Elon Musk Does Not Fear A Recession

Elon Musk Does Not Fear A Recession

Elon Musk makes the news. He is everywhere. The chief executive officer of premium electric vehicle maker Tesla (TSLA) – Get Tesla Inc Report is somewhat reminiscent of former Republican President Donald Trump when the latter was in office. Like Trump, Twitter is Musk’s main communication channel. Like the real estate developer, the tech tycoon … Read more

Allianz division agrees to pay $6 billion for defrauding teachers, religious groups and foundations

Allianz division agrees to pay $6 billion for defrauding teachers, religious groups and foundations

The settlements with the US Department of Justice and US Securities and Exchange Commission are among the largest in corporate history. The company and three of its portfolio managers agreed to plead guilty to federal fraud charges as part of the settlements. The Justice Department said Tuesday that Allianz Global Investors failed to stop a … Read more

US pilot shortage forces airlines to cut flights, scramble for solutions

US pilot shortage forces airlines to cut flights, scramble for solutions

Airline pilots walk through the Ronald Reagan Washington National Airport on December 27, 2021 in Arlington, Virginia. Anna Moneymaker | Getty Images The United States is facing its worst pilot shortage in recent memory, forcing airlines to cut flights just as travelers are returning after more than two years of the Covid-19 pandemic. The crisis … Read more

5 things to know before the stock market opens Friday, May 13

Twitter, SeaWorld, Shopify and more

Here are the most important news, trends and analysis that investors need to start their trading day: 1. Dow futures pop after the 30-stock average’s six-session losing streak The Twitter logo and trading information is displayed as a trader works on the floor of the New York Stock Exchange (NYSE) in New York City, US, … Read more

Ford, General Motors, Tapestry and more

Ford, General Motors, Tapestry and more

Take a look at some of the biggest movers in the premarket: Ford (F), General Motors (GM) – Ford fell 2.8% in premarket trading while GM slid 3.4% after Wells Fargo double-downgraded both stocks to “underweight” from “overweight.” Wells Fargo said 2022 could represent a profit peak for legacy automakers, with the shift toward electric … Read more

China may chalk up more debt as lockdowns hit the economy

China may chalk up more debt as lockdowns hit the economy

Covid lockdowns have hit China’s economy, and the Asian giant might have to issue more debt to continue meeting its growth target. Kevin Frayer | Getty Images News | Getty Images China may have to issue more debt as it tries to keep growing in the face of Covid lockdowns that are stunting its economy. … Read more

McDonald’s franchisees worry new grading system will alienate workers

McDonald's franchisees worry new grading system will alienate workers

McDonald’s franchise owners are expressing concern and frustration over a new grading system the fast food giant is planning to roll out early next year, with some saying it is poor timing due to unprecedented pressures in the workforce. The company plans to enact the system, called Operations PACE, which stands for Performance and Customer … Read more

Dallas Federal Reserve names Lorie Logan new president to succeed Robert Kaplan

Dallas Federal Reserve names Lorie Logan new president to succeed Robert Kaplan

The Dallas Federal Reserve has named a new president to succeed its former one, who resigned last year amid a controversy over stock trading. Lorie K. Logan will serve as head of the central bank branch, according to an announcement Wednesday. Central bank watchers know Logan’s name well, as she currently serves as head of … Read more

Wendy’s, Krispy Kreme, Perrigo and more

Wendy's, Krispy Kreme, Perrigo and more

Check out the companies making headlines before the bell: Wendy’s (WEN) – Wendy’s reported adjusted profit of 17 cents per share, 1 cent below estimates, with revenue and same-store sales also missing analyst forecasts. The restaurant chain is seeing a negative impact from higher costs for supplies and labor, and its shares slide 3.4% in … Read more