Anheuser-Busch InBev (BUD) may still be recovering from its hangover, but shares of the Bud Light parent are up roughly 5% on Tuesday after announcing a $1 billion buyback program. The buyback will be executed over the next 12 months, and begin “almost immediately,” CFO Fernando Tennenbaum said on a […]
Finance
The government ended its cross-examination of Sam Bankman-Fried Tuesday, concluding a contentious clash in the trial’s final days as the FTX co-founder tried to convince a jury he didn’t steal billions of customer funds from his own cryptocurrency exchange. The 31-year-old faces decades in prison on seven criminal fraud charges. […]
The Department of Education delivered its largest enforcement fine ever, charging Grand Canyon University $37.7 million for “deceptive” practices. Federal Student Aid (FSA) — part of the Department of Education — found that GCU lied to students about the cost to attend doctorate programs, which was consistently lower than 98% […]
JPMorgan Chase CEO Jamie Dimon will begin to sell one million shares of the bank he runs next year, the company said Friday in a filing. The plan sparked concern that Dimon, 67, could be contemplating retirement. Dimon is arguably the country’s top banker. He has led JPMorgan since 2005, […]
The ‘Rhapsody of the Seas’ cruise liner carrying US citizens leaves the Israeli port of Haifa to be evacuated to the Mediterranean island of Cyprus on October 16, 2023, amid the ongoing battles between Israel and the Palestinian Islamist group Hamas. Aris Messinis | AFP | Getty Images Some of […]
No bad blood here! Taylor Swift’s concert film delivers big numbers “Taylor Swift: The Eras Tour” movie debuted at number one at the box office over the weekend, nabbing an estimated $95 to $97 million in domestic ticket sales, according to AMC (AMC). Industry estimates have come in slightly lower, […]
Solar panels at the ENGIE Sun Valley Solar project in Hill County, Texas, on March 1, 2023. Mark Felix | AFP | Getty Images Solar stocks tumbled on Friday after solar product manufacturer Solaredge warned that demand in Europe has significantly weakened, furthering battering sentiment on the renewable energy sector […]
Today’s housing market is a toxic mix of high mortgage rates, high prices, tight supply and strangely strong pent-up demand — and it’s scaring off buyers and sellers alike. Prices were already high, driven by supercharged demand during the height of the Covid-19 pandemic. Now the popular 30-year fixed mortgage […]
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Israel plans to cut ties with the Gaza Strip when its war with Hamas is over, officials said on Friday, as the country’s troops prepare for an expected ground offensive. […]
Airline stocks are going through some turbulent times. US carriers like American Airlines (AAL), United (UAL), and JetBlue (JBLU) are sputtering into the fourth quarter after losing their gains from the first half of the year — when shares were flying high on “revenge travel.” Even Delta (DAL), the only […]
Frightened residents fled Gaza City after Israel told more than 1mn people to leave the area in a move Palestinians denounced as a “forced displacement” and which the UN said would be “calamitous”. Thousands were on the move on Friday, departing their homes in overcrowded minibuses, in cars and on […]
The US urged Israel to exercise restraint as Washington and Saudi Arabia stepped up efforts to prevent the war with the Palestinian militant group Hamas from spiralling into a regional conflict. US secretary of state Antony Blinken called on Israel to take steps to avoid civilian casualties at a press […]
Stocks wrapped the session and the week with mixed results on Friday, after big US banks kicked off earnings season with upbeat profits, and as the developing conflict in the Middle East kept investors on watch. The Dow Jones Industrial Average (^DJI) was the sole index to end the day […]
That chicken burrito with guacamole is soon going to cost a little extra, but that isn’t likely to deter loyal Chipotle fans. After announcing a pause earlier this year, the global burrito chain plans to raise prices again for the fourth time in two years. Its chief corporate affairs officer […]
WK Kellogg Co (KLG) is determined to take Frosted Flakes into the future. On Monday, the company behind cereal brands such as Froot Loops, Mini-Wheats, and Rice Krispies split from Kellogg’s snacking business — now known as Kellanova (K) — which makes Cheez-It crackers and Pop-Tarts among other treats. The […]
For software stocks, as Olivia Rodrigo would say, it’s brutal out here. The tech-heavy Nasdaq declined nearly 5% in the past month, closing on Thursday at 13,219.83, and software has especially been in the crosshairs. Salesforce (CRM) and Adobe (ADBE) stocks have seen declines of more than 8% over the […]
If the Grinch is going to steal Christmas from retailers, pin the blame on the restart of student loan payments. Already, the resumption of payments on Oct. 1 appears to be weighing heavily on the minds of consumers with outstanding student debt. About 40% of people with student loans expect […]
Bitcoin has dropped close to 40% since Warren Buffett described it as ‘rat poison squared’: Here are 3 stocks he invested in that outperformed crypto Billionaire Warren Buffett memorably described Bitcoin as “rat poised squared” during a shareholder meeting in April 2022. Bitcoin was trading near $40,000 at the time. […]
Stay informed with free updates Simply sign up to the Romania myFT Digest — delivered directly to your inbox. A gas project in the Black Sea is caught up in a diplomatic spat over Austria’s opposition to allowing Romania into Europe’s border-free Schengen area. Austrian energy company OMV is a […]
Don’t feel at ease because today is the final trading day in an ugly September for markets. On the contrary, put yourself on heightened alert — an easy case could be made that October may be equally as glum for stocks. But first those grim facts. The S&P 500 (^GSPC) […]