Baidu kicks off its robotaxi business, after getting the OK to charge fees in Beijing
BEIJING — Baidu can start collecting robotaxi fares in a part of Beijing from Thursday, the Chinese tech giant told CNBC this week, marking a major step toward building its driverless taxi business. The regulatory approval to support robotaxis in...
Fed members ready to raise interest rates if inflation continues to run high, meeting minutes show
Federal Reserve officials at their meeting earlier this month expressed concern about inflation and said they would be willing to raise interest rates if prices keep rising. The committee that sets interest rates for the Fed on Wednesday released the...
Inflation is not going away any time soon – and Biden will have to wait it out like the rest of us
Customers stand in line to check out at a grocery store in San Francisco, California, U.S., on Thursday, Nov. 11, 2021. David Paul Morris | Bloomberg | Getty Images After lying dormant for years, inflation is once again chipping away...
The Federal Reserve is likely to become a tougher talking central bank, could end bond program sooner
Federal Reserve Chairman Jerome Powell attends the House Financial Services Committee hearing on Capitol Hill in Washington, U.S., September 30, 2021. Al Drago | Reuters Expect more tough talk from the Federal Reserve, as it may consider winding down its...
Stocks making the biggest moves midday: Gap, Nordstrom, Deere, VMware and more
A Gap store in New York, August 2, 2020. Scott Mlyn | CNBC Check out the companies making headlines in midday trading. Gap, Nordstrom — Shares of Gap and Nordstrom plummeted after the companies reported disappointing quarterly results late Tuesday citing...
Weekly jobless claims post stunning decline to 199,000, the lowest level since 1969
The ranks of those submitting jobless claims tumbled to their lowest level in more than 52 years last week, the Labor Department reported Wednesday. New filings totaled 199,000, a number not seen since Nov. 15, 1969, when claims totaled 197,000....
Key inflation figure for the Fed up 4.1% year over year, the highest since January 1991
Gasoline prices are displayed at a gas station on November 16, 2021 in San Mateo County, California. Liu Guanguan | China News Service | Getty Images Inflation rose strongly in October, accelerating at its fastest pace since the early 1990s,...
Unusual holiday home-buying surge pushes mortgage demand higher
A real estate sign advertising a home “Under Contract” is pictured in Vienna, Virginia, outside of Washington. Larry Downing | Reuters An unusual surge in home buying, just as the market enters the historically slow holiday season, is driving mortgage...
Not since Americans came home from World War II has inflation run through the economy like it is now
Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, U.S. June 3, 2021. Mike Blake | Reuters Not since Americans came home from World War II has inflation percolated through...
Stock futures are little changed after tech shares continue their sell-off
Traders work on the floor of the New York Stock Exchange (NYSE) on November 15, 2021 in New York City. Spencer Platt | Getty Images U.S. stock futures were little changed on Tuesday night after tech shares sold off for...
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