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A BP gas station in Madrid, Spain. Sopa Images | Lightrocket | Getty Images LONDON — U.K. oil giant BP on Tuesday raised its dividend and boosted share buybacks after tripling second-quarter profits on robust refining margins and trading. The British energy major posted second-quarter underlying replacement cost profit, used as a proxy for net…
In this article BLK COIN The logo for Coinbase Global Inc, the biggest U.S. cryptocurrency exchange, is displayed on the Nasdaq MarketSite jumbotron and others at Times Square in New York, U.S., April 14, 2021. Shannon Stapleton | Reuters Share of Coinbase soared by 40% on Thursday after the crypto exchange announced a partnership with…
Morsa Images | Digitalvision | Getty Images While the Federal Reserve raises borrowing costs aggressively to tame stubbornly high inflation, remote work may be serving as an unlikely ally to the U.S. central bank. The Fed increased its benchmark interest rate by 0.75 percentage points last week, after having raised it by a similar amount…
The current version of the reconciliation bill—the Build Back Better Act—attempts to walk a fine (politically imposed) line: raising hundreds of billions of dollars from higher corporate taxes without raising the corporate tax rate. The centerpiece of this effort is the book minimum tax, a new alternative minimum tax applied to the financial statement income…
In this article LCID LCID Lucid Motors CEO Peter Rawlinson poses at the Nasdaq MarketSite as Lucid Motors (Nasdaq: LCID) begins trading on the Nasdaq stock exchange after completing its business combination with Churchill Capital Corp IV in New York City, New York, July 26, 2021. Andrew Kelly | Reuters Electric vehicle maker Lucid Group…
In this article UBER Uber reported a second-quarter loss on Tuesday but beat analyst estimates for revenue and posted $382 million in free cash flow for the first time ever. Shares of Uber closed the day up 18.9%. Here are the key numbers: Loss per share: $1.33, not comparable to estimates. Revenue: $8.07 billion vs….
Two thousand rupee notes on display with an Indian flag in the background. Manish Rajput | SOPA Images | LightRocket via Getty Images The Indian rupee has come under intense selling pressure due to a perfect storm of global headwinds which analysts say will continue to pummel the currency in the months ahead. In recent…
Baby Emma, David or Elizabeth? Not for American parents Caitlin and Luke McNeal. Rather than naming their children after grandparents, biblical figures or the British monarchy, the couple chose the names of places that hold meaningful travel memories for them. “Kinsale was when we lived in Ireland, and we vacationed in Kinsale and fell in…
zimmytws | iStock | Getty Images There are just 13 years before Social Security may not be able to pay full benefits, according to a recent annual report from the program’s trustees. In 2035, just 80% of benefits will be payable if Congress doesn’t fix the program sooner. Shoring up the program will generally mean…
Fg Trade | E+ | Getty Images Small business confidence has hit an all-time low as the majority of Main Street expects runaway inflation and a Federal Reserve that is incapable of engineering a soft landing for the economy. In fact, the majority of small business owners (57%) taking part in the CNBC/SurveyMonkey Small Business…
In this article WMT Exterior view of a Walmart store on August 23, 2020 in North Bergen, New Jersey VIEW press | Corbis News | Getty Images Walmart confirmed on Wednesday that it has begun to lay off corporate employees about a week after the company slashed its profit outlook and warned that consumers had…
In this article ABNB Brian Chesky, CEO and Co-founder of Airbnb Mike Segar | Reuters Airbnb beat Wall Street estimates for earnings and posted revenue that was in line with estimates for the second quarter. The company also announced a $2 billion share buyback program. Shares were down about 9% after hours, despite what appeared to…