ECB and Bank of England raise interest rates again to fight inflation

London CNN — Europe’s two largest central banks have hiked interest rates sharply on Thursday, opting for a bigger hike than the US Federal Reserve as inflation in the region remains near historically high levels. The European Central Bank (ECB) and the Bank of England raised their rates an additional half point. Benchmark interest rates … Read more

Shell posts nearly $40 billion in profit, announces $4 billion in buyouts

Hong Kong/London CNN — Shell made a record a profit of nearly $40 billion in 2022, more than double what it made the year before after oil and gas prices spiked following Ukraine’s invasion of Ukraine. Russia. Europe’s biggest oil company by revenue reported adjusted annual profit of $39.9 billion on Thursday – more than … Read more

Meta stocks rise nearly 20% as Zuckerberg pledges to make 2023 a ‘year of efficiency’

New York CNN — For years, Facebook and its CEO Mark Zuckerberg have invested heavily in growth, including in areas like virtual reality with unproven potential. But after a brutal year in which the company lost more than $600 billion in market value, Zuckerberg has started speaking the language of Wall Street — and they’re … Read more

Biden proposes ‘junk fee’ bill to cut hidden fees for credit cards and concert tickets

CNN — President Joe Biden on Wednesday announced further progress on his administration’s “competition agenda,” specifically targeting unwanted fees while calling on Congress to pass legislation targeting hidden fees in multiple sectors. These costs can “drain hundreds of dollars a year from the pockets of hard-working American families, especially people who are already struggling to … Read more

Bed Bath and Beyond is closing another 87 stores. See the list

New York CNN — Bed Bath and Beyond is closing another 87 stores as the struggling retailer heads into bankruptcy. The store closures add to the 150 closures announced by Bed Bath and Beyond last August. The new listing includes 5 buybuy Baby locations and the remaining 49 Harmon Face Value stores, which once sold … Read more