Business

Kroger (KR) earnings Q3 2022

Kroger (KR) earnings Q3 2022

The Kroger supermarket chain's headquarters is shown in Cincinnati, Ohio.Lisa Baertlein | ReutersKroger on Thursday raised its forecast for the year after its third-quarter earnings topped Wall Street expectations, with inflation continuing to push up the prices that shoppers pay for groceries like milk, eggs and other items.The supermarket operator now anticipates adjusted net earnings to range from $4.05 to $4.15. It had previously expected between $3.95 and $4.05. related investing newsWhat investors are watching when Salesforce reports 3Q results on WednesdayShares rose about 3% in premarket trading.Kroger CEO Rodney McMullen said the company is attracting shoppers by offering value. In…
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UK banks given new targets to boost working class senior hires

UK banks given new targets to boost working class senior hires

The U.K.'s financial services sector has been issued new targets for at least half of senior leaders to come from working-class or lower socio-economic backgrounds by 2030.Sopa Images | Lightrocket | Getty ImagesLONDON — The U.K.'s financial services sector must do more to "break the 'class' ceiling," according to a government-backed task force, with new targets calling for at least half of senior leaders to come from working-class or lower socioeconomic backgrounds by 2030.The City of London Corporation, the governing body that oversees the U.K.'s finance industry, said Wednesday that the moves were crucial not only for improving boardroom diversity…
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Amazon CEO says Prime could become ‘standalone business’

Amazon CEO says Prime could become ‘standalone business’

Amazon (AMZN) could potentially spin off its Prime streaming unit as a separate company, CEO Andy Jassy said Wednesday. During a wide-ranging interview at the The New York Times' DealBook Summit , Jassy said that "overtime we have opportunities to make our Prime video business a standalone business that has very attractive economics." Jassy also defended the Club holding's decision to "streamline" costs by laying off thousands of employees , highlighted shifts in consumer spending amid an uncertain economy, and made clear Amazon's intention to continue expanding into the health-care space. The Club welcomes Jassy's comments on reining in costs,…
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House approves tentative labor deal, sends to Senate

House approves tentative labor deal, sends to Senate

A rail employee works a Union Pacific Intermodal Terminal rail yard on November 21, 2022 in Los Angeles, California.Mario Tama | Getty ImagesThe House passed legislation Wednesday that would force a tentative rail labor agreement and thwart a national strike. The bill now goes to the Senate, where Majority Leader Chuck Schumer, D-N.Y., has promised swift passage.A separate House vote added seven days of paid sick leave to the agreement.The resolution's passage, by a vote of 290-137, comes after President Joe Biden called on Congress to intervene in the stalled talks between railroads and some of the industry's major unions.…
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Mortgage rates fall for the third straight week, but demand still drops further

Mortgage rates fall for the third straight week, but demand still drops further

A For Sale sign appears in front of a house on Oak Street in Patchogue, New York, on May 17, 2022.Steve Pfost | Newsday | Getty ImagesMortgage rates soared over 7% just a month ago, but since then they have fallen more than half a percentage point. Still, mortgage loan application volume decreased 0.8% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index.The results also include an adjustment for the observance of the Thanksgiving holiday.The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) decreased to 6.49%…
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Drug overdose deaths among seniors have more than tripled in 2 decades

Drug overdose deaths among seniors have more than tripled in 2 decades

Deaths from drug and alcohol use are rising among America's seniors.Drug overdose deaths more than tripled among people age 65 and older during the past two decades while deaths from alcohol abuse increased more than 18% from 2019 to 2020, according to data published Wednesday by the National Center for Health Statistics.More than 800,000 seniors suffered from drug addiction and 2.7 million suffered from alcohol addiction in 2020, according to separate data from the Health and Human Services Department.In total, more than 5,000 seniors died of drug overdoses in 2020 and more than 11,600 succumbed to alcohol, according to the…
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I like Morgan Stanley over SoFi Technologies

I like Morgan Stanley over SoFi Technologies

Morgan Stanley: "That's the kind of stock that we like here. ... We are in real companies that make real things, return real capital and Morgan Stanley is one of those."Intuitive Surgical Inc: "I'm now even gun-shy on the 50 times earnings and more stocks, because those are not working. ... Be very careful."AutoZone Inc: "They are still buying back stock. ... I like that stock very much."Gartner Inc: "Gartner Inc is a very good, solid growth stock."SoFi Technologies Inc: "I think this thing is going to make money eventually, but let's just say that the first bank stock, Morgan…
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Netflix plan kept ‘Glass Onion’ from making millions more at box office

Netflix plan kept ‘Glass Onion’ from making millions more at box office

Netflix probably left hundreds of millions of dollars on the table by not keeping Rian Johnson's "Glass Onion" in theaters.The sequel to Johnson's critically acclaimed "Knives Out" opened in nearly 700 theaters, the largest release of any Netflix original film to date, last Wednesday ahead of the Thanksgiving holiday weekend. "Glass Onion" leaves theaters Tuesday. It will arrive on Netflix Dec. 23.related investing newsBob Iger's fast start back as Disney's CEO is welcome news to shareholders like usThe movie snared an estimated $13 million to $15 million during the five-day stretch, a solid opening for a film released in only…
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Flu hospitalizations increase nearly 30% as U.S. enters holiday season

Flu hospitalizations increase nearly 30% as U.S. enters holiday season

Susana Sanchez, a Nurse Practitioner, administers a flu vaccination to Loisy Barrera at a CVS pharmacy and MinuteClinic in Miami, Florida.Joe Raedle | Getty ImagesFlu hospitalizations have increased nearly 30% in a week as the spread of respiratory illnesses remains high across most of the U.S.More than 11,200 people were hospitalized with the flu during the week ending Nov. 19, compared to about 8,700 patients admitted during the prior week, according to data from the Health and Human Services Department.Flu has hit unusually hard and early this season, putting pressure on emergency departments across the nation. Flu activity normally picks…
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China’s Covid infections drop for the first time in more than a week

China’s Covid infections drop for the first time in more than a week

China's capital city of Beijing is one of the hardest hit in the latest Covid wave. Pictured here is a health worker outside a locked down apartment complex on Nov. 27, 2022.Kevin Frayer | Getty Images News | Getty ImagesBEIJING — Mainland China reported the first decline in daily Covid infections in more than a week on Monday.The country said local infections, mostly asymptomatic, totaled 38,421, down from a record high of 40,052 reported for Sunday, according to CNBC calculations of Wind Information data.related investing newsHow we're thinking about our Club stock exposure to China following Covid protestsThe last time…
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