CNBC’s Jim Cramer on Wednesday told investors that declining prices of commodities doesn’t mean a recession is on the way. He suggested that instead these declines represent a return to normalcy after a long period of elevated inflation, which could lead to gains for consumer discretionary stocks like Amazon. “When commodities go …
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A pedestrian walks pass a branch of Industrial & Commercial Bank of China (ICBC) in Fuzhou, Fujian province of China. VCG | Getty Images Moody’s Investors Service cut its outlook for eight Chinese banks to negative from stable on Wednesday, following an identical downgrade to China’s government credit ratings a …
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Thilina Kaluthotage | Nurphoto | Getty Images Meta said Wednesday evening that the personal calls and chats of every Messenger user will be encrypted by default, representing a major privacy update that makes the service more similar to its sibling WhatsApp. Because of the encryption technology “nobody, including Meta, can …
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Amazon CEO Andy Jassy told CNBC’s Jim Cramer how the company has been able to increasingly carry out same-day orders. Amazon changed its U.S. fulfillment network from a “flat regional network” to eight regional hubs, reconfiguring its placement algorithms to get items closer to customers, he said. He added that …
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“It’s not just ‘the robots are coming’ and we need to hunker down and prepare for it. The choices we make along the way will determine the impacts,” Department of Labor Acting Secretary Julie Su said about AI and workers at the CNBC Work Summit. Yuichiro Chino | Moment | …
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U.S. President Joe Biden gestures as he delivers remarks on aid to Ukraine from the White House in Washington, U.S., December 6, 2023. Kevin Lamarque | Reuters The Biden administration announced Wednesday that it would forgive an additional $4.8 billion in student loan debt, for 80,300 borrowers. The relief is …
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IRS Commissioner Daniel Werfel speaks during an IRS event on August 2, 2023 in McLean, Virginia. Alex Wong | Getty Images The IRS is sending more than 20,000 rejection letters to taxpayers who wrongly claimed a pandemic-era tax break as the agency continues its crackdown on “dubious” filings. Created to …
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The internet has been ablaze with opinions about tipping. When should people do it? How much should people leave? Everyone seems to have thoughts. One thing people typically agree on is tipping at a sitdown meal is standard and expected. That’s because servers in the U.S. still rely on tips …
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A simplified Free Application for Federal Student Aid is set to roll out by the end of the month. However, the new FAFSA may launch with outdated inflation figures, which could mean many students “will get less financial aid than they deserve,” according to higher education expert Mark Kantrowitz. “It is a pretty big …
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Darren Woods, chairman and chief executive officer of Exxon Mobil Corp., Brendan McDermid | Reuters Exxon Mobil said Wednesday its expects earnings to more than double through 2027 relative to 2019 as the energy giant moves forward with a slew of cost-cutting measures. Exxon said it’s on track to grow …
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