U.S. stock index futures were flat during overnight trading Wednesday, as the S&P 500 prepares to wrap its worst first half in decades. Futures contracts tied to the Dow Jones Industrial Average added 0.1%. S&P 500 futures gained 0.07%, while Nasdaq 100 futures were flat. During regular trading the Dow advanced...
Spirit Airlines on Wednesday delayed shareholder vote on its proposed merger with Frontier Airlines until July 8, hours before a meeting scheduled for Thursday so it can further discuss options with Frontier and rival suitor JetBlue Airways. It is the second time Spirit has delayed a vote on its planned...
The U.S. Federal Trade Commission has sued Walmart, alleging the company had allowed scam artists to use its money transfer services for fraud that cost consumers “hundreds of millions of dollars.” Walmart, which offers some financial services, acts as an agent for money transfer services such as MoneyGram and Western...
JPMorgan Chase and Citigroup said Monday that increasingly stringent capital requirements forced the firms to keep their dividend unchanged while rivals announced bumps to their quarterly payouts. Bank of America said that it was raising its quarterly dividend by 5% to 22 cents per share. Morgan Stanley said it was...
CNBC’s Jim Cramer on Monday told investors that while the market has yet to overcome the challenges threatening to create a recession, FedEx stock might be able to weather the turbulence. “You might think FedEx would be a helpless victim of high gas prices, potential e-commerce plateau, a -mandated slowdown....
Prominent crypto hedge fund Three Arrows Capital has defaulted on a loan worth more than $670 million. Digital asset brokerage Voyager Digital issued a notice on Monday morning, stating that the fund failed to repay a loan of $350 million in the U.S. dollar-pegged stablecoin, USDC, and 15,250 bitcoin, worth about $323...
Sheetz convenience stores will lower its price for unleaded 88 gasoline to $3.99 a gallon through the Fourth of July holiday. Sheetz said it is helping to “reduce pain at the pump.” The lower prices are “effective immediately.” The average price for a gallon of unleaded 87 gas in Pennsylvania today...
Russia has $100 million in foreign debt payments due Sunday night, as a 30-day grace period ends. If bondholders don't receive payment on time, Russia will see its first default since 1998. Last month, the US Treasury had let a key sanctions exemption expire, which further squeezed Moscow's financial abilities. As the...
Democratic California Gov. Gavin Newsom is close to striking a deal with the state legislature that would give taxpayers hundreds of dollars in gas rebates. The proposed plan, supported by both Newsom and state legislative leaders, would hand out rebates to taxpayers making under $250,000. Negotiations are expected to run into...
El Salvador bet its economic salvation on bitcoin, but so far the gamble isn’t paying off like President Nayib Bukele hoped it would. The government’s crypto coffers have been cut in half, bitcoin adoption nationwide isn’t really taking off, and crucially, the country needs a lot of cash, fast, to...
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