Business

In this article FDX Shares of FedEx closed down more than 21% Friday after the company posted bleak preliminary earnings, citing weakening demand in global shipment volumes. The shipping giant late Thursday also withdrew its full-year guidance and announced significant cost-cutting measures. The drop in its share price wiped around $11 billion off the company’s
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In this article ORCL CHWY MSFT CRDO AMBA Microsoft Corporation headquarters at Issy-les-Moulineaux, near Paris, France, April 18, 2016. Charles Platiau | Reuters Stocks broke a three-week losing streak on Friday, but uncertainty looms over the horizon as the Federal Reserve prepares for its September meeting. The prospect of a sizable interest rate hike is
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In her ongoing crusade to give away at least half of her wealth, billionaire MacKenzie Scott is now gifting mansions to charity. Scott recently donated two of her homes — both in Beverly Hills, California — to the California Community Foundation (CCF), which provides grants to mission-based nonprofits in Los Angeles. The organization intends to
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The market’s violent reaction to hotter-than-expected inflation may usher in more losses. Investor Peter Boockvar believes Wall Street is coming to grips with a painful reality: Inflation isn’t moderating, so the Federal Reserve won’t pivot. “After next week’s rate hike, we’re going to start playing a dangerous game with the state of the economy. The
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In this article ORCL Oracle reported revenue that met expectations on Monday, while earnings and quarterly guidance came in below analysts’ estimates. Revenue climbed 18% in the quarter from a year earlier, thanks to a contribution from recently acquired software maker Cerner. Here’s how the company did: Earnings: $1.03 per share, adjusted, vs. $1.07 per
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In this article REGN RH TSLA CAT The Kroger supermarket chain’s headquarters is shown in Cincinnati, Ohio. Lisa Baertlein | Reuters Check out the companies making headlines in midday trading Friday. Zscaler — Zscaler surged 21.9% after reporting strong earnings in its most recent quarter. The company posted adjusted earnings of 25 cents per share
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Like many borrowers, Halid Hamade, 28, is poised to benefit — at least somewhat — from student loan forgiveness. After President Joe Biden announced he will forgive $10,000 in federal education debt and up to $20,000 for recipients of Pell Grants who meet the income threshold, Hamade said he was happy. Still, “it’s not enough,”
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Hinterhaus Productions After boosting paid parental leave during the pandemic, many companies are now cutting or reducing the popular employee benefit.   In 2022, organizations with paid maternity leave dropped to 35% from 53% in 2020, according to the Society for Human Resource Management’s employee benefits survey. And fewer than one-third, 27%, now provide paid paternity
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In this article BLK Larry Fink, chief executive officer of BlackRock Inc. Christopher Goodney | Bloomberg | Getty Images Billionaire businessman and former New York Mayor Michael Bloomberg and the investing behemoth BlackRock have both recently issued their own strongly worded missives defending investments in climate solutions and clean energy and saying that requesting climate-related
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Over 13 years of making deals on ABC’s “Shark Tank,” Kevin O’Leary says he’s noticed a common thread among the companies that have brought him the best investment returns. They’re mostly owned or run by women. “This is real data: 75% of my returns have come from companies run by women,” O’Leary tells CNBC Make
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A Social Security Administration office in Sebring, Florida. Jeff Greenberg | Universal Images Group | Getty Images Those who sought help from their local Social Security Administration office recently may have been met with a new challenge — long outside lines in the summer heat. That prompted congressional lawmakers to write to the federal agency
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