COST Financial News

GENEVA (Reuters) — The heads of the World Bank and the World Trade Organization on Monday called for countries to boost efforts to make trade in global services more transparent and predictable, saying this could help developing countries reduce poverty.

U.S. consumer inflation rose less than expected last month, fueling optimism that the Federal Reserve may slow the pace of interest rate hikes that have pushed borrowing costs close to a 15-year high.

One of the oldest monarchies in the world, the British royal family has a net worth in the billions. 

Millennials are buying homes at a lower rate than generations before, and an increasingly difficult housing market could exacerbate a problem that has far-reaching impacts on the entire economy. 

Among the biggest losers in yesterday's selloff were Netflix and other streaming stocks. Netflix (NFLX) shares fell 9% yesterday following reports the streaming giant is falling short on viewership guarantees it made to advertisers for its new ad-supported streaming service. Shares are 1% higher in early trading Friday.

Real Estate Investment Trusts, vehicles that pay out most profits as dividends, are better positioned to weather high interest rates and recession fears than private equity real estate or stocks, according to analysts at Bank of America and CenterSquare Investment Management.

Retail sales fell 0.6% in November, the largest decline this year and double what economists expected, as a slowing economy and rising borrowing costs continue to weigh on consumers.

Billionaire Mark Cuban amassed his fortune in several ways: a savvy bet on the early internet, cryptocurrencies, and even owning a professional sports team. Yet after all that, he hasn't aspired to be king—until now. That's his role in Royal Runaway, his latest film set for release at the end of 2023. He plays Philippe, the top royal in the fictional European nation of Caminelle, where his son, Prince Alex, is in line for the throne. Instead, Alex, played by sports announcer Alex Day, flees to Long Island, applies for work at a winery, and falls in love with a woman who isn'taware of his past. «Mark Cuban is considered a bit of American royalty, so it's really fun to have him playing King Philippe in my latest holiday film,” said the film's writer and director, Candice Cain.

Roku Inc. (ROKU), among the nine most-downloaded entertainment apps in the U.S., will likely report its first-ever year-over-year revenue decline in the first quarter as a tepid advertising market outweighs the growing popularity of its Roku Channel.

BuzzFeed shares dropped more than 20% after CEO Jonah Peretti said the company is shutting down its news division as part of a 15% workforce reduction affecting 180 jobs.

Nike (NKE) shares jumped over 13% in pre-market trading after the athletic apparel maker posted earnings and revenue that both topped analyst expectations, though inventories remain high.

The ongoing decline in mortgage rates helped send home loan applications higher last week, in what Mortgage Bankers Association (MBA) deputy chief economist Joel Kan called “a step in the right direction.”

Media giant Warner Bros. Discovery Inc. (WBD) predicts write-downs and other restructuring costs could be as high as $5.3 billion, far more than previously estimated.

Homebuilder confidence fell again in December, capping off a year of declines every month as soaring mortgage rates, inflation, and buyer affordability issues crimped the market.

Robinhood (HOOD) and allied market makers including Virtu Financial (VIRT) have come out against newly proposed rules that, if passed, would amount to the largest change in securities market regulation in over a decade.

U.S. officials hailed a milestone for fusion energy research Tuesday, even as they acknowledged fusion power plants harnessing the power of the sun to supply abundant clean energy may remain decades away at best.

Americans are poised to set travel records this Independence Day, beating the 2019 marks hit for both air and car mileage while likely shrugging off persistent high fuel and travel ticket costs to celebrate the summer holiday.

The inflation gauge preferred by the Federal Reserve rose in November at the slowest pace in four months as prices for goods dropped.

Jury selection is under way in a class action suit accusing Tesla (TSLA) CEO Elon Musk of recklessly harming shareholders when he wrongly claimed to have secured a Tesla buyout in 2018.

Still shopping for Mother’s Day? Be prepared to pay about 10% more for flowers, jewelry, or even a card thanks to persistent inflation. Stationery supplies and greeting cards are 9.7% more expensive than last year, while jewelry is 9.9% pricier, according to an analysis by Investopedia. A one-carat diamond costs about $5,248, the latest data from the Diamond Price Index shows.

A flight notification system outage at the Federal Aviation Administration grounded all planes nationwide for several hours Wednesday morning, just weeks after a major winter storm caused massive disruptions to air travel and airline business.