Cheddar News

Cheddar is a financial news network that streams live, created by Jon Steinberg. It broadcasts every day from various locations, including the New York Stock Exchange, NASDAQ, the Flatiron Building, and even the White House lawn and briefing room in Washington, D.C. Cheddar focuses on reporting the latest in products, technologies, and services.

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McDonald's plans to hire 375,000 U.S. workers this summer

1 day ago | cheddar.com | Dee-Ann Durbin

McDonald's said Monday it plans to hire up to 375,000 U.S. restaurant employees this summer, its biggest hiring push in years. The Chicago burger giant said the beefed-up job openings at both company-owned and franchised stores are partly due to a U.S. expansion. The company, which has more than 13,500 restaurants in the U.S., plans to open 900 more by 2027.
CVS nurses itself back to health

6 days ago | cheddar.com | Peter Green

CVS has itself covered coming and going: It's not just a retail pharmacy where generics cost twice what they sell for at independent drug stores-it's also a health insurer, a general retailer and, most lucrative of all, a pharmacy benefits manager. Tie all those together, and you have a healthcare conglomerate whose shares are up more than 50% so far this year. Good news, right? Well, kinda.
Emirates reports record profit as staff get 22-weeks pay as bonus

6 days ago | cheddar.com | Jon Gambrell

DUBAI, United Arab Emirates (AP) - Long-haul carrier Emirates reported on Thursday that it earned annual profits of $5.2 billion, with the state-owned firm declaring itself the world's most profitable airline as global aviation fully returned to flight after the disruption caused by the coronavirus pandemic. The profits came as the Dubai-based carrier served 53.7 million passengers out of its hub of Dubai International Airport, compared to 51.9 million passengers in the fiscal year prior.
Which stocks are thriving this year?

1 week ago | cheddar.com | Peter Green

The first 100 days of Donald Trump's presidency have been bad for the stock market. Since Trump took office on January 21, the Dow is down 7.23%, the S&P 500 is down 7%, and the economy contracted by 0.3% in Q1. It looks like the first chapter of an impending recession. Some companies, however, are making a silk purse of this sow's ear economy. Take Palantir, the tech, surveillance, and military contractor co-founded by chairman Peter Thiel and CEO Alex Karp.
Trump's power/Powell struggle

2 weeks ago | cheddar.com | Peter Green

It ain't over yet. Slagging off Fed chair Jerome Powell, and threatening to fire him didn't do Donald Trump any favors. "If I want him out, he'll be out of there real fast, believe me," Trump told reporters at the White House a week ago. The stock and bond markets balked, with the S&P 500 dropping 3.36% on Monday when markets reopened after the Good Friday holiday. So Trump backed down for now, which at least got the S&P back up about 4.2%.
Can Goldman say 'recession'?

3 weeks ago | cheddar.com | Peter Green

For the world's most successful bank, Goldman Sachs sure seems to be having trouble deciding where the economy is going. In a series of reports, as well as statements by CEO and part-time DJ David Solomon, the quintessential Wall Street bank has been calling a recession, then backing down, then calling it again. It's a delicate balancing act for Solomon, who has seen how the Trump Administration can focus unwanted scrutiny on law firms and universities. He wants to keep his company safe.
Are tariffs sending 'the wrong message'?

1 month ago | cheddar.com | Peter Green |Peter Gréen

Has President Donald Trump bitten off more than he can chew? Wilbur Ross, the secretary of Commerce during Trump's first term, certainly thinks so, as he explained in an exclusive interview with us on Wednesday, shortly before Trump announced a 90-day pause on his plan to impose punitive sanctions on America's trading partners. (This interview has been condensed and edited for clarity.)What do you make of this current situation?
First You Get Tariffs, Then You Get ... What?

1 month ago | cheddar.com | Peter Green |Peter Gréen

It wasn't a war plan. It wasn't a battle plan. It was simply a broadside unloaded on the source of American prosperity, the trading partners who buy our stuff and fund our deficits. If anyone still thought President Donald Trump was bluffing when he said he'd slap tariffs on all of America's imports, the cards are now on the table, and none of them are jokers.
23andMe and Everyone Else

1 month ago | cheddar.com | Peter Green |Peter Gréen

So you thought you could keep a secret? Well, now every secret encoded in your DNA is about to be sold to the highest bidder as the genetic testing company 23andMe goes into Chapter 11 bankruptcy protection. Now the millions of people who paid $99 to check their DNA, hoping to learn about their ancestry, lost siblings, or hereditary disease, are wondering who's now gonna know everything about them.
Is Tesla Just a Meme Stock Now?

1 month ago | cheddar.com | Peter Green |Peter Gréen

Is Elon Musk the Wizard of EV, or is he just the man behind the curtain? That's the question investors and investigators are increasingly asking, as they look at the financial state of Tesla. Since January, the company's diluted market cap has dropped from $1.7 trillion to $800 billion. And Tesla's price-to-earnings ratio, at 104, is more than 150% higher than the Nasdaq's average P/E at 40.