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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Wall Street gains ground following a solid jobs report

1 day ago | cheddar.com | Damian J. Troise

NEW YORK (AP) - Stocks rose on Wall Street Friday following a better-than-expected report on the U.S. job market. The S&P 500 index rose 1.2% in afternoon trading. The benchmark index remains on track to notch a second consecutive winning week. The Dow Jones Industrial Average added 448 points, or 1.1% as of 3:03 p.m. Eastern. The Nasdaq composite rose 1.4%The gains were broad, with every sector in the benchmark S&P 500 rising.
Trump vs. Musk goes nuclear

1 day ago | cheddar.com | Peter Green

Forget Brad and Angelina, Ben and Jenn, The Beatles, Brexit, or even Henry VIII and his wives. This is the biggest split in recent history. Donald Trump and Elon Musk have officially ended their bromance, and it looks like it will spell trouble for the house of government-subsidized cards that make up Elon's business empire.
Dave's Hot Chicken sold to Subway owner in a $1 billion deal

4 days ago | cheddar.com | Dee-Ann Durbin

Dave's Hot Chicken said Monday it has been acquired by the private equity firm Roark Capital in a deal valued at $1 billion. Dave's Hot Chicken got its start in 2017 as a popup in a Los Angeles parking lot. It has grown exponentially since then and expects to end this year with 400 restaurants worldwide. The brand specializes in Nashville-style hot chicken. Investors in Dave's Hot Chicken have included the rapper Drake, who gives away hot chicken sliders every year on Oct. 24, his birthday.
When there's a gold rush, sell shovels

1 week ago | cheddar.com | Peter Green

When uncertainty hits the markets, some people see an opportunity to start trading. Take the latest Wall Street phenomenon, the so-called "TACO trade," for example. Coined by Financial Times reporter Robert Armstrong, the term is short for "Trump Always Chickens Out," and it's a trade to buy stocks that fall when Trump announces punitive tariffs of one kind or another, and then sell them when, a few days later, Trump inevitably backs off on his tariff threat. Volatility, meet trading opportunity.
Uber ├╝ber alles

2 weeks ago | cheddar.com | Peter Green

It's been a bumpy ride for Uber $UBER, which lost billions of dollars under founder Travis Kalanick, subsidizing rides to win users away from traditional taxi and car rental services. But it looks like under the leadership of CEO Dara Khosrowshahi, who arrived in 2017, the ride-hailing app is finally back in the good graces of investors-and riders.
Majority of US states now have laws banning cellphones in schools

2 weeks ago | cheddar.com | Jeff Amy

ATLANTA (AP) - Florida was the first state to pass a law regulating the use of cellphones in schools in 2023. Just two years later, more than half of all states have laws in place, with more likely to act soon. Bills have sprinted through legislatures this year in states as varied as New York and Oklahoma, reflecting a broad consensus that phones are bad for kids. Connecticut state Rep.
Big Blue gets bigger, without the blues

3 weeks ago | cheddar.com | Peter Green

Forget punch cards, forget Charlie Chaplin selling PCs. Forget ThinkPads. All that was sold off years ago. IBM, the company that turned the personal computer and the laptop into household items, has reinvented itself as an AI consulting company, and its stock is booming. Still part of the slower and sturdier Dow Jones Industrial Average (it makes mainframes and quantum computers), IBM's shares are up 20% this year, while the Dow is down half a point since January 1. How did that happen?
McDonald's plans to hire 375,000 U.S. workers this summer

3 weeks 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

4 weeks 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

1 month 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.