Elon Musk softens ‘go f— yourself’ comment to woo advertisers

Musk is attending Cannes Lions this week with an aim to reassure ad groups and global brands over the future of X. Marc Piasecki | Getty Images Elon Musk on Wednesday tried to walk back remarks lashing out at advertisers fleeing his X social media platform. At the Cannes Lions advertising festival in Cannes, France, … Read more

India set for decade-high $2 billion bond inflows around JPMorgan index inclusion day

In this photo, photo shows of Mahatma Gandhi on Indian currency rupee notes. Manish Rajput | Moment | Getty Images Foreign inflows into Indian bonds will hit a decade-high of $2 billion around June 28, when they will be included in a widely-tracked JPMorgan index, although the central bank will lap up most of the … Read more

Bank of England set to hold rates despite inflation hitting target

LONDON — The U.K. had some cause for celebration on Wednesday morning, as headline inflation hit the Bank of England’s 2% target for the first time in nearly three years. But the print only served to further convince traders that an interest rate cut is not imminent. Money market pricing by 11 a.m. in London … Read more

Golden Goose postpones Milan IPO citing political turmoil in Europe

A general view of Golden Goose Superstar “Paint Your Love” sneakers. Icon Sportswire | Icon Sportswire | Getty Images Italian sportswear brand Golden Goose postponed its Milan IPO on the grounds that the European Parliament elections and the call for a snap election in France have led to “significant deterioration” in market conditions. Golden Goose, … Read more

Economist Sahm, who devised recession rule, says the Fed is ‘playing with fire’

Economist Claudia Sahm on CNBC’s The Exchange. CNBC The Federal Reserve is risking tipping the economy into contraction by not cutting interest rates now, according to the author of a time-tested rule for when recessions happen. Economist Claudia Sahm has shown that when the unemployment rate’s three-month average is half a percentage point higher than … Read more

Trump Media shares plunge 17% as more DJT shares to dilute

Omar Marques | Lightrocket | Getty Images The stock price of Trump Media plunged by more than 17% in after-hours trading Tuesday after the Truth Social app owner said its registration of additional shares had been declared effective by the Securities and Exchange Commission. Trump Media, which trades under the DJT ticker, had seen its … Read more

Steve Cohen is set to make a big push into investing in AI

Steve Cohen, chairman and CEO of Point72, speaking to CNBC on April 3, 2024. CNBC Billionaire investor Steve Cohen’s Point72 plans to launch a separate, artificial intelligence-focused hedge fund to capitalize on the boom, according to a person close to the firm’s plans. The new long/short equity fund, to be launched later this year or early … Read more

Investors are most bullish since Nov. 2021, survey says

Optimism is high on Wall Street at the midpoint of the year. Investors are the most bullish they have been since November 2021, according to the global fund manager survey, or FMS, released Tuesday from Bank of America Securities. Not only are portfolio managers not anticipating a recession, but they are also betting big on … Read more

Boeing CEO Calhoun heads to Senate hours after new whistleblower claims

Dave Calhoun, CEO of Boeing, leaves a meeting with Sen. Dan Sullivan, R-Alaska, in Hart Building, on Wednesday, January 24, 2024. Calhoun was meeting with senators about recent safety issues including the grounding of the 737 MAX 9 planes. Tom Williams | Cq-roll Call, Inc. | Getty Images Boeing CEO Dave Calhoun plans to tell … Read more