Reported about 7 hours ago
The U.S. is set to grant a specific license to Chevron, allowing the company to perform minimal maintenance on essential operations in Venezuela, according to Bloomberg News. This move comes as Chevron's current license is about to expire, and while Venezuelan partners seek extensions, any changes require approval from U.S. Treasury and State Departments. Despite Venezuela's significant oil reserves, production has dramatically decreased due to past mismanagement and U.S. sanctions, although recent licenses have led to a slight increase in oil output since 2023.
Source: YAHOO
Reported about 8 hours ago
President Trump revealed a partnership between United States Steel Corp. and Japan's Nippon Steel Corp., which he claims will keep US Steel based in America and create around 70,000 jobs. Despite market optimism leading to a surge in US Steel shares, details about the agreement remain sparse, and uncertainty looms over whether a $14.1 billion takeover proposal has been endorsed. While praising the potential for revitalization of the American steel industry, concerns arise from union leaders regarding Nippon Steel's past record and the impact on domestic jobs.
Source: YAHOO
Reported about 9 hours ago
Advisory firm Glass Lewis has endorsed the re-election of Toyota Motor Chairman Akio Toyoda at the upcoming annual general meeting, reversing its previous opposition over the last two years due to governance concerns. While shareholder support for Toyoda has declined recently, this year marks a shift with recommendations for his re-election from both Glass Lewis and Institutional Shareholder Services.
Source: YAHOO
Reported about 10 hours ago
Four partners from the law firm Paul Weiss are leaving to start a new practice following the firm's controversial deal with President Trump to revoke an executive order against them. In an internal email, they expressed disappointment in not being able to share their news personally but honored their time at the firm. Notably, they include influential lawyers with prior significant roles in government and high-profile legal cases, and their departure adds to ongoing tensions in the legal community regarding Trump's administration.
Source: YAHOO
Reported about 10 hours ago
Pratt & Whitney has announced a tentative agreement with 3,000 striking machinists in Connecticut, who have been demanding better job security, wages, retirement benefits, and healthcare since May 4. The union plans to vote on the revised contract on May 27, highlighting that the agreement addresses key concerns of its members. The strike comes amid financial challenges for the company due to tariffs affecting profits.
Source: YAHOO
Reported about 10 hours ago
Next week is crucial for investors with key events including Nvidia's Q1 earnings report, expected to showcase strong performance due to demand for its latest chips. Additionally, Fed Chair Jerome Powell will speak at Princeton University and fresh inflation data from April's Personal Consumption Expenditures (PCE) index will be released, with forecasts suggesting upticks in both total and core PCE.
Source: YAHOO
Reported about 11 hours ago
Chinese automaker GAC has commenced the sale of hybrid and electric vehicles in Brazil and aims to establish a local manufacturing plant by late 2026. With its investment plans totaling approximately 6 billion reais, GAC anticipates reaching sales of 100,000 units within five years, capitalizing on the rapidly growing electric vehicle market in Brazil amid increasing competition from other Chinese manufacturers.
Source: YAHOO
Reported about 11 hours ago
President Trump revealed a partnership between U.S. Steel and Japan's Nippon Steel, pledging to keep the headquarters in Pittsburgh and attract $14 billion in investments that could create 70,000 jobs. Despite past opposition surrounding foreign control of U.S. steel, the deal aims to revitalize the struggling U.S. steel industry. The announcement follows contentious discussions on national security and foreign investment, as the steel sector seeks a pathway to recovery amid its declining influence.
Source: YAHOO
Reported about 11 hours ago
On May 23, 2025, President Donald Trump signed executive orders aimed at revitalizing the US nuclear power industry, including expedited construction of new reactors and government financing initiatives. This move seeks to address increasing electricity demands and reestablish America as a leader in nuclear energy, a sector it has lagged in behind countries like China and Russia. The orders also propose significant changes to the regulatory process, intending to simplify approvals and drive innovation while highlighting the potential of nuclear power as a clean energy source.
Source: YAHOO
Reported about 12 hours ago
In a recent analysis of retail stocks post-earnings season, Brian Mulberry from Zacks Investment Management identifies Walmart and Home Depot as strong performers due to diverse product lines and effective cost management strategies, particularly in mitigating tariff impacts. In contrast, Target and Lowe's face challenges with slowing sales growth and heavy reliance on direct sourcing from China. Kohl's struggles with profitability and pricing pressures further highlight the disparities within the sector.
Source: YAHOO
Reported about 12 hours ago
This week, while traditional markets suffered significant losses amid fiscal concerns, Bitcoin defied expectations by rallying nearly 5% and surpassing $112,000. As old-school investments falter, crypto's institutional acceptance grows, with substantial flows into Bitcoin-centric ETFs. Despite its volatility, the growing belief in digital assets as a viable investment class is challenging the traditional views of Wall Street, marking a notable divergence in market behavior.
Source: YAHOO
Reported about 12 hours ago
As supply chains become increasingly complex, cargo theft poses significant risks to freight, operational efficiency, and reputations. A collaborative report by FreightWaves and AMAROK reveals key trends in theft, its financial impacts, and the effectiveness of current security measures through an industry survey. The report highlights high-risk commodities and offers insights into effective security strategies to help carriers combat this pressing issue.
Source: YAHOO
Reported about 12 hours ago
Approximately 3,000 striking workers at Pratt & Whitney are set to vote next week on a revised contract offer, following a nearly three-week strike that affected production at their Connecticut plants. Union leaders emphasize the importance of job security and have indicated this new proposal offers improvements in key areas after the initial offer was rejected. This strike marks the first in over two decades for the engine manufacturer.
Source: YAHOO
Reported about 12 hours ago
United Airlines faces significant challenges at Newark Liberty International Airport, one of its main hubs, due to congestion and operational limitations. Although the airline has reduced flights in response to these issues, it risks a decline in revenue and increased operating costs. Few alternative airports exist in the Northeastern U.S., and plans to increase capacity at LaGuardia and potentially return to JFK are complicated by operational constraints and slot availability. Analysts suggest that Newark remains critical for United's network, emphasizing the need to resolve the congestion challenges.
Source: YAHOO
Reported about 12 hours ago
Informatica is once again exploring a sale after receiving renewed interest from potential buyers, including Salesforce. Following a report of ongoing discussions between the two companies, Informatica's shares rose significantly. Previous negotiations in April 2024 ended without an agreement. A deal could be announced soon, though other interested parties are also in the mix.
Source: YAHOO
Reported about 12 hours ago
On May 23, 2025, the S&P 500 dipped 0.7%, marking its fourth consecutive negative trading day, fueled by renewed trade policy tensions ahead of Memorial Day. Deckers Outdoor witnessed a significant 20% drop after withholding full-year guidance due to tariff uncertainties. Ross Stores' shares fell 9.8% for similar reasons. In contrast, Intuit's shares surged 8.1% following strong quarterly results and positive full-year forecasts.
Source: YAHOO
Reported about 12 hours ago
McDonald's is closing its five beverage-focused CosMc's locations, launched in 2023, while planning to integrate some of their drink offerings into its main menu. The decision follows a test phase aimed at exploring the beverage market, allowing the chain to innovate without affecting existing outlets. The closure will happen gradually starting late June, with the CosMc's app also being discontinued.
Source: YAHOO
Reported about 12 hours ago
President Donald Trump has intensified his trade war rhetoric by threatening a 50% tariff on the European Union and a potential 25% charge on all foreign-made smartphones, affecting brands like Apple and Samsung. Trump accused the EU of delaying negotiations and unfairly targeting U.S. companies, asserting that the tariffs are essential for fairness. Despite concerns over the potential economic impact, he claimed foreign entities might absorb the costs. The threats have unsettled markets, causing stock losses and raising doubts about the future of U.S.-EU trade relations.
Source: YAHOO
Reported about 12 hours ago
The U.S. Supreme Court has temporarily halted a lower court's order for Elon Musk's Department of Government Efficiency (DOGE) to release documents and make officials available for testimony. This administrative stay, requested by the Trump administration, will allow the justices time to determine if they will impose a more permanent pause. The case centers on whether DOGE qualifies as a federal agency under the Freedom of Information Act, affecting its obligations to disclose records and information. The administration faces upcoming deadlines to provide this information amid ongoing legal disputes.
Source: YAHOO
Reported about 12 hours ago
President Donald Trump has announced a potential 25% tariff on Apple and Samsung devices, urging these companies to relocate their manufacturing to the US. Trump's threats follow recent statements about Apple moving production to India, and he indicated that tariffs would be applied to all makers of such products to maintain fairness. This move poses significant challenges for these companies, whose supply chains have been established in Asia for years, and could lead to increased costs for consumers.
Source: YAHOO
Reported about 12 hours ago
President Trump announced on Truth Social that U.S. Steel will partner with Japan's Nippon Steel, promising to create 70,000 jobs and contribute $14 billion to the U.S. economy. Following his announcement, U.S. Steel's stock rose by 21%, reflecting strong investor confidence, while shares of Cleveland-Cliffs, which sought to acquire U.S. Steel, declined. This decision comes after the Biden administration previously blocked a $14.1 billion merger between the two companies due to national security concerns.
Source: YAHOO
Reported about 12 hours ago
The week of May 26th promises to be significant for Wall Street as investors await Nvidia's quarterly earnings report scheduled for release after the market closes on Wednesday. Additionally, attention will be given to PCE data, the Federal Reserve's favored measure of inflation, along with updates regarding President Trump’s tariff plans.
Source: YAHOO
Reported about 12 hours ago
McDonald's announced the closure of its CosMc's restaurants, a new dining format launched last year, but intends to trial drinks inspired by the concept in its existing locations. Although CosMc's introduced unique beverages like matcha iced lattes and turmeric spiced lattes aimed at afternoon snackers, the complexity of these drinks may not integrate well with standard McDonald's operations. The company had opened eight CosMc's restaurants, with plans to shut down all locations by the end of June, while also ceasing the associated app.
Source: YAHOO
Reported about 13 hours ago
The bond market is showing troubling signs as Treasury yields surge amid fears of a looming US debt crisis, with the 30-year yield hitting levels not seen since 2007. Experts warn that rising interest rates reflect increased demands from investors to mitigate growing fiscal risks, exacerbated by a newly proposed tax bill projected to increase the national debt by $4 trillion over the next decade without immediate spending cuts. Additionally, concerns over global market dynamics, including a fiscal crisis in Japan, add to the uncertainty as Wall Street braces for potential fallout.
Source: YAHOO
Reported about 13 hours ago
U.S. President Donald Trump reignited trade war fears by announcing potential 50% tariffs on European goods and a 25% charge on Apple iPhones, leading to market declines. While some analysts believe the tariff situation may stabilize quickly, concerns about high bond yields and their impact on the economy persist, prompting a nervous mood among investors as markets closed for the long weekend.
Source: YAHOO