Business

New York Faces Lasting Economic Toll Even as Pandemic Passes

The city’s prosperity is heavily dependent on patterns of work and travel that may be irreversibly altered. As the national economy recovers from the pandemic and begins to take off, New York City is lagging, with changing patterns of work and travel threatening the engines that have long powered its jobs and prosperity. New York […]

Technology

Beta version to support 4 devices, one phone

WhatsApp multi-deivce support is expected to roll out to Beta version of the application very soon. The company chief and even Mark Zuckerberg have officially announced that the feature is expected to roll out within the next two months. The feature has been spotted on the app but it’s still not functional, even for beta […]

Supply chain problems could limit what you can buy

Tech workers worked from road during Covid, may not return

Technology

Facebook, Alphabet keep rising; Apple, Netflix fade

It is a far cry from last year, when the so-called FAANG stocks took a commanding role in a market driven by the coronavirus pandemic. After the swift downturn of early 2020, shares of Facebook Inc., Apple Inc., Amazon.com Inc., Netflix Inc. and Google parent Alphabet Inc. recovered more quickly than the broad stock market. […]

Andrew Ross Sorkin on meme stocks, bitcoin, SPACs, antitrust, and Elon

iPhone, iPad owners, beware! Connecting to this WiFi network could ruin your device. Here’s why

Economy

Fed’s Jim Bullard sees first interest rate hike coming as soon as 2022

St. Louis Federal Reserve President James Bullard told CNBC on Friday that he sees an initial interest rate increase happening in 2022 as inflation picks up faster than previous forecasts had anticipated. That estimate is even quicker than the outlook the broader Federal Open Market Committee released Wednesday that caused a hit to financial markets. […]

Economy

Mortgage rates shoot higher after Fed Chairman Powell’s comments

People look at a home for sale during an open house on April 16, 2019 in San Francisco, California. Justin Sullivan | Getty Images The average rate on the popular 30-year fixed mortgage moved decidedly higher Thursday, hitting 3.25%, according to Mortgage News Daily. That is the highest rate since mid-April. The move was a […]

Economy

U.S. weekly jobless claims:

Initial jobless unexpectedly rose last week despite an ongoing recovery in the U.S. employment market, the Labor Department reported Thursday. First-time filings for unemployment insurance for the week ended June 12 totaled 412,000, compared to the previous week’s 375,000. That was the highest number since May 15. Economists surveyed by Dow Jones had been expecting […]

Economy

Federal Reserve statement June 2021 what changed

This is a comparison of Wednesday’s Federal Open Market Committee statement with the one issued after the Fed’s previous policy-making meeting on April 28. Text removed from the April statement is in red with a horizontal line through the middle. Text appearing for the first time in the new statement is in red and underlined. Black text appears in both […]

Economy

The Federal Reserve now forecasts at least two rate hikes by the end of 2023

The Federal Reserve now sees at least two interest rate hikes in 2023, according to the central bank’s so-called dot plot of projections. Wednesday’s forecast showed 13 members of the Federal Open Market Committee believe the Fed will increase rates in 2023 and the majority of them believe the central bank will hike at least […]

Economy

The Fed moves up its timeline for rate hikes as inflation rises

The Federal Reserve on Wednesday considerably raised its expectations for inflation this year and brought forward the time frame on when it will next raise interest rates. However, the central bank gave no indication as to when it will begin cutting back on its aggressive bond-buying program, though Fed Chairman Jerome Powell acknowledged that officials […]

Economy

IMF chief says vaccine policy is the most important economic driver

LONDON — Vaccine policy will trump all other economic polices this year as the world tries to recover from the coronavirus crisis, Kristalina Georgieva, the head of the International Monetary Fund said at CNBC’s Global Evolve Summit on Wednesday. “Vaccine policy this year, probably next year, is going to be the most important economic policy, […]

Economy

Mortgage refinances rebound as rates drop temporarily

Robin Azougi 1st R, a licensed real estate salesperson with Douglas Elliman Real Estate, talks with prospective buyers at a house for sale in Floral Park, Nassau County, New York, on Sept. 6, 2020. Wang Ying | Xinhua News Agency | Getty Images After three straight weeks of declines, mortgage demand came crawling back, thanks […]