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Whirlpool warns of ‘recession-level’ slump as Iran war and tariff ruling hit sales
Appliance giant slashes earnings forecast and hikes prices by 10% with another 4% spike plannedWith the war in Iran and economic concerns putting pressure on consumers and how they spend their money, Whirlpool is having to adjust to Americans delaying big-ticket purchases while also raising prices to help stabilize its North American business.The company known for brands such as KitchenAid, Maytag and its namesake, said that the Iran war led to a “recession-level industry decline” in America as...
Trump's 'irresponsible war' to blame for economic slowdown, German minister says
Trump's 'irresponsible war' to blame for economic slowdown, German minister says2 hours agoShareSaveAdd as preferred on GoogleTom McArthurEPALars Klingbeil's comments risk exacerbating a row between the two Nato alliesGermany's finance minister has blamed Donald Trump's "irresponsible war in Iran" for a big drop in his country's expected tax revenues.Lars Klingbeil said the US president's actions in the region had caused a "global energy sho...
Which debts can't be garnished from your Social Security? Here are 4 to know.
MoneyWatch: Managing Your Money Which debts can't be garnished from your Social Security? Here are 4 to know. We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Angelica Leicht Angelica Leicht Senior Editor, Managing Your Money Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, w...
Kalshi doubles valuation in 5 months, hitting $22 billion
Prediction market startup Kalshi announced on Thursday a $1 billion Series F round, valuing the company at $22 billion. That’s double the $11 billion valuation Kalshi nabbed just five months ago after raising a $1 billion Series E. This latest round was led by Coatue, with participation from Sequoia, Andreessen Horowitz, and Paradigm. The startup told Bloomberg that its annualized revenue exceeds $1.5 billion.
Pakistan turns down two lowest evaluated LNG bids
ISLAMABAD: Pakistan on Thursday rejected the two lowest evaluated LNG bids from BP Singapore and TotalEnergies, priced at $17.28 and $16.98 per million British thermal units (mmBtu), respectively, for delivery next week and in the last week of the current month. State-run Pakistan LNG Limited (PLL) received a total of seven bids — three cargoes for May 12-14 and four for May 24-26 — against urgent tenders floated a day earlier. For the first cargo, PetroChina bid $17.69 per mmBtu, BP Singapore $...
Iconic British restaurant chain confirms 23 site closures after entering administration
Leon Restaurants has confirmed the permanent closure of 23 UK sites following a major restructuring programme aimed at rescuing the struggling chain. The healthy fast‑food brand said it expects to exit administration after co‑founder John Vincent injected £2.5million into the business as part of a wider turnaround plan.Leon entered administration in December after facing mounting financial pressures, with administrators from BTG Advisory and Quantuma appointed to assess options for the company....
Russian stock market closes mixed
The yuan edged up 0.4 kopecks to 10.95 rubles
Fed’s Daly Says ‘Too Early to Tell’ on End of Rate-Cutting Cycle
Federal Reserve Bank of San Francisco President Mary Daly says it is too early to tell if the central bank is at the end of its rate-cutting cycle and explains what she is watching for on inflation expectations from consumers and producers. (Source: Bloomberg)
Serbia unhappy with MOL's proposal for NIS deal — minister
According to Dubravka Djedovic-Handanovic, the issue is the future operation of the Pancevo refinery, crude oil refining capacity, and the mechanisms that will guarantee compliance with the agreements
BMW profits slump after UK car finance scandal and Donald Trump tariffs impact sales
A major car brand has seen its profits take a hit as a result of the UK car finance scandal and rising US tariffs, which has impacted the sector.German carmaker BMW said increased customs costs, particularly in the US have reduced its profit margin by around 1.25 percentage points during the first quarter of the year.BMW also confirmed it had increased financial provisions linked to compensation for UK motor finance customers after the Financial Conduct Authority published its final redress sche...
Fed’s Daly Says Policy Division Is Less Important Than FOMC Action
Federal Reserve Bank of San Francisco President Mary Daly downplayed division in the central bank’s policy statement, pointing to the agreement by the Fed’s rate-setting committee to holding rates steady. Daly says it is too early to tell if the central bank is at the end of its rate-cutting cycle and explains what she is watching for on inflation expectations from consumers and producers. (Source: Bloomberg)
Russians’ demand for cash increased in March-April due to a number of factors — regulator
This could be due to adaptation to tax changes, as well as temporary internet disruptions and the population's desire to have a reserve of payment methods that are not dependent on the operation of digital infrastructure
Wall Street Poised for Bonus Increases in ‘Year of the Bank’
Wall Street bonuses are projected to jump for the third year in a row as market volatility fuels trading demand and dealmaking makes its long-awaited comeback. For investment bankers who advise corporate clients on deals, incentive pay is poised to be up 10% to 20% or more from a year earlier, according to Johnson Associates. Katherine Doherty has more. (Source: Bloomberg)
Bankers Eye Bigger Payouts
Wall Street is heading into another big bonus season. Johnson Associates says investment bankers and equity-capital-markets bankers could see payouts jump 20% or more, while traders are also set for meaningful gains. The reason: stronger dealmaking, volatile markets, and what one consultant calls “the year of the bank.” Chris Connors, the Managing Director of Johnson Associates, the company behind the Wall Street pay report, joined Bloomberg Open Interest with more details on the report. (Source...
Fact Check: Cost of Welsh 20mph policy estimated at £4.5 billion
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British Gas owner snaps up gas-fired power station for £370m in south Wales
The need for gas-fired power stations will increase despite the race to Net Zero, the boss of energy giant Centrica has said. Centrica, which owns British Gas, has paid £370m for the Severn gas turbine power station in Wales, which it said would help keep energy supplies “secure and affordable”. Chief executive Chris O’Shea told investors that natural gas-fired generation will “continue to play a critical role in maintaining system stability through the UK’s energy transition” by “ensuring secur...
Most Expensive Stocks: ये हैं देश के 5 सबसे महंगे शेयर, एक ने तो कर दिया था कमाल
Most Expensive Stocks
Major British sports brand confirms 24 store closures in latest blow to embattled high street
JD Sports Fashion has closed 24 stores across the UK over the past year as the retailer pushes ahead with plans to operate "fewer, bigger, better" locations.The sportswear giant said the closures formed part of a wider consolidation strategy focused on larger flagship-style stores rather than a reaction to financial difficulties.The company, which operates around 4,811 stores worldwide, reported annual pre-tax profits of £852million for the financial year ending January 2026.That marked a declin...
Mexico Plans $8 Billion in Gas Pipelines to Boost Power Sector
Mexico is planning to invest 140 billion pesos ($8.1 billion) in new gas pipelines over the next four years, the latest step in President Claudia Sheinbaum’s plan to boost the country’s power generation.
AI Rally Powers Wall Street Earnings | Open Interest 5/7/2026
Get a jump start on the US trading day with Matt Miller and Dani Burger on "Bloomberg Open Interest." Wall Street eyes strong earnings and the tech rally, and Citi faces pressure as Jane Fraser sells her turnaround. Plus, Wall Street bonuses are set to jump, prosecutors allege an insider-trading ring reached the elite world of M&A law. We'll hear from Genco’s Eric Fabrikant on the strength he's seeing in dry bulk shipping, Bernstein’s Alex Chaloff weighs in on AI spending, and MNTN’s Mark Dougla...