This is the real reason why American Express gives out such big rewards

This is the real reason why American Express gives out such big rewards

Armed with impressive rewards and a loyal customer base, AmEx is a giant in the credit card industry. The company’s revenue is up more than 32% since 2017, adjusted for inflation, and the company’s stock has shown resilience and growth in a tumultuous market. “Discount revenue,” or fees charged to merchants who accept their cards, … Read more

What is a rolling recession and are we in one? Experts explain

What is a rolling recession and are we in one?  Experts explain

By most standards, the US economy is in solid shape. Although the first half of 2022 started with negative growth, a strong labor market and resilient consumer helped turn things around and give hope for the year ahead. Gross domestic product, which indicates the overall health of the economy, rose more than expected in the … Read more

Intel, Chevron, American Express, Silvergate and more

Intel, Chevron, American Express, Silvergate and more

Intel said on April 5, 2022 that it has suspended all business activities in Russia. Paco Freire/Sopa Pictures | Rocket | Getty Images Check out the companies making headlines before the bell: Intel — The chipmaker suffered a 9% loss in its shares in early morning trading after its latest financial results missed analyst estimates … Read more

Energy giants break annual profit records

Energy giants break annual profit records

US President Joe Biden previously singled out Exxon Mobil because it made “more money than God” last year. Brandon Bell | Getty Images Some of the world’s largest oil and gas companies are on the cusp of record annual profits and extraordinary earnings after a year of volatile fossil fuel prices amid Russia’s attack on … Read more

investors are waiting for the main inflation report

investors are waiting for the main inflation report

Treasury bond yields rose on Friday as investors awaited key inflation data and assessed the outlook for the US economy after Thursday’s gross domestic product report came in better than expected. At 4:35 am ET, the return on the benchmark 10 year treasury rose more than four basis points to 3.5367%. The 2 years treasury … Read more

Microsoft, ArcelorMittal back clean steel MIT spinout Boston Metal

Microsoft, ArcelorMittal back clean steel MIT spinout Boston Metal

Removing molten iron from a pilot scale plant at the Boston Metal plant in Woburn, Massachusetts. Photo courtesy of Boston Metal The $1.6 trillion steel industry is the backbone of the modern world. It is also a major contributor to global warming, accounting for between 7% and 9% of global carbon dioxide emissions, according to … Read more

Asia-Pacific stocks rise as Tokyo inflation approaches a 42-year high

Asia-Pacific stocks rise as Tokyo inflation approaches a 42-year high

Adani shares continue to fall for the second day in a row with losses Shares of Adani Group companies continued to take sharp losses for a second consecutive trading session in India after short-seller firm Hindenburg announced its short position in the conglomerate’s companies earlier this week. Adani refuted the allegations in two separate statements, … Read more

Adani shares fall further as it weighs legal action against Hindenburg

Adani shares fall further as it weighs legal action against Hindenburg

Adani Group Chairman and Founder Gautam Adani at the News18 Rising India Summit on February 25, 2019 in New Delhi, India. Since becoming a billionaire in 2008, Adani is now one of the richest people in the world, with a fortune of $113 billion, according to the Bloomberg Billionaires Index. Hindustan Times | Hindustan Times … Read more

China looks past Covid as tourist bookings for the Lunar New Year soar

China looks past Covid as tourist bookings for the Lunar New Year soar

BEIJING — People in China move past the pandemic and travel, preliminary data for the Lunar New Year holiday show. “The pent-up demand is being released as many people rush to scenic spots, watch fireworks displays, and barge into restaurants and hotels,” Ting Lu, Nomura’s chief economist, said in a report Thursday. China’s Covid ‘exit … Read more

Stock futures are trading lower after the Dow posts a five-day profit streak

Stock futures are trading lower after the Dow posts a five-day profit streak

A trader works on the trading floor of the New York Stock Exchange (NYSE) in New York City, January 26, 2023. Andrew Kelly | Reuters Stock futures fell Friday morning as investors looked forward to earnings and economic reports due later in the day. Futures linked to the Dow Industrial Average fell 42 points, or … Read more