A logo outside a Societe Generale SA bank branch in Paris, France.Bloomberg | Bloomberg | Getty ImagesSociete Generale on Thursday reported a sharp decline in fourth-quarter net profit on the back of weaker net banking income, but launched a new 280 million euro ($302 million) share buyback program.The French lender...
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Credit card delinquencies surged in 2023, indicating ‘financial stress,’ New York Fed says
D3sign | Moment | Getty ImagesCredit card delinquencies surged more than 50% in 2023 as total consumer debt swelled to $17.5 trillion, the New York Federal Reserve reported Tuesday.Debt that has transitioned into "serious delinquency," or 90 days or more past due, increased across multiple categories during the year, but...
Social media chatter helps draw 3 million tourists in 3 days to a frigid city in northern China
For many Chinese, Harbin conjures images of ice and steel, a city both cold and tough.But this winter, the heavily industrialized city morphed into a warmly welcoming host, drawing in a record-breaking number of visitors, mainly from China's south.During the three-day New Year period from Dec. 30 to Jan. 1,...
Wall Street loves Disney’s kitchen-sink quarter, but Nelson Peltz says he isn’t backing down
Nelson Peltz, founding partner and CEO of Trian Fund Management, speaks with CNBC's Andrew Ross Sorkin on July 17, 2013 in New York.Heidi Gutman | CNBC, NBCU Photo Bank, NBCUniversal via Getty ImagesAre you not entertained, Nelson Peltz?Disney shares jumped 6% in after-market trading Wednesday after the company posted earnings...
Hedge fund billionaire Bill Ackman to launch a NYSE-listed fund for regular investors
Bill Ackman, Pershing Square Capital Management CEO, speaking at the Delivering Alpha conference in New York City on Sept. 28, 2023.Adam Jeffery | CNBCPershing Square's Bill Ackman is set to offer a new investment vehicle listed on the New York Stock Exchange, aiming to leverage his following among Main Street investors.The...