Markets

China's consumer prices climb as Covid prompts food stockpiling

China’s consumer prices climb 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 | dpa | Getty Images BEIJING — China’s consumer and producer prices rose more than expected in …

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Bitcoin (BTC) investors panic as terraUSD (UST) sinks below $1 peg

Bitcoin (BTC) investors panic as terraUSD (UST) sinks below $1 peg

Bitcoin is now down 50% from its November all-time highs. Arthur Widak | Nurphoto | Getty Images Investors in bitcoin are in panic mode as the controversial terraUSD stablecoin slips further from its intended $1 peg. TerraUSD, or UST, sank below 70 cents for the first time late Monday, as holders continued to flee the …

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US businesses in China cut revenue forecasts, investment plans

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 …

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AMC Scores an Earnings Beat at a Difficult Time for Meme Stocks

AMC Scores an Earnings Beat at a Difficult Time for Meme Stocks

AMC Entertainment shares, along with other meme stocks, haven’t been spared during the broader market rout of the last few weeks. Mandel Ngan/AFP via Getty Images Text size AMC Entertainment Holdings stock jumped after the move theater firm beat Wall Street’s expectations for the first quarter. The company reported a non-GAAP net loss of 52 …

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Uber, Amazon, and Facebook Have Slowed Hiring.  Why Others Could Follow.

Uber, Amazon, and Facebook Have Slowed Hiring. Why Others Could Follow.

Text size Uber is one of multiple tech companies slowing down hiring and cutting back on spending. Drew Angerer/Getty Images facebook parent Meta Platforms , ride-share service provider Uber Technologies and tech and online retail giant Amazon.com have announced hiring slowdowns in recent weeks. It’s all about keeping down costs, according to one economist. Peter …

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

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

Uber 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 …

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Consider These Signs When Deciding Whether to Wade Into the Market

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 …

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