Reported 23 days ago
Harvard University recently announced that starting in the fall of 2025, students from families earning $200,000 or less will have their tuition covered, while those earning $100,000 or less will also receive assistance for food, housing, and other costs. This change means approximately 86% of U.S. families now qualify for financial aid. The new policy aims to alleviate financial burdens on students, but families should still prepare for additional living expenses and consider educational savings plans.
Source: YAHOO
Reported 23 days ago
Shops in San Francisco's Chinatown are battling to survive as U.S. tariffs on Chinese imports reach 20%, forcing owners to choose between raising prices and losing customers. With small profit margins and an elderly clientele, business owners are feeling the pressure from increased costs and supply chain disruptions. As they attempt to navigate these challenges, customers are encouraged to support local businesses and adjust their purchasing habits to offset rising prices.
Source: YAHOO
Reported 23 days ago
Chinese state media has criticized CK Hutchison's plan to sell its ports near the Panama Canal to a BlackRock-led group, labeling the move as harmful to China's national interests. The controversial post was quickly deleted, indicating rising opposition within China regarding the deal, which the market regulator is set to review.
Source: YAHOO
Reported 23 days ago
Recent consumer sentiment data indicates a significant decline in confidence, particularly influenced by uncertainties surrounding President Trump's tariff policy. While high-income earners are currently maintaining spending levels, continued pressure on stock prices could push these consumers into austerity mode, potentially tipping the economy into a recession. The outlook remains uncertain, with rising savings rates posing a risk to economic growth, as analysts closely monitor consumer behavior and the effects of market fluctuations.
Source: YAHOO
Reported 23 days ago
Shawn Fain, the leader of the United Auto Workers, has transitioned from being a vocal critic of Trump to supporting his recent tariff proposals on auto imports. Despite their past disagreements, Fain praised the administration's efforts to counteract free trade policies he believes have harmed American workers. While Fain sees tariffs as a chance to regain manufacturing jobs, concerns loom over potential price increases and job losses due to disrupted supply chains in the auto industry.
Source: YAHOO
Reported 23 days ago
UniCredit, Italy's second-largest bank, has obtained approval from the European Central Bank for its €14 billion all-share bid to acquire Banco BPM. This move follows a surge of profit in Italian banking after the 2008-2012 crisis, and while UniCredit will soon finalize funding for its bid, it plans to delay the tender launch. CEO Andrea Orcel emphasized that shareholder returns will not be compromised in pursuing the acquisition, amidst ongoing scrutiny related to BPM's recent Anima Holding acquisition.
Source: YAHOO
Reported 23 days ago
In February, US consumer spending fell short of expectations while inflation metrics increased, raising concerns ahead of President Trump's planned tariff rollout on April 2. The core personal consumption expenditures price index rose 2.8% year-on-year, exceeding the Federal Reserve's target. With existing tariffs on Canada and potential new ones looming, analysts warn of possible recession and sustained inflation impacts on consumer spending.
Source: YAHOO
Reported 23 days ago
Beef tallow, a solid form of beef fat, is gaining popularity in restaurants, with estimates that it may appear on 8% of menus in four years. Advocates praise its flavor and potential health benefits, contrasting it with seed oils, while others suggest it may still carry health risks. Prominent restaurants like Steak 'n Shake are shifting away from seed oils to tallow for cooking. Despite this trend, tallow constitutes a small portion of fats used for human consumption, though demand is increasing among consumers and food distributors.
Source: YAHOO
Reported 23 days ago
Tesla's vehicles, acclaimed as the most American-made cars according to the Cars.com American-Made Index, might be less affected by the new auto tariffs set to take effect, particularly compared to competitors like GM. While Tesla's manufacturing takes place fully in the U.S., some components are sourced from abroad, leading to an estimated $1.6 billion potential impact on its finances. Despite benefiting from increased EV competition due to these tariffs, challenges persist with falling sales in Europe and China.
Source: YAHOO
Reported 24 days ago
As Berlin transitions from a struggling capital to a booming economic hub, the city's rising costs and gentrification are displacing its artistic and bohemian communities. Once known for its 'poor but sexy' allure, many long-time residents express concern that the city is losing its unique character as high rents squeeze out artists and cultural events, while newcomers are attracted to its vibrant startup scene and cultural offerings.
Source: YAHOO
Reported 24 days ago
The Trump administration has ordered Global Oil Terminals, headed by GOP donor Harry Sargeant III, to withdraw from Venezuela as part of a renewed effort to isolate President Nicolás Maduro. This follows the revocation of licenses for both Global Oil and Chevron, another U.S. oil company. The move reflects a shift in U.S. policy, reintroducing strict sanctions after a brief period of engagement during the Biden administration. Sargeant has been known for his attempts to improve U.S.-Venezuela relations, but the current administration is focusing on tightening pressure on Maduro amidst ongoing political and economic instability in Venezuela.
Source: YAHOO
Reported 24 days ago
Kalshi has filed a lawsuit against Nevada's gaming regulators to maintain its ability to offer event contracts for betting on sports and politics, arguing that as a federally regulated derivatives exchange, the US Commodity Futures Trading Commission should have the final say over what bets it can offer. The lawsuit comes after Nevada officials claimed that Kalshi's contracts breach state gaming regulations, which require licensing and taxation.
Source: YAHOO
Reported 24 days ago
President Donald Trump commuted the sentence of Carlos Watson, co-founder of Ozy Media, just before he was due to begin a nearly 10-year prison term for a financial conspiracy. Watson, who was convicted of deceiving investors and inflating revenue figures, expressed gratitude to Trump and criticized the judge for bias. Trump's clemency actions included pardoning several individuals in similar cases, asserting a commitment to fairness for those he believes were wrongfully treated by the justice system.
Source: YAHOO
Reported 24 days ago
As Indonesia approaches the Eid al-Fitr holiday, economic uncertainty prevails, affecting consumer spending and market sentiment. The Jakarta Composite Index has seen significant declines, and many Indonesians are expected to travel less this year due to reduced confidence and financial constraints. Despite some positive news from the stock market, consumer spending is down, with many switching to cheaper products as purchasing power erodes.
Source: YAHOO
Reported 24 days ago
President Trump announced that he is willing to negotiate tariff deals with countries looking to avoid U.S. tariffs, but these discussions will take place after his administration imposes reciprocal tariffs on April 2. He indicated that countries, including Britain, have shown interest in making deals and mentioned upcoming tariffs aimed at the pharmaceutical industry, without revealing specifics.
Source: YAHOO
Reported 24 days ago
Elon Musk's xAI startup has acquired the X platform, previously known as Twitter, for $33 billion, elevating xAI's total valuation to $80 billion and creating a combined entity valued over $100 billion. The all-stock deal streamlines Musk's businesses, integrating xAI's AI technology with X's extensive user data to enhance capabilities and stabilize the platform's uncertain advertising revenue. The merger signals potential new trends in social media and AI partnerships.
Source: YAHOO
Reported 24 days ago
Elon Musk has sold the social media platform X, previously known as Twitter, to his artificial intelligence firm xAI for $33 billion in an all-stock transaction. Musk announced that this move aims to merge xAI's advanced AI capabilities with X's extensive reach, potentially enhancing user experiences while maintaining the mission to seek truth and advance knowledge. Despite the significant change in ownership, it remains unclear how this will specifically affect X users, as xAI already utilizes data from X for its AI models.
Source: YAHOO
Reported 24 days ago
UBS's compliance chief, Markus Ronner, has stated that the bank has no plans to leave Switzerland, despite discussions about potentially onerous regulations. This comes after remarks from the head of the Swiss Bankers Association suggesting UBS might consider leaving if regulations become too strict. Ronner emphasized UBS's strong relationship with Switzerland and the bank's dedication to its home country, particularly in light of recent changes following its acquisition of Credit Suisse.
Source: YAHOO
Reported 24 days ago
The recent IPO of CoreWeave Inc., a cloud-computing company backed by Nvidia, fell short of its ambitious targets, raising only $1.5 billion instead of the expected $4 billion. The offering, which priced shares at $40 each, struggled amidst a weak market, leading to a diluted valuation of $23 billion—well below initial projections. This lackluster debut highlights ongoing challenges in the US IPO market, with investors remaining cautious in light of broader economic uncertainties.
Source: YAHOO
Reported 24 days ago
Elon Musk announced the sale of his social media platform X to his AI company xAI for $45 billion, which includes $12 billion in debt. Musk highlighted the merger as a way to combine the strengths of both companies, aiming for smarter and more meaningful user experiences. Despite X's valuation being lower than Musk's purchase price, it has started to recover, attracting back significant advertisers like Amazon and Apple. The acquisition could further Musk's ambitions in the AI sector and stabilize X amidst ongoing controversies.
Source: YAHOO
Reported 24 days ago
The upcoming auto tariffs set to take effect on April 3, 2025, are expected to drive up vehicle prices and reduce access to affordable options in the used car market. Jessica Caldwell from Edmunds highlights that manufacturers will likely pass some costs onto consumers, leading to increased prices across the board, further pushing potential buyers toward the used car market, which itself is experiencing inventory shortages. Consequently, consumers may either hesitate to purchase vehicles altogether or opt to repair their existing cars.
Source: YAHOO
Reported 24 days ago
Elon Musk's Department of Government Efficiency (DOGE) is reportedly seeking access to data from the U.S. Securities and Exchange Commission (SEC), following an executive order issued by President Trump in January 2025 that granted DOGE substantial authority for cost-cutting measures across federal agencies. Recent reports indicate that the DOGE team has been granted preliminary access to SEC systems, with plans for a liaison team to ensure compliance with ethical and security protocols. As DOGE explores its intentions for the SEC, the nomination of Paul Atkins as SEC Chairman is also progressing, with potential reforms in digital asset regulation on the horizon.
Source: YAHOO
Reported 24 days ago
The week of March 31, 2025, will see a significant focus on President Trump's anticipated tariff announcement on April 2, labeled 'Liberation Day.' Additionally, the March jobs report will be scrutinized amid concerns of an economic slowdown affecting employment. Meanwhile, earnings reports from companies like PVH, Guess, Conagra Brands, and BlackBerry are expected later in the week.
Source: YAHOO
Reported 24 days ago
AppLovin's stock is bouncing back after a significant 20% drop triggered by a short-selling report from Muddy Waters. In response, the company has hired a law firm to investigate these short-selling activities and its CEO has encouraged investors to scrutinize the claims, arguing that modern AI tools can quickly discredit such reports. Despite the turmoil, analysts remain largely optimistic about the stock.
Source: YAHOO
Reported 24 days ago
A recent report reveals that 82% of Americans have financial goals for 2025, such as saving more, paying off debt, and investing. Financial planner Derieck Hodges emphasizes the importance of setting measurable goals and remaining flexible with financial plans in light of life changes. Consistency in habits, like automating retirement contributions and managing credit card debt, is crucial to achieving these goals. Ultimately, aligning investment strategies with your financial timeline is key to success.
Source: YAHOO