Moody’s retail analyst Charlie O’ Shea, who was in Bucks County, Pennsylvania, reported healthy traffic at local stores including consumer electronics chain Best Buy, clothing store Old Navy and retailer Kohl’s Corp. “The weather is cooperating and people here are out,” he said. The National Retail Federation is projecting that sales for November and December
Accelerating growth, alongside increasing price pressures, will be welcomed by policymakers at the ECB who last month took a step towards weaning the euro zone off loose money. “We’ve been of the view that the PMIs have been in quite hawkish territory for some time now. If you continue to get numbers this strong there
A balloon was blown into a tree and popped at the Macy’s Thanksgiving Day Parade, but no one was injured. An Associated Press reporter was on hand as a gust of wind carried a candy-cane balloon into a branch around 10:30 a.m. ET near the start of the parade route on Manhattan’s Upper West Side.
Sanjit Das | Bloomberg | Getty Images Workers hand-pick tea leaves at the Simulbari Tea Estate in Darjeeling district, West Bengal, India, on Dec. 7, 2015. Fernando’s prediction, if correct, could have severe consequences for the livelihoods of a massive population. Worldwide, an estimated 13 million people are involved in tea production, with the majority
Two Boeing 747-400s sold on an Alibaba-owned e-commerce website for $48 million, making the pair of jumbo jets the highest-value sale ever for Taobao. The two “Queens of the Sky” were from a bankrupt cargo company, Jade Cargo International, and sold to Chinese logistics company SF Express, according to the listing. The Intermediate People’s Court
CBS and PBS have both fired journalist Charlie Rose amid allegations of sexual misconduct. Rose, who hosts the interview program “Charlie Rose” on PBS and Bloomberg as well as “CBS This Morning,” was suspended Monday after a Washington Post report detailed multiple alleged sexual harassment incidents perpetrated by the journalist. CBS detailed the decision in
The Nintendo Switch gaming console, yoga pants, gold accessories and Sherpa hoodies are some of Cowen and Co.’s favorite holiday gifts this season. The firm also thinks 2017 is a time for smaller brands, such as men’s shirt maker Untuckit, athletic apparel brand Outdoor Voices and mattress retailer Casper, to win shoppers’ dollars. “Given the
Qilai Shen | Bloomberg | Getty Images Foxconn employees on the assembly line in Longhua, Shenzhen, China. The company reportedly employed students working overtime at its iPhone factory in Zhengzhou. Apple supplier Foxconn has been employing students illegally work overtime to help assemble the iPhone X, the Financial Times reported Tuesday. Six high school students
Uber said on Nov. 12 that a planned deal with a consortium led by SoftBank and Dragoneer Investment Group was moving forward. The consortium plans to inject $1 billion to $1.25 billion into Uber, and buy up to 17 percent of existing shares in a secondary transaction. SoftBank has also been a big investor in
Getty Images Don McGahn, general counsel for the Trump transition team, gets into an elevator in the lobby at Trump Tower, November 15, 2016. White House Counsel Don McGahn will be interviewed by investigators connected with Special Counsel Robert Mueller’s Russia probe some time in the next few weeks, CNBC learned Monday. The interview, which
Investigators working for special counsel Robert Mueller have issued a request to the Department of Justice for documents related to the firing of former FBI Director James Comey, ABC News reported late Sunday. The DOJ had already turned over a letter drafted by the president, but never sent, that “offered an unvarnished view of Mr.
Maria Contreras-Sweet, the former head of the U.S. Small Business Administration (SBA), has submitted an offer to acquire The Weinstein Co, a spokeswoman for the U.S. film and TV studio said on Sunday. Contreras-Sweet has put together a consortium of investors who have offered $275 million for The Weinstein Co, according to a source familiar
On the Wisconsin shore of the Menominee River a new 3,000-ton Freedom-class Littoral Combat Ship sits docked in the water. It’s already been delivered to the Navy by Lockheed Martin and it’s already active. A crew of 50 live aboard and have been conducting tests for six months on nearby Lake Michigan. Next month, the
Private-jet owners may benefit from a Republican tax bill before the Senatethat proposes exempting excise taxes on the management fees of private planes. Currently, a 7.5 percent tax is levied on each leg of commercial air travel. The bill would ensure that management costs of private planes, such as maintenance and storage, are not taxed.
The Navy said Friday an aircrew in the Pacific Northwest was responsible for creating lewd skydrawings. The incident comes amid raised awareness about sexual harassment in the workplace and even assaults. “The Navy apologizes to anyone who was offended by this unacceptable action,” a Navy spokesperson told CNBC in an email statement. The event happened
There are still plenty of questions about Tesla’s new Semi, but there is no doubt it is innovative and represents a number of firsts for the trucking industry, says one analyst. “To be honest we think the truck is a little bit of a game changer, not so much for Tesla but for the trucking
One longtime attendee who complained of sexual harassment reportedly told TED owner Chris Anderson that she would not be returning, the Post said. Anderson reportedly forwarded the email to his team, writing that he didn’t “want to overstate what’s here (until we can find more) but I do think we’ll need to think seriously about
President Donald Trump has started to pay for his own legal defense in connection with the Russia probe. The president is taking over the burden for the steep legal costs from the Republican National Committee and his campaign, which had been footing the bill. “The president elected to pay his own legal fees which was
Republicans are well on their way to delivering a large tax-cut package to President Donald Trump‘s desk in the next month or two. The problem is, most people hate it. The House passed its $1.4 trillion tax-cut package on Thursday while the Senate Finance Committee sent its version to the floor to be considered after
Throughout the twentieth century, business schools heralded General Electric (GE) as America’s most iconic company. It set the standards in leadership, organization, and effective management processes. The company delivered remarkable results over its storied history, evidenced by its stature as the only original component of the Dow Jones industrial average still on the list. Today
Ride-hailing apps are already popular with women in Saudi Arabia who, unable to drive until the ban is lifted, have to rely on being driven around by male relatives or using taxi services. But by taking on women drivers, Careem appears to be attempting to differentiate itself and localize its product. Uber, which operates in
Sessions, who was the first senator to endorse Trump’s presidential bid, said during his confirmation hearing that he “did not have communications with the Russians.” Following reports that Sessions had met twice with Kislyak during the campaign, Sessions issued a letter to Congress saying his previous testimony had been “correct,” but acknowledged the two incidents.
Barnes & Noble shares jumped as much as 16 percent Thursday afternoon after The Wall Street Journal reported an activist investor has proposed a deal to take the bookseller private. The stock was halted briefly on the news. Sandell Asset Management came to the retailer with a transaction that would value Barnes & Noble at
Yves Mersch, a board member at the European Central Bank (ECB), told CNBC that the central bank will be gradual with its return to normal monetary policy. Despite the improved macroeconomic conditions in the euro zone, the central bank believes that it cannot yet put an end to monetary stimulus. Thus it decided to extend
Airlines are warring over wealthy travelers, spending millions on plush first-class cabins that look more like flying hotel rooms than seats on a commercial airliner. But other carriers think the thriftiest travelers are worth billions. The blockbuster deal at the Dubai Air Show was a monster order Wednesday from a private equity firm for 430
Prashanth Vishwanathan | Bloomberg | Getty Images John Flannery, General Electric Maybe the worst has passed for General Electric, after the company’s stock dropped more than 12 percent in two days and it had its worst trading day since 2009. GE rebounded above $18 a share Wednesday after falling as low as $17.50 earlier in
More than half of NFL owners want to wait before extending Commissioner Roger Goodell’s contract because the timing could be a public relations disaster, sources told CNBC. The league is facing declining ratings and complaints from key sponsors amid the controversy over players kneeling during the national anthem to protest police brutality against blacks. A
As millennials step into becoming homeowners, Home Depot sees them ringing up more do-it-yourself projects at its stores. The retailer on Tuesday reported an impressive increase in same-store sales, fueled by more shoppers spending on items such as tools, lumber, garden accessories and flooring. Hurricanes Harvey and Irma, along with some U.S. wildfires, also boosted
Jack in the Box stock popped over 3 percent after a filing from Jana Partners on Tuesday revealed the firm bought 1.3 million shares in the quick-service restaurant chain. Jana’s stake in Jack in the Box was worth $134 million as of the end of September, according to the SEC filing. The firm is an
With 41 days to go, it seems Christmas has come early this year for many investors. The returns in 2017, at least for equity investors, are staggering. The DAX is higher by some 16 percent since the start of the year; the S&P 500 has rallied 15 percent with both markets hitting record after record;