News

China's biggest shopping festival is set for a tepid 2023, survey finds

Most consumers in China are planning to keep a lid on spending during this year's Singles Day shopping festival, according to a survey from Bain and Company.

A meteoric rise in worker health costs has slowed — but they’re already 'egregious,' advisor says

Growth in cost-sharing like deductibles and out-of-pocket maximums has been relatively muted in recent years, according to health data.

Citigroup considers deep job cuts for CEO Jane Fraser’s overhaul, called 'Project Bora Bora'

Citigroup CEO Jane Fraser may preside over some of Wall Street's deepest job cuts in years as she faces mounting pressure to fix the third-largest U.S. bank.

Klarna, Europe's $6.7 billion buy now, pay later firm, sets wheels in motion for eventual IPO

Buy now, pay later firm Klarna has begun a legal entity restructuring to set up a new holding company in the U.K., as a precursor to an eventual IPO.

Singapore's largest bank DBS beats forecast, quarterly profit jumps 17%

Singapore's largest bank DBS Group reported a 17% jump in third-quarter profit, and declared a dividend.

Berkshire Hathaway posts a 40% jump in operating earnings, cash pile swells to a record $157 billion

Berkshire Hathaway on Saturday reported a big jump in third-quarter operating earnings, while sitting on a record amount of cash that surpassed $157 billion.

Unemployment among Hispanic workers rises at faster pace in October than overall rate

The labor market showed deterioration for Hispanic workers, whose unemployment rate rose more than average in October.

Goldman Sachs says the Israel-Hamas war could have major implications for Europe's economy

The Israel-Hamas war could significantly impact economic growth and inflation in the euro zone unless energy prices remain contained, Goldman Sachs says.

Deutsche Bank and UniCredit back $4.5 billion insurance startup Wefox with $55 million in fresh funds

Wefox, which sells insurance plans online, raised $55 million in debt financing from Deutsche Bank and Unicredit, sources familiar with the matter told CNBC.

One paycheck not enough: Digital bank Current finds almost half its customers have multiple jobs

The need for second — and often third — incomes is mounting, according to Current CEO Stuart Sopp.

Block shares surge after earnings beat and increased full-year guidance

There was particularly strong growth in Block's payment platform, Cash App, and its point-of-sale suite, Square.

Bank of England governor says Israel-Hamas conflict poses risks to inflation fight

Bank of England Governor Andrew Bailey said the ongoing Israel-Hamas war poses a potential risk to the bank's efforts to bring down inflation.
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