Wells Fargo CEO: Interest Rates Need to Normalize
US: Consumer Goods
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When you see that 'sale' sign—20 percent off, 30 percent off, 50 percent off—you assume you're getting a deal, but the sale price may not be a deal at all.
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High-end consumers are still shopping, but they are doing so with caution according to some executives from the high-end retail and recreational busines sector.
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Two billion dollars was pulled out of UBS's wealth management division in the first quarter. It's difficult to say how much of the loss stemmed from the subprime crisis, but smaller banks in Switzerland have been picking up business from the troubled market leader.
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When Rene Obermann took over Deutsche Telekom at the end of 2006 he was tasked with the firm's struggling domestic operations. But his non-domestic challenges have been—and continue to be—plentiful.
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Investors are watching Russian beer venture BBH and struggling Anglo-Irish Bank, both of which report earnings Wednesday.
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Bankruptcy filings by U.S. consumers jumped 47.7 percent in April from one year ago as families cope with fallout from the subprime mortgage crisis, the American Bankruptcy Institute said Friday.
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U.S. rice futures rose to a fresh all-time high on Wednesday on worries about supply shortages which have triggered political unrest and export restrictions designed to protect dwindling domestic stocks.
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Investment bank bailouts, home foreclosures and job losses have spread economic gloom through America but in New York, at least, there's one industry still weathering the storm -- high-end weddings.
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Procter & Gamble said on Tuesday its board of directors had approved a 14 percent rise in its quarterly dividend to 40 cents per share.
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The vacancy rate at U.S. strip malls rose to the highest level since 1996 in the first quarter of 2008, while that for big malls reached levels unseen since 2002, research firm Reis said on Friday.
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Sony's $699 32-inch LCD TV set is seen as a challenge to low-cost manufacturers, but low end makers aren't shaking in their boots
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Americans may be drinking less, but they're drinking better.
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For several years, rum distillers have been trying to ditch the product's image, which is so closely linked to pirates, palm trees, and cheap daiquiri drinks, in an attempt to capture their fair share of sales to cocktail-swilling trendsetters.
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The distilled spirits industry expects its U.S. revenues to increase 4.6 percent in 2008, down from last year's growth rate, a trade group said Friday, as the weaker economy forces people to tighten their budgets for going out.
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Consumer confidence fell to an all-time low as worries about jobs, energy bills and home foreclosures darkened people's feelings about the country's economic health and their own financial well-being.
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Western Europe has long been the most popular getaway for U.S. tourists, but rising airfare and the weak dollar may have Americans traveling to more exotic destinations in 2008.
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U.S. retailers saw sales rise 3.6 percent in holiday shopping, at the lower-end of expectations. Sales were helped by a late-season spending surge on some items, according to data released Tuesday.
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General Electric recalled 92,000 combination wall and microwave ovens after at least 35 incidents of fire that damaged property, the company and the Consumer Product Safety Commission said Wednesday.
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Tests on more than 1,200 children's products, most of them still on store shelves, found that 35 percent contain lead -- many with levels far above the federal recall standard used for lead paint.
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No reason has been given yet for the departure of founder and executive chairman George Zimmer, reports CNBC's Courtney Reagan. Zimmer has long been the face of the company.
Wednesday, 19 Jun 2013 | 10:52 AM ETCNBC's Rick Santelli, explains why he hears 'crickets" when he asks questions about Fed Chairman Bernanke's policies. "Enough is enough," he rants.
Wednesday, 19 Jun 2013 | 11:36 AM ETAre reporters lobbing "softball" questions at the Fed chairman? CNBC's Rick Santelli and the Wall Street Journal's Jon Hilsenrath, debate whether the economy continues to need quantitative easing. I'm trying to inform the public about what the Fed is up to, says Hilsenrath.