Cisco, BJ’s Wholesale, Bed Bath & Beyond, Kohl’s and more

A customer walks down an aisle of a BJ’s Wholesale Club Inc. store in Falls Church, Virginia, USA Bloomberg | Bloomberg | Getty Images Check out the companies making the biggest moves in the afternoon: Cisco Systems – Shares of the network equipment maker rose 5.8%. The company reported earnings that exceeded estimates after the … Read more

Jobless claims are lower as the Fed tries to cool the labor market

Initial jobless claims fell slightly last week, although they were consistent with a rise in layoffs that began in the spring, the Labor Department reported Thursday. In the week ending Aug. 13, the number of jobless claims was 250,000, down 2,000 from the previous week and below the 260,000 Dow Jones estimate. The four-week moving … Read more

5 things you need to know before the fair opens on Thursday, August 18

Traders work on the floor of the New York Stock Exchange (NYSE), August 17, 2022. Brendan McDermid | Reuters Here are the key news items investors need to start their trading day: 1. Stocks seem to bounce back Stock futures rose Thursday morning as markets tried to shake off Wednesday’s declines. The down day also … Read more

Germany ahead of schedule with wet gas deliveries

European governments are making efforts to fill underground storage depots with gas supplies to provide households with enough fuel to keep homes warm in winter. Image Alliance | Image Alliance | Getty Images Germany’s natural gas storage facilities passed a fill level of more than 75% this month, two weeks ahead of schedule, as Europe’s … Read more

‘Reasonable to conclude’ forced labor in China: UN expert | Labor rights

Allegations that China is overseeing the forced labor of Uyghurs and other ethnic minorities in Xinjiang are credible and convincing, a UN slavery expert found. In a report to the UN General Assembly, Tomoya Obokata, the special rapporteur on contemporary forms of slavery, said it was “reasonable to conclude” that forced labor was taking place … Read more

Norwegian sovereign wealth fund loses $174 billion in first half

The Central Bank of Norway, also known as Norges Bank, in Oslo, Norway. Kristian Helgesen/Bloomberg | Bloomberg | Getty Images The Norwegian sovereign wealth fund, the largest in the world, suffered a loss of 1.68 trillion Norwegian kroner ($174 billion) in the first half of 2022 as equity markets in general experienced a tumultuous half-year. … Read more

5 things you need to know before the stock market opens on Wednesday 17 August

A trader operates on the trading floor of the New York Stock Exchange (NYSE) in New York, August 3, 2022. Andrew Kelly | Reuters Here are the key news items investors need to start their trading day: 1. Stock futures fall Shares emerged on a rough Wednesday morning, a day after the Dow and S&P … Read more

UK inflation hits new 40-year high of 10.1%

Liz Truss and Rushi Sunak at The Sun’s Showdown: The Fight for No10, the last live debate for Conservative Party leaders. The next prime minister will face a historic cost of living crisis as food and energy prices rise and real incomes shrink. Dominic Lipinski | Dad Pictures | Getty Images LONDON — UK inflation … Read more

China heat wave: Sichuan closes factories to save energy

Sichuan is a major manufacturing site for the semiconductor and solar panel industries, and power rationing will hit factories belonging to some of the world’s largest electronics companies, including Apple (AAPL) supplier Foxconn and Intel (INTC). The province is also China’s hub for lithium mines — a key component of electric car batteries — and … Read more

Recession is spreading, warns Peter Boockvar

There may be no escaping the recession. According to investor Peter Boockvar, the latest housing and manufacturing reports suggest it is quickly spreading to other parts of the economy. “People are not sensitive enough to this economic slowdown and what it will mean for corporate profits and profit margins,” Bleakley Advisory Group’s chief investment officer … Read more