The Dow plunged over 480 points Monday as investors remain fearful the Federal Reserve could drive the economy into a recession with additional interest rate hikes. Dory Wiley, president and CEO of Commerce Street Holdings, joined CBS News' Lilia Luciano on the implications of the Fed's next move.
Tesla said it would "accelerate" the launch of new models next year, including lower-cost cars, countering reports earlier this month it had scraped those plans.
After Congress approved billions of extra funding for tax compliance, the Internal Revenue Service pledged it would get tougher on rich taxpayers and corporations while avoiding extra scrutiny of middle-class households.
Tesla announced worse-than-expected first-quarter earnings and revenue Tuesday, with the EV giant reporting its lowest quarterly EPS since 2021. Tesla reported Tuesday that Q1 earnings fell 47% to 45 cents per share. Analysts projected Q1 earnings falling more than 42% to 49 cents per share with sales declining nearly 5% to $22.22 billion.
Six teams managing nearly $15 billion in total assets quit JPMorgan Chase’s brokerage unit to join competitors last Friday. Here’s what may have triggered their departures.
Unit sales appear considerably below my estimates.
In response to California's new $20 minimum wage law, fast food franchises are being forced to rethink their business strategies to stay afloat. Scott Rodrick, who owns 18 McDonald's franchises in the state, is considering measures to manage the increased labor costs without resorting to layoffs, which he sees as a last resort. Don't Miss: 82% of Americans aren’t using this government secured 5% passive income stream, are you one of them? The average American couple has saved this much money for
Sam Bankman-Fried has inked a settlement agreement with a group of FTX customers who have agreed to drop their class action lawsuit against him in exchange for his help going after celebrity promoters of the collapsed exchange.
JPMorgan's CEO is concerned the US economy could be in for a repeat of the stagflation that hampered the country during the 1970s.
Texas Instruments beat Wall Street's targets for the first quarter and guided above views for sales and in line for earnings for Q2.
Among Microsoft, Apple, Nvidia, Alphabet, Amazon, Meta Platforms, and Tesla, there are two former highfliers that are no longer magnificent.