U.S. inflation at the wholesale level rose to a three-year high in March due to surging oil prices tied to the Iran war, but aside from energy the cost of other goods and services were relatively tame.
U.S. inflation at the wholesale level rose to a three-year high in March due to surging oil prices tied to the Iran war, but aside from energy the cost of other goods and services were relatively tame.
(RTTNews) - A report released by the Labor Department on Tuesday showed producer prices in the U.S. increased in line with expectations in the month of March.
(RTTNews) - A report released by the Labor Department on Tuesday showed producer prices in the U.S. increased in line with expectations in the month of March.
tbradford Citigroup ( C ) stock rose 1.5% in Tuesday premarket trading after the bank reaffirmed its 2026 net interest income guidance and posted Q1 earnings and revenue beats, driven by robust performance in its Markets and Wealth businesses. The lender still expects full-year 2026 NII, ex-markets, to rise ~5%-6% from 2025’s $49.8B and an efficiency ratio of ~60% for the year. Furthermore, "we re...
tbradford Citigroup ( C ) stock rose 1.5% in Tuesday premarket trading after the bank reaffirmed its 2026 net interest income guidance and posted Q1 earnings and revenue beats, driven by robust performance in its Markets and Wealth businesses. The lender still expects full-year 2026 NII, ex-markets, to rise ~5%-6% from 2025’s $49.8B and an efficiency ratio of ~60% for the year. Furthermore, "we remain very much on track to deliver the 10-11% RoTCE target this year," Chair and CEO Jane Fraser said. Q1 GAAP EPS of $3.06, beating the average analyst estimate of $2.63, climbed from $1.19 in Q4 2025 and $1.96 in Q1 2025. Q1 revenue of $24.6B, topping the $23.6B consensus, increased from $19.9B in the prior quarter and $21.7B a year ago. Net interest income of $15.7B, exceeding the consensus of $14.0B, was flat Q/Q and increased 12% Y/Y. Q1 provision for credit losses increased to $2.81B from $2.22B in the prior quarter and $2.72B a year ago. Total operating expenses of $14.3B vs. $13.8B in the previous quarter and $21.6B in the year-ago period. End-of-period loans rose to $762B from $752B in Q4. EOP deposits of $1.45T grew from $1.40T at the end of Q4. "We’ve entered into the final phase of our divestitures, and 90% of our transformation programs are now at or near our target state," Citi's ( C ) Fraser said. "We demonstrated our commitment to returning capital by repurchasing $6.3 billion shares during the quarter." Revenue by segment: Services: $6.10B, down 3% Q/Q and up 17% Y/Y. Markets: $7.25B, surging 57% Q/Q and rising 19% Y/Y. Total Banking, which includes Investment Banking and Corporate Lending: $1.72B, down 5% Q/Q and up 13% Y/Y. Investment Banking revenue of $1.33B slipped 2% from Q4 and increased 19% Y/Y, reflecting growth in Advisory and Equity Capital Markets, partially offset by a decline in Debt Capital Markets. Wealth: $3.06B, up 7% Q/Q and 11% Y/Y, driven by growth in Citigold and Retail Banking and the Private Bank, partially offset by lower revenues i...
The Senate Banking Committee will hold a confirmation hearing next week for Kevin Warsh , President Donald Trump’s nominee for Federal Reserve chair, the panel’s top Republican said Tuesday. “Next week we’ll have a hearing with Kevin Warsh being present,” South Carolina Senator Tim Scott said in the interview on Fox Business. “We’ll talk through the economy. We’ll talk through price stability and ...
The Senate Banking Committee will hold a confirmation hearing next week for Kevin Warsh , President Donald Trump’s nominee for Federal Reserve chair, the panel’s top Republican said Tuesday. “Next week we’ll have a hearing with Kevin Warsh being present,” South Carolina Senator Tim Scott said in the interview on Fox Business. “We’ll talk through the economy. We’ll talk through price stability and inflation. We’ll talk about the independence of the Fed.” Scott didn’t reveal a specific date for the hearing. Scott also said that he expects the Justice Department will drop its criminal investigation into a renovation project at the central bank in the coming weeks, clearing the way for Warsh to be voted favorably out of the committee. “The second step, later on, we’ll have a vote on Kevin Warsh,” Scott said. “I believe that the DOJ will finish and wrap this up in the next several weeks and Thom Tillis will be a yes on Kevin Warsh.” Tillis, a North Carolina Republican, has said he wouldn’t support Warsh’s confirmation until the DOJ probe was resolved, as he viewed the investigation as a threat to the Fed’s independence. Warsh met with Tillis in March, drawing praise from the senator even as Tillis reiterated his intention to hold up Warsh’s confirmation. High Stakes Hearing The high-stakes testimony will be a forum for senators of both parties to probe Warsh’s views on the economy and monetary policy. Investors will be particularly keen to see how Warsh balances two competing forces: the pressure he’s under from Trump for sharply lower borrowing costs and economic conditions that, at least in the near term, don’t appear to justify rate cuts. War in the Middle East has upended the US economic outlook by causing energy costs to soar. That’s added to worries over both persistent inflation and weakness in the US labor market. Amid the elevated uncertainty, Fed policymakers have largely signaled a desire to hold rates steady as they gauge the war’s fallout. Given the Trump ad...
Olga Rolenko | Moment | Getty Images For a growing share of car buyers , paying for a vehicle is a seven-year commitment. A record 22.9% of financed new-car purchases in the first quarter involved loans of at least 84 months, according to new data from car shopping and research site Edmunds. That's up from 21.2% a year prior. A decade ago, it was 10%. The average amount financed for new cars also ...
Olga Rolenko | Moment | Getty Images For a growing share of car buyers , paying for a vehicle is a seven-year commitment. A record 22.9% of financed new-car purchases in the first quarter involved loans of at least 84 months, according to new data from car shopping and research site Edmunds. That's up from 21.2% a year prior. A decade ago, it was 10%. The average amount financed for new cars also reached a record high, climbing to $43,899 in the first quarter, up from $41,473 a year earlier, Edmunds data shows. watch now VIDEO 2:19 02:19 A look at the pulse of the auto consumer Squawk on the Street As the amount continues to climb, "consumers are having to work harder to make the numbers fit — a clear sign of how strained affordability has become," said Jessica Caldwell, Edmunds' head of insights. Average sticker price staying above $50k The average sticker price on a new car in March reached $51,456, marking the 12th consecutive month that it's been above $50,000, according to Kelley Blue Book . The average transaction price after incentives was $49,275, up 3.5% from a year earlier. Read more CNBC personal finance coverage More buyers pick 7-year car loans 'to make the numbers fit': expert Tariff refunds unlikely to benefit consumers, CNBC CFO Council survey finds Average tax refund is 11% higher, latest IRS filing data shows Social Security 2027 cost-of-living adjustment estimate rises with gas prices Here's the inflation breakdown for March 2026 — in one chart How 'married filing separately' status could affect Trump tax breaks this season Student loan forgiveness may be pricier to access after new changes Personal assistant pleads guilty to defrauding elderly couple out of $10 million Gas prices should soon start slowly easing if ceasefire holds, analysts say How to save money on flights as airlines raise prices There's a key number to know before making a last-minute IRA contribution With gas above $4, drivers across the U.S. say they're cutting back National C...
jetcityimage/iStock Editorial via Getty Images CrossBridge Bio, a privately held biotech focused on developing cancer drugs, announced on Tuesday an agreement to be acquired by Eli Lilly ( LLY ) in an all-cash deal worth up to $300M. The Houston-based biotech startup, founded in 2023, is developing a new class of cancer therapies called dual-payload antibody-drug conjugates. An Investigational New...
jetcityimage/iStock Editorial via Getty Images CrossBridge Bio, a privately held biotech focused on developing cancer drugs, announced on Tuesday an agreement to be acquired by Eli Lilly ( LLY ) in an all-cash deal worth up to $300M. The Houston-based biotech startup, founded in 2023, is developing a new class of cancer therapies called dual-payload antibody-drug conjugates. An Investigational New Drug application for its lead asset CBB-120 is expected to be filed in 2026. The total value of the deal includes an upfront payment and subsequent payments subject to the achievement of development milestones. "We look forward to seeing how Lilly advances our new generation of dual-payload antibody-drug conjugates, including CBB-120, with the potential to meaningfully improve outcomes for patients with limited treatment options,” CrossBridge Bio CEO Michael Torres remarked. Indiana-based Lilly ( LLY ), well known for its obesity drug Zepbound, owns a sizable oncology portfolio led by its breast cancer therapy Verzenio, which added $5.7B in revenue last year, implying ~8% YoY growth. More on Eli Lilly Even After Shedding Some Weight, Eli Lilly and Company Isn't Prime For An Upgrade Foundayo Explained: Lilly's New Weight Loss Pill And The Amazon Effect Eli Lilly Vs. Amgen: Who Leads Obesity And IMIDs Lilly Jaypirca data shows extended progression-free survival in CLL Amazon to sell Eli Lilly’s weight loss pill via same day delivery
It's not a PC port or a remake , but Sony is returning to the Gothic world of Bloodborne . There aren't many details yet - Sony says that "plot details are still being kept under wraps" - but the game is being adapted into "an R-rated animated feature," with YouTuber Seán "Jacksepticeye" McLoughlin ( a known Bloodborne fan ) serving as a producer. No word on when the film might be premiering. Firs...
It's not a PC port or a remake , but Sony is returning to the Gothic world of Bloodborne . There aren't many details yet - Sony says that "plot details are still being kept under wraps" - but the game is being adapted into "an R-rated animated feature," with YouTuber Seán "Jacksepticeye" McLoughlin ( a known Bloodborne fan ) serving as a producer. No word on when the film might be premiering. First released in 2015 on the PS4 , Bloodborne is developed by FromSoftware, the same team behind the dark fantasy Souls series. Like those games, Bloodborne is known for its brutal difficulty, but it's also beloved for the fully-realized city of Yharnam th … Read the full story at The Verge.
(RTTNews) - PageGroup (PAGE.L, MPGPF.PK), a UK-based specialist recruitment consultancy company, on Tuesday reported lower gross profit in the first quarter, hurt by challenging market conditions in the UK, Americas and EMEA. However, the company experienced growth in Asia Pacifi
(RTTNews) - PageGroup (PAGE.L, MPGPF.PK), a UK-based specialist recruitment consultancy company, on Tuesday reported lower gross profit in the first quarter, hurt by challenging market conditions in the UK, Americas and EMEA. However, the company experienced growth in Asia Pacifi
Micron Technology's memory chips remain in high demand, and despite some shifts in the tech sector environment, that's unlikely to change for quite some time.
Micron Technology's memory chips remain in high demand, and despite some shifts in the tech sector environment, that's unlikely to change for quite some time.
Amazon (NASDAQ: AMZN) was a quintessential growth stock over the last few decades as it leveraged its e-commerce and cloud computing platforms to generate boatloads of shareholder value. That said, the company is already huge. And with a market cap of $2.25 trillion, some investors may fear that the low-hanging fruit has already been plucked. These concerns are reasonable. Mature, blue chip compan...
Amazon (NASDAQ: AMZN) was a quintessential growth stock over the last few decades as it leveraged its e-commerce and cloud computing platforms to generate boatloads of shareholder value. That said, the company is already huge. And with a market cap of $2.25 trillion, some investors may fear that the low-hanging fruit has already been plucked. These concerns are reasonable. Mature, blue chip companies usually don't report the same explosive top-line expansions as when they were scaling up. But Amazon can still reward shareholders. Let's dig deeper to see how this might play out over the next three years and beyond. Image source: Getty Images. Continue reading
D-Wave Quantum enters 2026 with surging bookings, major deals and a strategic acquisition as it accelerates quantum capabilities and expands its market reach.
D-Wave Quantum enters 2026 with surging bookings, major deals and a strategic acquisition as it accelerates quantum capabilities and expands its market reach.
The potential expansion of OpenAI services into Amazon Web Services' cloud infrastructure highlights a shift in the long-term relationship with Microsoft.
The potential expansion of OpenAI services into Amazon Web Services' cloud infrastructure highlights a shift in the long-term relationship with Microsoft.