Reported 27 days ago
Anne Wojcicki's successful bid to regain control of the bankrupt genomics company 23andMe does not resolve ongoing legal challenges related to the DNA data of 15 million consumers. The proposed sale is facing scrutiny from state attorneys general and privacy advocates concerned about the transfer of sensitive data and whether the nonprofit status of Wojcicki's organization shields it from data protection laws. As the bankruptcy court considers the sale, questions about the future of consumer privacy and consent in this case remain unresolved.
Source: YAHOO
Reported 27 days ago
The Bank of Japan (BOJ) plans to slow its withdrawal from the bond market, starting next year, to maintain market stability while keeping interest rates steady at 0.5%. The BOJ will reduce monthly bond purchases from ¥400 billion to ¥200 billion quarterly. This decision aims to mitigate concerns about volatility in the bond market, with officials indicating that the central bank remains committed to gradual normalization despite economic uncertainties. Analysts expect this strategic shift to help stabilize the market while continuing to monitor inflation and global economic pressures.
Source: YAHOO
Reported 27 days ago
During his early exit from the G-7 summit in Canada, President Trump stated that his reasons were 'much bigger' than attempting to facilitate a ceasefire between Israel and Iran. He emphasized seeking 'a real end' to the conflict rather than a temporary truce. While Trump has not clearly defined his next steps, he criticized Iran for not accepting previous deals and warned Tehran residents to evacuate amid ongoing Israeli attacks. He expressed a potential willingness to engage in talks but indicated he has not initiated any communication with Iran since returning to the US.
Source: YAHOO
Reported 27 days ago
Nvidia, the leading U.S. chip manufacturer, is set to attend the China International Supply Chain Expo in Beijing from July 16 to 20 for the first time, according to CCTV. The expo will host over 230 international participants and offers a platform for companies to showcase their commitment to the Chinese market despite ongoing trade tensions and strict U.S. export controls affecting advanced chip sales to China.
Source: YAHOO
Reported 27 days ago
The Senate's draft tax bill proposes to raise the investment tax credit for semiconductor manufacturers from 25% to 30%, encouraging companies to invest in new facilities ahead of a 2026 deadline. This initiative aligns with the 2022 Chips and Science Act, which aims to boost the U.S. semiconductor industry through significant financial incentives. Despite previous calls from Trump to repeal the Chips Act, lawmakers across parties favor maintaining these subsidies to support job creation in a critical sector.
Source: YAHOO
Reported 28 days ago
President Donald Trump is set to leave the G-7 summit in Canada a day early due to rising tensions in Iran as Israel continues its military operations against the country. Following an evacuation warning for Tehran, markets reacted with a drop in S&P 500 futures and a rise in oil prices. While seeking a peace deal, Trump's hasty departure raises speculation about increased U.S. support for Israel. Israeli forces have carried out significant attacks, and Iran has indicated readiness to respond, escalating fears of a broader conflict in the Middle East.
Source: YAHOO
Reported 28 days ago
Eli Lilly is set to acquire Verve Therapeutics, a gene-editing biotech, for up to $1.3 billion to enhance its portfolio in cardiovascular therapies. The deal reflects Lilly's strategy to expand beyond its dominant weight-loss and diabetes medications, with plans to develop a one-time gene-editing treatment to lower cholesterol in heart disease patients. The agreement includes an upfront payment and additional funds contingent on clinical milestones, as both firms push forward in an evolving market.
Source: YAHOO
Reported 28 days ago
Senate Republicans have introduced a revised tax cuts and debt ceiling bill that aims to provide significant tax reductions for households and businesses, while also proposing cuts to Medicaid and clean energy tax credits. The legislation preserves previous tax cuts from President Trump's first term and includes new tax breaks; however, it faces criticism and division among Republicans regarding the extent of Medicaid cuts. With a deadline approaching for approval, the Senate plans to vote on the bill next week, seeking to align with the House's measures while addressing contentious issues like state and local tax deductions.
Source: YAHOO
Reported 28 days ago
Investors should focus on several key reports on June 17, including US retail sales data for May, which is expected to show a 0.6% decline, indicating reduced consumer spending amid economic uncertainties. Additionally, the June homebuilder confidence index will be released, anticipated to rise slightly but still reflect overall pessimism in the housing market. La-Z-Boy is also set to announce its fourth-quarter earnings, with analysts projecting a revenue of $558 million and adjusted earnings per share of 93 cents, amidst declining annual revenue.
Source: YAHOO
Reported 28 days ago
Bentley is currently facing uncertainty regarding tariffs as the European Union considers a potential 10% tariff, while the lack of finalized trade agreements between the US and UK forces it to hold back inventory and navigate pricing month-to-month. With no clear deal in sight, Bentley's pricing strategy remains flexible and contingent on future tariff outcomes, complicating their operations and affecting custom orders.
Source: YAHOO
Reported 28 days ago
Source: YAHOO
Reported 28 days ago
Advanced Micro Devices (AMD) sees its stock price increase after analysts raised their target to $140, driven by positive GPU market outlook. In contrast, Sarepta Therapeutics (SRPT) suffers a significant decline following the death of a second patient in its gene therapy trial. Meanwhile, EchoStar's stock surges as President Trump calls for a resolution in a dispute with the FCC over wireless spectrum licenses, with the company facing potential bankruptcy if the issue isn't resolved.
Source: YAHOO
Reported 28 days ago
A prolonged conflict between Israel and Iran could lead to earlier interest rate cuts by the Federal Reserve, according to Wall Street analysts. They suggest that sustained oil price increases due to the conflict might harm economic growth and the labor market more than inflation itself, prompting the Fed to consider a dovish stance. Recent fluctuations in oil prices reflect ongoing tensions, and while forecasts indicate possible rate cuts by December, analysts warn that persistent high oil prices could delay these cuts until early 2026.
Source: YAHOO
Reported 28 days ago
XRP is experiencing a surge in price, increasing by 7.4% amid a broader positive trend in the crypto market. This rise is attributed to favorable developments in Ripple's legal battle with the SEC, particularly news of a potential settlement that will significantly reduce the fine Ripple owes. With improved regulatory prospects and the possibility of expanding its business, XRP is poised for future growth, although it remains a volatile investment.
Source: YAHOO
Reported 28 days ago
In a recent episode of Financial Freestyle, host Ross Mac interviews Caleb Silver, editor-in-chief of Investopedia, to discuss the current mood of investors amid market volatility. They explore results from the latest Investor Sentiment Survey, revealing popular stocks, investor concerns, and the impact of government policies on market expectations. The conversation emphasizes the importance of continuous learning in investing and the shifting dynamics among different investor age groups in today's financial landscape.
Source: YAHOO
Reported 28 days ago
A significant number of U.S. caregivers are concerned about the financial impact of their role on their retirement, as highlighted by a study from Edward Jones. Caregivers often reduce work hours or step out of full-time jobs, leading to increased financial insecurity and emotional stress. Financial advisors are crucial for developing comprehensive plans, while employers and government legislation can provide additional support for caregivers. The overall conversation underscores the need for community support and resources to help those who care for others.
Source: YAHOO
Reported 28 days ago
Source: INVESTORS
Reported 28 days ago
At 51 years old and recently divorced, an individual finds themselves $180,000 in debt, raising the question of whether to declare bankruptcy. With average U.S. household debt exceeding $100,000, various debt relief options exist, including Chapter 13 bankruptcy, which allows for structured repayment, but comes with long-term credit implications. Before making a decision, consulting a financial advisor and exploring alternatives like debt management plans or negotiating with creditors can be prudent.
Source: YAHOO
Reported 28 days ago
MGM Resorts International's stock rose over 6% during intraday trading after the company and its partner Entain raised their revenue outlook for BetMGM, forecasting at least $2.6 billion for fiscal 2025. The positive performance of BetMGM, particularly in online sports and iGaming, has propelled trading momentum, benefiting not only MGM but also rival gaming companies like Wynn Resorts and Las Vegas Sands.
Source: YAHOO
Reported 28 days ago
A judge in Mali has ordered Barrick Gold, a Canadian gold mining company, to be placed under provisional administration for six months due to an ongoing tax dispute with the military government. The judge appointed Zoumana Makadji as the provisional administrator, as the company faces allegations of unpaid taxes and operational control has been transferred to an external administrator. Barrick Gold, which has been operating in Mali for thirty years, continues to seek a resolution through arbitration while expressing concerns about the detention of its employees amid the conflict.
Source: YAHOO
Reported 28 days ago
US stock markets showed a rebound on Monday, with the Dow Jones rising over 300 points, as concerns over the Israel-Iran conflict began to ease. Reports of Iran's willingness to resume nuclear talks contributed to investor optimism, leading to a nearly 1% rise in the S&P 500 and a 1.5% increase in the Nasdaq. Meanwhile, oil prices dropped as fears of significant supply disruptions diminished.
Source: YAHOO
Reported 28 days ago
Strategist Jay Pelosky warns that the US economy is regressing due to unpredictable government policies, leading to increased tariffs and fostering a competitive disadvantage compared to Europe and China, both of which are advancing their economic strategies while the US risks isolation.
Source: YAHOO
Reported 28 days ago
Carter Johnson, head of currency sales at US Bancorp, reports that many exporters are increasingly opting to be paid in currencies such as euros, Chinese renminbi, and Canadian dollars instead of US dollars. This shift, driven by concerns over dollar volatility and favorable terms from suppliers, indicates a growing trend among international vendors to favor local currencies for transactions.
Source: YAHOO
Reported 28 days ago
Hinge Health's stock has experienced a rise following analyst support after its IPO in May, with shares trading at approximately $36, above the initial public offering price of $32. Although the stock opened at $39.25 on its first day, it has fluctuated since then, prompting ratings of 'overweight' from Morgan Stanley and 'buy' from Bank of America, who predicts a significant market potential for the digital physical therapy company.
Source: YAHOO