its drug plans will cover the first over-the-counter birth control pill in the U.S. at no cost for many health plan sponsors, a decision that could open

Image Source | Image Source | Getty Images Managing one’s personal finances can seem like a hodgepodge of never-ending checklists and rules of thumb. With all sorts of financial considerations vying for attention — budgeting, saving, paying off debt, buying insurance, being savvy shoppers — consumers may inadvertently overlook some important nuggets. Here are some

(L to R) Chief executive officer and chairman of The Walt Disney Company Bob Iger and Mickey Mouse look on before ringing the opening bell at the New York Stock Exchange (NYSE), November 27, 2017 in New York City.  Drew Angerer | Getty Images Disney shareholders on Wednesday reelected the media conglomerate’s full board, preliminary

U.S. Treasury Secretary Janet Yellen, center, waits with others to receive Chinese President Xi Jinping at the San Francisco International Airport on Nov. 14, 2023, ahead of Xi’s meeting with U.S. President Joe Biden. Bloomberg | Bloomberg | Getty Images BEIJING — U.S. Treasury Secretary Janet Yellen was scheduled to arrive in China on Thursday

Levi Strauss, which has long relied on wholesalers like Macy’s and Kohl’s to drive its business, is now doing nearly half of its sales through its own website and stores, the company said Wednesday when reporting fiscal first quarter earnings.  In the three months ended Feb. 25, direct-to-consumer sales made up a record 48% of

Federal Reserve Bank Chair Jerome Powell speaks during the Stanford Business, Government and Society Forum at Stanford University on April 03, 2024 in Stanford, California.  Justin Sullivan | Getty Images Federal Reserve Chairman Jerome Powell said Wednesday it will take a while for policymakers to evaluate the current state of inflation, keeping the timing of

The 2024 Buick Envista. GM DETROIT — General Motors on Tuesday reported a 1.5% decline in first-quarter U.S. vehicle sales compared to a year ago, as the overall auto industry normalizes after years of disruptions and volatile results. The Detroit automaker said the decline to 594,233 vehicles sold during the first three months of the

Roughly half of adults are stressed about personal finance, a new survey spanning various advanced economies found. D3sign | Moment | Getty Images At least half of adults in a range of major economies report being stressed about their personal finances, and say inflation is one of the main reasons. A significant number also say

Bob Iger, CEO of The Walt Disney Company, speaks during the grand opening ceremony of Shanghai Disney Resort’s Zootopia-themed attraction at Shanghai Disney Resort on December 19, 2023 in Shanghai, China. Visual China Group | Getty Images Disney’s largest shareholder, index-fund manager Vanguard, plans to support management over Nelson Peltz’s Trian Partners in Wednesday’s board

Cleveland Federal Reserve President Loretta Mester said Tuesday she still expects interest rate cuts this year, but ruled out the next policy meeting in May. Mester also indicated that the long-run path is higher than policymakers had previously thought. Her fellow policymaker, San Francisco Fed President Mary Daly, also said Tuesday she expects cuts this

Macy’s hasn’t yet shut the approximately 150 stores it plans to close. But retail competitors already smell opportunity. In recent interviews with CNBC, Target CEO Brian Cornell and Kohl’s CEO Tom Kingsbury said the department store’s decision to shrink its footprint gives them a chance to increase their own sales. Off-price chain T.J. Maxx could

A Xiaomi SU7 electric sedan is seen displayed at a regional HQ of Xiaomi in Nanjing in east China’s Jiangsu province.  Future Publishing | Future Publishing | Getty Images BEIJING — Shares of Chinese smartphone maker Xiaomi surged as much as 16% on Tuesday, the first trading day since the company launched its SU7 electric

The exterior of the Warner Bros. Discovery Atlanta campus is pictured after the Writers Guild of America began its strike against the Alliance of Motion Pictures and Television Producers, in Atlanta, Georgia, on May 2, 2023. Alyssa Pointer | Reuters Two Warner Bros. Discovery directors, Steven Miron and Steven Newhouse, are resigning following a U.S.

A pedestrian in the Lagos Island district of Lagos, Nigeria, on Monday, Nov. 14, 2022. Bloomberg | Bloomberg | Getty Images The Central Bank of Nigeria on Tuesday hiked its key interest rate by 200 basis points, as Africa’s largest economy looks to recover from a historic currency crisis and soaring inflation. The CBN announced

2024 Ford Mustang Source: Ford DETROIT — Ford Motor sees opportunity to grow Mustang sales as it becomes the last American muscle car with a traditional V8 engine, playing to generations of gearheads who’ve been drawn to the performance vehicles. The optimism comes after Mustang’s closest American competitors ended production of their muscle cars in

Wenjin Chen | Digitalvision Vectors | Getty Images Britain’s financial services regulator announced guidelines for financial services companies and social media influencers making memes about cryptocurrencies and other investments in a bid to tackle a rise in scams. The Financial Conduct Authority said in a statement Tuesday that any marketing for financial products — including

A BJ’s Wholesale Club is shown in Falls Church, Virginia, May 23, 2023. Win Mcnamee | Getty Images BJ’s Wholesale Club said Wednesday that it will open four clubs in the Southeast and one in the Midwest this year, as it tries to expand and attract members in other parts of the country in a