business news

Nasdaq records first seven week losing streak since 2002

Tech companies have not seen a selloff like since 2001 and the bursting of the dot-com bubble. The Nasdaq declined 3.8% this week, falling for a seventh straight week. It’s the longest losing streak for the tech-heavy index in 21 years. Inflation, rising interest rates, the war in Ukraine and pandemic lockdowns in China are …

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Jim Cramer says he likes these three smaller plays in battered retail sector

CNBC’s Jim Cramer said Friday that while the retail sector has had a rough week, there are still several winners that stand out against the deluge of stocks that tanked. “The big four aren’t the only retailers that reported this week, and surprisingly, some of the smaller players actually did pretty well,” the “Mad Money” …

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Cramer’s week ahead; Market needs obstacles resolved before a rally

CNBC’s Jim Cramer warned investors on Friday that a market rally has no chance of sustaining until the causes of the turmoil are resolved. “If we want the market to stage a meaningful comeback, we need China to reopen, Russia to withdraw from Ukraine, and the [Federal Reserve] to curb-stomp inflation with a 100-base point …

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Hyundai to invest $ 5.5 billion to build EVs and batteries in Georgia

The logo of Hyundai is shown at the #WeAreMobility fair at the 97th edition of the Brussels Motor Show on 18 January 2019, in Brussels. Dirk Waem | AFP via Getty Images Hyundai Motor on Friday confirmed plans to spend $ 5.54 billion to build its first dedicated electric vehicle and battery manufacturing facilities in …

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At Gary Vaynerchuk’s ‘VeeCon’, the only way in is an NFT ticket

Those seeking evidence of the recent crypto meltdown need not look to Minneapolis – at least for the next few days. This weekend, thousands of NFT-holders are descending upon the Twin Cities for Gary Vaynerchuk’s “VeeCon” – a four-day conference bringing together business leaders, entrepreneurs and Web3 evangelists to discuss digital transformation in everything from …

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CDC urges older Americans to get booster shots as hospitalizations soar

Shana Alesi administers a second COVID-19 booster shot to Army veteran Robert Hall at Edward Hines Jr. VA Hospital on April 01, 2022 in Hines, Illinois. Scott Olson | Getty Images The Centers for Disease Control and Prevention this week urged older Americans to get a Covid booster shot to increase their protection against the …

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McDonald’s exiting Russia after 32 years is the end of an era

Soviet customers stand in line outside the just opened first McDonald’s in the Soviet Union on January 31, 1990 at Moscow’s Pushkin Square. Vitaly Armand | Afp | Getty Images It was 4 am and a trickle of Russians had already started lining up outside the building in the freezing winter cold, hours before opening …

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Recession is ‘likely,’ former SEC chief economist says

By almost every measure, the US economy made a stunning recovery after the coronavirus pandemic spurred mass shutdowns and layoffs nationwide. The labor market has added back millions of jobs and wages have gone up substantially, even among lower-paying positions. But soaring inflation and rapidly rising interest rates have most Americans worried that the good …

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