China’s consumer prices rise as Covid prompts food stockpiling

Fresh vegetable prices rose by 24% year-on-year in April as consumers stocked up to prepare for potential stay-home orders. Pictured here is a delivery driver for Alibaba’s Hema Fresh supermarket in Beijing on May 10, 2022. Jade Gao | Afp | Getty Images BEIJING — China’s consumer and producer prices rose more than expected in … Read more

US businesses in China cut revenue forecasts, investment plans

Truck drivers, such as the one pictured here in Shanghai in late April, typically need to show valid negative virus tests in order to move goods between cities in China. The American Chamber of Commerce in China said members have reported varying implementation of Covid controls depending on city and province. Vcg | Visual China … Read more

Uber to cut down on costs, treat hiring as a ‘privilege’: CEO email

Above will cut back on spending and focus on becoming a leaner business to address a “seismic shift” in investor sentiment, CEO Dara Khosrowshahi told employees in an email obtained by CNBC. “After earnings, I spent several days meeting investors in New York and Boston,” Khosrowshahi said in the email, which was sent out late … Read more

Consider these signs when deciding whether to Wade Into the Market

Text size Some strategists see more pain ahead for global stocks even as they plan for better days. Dreamstime The hesitancy to buy this dip in global stocks is real. Whether it’s concern that the Federal Reserve isn’t going to save the day or the depth of the uncertainty looming overhead, several strategists see more … Read more

Peloton, Under Armour, Monster Beverage and more

A Peloton exercise bike is seen after the ringing of the opening bell for the company’s IPO at the Nasdaq Market site in New York City, New York, US, September 26, 2019. Shannon Stapleton | Reuters Check out the companies making headlines in midday trading Friday. peloton — Shares of Peloton dropped 7.7% after The … Read more

Oil Markets Are Bracing For Further Supply Disruptions

Oil markets are once again on the edge about potential supply disruptions. The continued efforts by the EU to ban Russian oil imports and the renewed efforts by the US Senate to pass the NOPEC bill would both result in supply disruptions. Global Energy Alert: Do you know why May 9th is such an important … Read more

JetBlue Airways at a crossroads after Spirit rejects its takeover offer

A JetBlue airliner lands past a Spirit Airlines jet on taxi way at Fort Lauderdale Hollywood International Airport on Monday, April 25, 2022. (Joe Cavaretta/Sun Sentinel/Tribune News Service via Getty Images) Joe Cavaretta | Sun Sentinel | Getty Images JetBlue Airways is at a quarter-century crossroads. The airline’s first flight took off from New York … Read more

Open to close after Wall Street sell off

The pan-European Stoxx 600 fell 1% in early trade, with retail stocks shedding 1.5% to lead losses as almost all sectors and major bourses slid into negative territory. Oil and gas stocks gained 0.7%. the Dow Jones Industrial Average plunged more than 1,000 points and the Nasdaq Composite fell nearly 5% on Thursday, erasing Wednesday’s … Read more

China’s Covid lockdowns are hitting more than just Shanghai, Beijing

Nationwide, about 327.9 million people in more than 40 cities are affected by the latest lockdowns, Nomura’s Chief China Economist Ting Lu estimated Wednesday. Pictured here from February is a closed shopping mall in Suzhou with red banners proclaiming the need to fight the virus. Sopa Images | Light Rocket | Getty Images BEIJING — … Read more

Dow tumbles 1,000 points for the worst day since 2020, Nasdaq drops 5%

Stocks pulled back sharply on Thursday, completely erasing a rally from the prior session in a stunning reversal that delivered investors one of the worst days since 2020. The Dow Jones Industrial Average lost 1,063 points, or 3.12%, to close at 32,997.97. The tech-heavy Nasdaq Composite fell 4.99% to finish at 12,317.69, its lowest closing … Read more