Jerome Powell: Fed is confident inflation rates will go down

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. London (CNN Business)As the global economic recovery from the pandemic gathers steam, big businesses are grappling with a formidable problem: What to do about rising prices? What’s happening: On earnings calls across […]

ERYTECH Pharma Stock More Than Doubles; Here’s Why

ERYTECH Pharma S.A. (ERYP), a clinical-stage biopharmaceutical company developing red blood-cell based cancer therapeutics, has been granted Fast Track designation for its lead drug candidate, Eryaspase, for the treatment of hypersensitive acute lymphocytic leukemia. Acute lymphoblastic leukemia (ALL) is a cancer of the blood and bone marrow that is the most common type of cancer […]

Robinhood IPO gives founders Tenev, Bhatt a net worth of $4.6B combined

Grilling company outpaces Robinhood IPO on opening day Traeger CEO Jeremy Andrus on the grilling brand’s goals and how to attract new BBQ consumers. Robinhood Markets Inc.'s initial public offering might have disappointed some, but it handed co-founders Vlad Tenev and Baiju Bhatt a combined $4.6 billion net worth between them. The firm's stock started […]

Nasdaq futures fall as stocks try to round out strong July

Futures contracts tied to the major U.S. stock indexes traded mixed at the start of the overnight session Thursday evening as a soft earnings report from Amazon threatened to curb Wall Street's otherwise strong July on the month's final day of trading. S&P 500 futures shed 0.3%, while those tied to the Nasdaq 100 fell […]

Credit Suisse takes huge hit from hedge fund collapse

London (CNN Business)Credit Suisse investment bankers allowed Archegos Capital to take “voracious” and “potentially catastrophic” risks that culminated in the US hedge fund’s spectacular collapse in March, costing the bank $5.5 billion and causing chaos on Wall Street, according to an investigation published Thursday. The Swiss bank published a report by law firm Paul, Weiss, […]

Macquarie trims dividend payout target

Macquarie Group is trimming the amount of profit it will aim to pay out in dividends, as the investment banking giant sees growing opportunities to deploy its billions in excess capital. Ahead of Macquarie’s annual general meeting in Sydney on Thursday, the bank reported a strong rebound in profit during the June quarter, compared with […]

Stocks making the biggest moves midday: Alphabet, Starbucks, Boeing and more

Check out the companies making headlines in midday trading. Alphabet — Shares of the Google parent popped more than 3% on the back of the company's stellar quarterly earnings. Alphabet registered a 69% jump in advertising revenue in the second quarter, while it posted an EPS of $27.26, crushing expectations of $19.34 per share, according […]

Pfizer sees COVID-19 vaccine revenue rise, expects to deliver 2.1 billion doses in 2021

Pfizer seeks authorization for COVID vaccine booster against Delta variant Pfizer is seeking FDA approval for a third coronavirus vaccine dose that would protect against the Delta variant. FOX Business’ Connell McShane with more. Pfizer on Wednesday said it expects to deliver 2.1 billion doses of its COVID-19 vaccine in 2021, with plans to manufacture […]