business news

Cathie Wood says deflationary forces could force a Fed policy reversal

Ark Invest’s Cathie Wood said Tuesday that the Federal Reserve is making a policy mistake by raising rates aggressively to tame inflation that she believes to be short-lived. “We are getting all kinds of catalysts, a list of them … which should give the Fed a pause,” Wood said in an investor webcast. “If not …

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Bill Ackman to wind up SPAC, return $4 billion to investors

Bill Ackman during a Bloomberg Television interview on November 1, 2017. Billionaire investor William Ackman, who had raised $4 billion in the biggest-ever special purpose acquisition company (SPAC), told investors he would be returning the sum after failing to find a suitable target company to take public through a merger. Christopher Goodney | Bloomberg | …

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Costco hot dogs are safe from price hikes despite inflation, CEO says

Some good news for inflation-weary Americans: There will be no price hike on Costco’s hot dogs. In an interview Monday on CNBC’s “Squawk on the Street,” CEO Craig Jelinek had a one-word answer when asked whether he would raise the signature food court item’s price: “No.” Costco has continued to put up strong sales, even …

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China factories are feeling some heat as US, Europe demand slows

Pictured here on June 24, 2022, are workers making umbrellas in a factory in Jinjiang city, Fujian province, China. Yuan He | Future Publishing | Getty Images European sales for Guangdong-based coffee machine company HiBrew have tapered off after a sterling run last year when pent-up global demand drove up purchases of Chinese consumer goods. …

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Ford tells drivers to park outside, expands recall for possible engine fires

A passing car carrier is reflected in the grille of a 2017 Ford Motor Co. F-150 pickup truck on display at the Sutton Ford Lincoln car dealership in Matteson, Illinois. Daniel Acker | Bloomberg | Getty Images Ford is expanding a recall of SUVs and telling owners to park them outside after a series of …

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S&P 500 futures are little changed after a late day rally and ahead of Fed minutes

Traders on the floor of the New York Stock Exchange, June 28, 2022. Source: NYSE US equities futures were little changed Tuesday night after the market staged a big midday reversal, with falling bond yields giving a boost to growth stocks, and ahead of a batch of economic data. Futures tied to the Dow Jones …

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German road traffic agency says 59,000 Tesla vehicles have software glitch

Tesla CEO Elon Musk speaks during the official opening of the new Tesla electric car manufacturing plant on March 22, 2022 near Gruenheide, Germany. Christian Marquardt | Getty Images Germany’s road traffic agency said it was recalling Tesla models Y and 3 because of a fault in the automatic emergency call system that affects 59,000 …

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NIO XPEV LI report strong deliveries for June as Covid wanes

Nio’s ES7 sports utility vehicle adds another competitor to Tesla’s Model X and Model Y in China. Nio Chinese electric vehicle maker Nio delivered nearly 13,000 vehicles in June, up 60% from a year ago as China’s auto industry continued to rebound after months of pandemic-related disruptions. Its total deliveries of 12,961 was Nio’s best …

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Sony unveils Inzone PC gaming gear as it looks beyond the PS5

Sony’s new PC gear will help it expand its reach in gaming beyond PlayStation. sony Sony is launching its own range of gaming-focused computer monitors and headsets, hoping to tap into the lucrative high-end PC gaming market as it looks beyond its main PlayStation console brand. Called Inzone, Sony’s PC gaming lineup features two monitors. …

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Rocket Lab launch of CAPSTONE begins NASA return to the moon

The company’s Electron rocket carrying the CAPSTONE mission lifts off from New Zealand on June 28, 2022. RocketLab Rocket Lab launched a small spacecraft bound for the moon from its New Zealand facility early Tuesday, a mission that represents firsts for both the company and the National Aeronautics and Space Administration. The company’s Electron rocket …

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