Iranians attend a funeral in Tehran, held for seven members of the Islamic Revolutionary Guard Corps who were killed in an air strike in Syria.Hussein Peres | AFP | Getty ImagesWestern diplomats have intensified pressure on China to prevent Iran from escalating tensions in the Middle East by launching a direct retaliatory strike against Israel.US Secretary of State Antony Blinken spoke earlier this week with Chinese Foreign Minister Wang Yi and other counterparts in Turkey and Saudi Arabia amid growing fears of Tehran's retaliation against Israel.US State Department spokesman Matthew Miller said Thursday that Blinken asked the foreign ministers to…
Author: ricardofrancois
silenced | silenced | Getty ImagesThe bulk of Americans who buy eligible new electric vehicles are choosing to get an associated tax credit upfront from the auto dealer rather than waiting until tax season, according to new Treasury Department data. a About 90% of consumers who qualified for the “new clean vehicle” tax credit — worth up to $7,500 — requested their tax credit be issued as a down payment, according to a Treasury Department official who spoke on background.“It means it's popular,” Ingrid Malmgren, policy director at the nonprofit electric vehicle advocacy group Plug In America, said of the…
Police are continuing their search for a 23-year-old Sacramento woman who was last seen in Los Angeles and whose phone was found at Los Angeles International Airport.Noelle Lynch, 23, was last seen leaving an apartment building in the 900 block of East Redondo Boulevard in Englewood on April 3 around 5 p.m., the Los Angeles Police Department said in a news release. She is described as being 5 feet 8 inches tall, with brown hair and blue eyes, and weighing about 125 pounds.Lynch is a student at Sacramento State University, but she drove to Los Angeles on April 1 “in…
Washington – The Supreme Court ruled Friday that California developers and homebuilders may challenge fees typically charged by cities and counties to pay for new roads, schools, sewers and other public improvements.The justices said such “impact fees” may be unconstitutional if builders and developers are forced to pay an unfair share of the cost of public projects.Developers asserted that reducing California's high fees for new construction would lead to the construction of new affordable housing. California courts have barred such claims when they arise from “development impact fees imposed under a legislatively approved fee program” that apply to new development…
Wells Fargo On Friday, it reported first-quarter earnings and revenue that beat Wall Street expectations, despite a decline in net interest income.Here's how the company fared compared to what Wall Street was expecting, based on a survey of analysts conducted by LSEG, formerly known as Refinitiv:Earnings per share: $1.26 adjusted versus 1.11 cents expected Revenue: $20.86 billion versus $20.20 billion expectedWells shares traded flat on Friday after the earnings report.Net interest income, a key measure of what a bank makes from lending, fell 8% in the quarter, due to the impact of higher interest rates on funding costs and customers…
These giant white structures called radar domes at Buckley Space Force Base in Colorado contain huge satellite dishes.CNBCThis story is part of CNBC's quarterly Cities of Success series, which explores cities that have transformed into business centers with an entrepreneurial spirit that has attracted capital, companies and employees.In the shadow of the Rocky Mountains, a mile closer to space than sea level, lies a region that is home to a thriving cluster of airlines.It may not be obvious to anyone driving around Denver and Boulder that there are hundreds of companies actively working to meet some of America's most complex…
Check out which companies are making headlines in pre-market trading. JPMorgan – The bank fell 2.4% despite beating expectations on both lines and reporting lower-than-expected credit costs. However, the bank said net interest income, a key measure of what it makes through lending activities, may be somewhat lower than Wall Street analysts expect in 2024. CEO Jamie Dimon also warned of persistent inflationary pressures weighing on the economy. Wells Fargo – Wells Fargo shares fluctuated after announcing first-quarter earnings, but were recently up less than 1%. The bank beat Wall Street expectations on both the top and bottom lines, but…
Cathie Wood's Ark Invest has acquired a stake in OpenAI, the popular AI operator behind ChatGPT. In an email to clients on Thursday, the St. Petersburg, Florida-based asset manager said its ARK Venture Fund had invested in OpenAI as of Wednesday. “OpenAI is at the forefront of the Cambrian explosion in AI capabilities, having produced many of the most influential breakthroughs in foundational AI research, including the GPT and DALLE model series, and the launch of the first major consumer application for generative AI, ChatGPT,” the fastest application in history Reaches 100 million active users,” Ark said in the email.…
Jane Fraser, CEO of Citi, speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 1, 2023. Patrick T. Fallon | AFP | Getty ImagesCitigroup On Friday, it reported first-quarter revenue that beat analyst estimates, helped by better-than-expected trading revenue. Here is what the company said:Earnings: $1.58 per share, unclear if comparable to LSEG's $1.23 estimate Revenue: $21.10 billion vs. $20.4 billion expectedThe bank said profits fell 27% from the previous year to $3.37 billion, or $1.58 per share, due to higher expenses and credit costs and lower revenues. Citigroup CEO Jane Fraser has completed a major…
JPMorgan Chase CEO and Chairman Jamie Dimon gestures as he speaks during the US Senate Banking, Housing and Urban Affairs Committee's oversight hearing on Wall Street firms, on Capitol Hill in Washington, US, December 6, 2023. Evelyn Hochstein | ReutersJPMorgan Chase CEO Jamie Dimon warned on Friday that multiple challenges, primarily inflation and war, threaten a positive economic backdrop.“Many economic indicators remain favorable,” the head of the largest US bank by assets said while announcing first-quarter earnings results. “However, looking to the future, we remain alert to a number of significant uncertain forces.”Dimon said the “troubling” global landscape including “terrible…