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NEW YORK (AP) — Veteran CNBC chief Mark Hoffman is leaving the network after 28 years, with London-based executive KC Sullivan replacing him early next month, the network said on Tuesday. Hoffman was named president of the financial news network in 2005 and elevated to chairman in 2015. “During his tenure, CNBC became a world leader and every year it has grown better and stronger,” said Cesar Conde, chairman of the NBCUniversal News Group. Sullivan, who begins as CNBC president on Sept. 12, is c
(Reuters) -Shares of Bed Bath & Beyond Inc surged 60% to a near five-month high in volatile trading on Tuesday, as retail investors flocked to the stock after a filing revealed activist investor Ryan Cohen's latest bet on the home goods retailer. The stock rose as much as 78.8% to $28.60 during the session and trading was halted multiple times for volatility. Cohen's investment vehicle RC Ventures, which is the second largest investor in the company and has added three independent directors to its board, bought call options expiring in January 2023 on 1.67 million shares with a strike price ranging from $60 to $80.
Swvl Holdings Corp ("Swvl" or the "Company") (NASDAQ: SWVL), a global provider of transformative tech-enabled mass transit solutions, today announced results for the First Half of 2022 and select results for the Second Quarter of 2022. Swvl's condensed unaudited interim financial statements for the six-month periods ended June 30, 2022 and 2021, and supplementary information are available on Swvl's website here.
Shares of Bed Bath & Beyond Inc jumped 23% on Wednesday, leading a surge in meme stocks again as individual investors continued to dabble in highly shorted shares. "It truly is a quality company (but) shares are probably overvalued in the low teens and it is ridiculously overvalued at high $20s," said Jake Dollarhide, chief executive officer at Longbow Asset Management in Tulsa, Oklahoma. Retail investors net bought $73.2 million worth of the company's shares on Tuesday, the highest single-day purchase in at least five years, according to Vanda Research's retail trade flows data, as a filing showing activist investor Ryan Cohen's long-term call option purchases enthused retail punters.
Malaysia's top court on Tuesday denied a request by former Prime Minister Najib Razak to introduce new evidence in his final appeal against a 12-year jail sentence for a case linked to the multibillion-dollar 1MDB financial scandal. Najib, 69, faces dozens of charges over the alleged theft of $4.5 billion from 1MDB, a state fund he co-founded as premier in 2009, in a wide-ranging scandal that has ensnared high-ranking officials and financial institutions stretching from Hollywood to the Middle East. In the first of several trials, he was convicted in July 2020 for criminal breach of trust, abuse of power, and money laundering, for illegally receiving about $10 million from SRC international, a former unit of state fund 1Malaysia Development Berhad (1MDB).
RBC Global Asset Management Inc. ("RBC GAM Inc.") today announced August 2022 cash distributions for unitholders of RBC ETFs, as follows:
The probe was previously reported by Business Insider, but Amazon made the probe public in a recently posted petition with the FTC that questioned what it called the agency's "burdensome" requests and said the commission was harassing senior executives. In an Aug. 5 filing, Amazon said the commission first sent a investigative demand for information in March 2021 in the Prime probe and in June expanded its requests for additional non-Prime subscription programs including Audible, Amazon Music, Kindle Unlimited and Subscribe & Save. Amazon says the expanded requests for information are "overly broad and burdensome."
Get paid decent dividend income while you wait for price appreciation from this diversified group of TSX growth stocks. The post 3 TSX Growth Stocks That Pay You to Wait appeared first on The Motley Fool Canada.
Musk has a history of being unconventional, posting irreverent tweets. Below are some other tweets by Musk - who has more than 103 million followers - which have taken investors, Twitter users, Twitter's board and the rest of his audience by surprise. May 13, 2022: "Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users."
The Home Depot®, the world's largest home improvement retailer, today reported sales of $43.8 billion for the second quarter of fiscal 2022, an increase of $2.7 billion, or 6.5 percent from the second quarter of fiscal 2021. Comparable sales for the second quarter of fiscal 2022 increased 5.8 percent, and comparable sales in the U.S. increased 5.4 percent.
Canadian inflation may have peaked, but it remains far too high, Bank of Canada Governor Tiff Macklem said in a newspaper op-ed on Tuesday, after official data showed annual price increases eased to 7.6% in July from 8.1% in June. Macklem, in a commentary piece published on the National Post newspaper's website, said the central bank was "determined" to "eliminate" high inflation and that its job would not be done until it was back at the 2% target. "Inflation in Canada has come down a little, but it remains far too high," Macklem said.
425 million grams of unpackaged dried cannabis destroyed, highlighting industry's issue of producing more than it can sell
Are you interested in building your first stock portfolio? Here are three stocks that all new investors should buy today! The post 3 Stocks All New Investors Should Buy Today appeared first on The Motley Fool Canada.
Plans for a high-wage, high-growth economy lie in ruins as Britain's Conservative prime minister struggles to answer a cost-of-living crisis, compounded by rising worker unrest. It is December 1973 and the finance minister has privately warned the cabinet of Edward Heath that the country faces its gravest economic crisis since World War Two, according to classified records that are now publicly available. The papers shed light on the debate at the heart of government during a crisis that bears similarities to that facing current Prime Minister Boris Johnson's cabinet.
(Reuters) -Home Depot Inc on Tuesday surpassed estimates for quarterly results as demand from builders and higher prices helped the biggest U.S. home-improvement chain cushion the blow from a drop in store visits. Customers who bought homes during last year's housing boom are still driving demand for home-improvement chains even as the explosive growth seen during the peak of the pandemic has cooled. Home Depot reported bigger-than-expected comparable sales growth of 5.8% in the second quarter, but that was below the average of 14% in the corresponding periods of the past two years.
Today, the President and Chief Executive Officer of Canada's largest and foremost heart health centre – the University of Ottawa Heart Institute – joined Ontario Nurses' Association (ONA) President Cathryn Hoy, RN, in calling for the Ford government to immediately repeal its wage suppression legislation, Bill 124.
TORONTO — The Canadian Securities Administrators (CSA) says crypto trading platforms are now expected to make certain commitments that address investor protections while their registration applications are being reviewed. The umbrella organization of provincial securities regulators says Crypto.com and Coinsquare Capital Markets Ltd. are the first to submit the pre-registration undertakings. The CSA says provincial regulators are in discussion with other crypto trading platforms about following
The U.S. Federal Reserve is hiking interest rates at the most aggressive pace in a generation, but the financial conditions it needs to tighten to tame soaring inflation are heading in the wrong direction. A rally in equities and falling government bond yields since the Fed's June hike means financial conditions are actually loosening, despite the U.S. economy having been hit with a combined 150 basis points of rate hikes at that meeting and the next one. Financial conditions reflect the availability of funding in an economy.
As part of its Project Justice initiative, Molson Coors announced today another $1.5 million donation to BIPOC (Black, Indigenous and people of color) organizations dedicated to equity, empowerment, justice and community building, bringing its total cumulative investment to $4.5 million since 2020. As part of this year's initiative, Molson Coors is allocating more than $500,000 in grants to provide educational cost relief to students from underserved communities seeking to finish their college d
LONDON (AP) — A law has taken effect in Scotland to ensure period products are available free of charge to anyone who needs them. The Scottish government said it became the first in the world to legally protect the right to access free period products when its Period Products Act came into force Monday. Under the new law, schools, colleges and universities as well as local government bodies must make a range of period products such as tampons and sanitary pads available for free in their bathroo