LONDON – Grenke, a German financial services provider, is under investigation after a report by a short-selling investor research company alleged it of market manipulation, money laundering and fraud. The 64-page report, which Grenke strongly rejects, was published by Fraser Perring of Viceroy Research. Shares of Grenke, which is listed on the Frankfurt Stock Exchange,
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Check out the companies making headlines premarket Wednesday: FedEx (FDX) — FedEx shares popped more than 9% in the premarket on the back of quarterly numbers that beat analysts’ expectations. The shipping giant reported earnings per share of $4.87 on revenue of $19.32 billion. Analysts expected a profit of $2.69 per share on revenue of $17.55
September’s early volatility may be no match for what comes after the presidential election. Wells Fargo Securities’ Michael Schumacher notes volatility is set to jump following the results — not recede. “Normally, you might think that it’s Election Day or Election Day plus one that is super volatile,” the firm’s head of macro strategy told CNBC’s
Federal Reserve Board Chairman Jerome Powell speaks during a press conference following the January 28-29 Federal Open Market Committee meeting, in Washington, DC on January 29, 2020. Mandel Ngan | AFP | Getty Images While committed to keeping interest rates low for the next several years, the Federal Reserve still has plenty of work to
SINGAPORE — One of the biggest challenges that governments will face in the next decade is bringing down debt, a senior minister in Singapore said on Monday. Governments around the world have increased spending to support their economies hit hard by the coronavirus pandemic. Some have to borrow more to do so — which is a
BTIG’s Julian Emanuel warns another deep market pullback is coming despite Monday’s comeback. The firm’s chief equity and derivatives strategist sees evidence in trading activity that retail investors are still over-exposed to the market’s high flyers. “Rather than fear being priced in the options market, there’s fear of missing out. The price of out of
Rhode Island Gov. Gina Raimondo. Barry Chin/The Boston Globe via Getty Images Minimum benefits Most states set a minimum unemployment benefit below $100 a week, which creates the conundrum for some workers. Rhode Island, for example, pays a minimum benefit of $53 per week. Gov. Gina Raimondo, a Democrat, signed an executive order temporarily raising
Big tech’s record win streak may just be on hiatus. Bryn Mawr’s Jeff Mills believes the group will regain its market leadership. But before it does, he warns investors will have to brace for some more wild swings as the group works off major excesses. “Earlier in the summer, you had something like 85% or
People walk by the New York Stock Exchange (NYSE) on May 18, 2020 in New York City. Spencer Platt | Getty Images U.S. stock futures rose on Sunday night after a sell-off in tech shares led to the market’s first back-to-back weekly declines in months. Dow Jones Industrial Average futures traded 158 points higher, or
Take a look at some of the biggest movers in the premarket: Peloton (PTON) – Peloton earned 27 cents per share for its latest quarter, compared to the consensus estimate of 10 cents a share. The exercise equipment maker’s revenue also topped expectations. The profit was Peloton’s first ever, with revenue nearly tripling on the
Niraj Shah, Wayfair CEO Ashlee Espinal | CNBC Citigroup won the rights to offer a pair of new credit cards with online furniture seller Wayfair, edging out Alliance Data Systems, CNBC has learned. The deal happened amid surging demand for home goods as millions of Americans were forced to work remotely from their residences during
Desiree Pierce cries as she visits her home destroyed by the Almeda Fire, Friday, Sept. 11, 2020, in Talent, Ore. “I just needed to see it, to get some closure,” said Pierce. John Locher | AP Historic wildfires are burning millions of acres and destroying homes in California, Oregon and Washington state, as officials brace for
A photographer takes a picture of the thermometer reading 132 degrees Fahrenheit (55.5 Celsius) at the Furance Creek Visitors Station in Death Valley National Park, California, August 17, 2020. David Becker | Reuters The U.S. this summer has experienced stifling hot temperatures that have set all-time records and put millions of people under excessive heat
Ashley, 3, and Ethan, 2, look at a burned bicycle after wildfires destroyed a neighbourhood in Bear Creek, Phoenix, Oregon, U.S., September 10, 2020. Carlos Barria | Reuters Dozens of major wildfires are burning through the U.S. West Coast, destroying hundreds of homes and wiping out entire neighborhoods in two towns in Oregon. More than 3
Drew Angerer | Getty Images News | Getty Images Most unemployed workers will get up to $1,800 in extra jobless benefits through the Lost Wages Assistance program created last month by the Trump administration. The program pays a $300-a-week federal subsidy on top of the unemployment benefits workers currently receive. It follows the lapse of
Roberto Machado Noa Check out the companies making headlines midday Friday: Peloton — The exercise equipment maker’s stock jumped 2.5% after the company handily beat earnings expectations for the fourth quarter. The company earned 27 cents per share, compared with the 10 cents expected by analysts polled by Refinitiv. Sales surged 172% during the quarter
Tan Min Liang, the co-founder, CEO and executive director of Razer, at a press conference on the proposed listing of Razer at JW Marriott Hotel Hong Kong in Admiralty. Dickson Lee | South China Morning Post | Getty Images After applying to become a regulated bank in Singapore, gaming hardware firm Razer is now considering
Chief Executive Officer of Citigroup Michael Corbat speaks at a European Financial Forum event in Dublin, Ireland February 13, 2019. Clodagh Kilcoyne | Reuters When Citigroup president Jamie Forese announced he was stepping down in April 2019, it set off a chain of events that culminated Thursday when the firm announced it will appoint Jane
Visitors play video games at the Xbox stand during 2020 China International Cartoon and Game Expo (CCG Expo) at Shanghai World Expo Exhibition and Convention Center on July 16, 2020 in Shanghai, China. Zhou You | Visual China Group | Getty Images A wave of major companies are suddenly letting people finance everything from video
Passengers use smartphones inside a subway train in Seoul, South Korea, in 2015. Woohae Cho/Bloomberg | Bloomberg | Getty Images SINGAPORE — South Korea’s Kakao Games surged in their Thursday market debut on the Kosdaq, more than doubling from their listing price shortly after trading began. Kakao Games’ shares started trading at 48,000 Korean won