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May 24, 2022

Business

Wendy’s shares surge as Trian, its largest shareholder, explores potential deal

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CNBC – For more and to sign up click here A drive-thru window of a Wendy’s restaurant in Peoria, Illinois. Daniel Acker | Bloomberg | Getty Images Shares of Wendy’s surged roughly 15% in extended trading Tuesday after a filing revealed hedge fund Trian Partners, its largest shareholder, is exploring......

FTC launches investigation into infant formula makers over nationwide shortage

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CNBC – For more and to sign up click here A woman shops for baby formula at Target in Annapolis, Maryland, on May 16, 2022, as a nationwide shortage of baby formula continues due to supply chain crunches tied to the coronavirus pandemic that have already strained the countrys formula......

Nordstrom raises full-year outlook as first-quarter sales top expectations

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CNBC – For more and to sign up click here Nordstrom on Tuesday reported fiscal first-quarter sales ahead of analysts’ expectations and hiked its full-year outlook, citing momentum in the business as shoppers visited the company’s department stores to refresh their closets with designer brands and shoes. Nordstrom now sees......

Safety consultant goes viral for leaving Shell after a decade, says ‘core business’ is dangerous

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CNBC – For more and to sign up click here Shell officially changed its name on Friday, ditching “Royal Dutch”, which has been part of its identity since 1907. Rick Wilking | Reuters At 8:27 a.m. on Monday morning, May 23, Caroline Dennett emailed 1,400 executives at the oil and......

U.S. bars Russia from paying bondholders through American banks, increasing default risk

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CNBC – For more and to sign up click here The Kremlin towers and Ivan the Great Cathedral in Moscow. Kirill Kudryavtsev | Afp | Getty Images The Biden administration will ban Russia’s government from paying bondholders through American banks starting Wednesday morning, the Treasury Department said. The move increases......

U.S. Navy climate plan calls to curb emissions, electrify vehicle fleet

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CNBC – For more and to sign up click here U.S. Navy sailors operate onboard the Nimitz-class aircraft carrier USS Harry S. Truman (CVN 75) in the Adriatic Sea, off Split, Croatia February 14, 2022. Milan Sabic | Reuters The U.S. Navy on Tuesday unveiled a climate action plan focused......

Here’s why major cities may still be worth their high cost of living

CNBC Real Estate
Many renters believe that a cost-of-living crisis is brewing in America’s major cities. New York City is showing up as a hotspot of rent inflation. The average rent for 1-bedroom apartments in Manhattan rose to $3,995 a month in May 2022 — a 41% increase from one year ago, according......

Nokia CEO says 6G will be here by 2030 — but you might not access it via your smartphone

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CNBC – For more and to sign up click here Mehdi Bennis is an associate professor at the University of Oulu in Finland researching 6G. Elizabeth Schulze | CNBC Nokia CEO Pekka Lundmark expects 6G mobile networks to be in operation by the end of the decade but he doesn’t......

Best Buy shares rise after electronics chain’s sales top expectations

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CNBC – For more and to sign up click here Customers shop at a Best Buy store on August 24, 2021 in Chicago, Illinois. Best Buy reported an increase in second-quarter sales of nearly 20% as consumers purchased electronics to adjust to lifestyle changes related to the ongoing pandemic. Scott......

Walmart expands its drone-delivery service to reach 4 million households

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CNBC – For more and to sign up click here Walmart is expanding drone deliveries to select stores in six states. That will make it possible for more customers to get diapers, groceries or more delivered by air. Walmart Walmart is expanding drone delivery across six states this year, making......

Electronics are set to get even more expensive as chip giants hike their prices

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CNBC – For more and to sign up click here A man walks past TSMC’s logo at the company’s headquarters in Hsinchu, Taiwan. Sam Yeh | AFP | Getty Images Products that rely on semiconductors are set to get even more expensive as chip foundries prepare to increase their prices,......

Judge blocks auction of Judy Garland’s ‘Wizard of Oz’ dress by Catholic University pending outcome of lawsuit

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CNBC – For more and to sign up click here A blue and white checked gingham dress, worn by Judy Garland in the “Wizard of Oz,” hangs on display, Monday, April 25, 2022, at Bonhams in New York. Katie Vasquez | AP A federal judge in New York blocked Tuesday’s......

SpaceX president defends Elon Musk over sexual misconduct claims: ‘I believe the allegations to be false’

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CNBC – For more and to sign up click here SpaceX CEO Elon Musk participates in a postlaunch news conference inside the Press Site auditorium at NASA’s Kennedy Space Center in Florida on May 30, 2020, following the launch of the agency’s SpaceX Demo-2 mission to the International Space Station.......

Stocks making the biggest moves midday: JPMorgan Chase, Gap, VMWare & more

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CNBC – For more and to sign up click here People pass the JP Morgan Chase & Co. Corporate headquarters in the Manhattan borough of New York City. Mike Segar | Reuters Check out the companies making headlines in midday trading. JPMorgan Chase – JPMorgan rose 6.2% after the bank......

Airbnb is closing its domestic business in China, sources say

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CNBC – For more and to sign up click here Nathan Blecharczyk, co-founder and chief strategy officer of Airbnb Inc., speaks during a news conference in Tokyo, Japan, on Thursday, June 6, 2019. Akio Kon | Bloomberg | Getty Images Airbnb is closing its domestic business in China, according to......

Photos: Bangladesh and India endure catastrophic floods

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CNBC – For more and to sign up click here Vehicles stuck in the floodwater in Sylhet, Bangladesh, May 17, 2022. Many roads have been submerged due to continuous high rains for several days. Md Rafayat Haque Khan | Eyepix Group | Future Publishing | Getty Images Severe floods in......

CDC officials sound alarm for gay and bisexual men as monkeypox spreads in community

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CNBC – For more and to sign up click here A section of skin tissue, harvested from a lesion on the skin of a monkey, that had been infected with monkeypox virus, is seen at 50X magnification on day four of rash development in 1968.  CDC | Reuters The Centers......

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