business news

Hydrogen powered trains to be used in Berlin-Brandenburg region

A Mireo Plus H train photographed in North Rhine-Westphalia, Germany, on May 5, 2022. According to Siemens Mobility, the train can hit a top speed of 160 kilometers per hour, or around 99 mph. Sophie Brössler | Picture Alliance | Getty Images Siemens Mobility is to build several hydrogen-powered trains for a network in the …

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New G-7 infrastructure plan offers alternative to China Belt & Road

The Group of 7 has announced a new infrastructure funding program that could rival China’s Belt and Road Initiative. One expert says the G-7’s plan offers hope to developing countries but it remains to be seen whether it can match the BRI. On Sunday, the US and the other members of the G-7 including Canada, …

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Investors could do ‘a lot worse’ than FedEx here, Jim Cramer says

CNBC’s Jim Cramer on Monday told investors that while the market has yet to overcome the challenges threatening to create a recession, FedEx stock might be able to weather the turbulence. “You might think FedEx would be a helpless victim of high gas prices, potential e-commerce plateau, a [Federal Reserve]-mandated slowdown. That would be wrong. …

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Investors could do ‘a lot worse’ than FedEx here, Jim Cramer says

CNBC’s Jim Cramer on Monday told investors that while the market has yet to overcome the challenges threatening to create a recession, FedEx stock might be able to weather the turbulence. “You might think FedEx would be a helpless victim of high gas prices, potential e-commerce plateau, a [Federal Reserve]-mandated slowdown. That would be wrong. …

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US may lose silicon wafer factory if CHIPS Act isn’t funded

US Commerce Secretary Gina Raimondo told CNBC’s Jim Cramer on Monday that she believes GlobalWafers will follow through on its plan to build a silicon wafer factory in Texas — but only if Congress passes funding for the CHIPS for America Act by the time the August recess begins. “This investment that they’re making is …

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Robinhood shares jump 14% on report FTX may be exploring a deal

A woman holds a smartphone with the Robinhood logo in the background. Rafael Henrique | Sopa Pictures | light rocket | Getty Images Robinhood shares jumped on Monday after Bloomberg News reported crypto exchange FTX was considering acquiring the trading app. The stock soared 14% at its session high and was briefly halted after a …

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More than half of Americans live paycheck to paycheck amid inflation

With inflation at 40-year highs, workers across all income levels are having a harder time making ends meet. As of May, 58% of Americans — roughly 150 million adults — live paycheck to paycheck, according to a new LendingClub report. That’s down slightly from 61% who reported living paycheck to paycheck in April but up …

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Trump SPAC deal threatened by criminal probe

Former US President Donald Trump applauds during the National Rifle Association (NRA) annual convention in Houston, Texas, US May 27, 2022. Shannon Stapleton | Reuters A federal criminal investigation is threatening the proposed merger between former President Donald Trump’s social media enterprise and a special purpose acquisition company, a deal that would give the combined …

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FCA investigates Wise CEO Kristo Kaarmann over tax default

Kristo Kaarmann, CEO and co-founder of Wise. Eoin Noonan | Sports file | Getty Images The CEO of £3.9 billion ($4.8 billion) fintech firm Wise is being investigated by UK regulators after tax authorities found he failed to pay a tax bill worth over £720,000. Kristo Kaarmann, who co-founded Wise in 2011, was recently fined …

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