A family shops for Halloween candy at a Walmart Supercenter on October 16, 2024 in Austin, Texas. Brandon Bell | Getty ImagesJust because the Federal Reserve is nearing its inflation goal doesn't mean the problem is solved, as the high price of goods and services across the U.S. economy continues to...
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CVS replaces CEO Karen Lynch with exec David Joyner as profits, share price suffer
Longtime CVS Health executive David Joyner has succeeded Karen Lynch as CEO, as the company struggles to drive higher profits and stock performance, CVS announced Friday.The move, effective Thursday, the day before the announcement, comes as CVS shares have fallen nearly 20% this year. The stock closed around 5% lower...
South Fork Wind offers a glimpse at what’s possible as offshore wind power projects struggle to gain traction
South Fork wind turbine off the east coast of Montauk, New York.Pippa Stevens | CNBCGREENPORT, N.Y. โ Roughly 35 miles off the east coast of Montauk, New York, 12 turbines gently spin in the wind at Orsted's newly developed South Fork Wind farm. The project, which connected to the grid...
After rejecting Google takeover, cyber firm Wiz says it will IPO ‘when the stars align’
LONDON โ Cybersecurity firm Wiz is seeking to hit $1 billion of annual recurring revenues next year, the company's billionaire co-founder Roy Reznik told CNBC, adding that the firm will go public "when the stars align."Wiz makes software that connects to cloud storage providers like Amazon Web Services or Microsoft...
U.S. deficit tops $1.8 trillion in 2024 as interest on debt surpasses trillion-dollar mark
The U.S. Treasury building in Washington, D.C., on Aug. 15, 2023.Nathan Howard | Bloomberg | Getty ImagesThe Biden administration rang up a budget deficit topping $1.8 trillion in fiscal 2024, up more than 8% from the previous year and the third highest on record, the Treasury Department said Friday.Even with...