How major US stock indices fared on Friday

The stock market ended an unusually turbulent week with its fifth straight weekly decline By The Associated Press May 6, 2022, 8:33 PM • 2 minute read Share on FacebookShare on TwitterEmail this article The stock market ended an unusually turbulent week with its fifth consecutive weekly decline. The bumpy and mostly lower run came … Read more

Luxury hotel explosion in Havana kills 22, injures dozens

HAVANA (AP) — A powerful explosion apparently caused by a natural gas leak killed at least 22 people, including a child, and injured dozens on Friday when it blew through the exterior walls of a luxury hotel in heart of the Cuban capital. No tourists were staying at the 96-room Hotel Saratoga in Havana because … Read more

Dozens more civilians rescued from Ukrainian steel plant

ZAPORIZHZHIA, Ukraine (AP) — Dozens more civilians were rescued Friday from tunnels under the beleaguered steelworks where Ukrainian fighters in Mariupol made their last stand to prevent Moscow’s full takeover of the strategically important port city . Russian and Ukrainian officials said 50 people had been evacuated from the Azovstal plant and handed over to … Read more

Banking regulators plan to rewrite racist and outdated ‘Community Reinvestment Act’

Photo: Anton_AV (Shutterstock) On Thursday, the three largest U.S. banking regulators announced they are planning a major overhaul of racist regulations annexed to the Community Reinvestment Act. The law, which was passed in 1977, has been used to fight racism practices used in finance to avoid lending to certain neighborhoods. This was also known as … Read more

Fed’s fight against inflation will bring down ‘fragile’ stocks

CNBC’s Jim Cramer said Friday that the Federal Reserve’s attempts to crush inflation by raising interest rates will inevitably drive down “once-high-flying stocks” — even those that are “legit” companies. The stock market is “a major risk in containing inflation. It’s not just collateral damage, it’s one of the [Fed Chair Jay Powell’s] targets. Not … Read more

Starbucks charged with over 200 labor violations in NLRB complaint

Starbucks workers react by speaking to the media after the union vote in Buffalo, New York, on December 9, 2021. Lindsay De Dario | Reuters The regional director of the National Labor Relations Board in Buffalo, NY, filed a lawsuit Friday accusing Starbucks of 29 charges of unfair labor practices that included more than 200 … Read more

Own strong names and have money to bounce back in the market

CNBC’s Jim Cramer said Friday that bearing the current market is a waiting game for a rally – and investors need to be prepared for that time. “Your portfolio should be split between cash and stocks that can thrive in a recession. … You have to accept the fact that we’re just trying to stay … Read more

Wall Street is fed up with Under Armour, Nike and Adidas

under protection (AU) fell 25% on Friday after the company posted a $60 million loss in its latest quarter due to supply chain delays and China’s recent Covid-19 lockdowns. Chinese authorities imposed a lockdown on Shanghai, China’s financial hub, in late March following an increase in coronavirus cases. Although the government started lifting some restrictions … Read more