Business

A collection of 1678 posts

Business

Kevin Warsh nomination may struggle to deliver Trump’s sought rate cuts

President Trump nominated Kevin M. Warsh to be the next chair of the Federal Reserve on Jan. 30, 2026, praising him as “central casting,” saying he would “go down as one of the GREAT Fed Chairmen” and writing that he “will never let you down,” the article reports. The article

Business

Starmer secures visa-free travel and whisky tariff cut during China visit

Prime Minister Keir Starmer traveled to China this week with more than two dozen British business and financial leaders for the first visit by a British leader in eight years, meeting President Xi Jinping and returning with measures including short-term visa-free travel for British citizens, a cut in tariffs on

Business

Millennials and Gen Z top American Express consumer spending, execs say

For the first time, millennials and Gen Z cardholders made up the largest share of US consumer spending on American Express cards last quarter, CFO Christophe Le Caillec said on the company’s fourth-quarter earnings call. Le Caillec said those cohorts are the fastest-growing for Amex as the company targets

Business

Tesla will stop making the Model S and Model X and repurpose factory space

On Wednesday, Tesla’s chief executive, Elon Musk, announced that the company would stop making the Model S and the Model X and use the space in a California factory for robot production, the New York Times reported on Jan. 30, 2026. Introduced in 2012, the Model S was widely

Business

Stock and bond markets largely unfazed by Kevin Warsh nomination

Stock and bond markets showed little reaction to Kevin Warsh’s nomination as the next Federal Reserve chair, with the S&P 500 nudging about 0.3 percent lower in early trading on Friday, Jan. 30, 2026. Investors were also digesting hotter-than-expected inflation numbers released that morning, but the

Business

U.S. Lukoil franchisees hit by sanctions as company seeks buyer

About 200 American owners of Lukoil-branded gas stations in New Jersey, New York and Pennsylvania say they have been hurt by U.S. sanctions on the Russian oil company, and they said they were hopeful on Jan. 30, 2026 after Lukoil announced talks to sell almost all its foreign assets,

Business

Tips for Lowering Your Credit Card Interest Rate

Consumer finance experts say the first step is to ask your card issuer to reduce your interest rate, and with average card balances now about $6,500, that move could help chip away at debt, the article says. The average credit card rate is about 22 percent, according to the

Business

Chevron, Exxon report lowest annual profits as Chevron highlights Venezuela potential

Chevron and Exxon Mobil reported their lowest annual profits in years on Jan. 30, 2026, and Chevron’s finance chief praised Venezuela’s oil assets as the companies prepared conference calls to discuss their 2025 results later that morning. Chevron’s chief financial officer, Eimear Bonner, said in an interview

Business

Whale Research: 2026 outlook — USD liquidity deteriorated, regionalisation reshapes allocations

Whale Research’s analysis for BeInCrypto says markets enter 2026 after an undercurrent-filled 2025, with USD liquidity deteriorating and a shift toward regionalisation already reshaping investor allocations. The report notes that three “defensive” Fed rate cuts and the end of quantitative tightening in late 2025 did not produce easy liquidity:

Business

Companies face scrutiny for work with ICE after Minnesota shootings

International companies that do business with Immigration and Customs Enforcement have come under scrutiny after the fatal shootings of Renee Good and Alex Pretti in Minnesota this month, and videos of the killings raised international concern. French finance minister Roland Lescure said he was seeking answers from Capgemini over a

Business

Nordstrom, Wayfair, Spanx and more are running sales — discounts up to 82%

People reports that major retailers including Nordstrom, Wayfair, Spanx, Amazon and more are hosting winter sales shoppers can start browsing now, with some discounts reaching as much as 82 percent off. Nordstrom’s sale section features more than 71,000 items, from outerwear and boots to skincare. Examples called out

Business

New Holland opens private-credit strategy to new money, targets 'funkier' deals

New Holland Capital, which manages close to $7 billion, has opened its private-credit strategy called Special Opportunities to outside investors at the start of the new year, the firm said, pushing into smaller, less-competitive "funkier" deals. The move comes as the largest asset managers — including BlackRock, Blackstone, Millennium,

Business

El Salvador buys $50M in gold, boosting reserves alongside 7,547 BTC

The Central Reserve Bank (BCR) of El Salvador announced it purchased $50 million worth of gold, marking the country’s second gold acquisition since 1990. In its announcement the BCR said it bought 9,298 troy ounces of gold valued at $50 million. The move follows an earlier purchase of

Business

Cathie Wood says gold is a 'late-cycle' bubble as $9 trillion market swing unfolds

Cathie Wood warned that gold shows late-cycle bubble signals just as markets recorded roughly a $9 trillion cross-asset swing, with dramatic moves in precious metals and US equities within a single trading session. Wood’s analysis said gold’s market capitalization as a share of US money supply (M2) hit

Business

South Korean Kospi Sets Record High as Market Doubles Over Past Year

The South Korean stock market rose for three straight days this week and the benchmark Kospi index set fresh records each day, closing above 5,000 for the first time on Tuesday, the New York Times reported on Jan. 30, 2026. The rally has pushed the Kospi to double over

Business

Panama court strikes down Hong Kong firm’s canal port contract

Panama’s top court on Thursday night, Jan. 30, 2026, ruled that the port contract held by Hong Kong conglomerate CK Hutchison was unconstitutional, the court said in a short statement. The company, owned by Li Ka-shing, operates the Balboa and Cristobal ports at either end of the Panama Canal,

Business

Medium lets staff take Friday off to join nationwide ICE strike

Medium told employees they can take Friday, Jan. 30, off to participate in a nationwide immigration strike calling for the removal of ICE officers from cities, CEO Tony Stubblebine said in messages on the company Slack. Stubblebine said he had "started the week in my own head and heart&

Business

Trump expected to announce Kevin Warsh as Fed chair

President Trump is set to announce his choice to replace Jerome H. Powell as chair of the Federal Reserve on Friday and is expected to select Kevin M. Warsh, a former Fed official, according to multiple people familiar with his plans, the report says. Mr. Warsh served as a Federal

Business

Erik Gordon warns of 'planet-sized' AI bubble; Microsoft slump a warning

Erik Gordon, an entrepreneurship professor at the University of Michigan’s Ross School of Business, said AI is a "planet-sized" bubble that will pummel investors and called Microsoft’s recent post-earnings slump a "warning of the burst to come," in a Wednesday email to Business Insider.

Business

Business Insider's Davos 2026 playbook: 3,000+ newsletter sign-ups and 180 live posts

Business Insider said it had a standout week at Davos 2026, using on-the-ground reporting, live products, and events to amplify its journalism on the world stage, according to a recap by editor Barbara Peng. The newsroom credited seamless collaboration between reporters in Davos and the global team and new live-blog

Business

Microsoft stock plunges 12% after earnings as Azure growth slows and AI costs rise

Microsoft shares plunged 12% on Thursday after its quarterly results as investors reacted to heavy AI spending and signs of slowing growth in its Azure cloud business. The company beat both top- and bottom-line forecasts and reported cloud revenue reached $50 billion for the first time, but the stock still

Business

Elon Musk reportedly weighing merger of SpaceX with xAI — or Tesla

Elon Musk is reportedly working on a plan to merge two of his biggest companies: Reuters says he may merge xAI into SpaceX, while Bloomberg reports SpaceX is also considering a tie-up with Tesla. Reuters said a SpaceX–xAI combination would unite Musk’s rockets, Starlink satellites, the X social

Business

Nexon offers full refunds for MapleStory: Idle RPG after gacha 'deception'

Nexon has apologised for a “serious breach of trust” and said it will offer MapleStory: Idle RPG players full refunds for all in-game purchases made from the game’s launch on November 6, 2025 until the posting of the full refund announcement on January 28, 2026. The move follows a

Business

Judge allows parts of Epstein victims' suit vs Bank of America; BNY case tossed

US District Judge Jed Rakoff allowed portions of a proposed class-action lawsuit by Jeffrey Epstein's victims against Bank of America to move forward on Thursday, while dismissing the entire, similar suit against BNY (Bank of New York Mellon Corp.). The victims' complaint said Bank of America ignored

Business

First Brands founder Patrick James and brother charged in multibillion-dollar fraud

Manhattan federal prosecutors on Thursday charged First Brands founder Patrick James and his brother Edward James in a multibillion-dollar fraud scheme tied to the auto parts company whose bankruptcy rattled Wall Street last year. The brothers were charged with wire fraud, bank fraud, and conspiracy, including a money laundering conspiracy.