Erin Scott/Bloomberg via Getty Images The Labor Department’s Office of Inspector General said Wednesday it is reviewing the “challenges” that the Bureau of Labor Statistics is facing in its data-collection efforts. The internal watchdog, in a letter, said it was initiating that probe after BLS announced a reduction in its data collection for two key…
Potbelly Sandwich Shop on October 3, 2015 in Louisville, Kentucky. Raymond Boyd Sandwich shop chain Potbelly will be acquired by convenience-store operator RaceTrac in a $566 million all-cash deal, the company announced Wednesday. The deal is expected to close in the fourth quarter of the year. Shares of Potbelly shot up more than 30% following…
One Wall Street strategist is wary of the near-term market outlook, even as the consensus grows more optimistic. JPMorgan equity strategist Dubravko Lakos-Bujas is worried the S & P 500 could suffer a near term pullback of roughly 5% to 8%, equal to the benchmark index slumping as low as 6,200 or 6,000, respectively, and…
An Embraer SA E190-E2 passenger aircraft stands on display on day two of the Farnborough International Airshow (FIA) 2018 in Farnborough, U.K., on Tuesday, July 17, 2018. Bloomberg | Bloomberg | Getty Images Brazilian airplane maker Embraer has landed its first U.S. sale of its efficient but slow-selling E2 jets with a 50-plane deal from…
Wells Fargo CEO Charles Scharf said Wednesday that while corporations and higher-income consumers are thriving, lower income Americans are struggling to stay afloat. The bank’s data shows that “companies are in really great shape” and spending and debt repayment rates among all income levels has been steady, but there are signs of stress among lower…
Wall Street once again sees the possibility of a super-sized rate cut by the Federal Reserve next week. The producer price index unexpectedly fell 0.1% in August . Economists polled by Dow Jones expected a gain of 0.3%. Following the report, the chance of a 50 basis-point rate cut increased to 10.2% from 7% the…
Fintech company Pipe is partnering with Uber in a new effort to help small businesses acquire loans with fewer barriers to access, CNBC has learned. Pipe is teaming up with Uber Eats to add its embedded technology to the company’s restaurant manager app. Eligible restaurants will see pre-approved capital offers from Pipe that are customized…
Check out the companies making headlines before the bell: Oracle — Shares surged 32% after Oracle reported that multicloud database revenue from Amazon, Google and Microsoft grew at the rate of 1,529% in its last quarter. That helped investors look past fiscal first-quarter earnings and revenue from the company that came in weaker than expectations….
An aerial view of homes in a neighborhood on Aug.27, 2025 in San Francisco, California. Justin Sullivan | Getty Images A sharp drop in mortgage interest rates finally got some homebuyers off the fence. It also helped more current homeowners save on their monthly payments Total mortgage application volume jumped 9.2% last week compared with…
Morsa Images | Digitalvision | Getty Images Affordable Care Act insurance premiums are set to rise sharply next year if Congress doesn’t intervene. That’s because enhanced subsidies that have reduced costs for millions of enrollees in health plans purchased through the ACA marketplace in recent years are set to expire after 2025. (The ACA is…
