Reported 4 days ago
A U.S. bankruptcy judge has rejected Johnson & Johnson's proposal to settle lawsuits claiming their baby powder and talc products cause ovarian cancer. This marks the third unsuccessful bankruptcy attempt by J&J to resolve over 60,000 claims against them. The judge determined that J&J does not qualify for bankruptcy, stating the decision is justified despite its difficulty.
Source: YAHOO
Reported 4 days ago
Two Michigan business organizations have urged President Trump to reconsider proposed 25% tariffs on imported vehicles and parts, arguing that it would lead to increased prices, supply chain issues, and significant hardship for the state's auto-dependent workforce. They highlight that the tariffs could disrupt the automotive industry's profitability and disproportionately affect working-class families, while the White House maintains that ongoing investments by automakers could mitigate the impact.
Source: YAHOO
Reported 4 days ago
OpenAI has announced its intention to raise $40 billion in a funding round led by SoftBank Group, aiming to boost AI research and expand its infrastructure at a valuation of $300 billion. The funding will support the company’s ambitious plans, including the establishment of a network of AI-focused data centers under the Stargate project in collaboration with SoftBank and Oracle. OpenAI also intends to transition to a for-profit model to secure this investment, which would significantly raise its standing among valuable private companies.
Source: YAHOO
Reported 4 days ago
The Tennessee Valley Authority (TVA), the largest public utility in the U.S., has appointed Don Moul as its new CEO, replacing retiring Jeff Lyash. Moul, who has been with the TVA since June 2021, will assume his role on April 9. This decision comes after political pressure and changes in the TVA board amid growing calls for increased nuclear energy investment, despite concerns about the research and safety of such technologies.
Source: YAHOO
Reported 4 days ago
In his inaugural address, new Intel CEO Lip-Bu Tan emphasized the importance of direct customer feedback, urging them to be 'brutally honest.' He aims to streamline operations by reducing middle management and empowering engineers to foster innovation. Tan's primary focus will be on attracting top talent back to Intel, which has lost market share to competitors like Nvidia.
Source: YAHOO
Reported 4 days ago
Analysts at Cantor Fitzgerald have called for the dismissal of Health and Human Services Secretary Robert F. Kennedy Jr. They criticize his position on vaccines and express concern over his potential impact on public health leadership, following recent high-profile resignations in federal health agencies. The analysts emphasize the importance of scientifically-backed vaccine safety and hope for a correction in the administration's approach towards public health.
Source: YAHOO
Reported 4 days ago
Christopher Ruddy, founder and CEO of Newsmax, has amassed a fortune of approximately $3.3 billion following the company's public debut, where shares soared 735%. The conservative news network's IPO raised $75 million, with shares closing at $83.51. Ruddy maintains control over 81% of voting power through his class A shares, despite the company reporting a loss of $72 million last year on $171 million in revenue.
Source: YAHOO
Reported 4 days ago
President Donald Trump signed an executive order aimed at reducing ticket scalping and fees associated with attending live events. The order directs the Federal Trade Commission and the Department of Justice to enforce competition laws in the entertainment industry and ensure price transparency in the ticket purchasing process. Artists and fans, represented by singer Kid Rock during the announcement, are concerned about bots buying tickets and reselling them at inflated prices, often depriving the original creators of revenue.
Source: YAHOO
Reported 4 days ago
President Donald Trump has signed an executive order to create a new office, the United States Investment Accelerator, within the Commerce Department to manage the CHIPS and Science Act. This initiative aims to boost corporate investments in semiconductor manufacturing by negotiating better deals and reducing regulatory burdens, despite Trump's prior criticisms of the bipartisan CHIPS Act.
Source: YAHOO
Reported 4 days ago
Wells Fargo's currency strategists foresee the US dollar benefiting from President Trump's trade war, despite its current decline due to market uncertainties. They project a potential rise of 1.5% to 11%, based on the level of tariffs imposed and global responses. The expectation is that increased tariffs will suppress foreign demand and currencies, while inflation pressures may lead to sustained higher interest rates from the Federal Reserve.
Source: YAHOO
Reported 4 days ago
An analysis reveals that out of 107 S&P 500 companies providing first-quarter earnings guidance, 68 have issued negative outlooks, surpassing historical averages. This trend raises concerns for investors as Goldman Sachs increases recession odds due to declining corporate confidence and economic growth. The benchmark S&P 500 closed higher on Monday but has seen a nearly 6% decline in March, marking its worst monthly performance since 2022.
Source: YAHOO
Reported 4 days ago
Freeport-McMoRan has revised its first-quarter gold sales forecast downward by approximately 100,000 ounces, due to shipment delays in Indonesia affecting production. The company faced challenges after a fire damaged its smelter but has resumed concentrate exports following recent regulatory approvals. Copper prices, however, are expected to rise to around $4.40 per pound, up from $3.94 a year prior, with quarterly results scheduled for release on April 25.
Source: YAHOO
Reported 4 days ago
Wall Street showed resilience on Monday, shaking off initial fears related to impending tariff announcements from President Trump, with the S&P 500 closing up 0.55%. The market experienced a turbulent session influenced by global uncertainty, but ultimately managed to recover as investors adjusted portfolios during the month-end and quarter-end period. Concerns about a potential recession have also been raised, amid lower economic growth forecasts.
Source: YAHOO
Reported 4 days ago
United Microelectronics' stock surged nearly 9% following reports of a possible merger with U.S. chipmaker GlobalFoundries. The merger aims to create a company with production capabilities across the U.S., Asia, and Europe, seeking to secure American access to semiconductors amid growing tensions between Taiwan and China.
Source: YAHOO
Reported 4 days ago
The benchmark diesel price has risen for the second consecutive week, reaching $2.592 per gallon amid a tightening futures market. This increase follows a period of fluctuating prices and suggests a potential bottom has been reached. Futures prices for crude oil also saw significant increases, influenced by geopolitical tensions and declining U.S. crude production, with the EIA reporting the lowest production in 11 months.
Source: YAHOO
Reported 4 days ago
As President Trump's new tariffs loom, small business owners express anxiety about their growth plans. Insights from Elizabeth Gore, co-founder of Hello Alice, reveal a prevailing sense of unease among entrepreneurs, particularly in sectors like agriculture and food services, as they grapple with potential cost impacts and the availability of essential resources.
Source: YAHOO
Reported 4 days ago
Coinbase shares have declined for four consecutive sessions, concluding a volatile month with a 20% drop in value. The stock is currently within a descending broadening formation, with the potential for a 'death cross' to emerge as the 50-day moving average approaches the 200-day average. Investors should observe key support levels around $146 and $115, and resistance levels near $206 and $264, as trading interest wanes amid a significant drop in bitcoin’s price and trading volumes.
Source: YAHOO
Reported 4 days ago
In the first quarter of 2025, Tesla's stock was among the worst performers in the S&P 500, losing over a third of its value due to declining sales, particularly in the European Union and China, coupled with backlash over Elon Musk's political involvement. The stock saw a nine-week decline, despite some analysts maintaining a bullish outlook, giving it a 'buy' rating.
Source: YAHOO
Reported 4 days ago
As global markets grapple with uncertainty due to President Trump's protectionist trade policies, gold prices have surged to new record highs, reaching $3,122.80 per ounce. Investors are flocking to gold as a safe haven amid fears of an escalating trade war and potential inflation. The demand for gold from central banks and geopolitical tensions are further contributing to the rise. While gold is often viewed as a stable investment, experts advise caution regarding its volatility and recommend diversifying investment strategies.
Source: YAHOO
Reported 4 days ago
The Social Security Administration is investigating a recent outage affecting its MySSA portal, which allows users to manage benefits online. This downtime, which impacted user access but not the site itself, is part of a trend of increased outages as the agency pushes for more online services and efficiency, while also combating fraud. Despite these issues, reports indicate that significant fraud is not prevalent in the system.
Source: YAHOO
Reported 4 days ago
Moody's recently issued warnings about the increasing U.S. debt, suggesting that the nation's triple-A credit rating could be at risk due to soaring deficits and rising interest rates. The agency highlighted that the financial advantages of the dollar are potentially diminishing as debt affordability declines. Projections indicate that public debt could reach alarming levels, leading to serious economic implications if current fiscal policies are not corrected.
Source: YAHOO
Reported 4 days ago
Deutsche Bank has upgraded Goodyear Tire & Rubber Co. to a buy rating, citing that the company is poised to benefit from President Trump's tariffs on car imports because most of its U.S. demand is from domestic manufacturers and tires are not currently included in the tariffs. Analyst Edison Yu believes that any slump in new vehicle sales will be offset by higher sales of replacement tires, and he maintains a $13 price target for the stock, which represents significant upside potential.
Source: YAHOO
Reported 4 days ago
International Monetary Fund (IMF) Managing Director Kristalina Georgieva stated that despite the uncertainties and decreased confidence caused by U.S. tariffs under President Trump, a recession is not anticipated in the near future. While the IMF may slightly lower its economic growth estimates, it remains optimistic about the global economy's resilience. Georgieva emphasized the importance of clarity in tariff policies to prevent further negative impacts on growth.
Source: YAHOO
Reported 4 days ago
Security firm ReliaQuest announced it has raised over $500 million in a funding round led by EQT, KKR, and FTV Capital, bringing its valuation to $3.4 billion. Founded in 2007, ReliaQuest offers an AI-powered security operations platform called GreyMatter, which helps security teams identify threats at their source.
Source: YAHOO
Reported 4 days ago
国际货币基金组织（IMF）和世界银行正在努力应对特朗普总统可能导致的美国与这些机构的关系紧张。两大国际金融机构正向特朗普政府阐明它们在促进美国利益方面的价值，特别是在全球金融稳定和发展领域。尽管面临美国可能退出这两家机构的风险，IMF和世界银行的领导者仍在与财长疏通关系，以确保这些机构的存在对美国经济的益处。
Source: YAHOO