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Fed Chair Jerome Powell said the U.S. economy has not seen inflation come back to the central bank's goal, pointing to the further unlikelihood that interest rate cuts are in the offing anytime soon."The recent data have clearly not given us greater confidence, and instead indicate that it's likely to take longer th...

Job creation in March easily topped expectations in a sign of continued acceleration for what has been a bustling and resilient labor market.Nonfarm payrolls increased 303,000 for the month, well above the Dow Jones estimate for a rise of 200,000 and higher than the downwardly revised 270,000 gain in February, the L...

The Dow Jones Industrial Average ended Thursday down 530.16 points, or 1.35%, marking its fourth day of losses. The S&P 500 closed 1.23% lower, and the Nasdaq Composite finished the day down 1.4%.All three indexes are on track to end the week with losses.— Pia SinghStorage tanks are seen at Marathon Petroleum's Los ...

Shares in Trump Media & Technology Group fell sharply after the company reported a net loss of $58 million in 2023.The newly publicly traded social media company of former President Donald Trump had total revenue of just $4.1 million last year, according to a filing with the Securities and Exchange Commission.A year...

Bruce Carnegie-Brown, chair of insurance giant Lloyd's of London, told CNBC that the payout from the Baltimore bridge collapse and its knock-on effects could be "the largest-ever marine insured loss."He added that it would still be within the "realistic disaster scenario planning" of the insurance and reinsurance in...

Saudi Aramco CEO Amin Nasser said the current energy transition strategy is failing.The world should give up on the idea of phasing out oil and gas, Nasser said.The CEO called for a reset of the strategy that focuses on reducing emissions, not phasing out oil and gas. Amin Nasser, CEO of Saudi Aramco, speaks at the ...

Reuters and The Wall Street Journal reported on Wednesday that the bank was looking to outside investors for cash to shore up its balance sheet.Shares of the bank were already down sharply the day before the reports.A cash infusion would be the latest development in a turbulent start to the year for NYCB, which repl...

The nation's debt now stands at nearly $34.4 trillion, as of Wednesday.Since June, the last two $1 trillion jumps occurred in about 100 days.The U.S. Treasury building in Washington, D.C., on March 13, 2023.Al Drago | Bloomberg | Getty ImagesThe debt load of the U.S. is growing at a quicker clip in recent months, in...

Saudi state-controlled Aramco suspended its capacity expansion plans because of the green transition, Saudi energy minister Abdulaziz bin Salman said Monday."I think we postponed this [Aramco capacity] investment simply because … we're transitioning. And transitioning means that even our oil company, which used to b...

A host of companies including Ecosia, Qwant and Shibsted have signed an open letter accusing Big Tech "gatekeepers" of not doing enough to engage effectively with them and others.The firms have called on the European Commission and the European Parliament to do everything in their power to ensure the gatekeepers com...

The U.S. Securities and Exchange Commission on Wednesday approved rule changes to allow the creation of bitcoin exchange-traded funds in the U.S., a long-awaited move that will give regular investors access to the controversial and volatile cryptocurrency.The decision will likely lead to the conversion of the Graysc...

December's jobs report showed employers added 216,000 jobs for the month while the unemployment rate held at 3.7%. That compared with respective estimates of 170,000 and 3.8%.The hiring boost came from a gain of 52,000 in government jobs and another 38,000 in health care-related fields such as ambulatory health-care...