WICHITA FALLS, Tex. — Elon Musk’s social media platform X has sued a group of advertisers, alleging that a “massive advertiser boycott” deprived the company of billions of dollars in revenue and violated antitrust laws. The company formerly known as Twitter filed the lawsuit Tuesday in a federal court in Texas against the World Federation of Advertisers and member companies Unilever, ...
Stocks saw a dramatic pullback — their third in as many trading days — as a confluence of factors including ongoing fears of an economic slowdown and repositioning on Wall Street sent shares tumbling. The Dow Jones Industrial Average dropped 1,034 points, or 2.6%. The Nasdaq Composite lost 3.4%, and the S&P 500 slid 3%. The blue-chip Dow and S&P 500 were on track for their ...
The average rate on the popular 30-year fixed mortgage dropped 22 basis points to 6.4% Friday, according to Mortgage News Daily. That is the lowest rate since April 2023. The 15-year fixed rate fell to 5.89%, its lowest level since early May 2023. The drop followed a weaker-than-expected monthly employment report, which sent bond yields falling fast. Mortgage rates loosely follow the yield on ...
The U.S. unemployment rate rose to 4.3% in July and hiring slowed, adding to signs of a broader downturn in what has been a solid U.S. economy. The Bureau of Labor Statistics reported Friday that the U.S. added 114,000 jobs, down from 206,000 in June and well short of expectations. Economists were expecting the unemployment rate to have been unchanged ...
Warren Buffett’s Berkshire Hathaway dumped nearly half of its gigantic Apple stake last quarter in a surprising move for the famously long-term-focused investor. The Omaha-based conglomerate disclosed in its earnings filing that its holding in the iPhone maker was valued at $84.2 billion at the end of the second quarter, suggesting that the Oracle of Omaha offloaded a little more than 49% of the ...
CrowdStrike on Sunday said Delta Air Lines had rejected on-site help during last month’s massive outage that sparked thousands of flight cancellations. Delta CEO Ed Bastian told CNBC’s “Squawk Box” last week that the mass cancellations following the outage, which occurred at one of the busiest times of the year, cost the company about $500 million, including customer compensation. The airline has “no choice” but to seek ...
ROCKLAND, Maine — Noah Barnes can’t sell bunks aboard his schooner fast enough. The ones unoccupied by his staff, anyway. Barnes, the owner and captain of the 153-year-old Stephen Taber, said demand for multiday voyages off Rockland has been “as good as the Clinton years.” “Typically in election years and times of uncertainty, we see a little bit of a ...
Stocks tumbled for the second-straight day Friday as a weaker-than-expected jobs report and a dismal forecast from Amazon added to investor fears of a more substantial slowdown for the U.S. economy. The Dow Jones Industrial Average closed down 611 points, or 1.5%. The S&P 500 dropped 1.8%, while the Nasdaq Composite lost 2.4%. Early Friday, the Bureau of Labor Statistics reported that the U.S. added just ...
U.S. stocks saw their third-straight trading day of heavy declines as recession fears continued to mount and Wall Street abandoned a popular trade that had helped counter high interest rates. The Dow Jones Industrial Average was down roughly 900 points or nearly 2.5% Monday morning, while the S&P 500 declined 2.3% and the tech-focused Nasdaq fell 2.5%. On Friday, the ...
Delta Air Lines CEO Ed Bastian on Friday offered employees two free travel passes to thank staff members who were caught in massive disruptions last month sparked by a botched CrowdStrike software update that stranded thousands of customers and crew. Delta had more trouble than competitors in recovering from the outages that took thousands of Windows machines offline. The carrier canceled more than 5,000 flights ...