Reported 17 days ago
Most Gulf Cooperation Council central banks lowered key interest rates following the Federal Reserve's recent 25 basis point cut. This move is expected to stimulate growth in credit-sensitive sectors, like real estate, while the region's economies aim to diversify revenue and maintain low inflation. Saudi Arabia and the UAE led the changes, with Qatar opting for a deeper cut of 30 basis points.
Source: YAHOO
Reported 17 days ago
Federal Reserve Chair Jerome Powell confirmed he would not resign if re-elected Donald Trump requested it, following the Fed's decision to cut interest rates by a quarter percentage point. Powell emphasized that the presidential election would not influence the Fed's policy decisions and stated that the economy remains strong despite risks. Recent data showed growth in consumer spending but also a slight cooling in the labor market. The Fed aims for a careful approach to future rate adjustments while monitoring inflation trends.
Source: YAHOO
Reported 17 days ago
Amazon workers in Alabama will have a third chance to vote on unionization after a federal judge found the company improperly influenced the previous vote, where the workers rejected the union. The judge identified multiple violations by Amazon, including surveillance of union activities and threats to employees. The National Labor Relations Board found similar interference in earlier votes, leading to this latest court ruling. Both Amazon and the union plan to appeal the decision.
Source: YAHOO
Reported 17 days ago
The Federal Reserve has reduced interest rates by 25 basis points in response to disinflationary trends, although experts warn that inflation risks persist. Analysts, including EY's Gregory Daco and John Hancock's Emily Roland, highlight the fragility in the economy and labor market while pointing out that consumer price sensitivity and rising productivity are contributing to ongoing disinflation. The Fed remains cautious as it navigates the aftermath of the 2024 elections and fluctuating bond yields.
Source: YAHOO
Reported 17 days ago
The Federal Reserve has cut interest rates by 25 basis points, marking its second consecutive reduction since September, following Donald Trump's election. The new rate range is now 4.5%-4.75%, intended to support the central bank’s goals of price stability and employment. Despite mixed economic signals, with inflation readings and job growth showing uncertainty, the decision was widely anticipated. Fed Chair Jerome Powell emphasized that the changes in the Fed's language do not indicate a pause in rate cuts, while also sidestepping questions about potential economic impacts from Trump's administration.
Source: YAHOO
Reported 17 days ago
The Federal Reserve has cut interest rates by 25 basis points, reducing the benchmark rate to a range of 4.5%-4.75% to support its dual mandate of stable prices and maximum employment. Despite mixed economic indicators, including persistent inflation and a weakening job market, the decision came as a widely anticipated move in light of economic conditions. Fed Chair Jerome Powell addressed the potential implications of Donald Trump's presidency on future monetary policy, stating that the Fed's focus remains on data-driven decisions.
Source: YAHOO
Reported 17 days ago
Futures for the federal funds rate indicate that the Federal Reserve is likely to implement a 25-basis-point rate cut in December, following a recent reduction. Projections suggest an additional 67 basis points of cuts for 2025, reflecting ongoing optimism about economic growth and inflation moving towards the Fed's target. There is a 72% probability for another rate cut next month, signaling attempts to boost consumer activity in the credit market.
Source: YAHOO
Reported 17 days ago
The Federal Reserve has lowered interest rates by 25 basis points, bringing the benchmark rate to between 4.50% and 4.75%. Esther George, former President of the Federal Reserve Bank of Kansas City, discusses the Fed's decision and notes that while another rate cut is expected in December, the future is unpredictable due to economic uncertainties. She highlights that the Fed is still striving to meet its goals as inflation remains above target.
Source: YAHOO
Reported 17 days ago
RXO forecasts greater savings from its recent acquisition of Coyote Logistics, raising its cost synergies projection from $25 million to $40 million. Despite a disappointing performance in its latest earnings report, management is optimistic about the integration of Coyote, highlighting improvements in productivity and cross-selling opportunities. CEO Drew Wilkerson emphasized that initial integration is ahead of schedule, setting the stage for further efficiency gains in the coming year.
Source: YAHOO
Reported 17 days ago
The Australian Communications and Media Authority (ACMA) has fined Optus A$12 million ($8 million) for failing to ensure emergency call services during a nationwide outage last November, which left many without phone or internet access. The regulator found that over 2,100 customers couldn't reach emergency services, and Optus neglected to follow up with many of them post-outage. This penalty follows recent legal troubles for the telecom company, which has been struggling since a major cyber attack in 2022.
Source: YAHOO
Reported 17 days ago
Dine Brands announced plans to open the first-ever dual-brand Applebee's-IHOP restaurant near San Antonio, Texas, in early 2025 in response to declining revenues from both chains. This innovative restaurant aims to provide customers with the flexibility of breakfast or dinner at any time, while helping to reduce operational costs and improve profitability. The concept has already seen success abroad, with over a dozen locations operating internationally.
Source: YAHOO
Reported 17 days ago
EFW has partnered with MRO Japan to expand the production of A321 freighter conversions, enabling Japan Airlines to operate modified aircraft for cargo transport. MRO Japan, located in Okinawa, will receive its first A321 for conversion by the end of 2025, enhancing EFW's ability to tap into Japan's growing air cargo market, projected to grow at a rate of 4.2% annually. This collaboration comes as Japan Airlines and Yamato Transport start utilizing A321 freighters for logistics and parcel delivery across the country.
Source: YAHOO
Reported 17 days ago
Paramount Global will announce its third quarter earnings before the market opens on Friday, as it prepares for its merger with Skydance Media, anticipated to finalize in the first half of 2025. The company expects a direct-to-consumer loss of $161.5 million for Q3, down from $238 million a year ago, but a shift from a profit of $26 million in Q2. Despite challenges, including a substantial write-down on its cable business and workforce layoffs, theater and streaming revenue is under review, with analysts projecting subscriber growth due to the NFL and college football's return.
Source: YAHOO
Reported 17 days ago
The Federal Reserve's decision to cut interest rates by 25 basis points has led to a significant uptick in stock markets, with the S&P 500 and Nasdaq Composite reaching new heights. Key players like Qualcomm, Arm Holdings, and Lyft saw notable stock movements, particularly Lyft, which surged over 22% due to a positive outlook on gross bookings. Qualcomm and Arm Holdings also reported better-than-expected earnings, further boosting investor sentiment.
Source: YAHOO
Reported 17 days ago
Judy Love, co-founder of Love’s Travel Stops, has passed away at the age of 87 in Oklahoma City. Alongside her husband Tom, she built the company from a single location in 1964 into a thriving network of over 640 travel stops across 42 states. Beyond her business success, Love was a dedicated philanthropist, actively supporting numerous charitable causes, including education and healthcare. Remembered for her strong leadership and incredible generosity, Judy Love's legacy will live on through her family and the many lives she impacted.
Source: YAHOO
Reported 17 days ago
Donald Trump's reelection has led to significant market gains, particularly in the financial and utilities sectors, sparking what some are calling a 'Trump Everything Rally'. This shift reflects investor optimism about potential deregulation and pro-industry policies, though concerns remain regarding clean energy. Analysts suggest that while certain sectors may thrive, the broader implications could introduce 'new uncertainty' in the markets.
Source: YAHOO
Reported 17 days ago
Federal Reserve Chairman Jerome Powell stated that the recent election results will not affect the Fed's policy decisions in the near term, emphasizing that the central bank does not speculate on future government policies. This statement came after a Fed meeting where a rate cut was announced, despite former President Donald Trump's return to office, which could influence inflation and deficits.
Source: YAHOO
Reported 17 days ago
General Motors announced it will cease production of the Cadillac XT4 SUV in January to reallocate its Kansas plant for electric vehicle manufacturing, specifically the Chevrolet Bolt EV, following a $390 million investment. Additionally, GM plans to discontinue production of the Chevrolet Malibu soon.
Source: YAHOO
Reported 17 days ago
The Federal Reserve has reduced its benchmark interest rate by 25 basis points to a range of 4.5-4.75%, citing eased labor market conditions and a slight rise in unemployment, though still low. Inflation is making progress towards the 2% target but remains elevated, with the Committee finding risks to employment and inflation goals to be balanced.
Source: YAHOO
Reported 17 days ago
According to the World Gold Council (WGC), global gold exchange-traded funds (ETFs) recorded their first positive year-to-date inflows this October, marking six consecutive months of inflows driven by North American and Asian investments. Rising geopolitical tensions and market uncertainties have led investors to seek safety in gold ETFs, attracting $4.3 billion in October alone, which has increased total gold holdings to a record 3,244 tons. This reversal comes after three years of outflows, as gold prices have surged 33% this year, highlighted by a record high of $2,790.15 per ounce at the end of October.
Source: YAHOO
Reported 17 days ago
As the 2025 health insurance open enrollment period begins, consumers are encouraged to consider Health Savings Accounts (HSAs). These accounts allow individuals to save tax-free money for qualified healthcare expenses, offering substantial benefits alongside traditional insurance plans. The article provides an overview of HSAs, explaining their functionality and advantages.
Source: YAHOO
Reported 17 days ago
Lyft's stock surged by 30% after the company reported a record 217 million rides for Q3 2024, exceeding expectations and reflecting a successful turnaround strategy. The rideshare firm also posted adjusted earnings of $0.29 per share and quarterly revenue of $1.5 billion, beating Wall Street estimates. Despite facing challenges competing with Uber, Lyft plans to expand its services by leveraging partnerships in food delivery and autonomous vehicles.
Source: YAHOO
Reported 17 days ago
US stocks gained momentum after the Federal Reserve cut interest rates by 25 basis points, with the tech-heavy Nasdaq rising over 1.3%. Investors reacted positively to the rate cut and Donald Trump's victory in the presidential election, leading to record highs for major tech companies like Nvidia and Amazon. The Fed's future policy direction remains closely watched amid signs of economic stability.
Source: YAHOO
Reported 17 days ago
Swiss Finance Minister Karin Keller-Sutter met with UK counterpart Rachel Reeves to discuss future banking regulations in light of Donald Trump's election victory. They acknowledged the potential for increased deregulation in the US and stressed the importance of balancing competitiveness with stability. Keller-Sutter is also managing tightening banking regulations in Switzerland following the Credit Suisse collapse.
Source: YAHOO
Reported 17 days ago
Federal health officials are calling for expanded bird flu testing among farmworkers after a study revealed that some dairy workers had antibodies for the H5N1 virus despite not feeling ill. The study found that 7% of tested workers in Michigan and Colorado showed previous infection, prompting concerns about the virus's spread and the need for preemptive testing. Experts highlight the risks of ongoing transmission and emphasize the significance of this new directive from the CDC to protect both workers and public health.
Source: YAHOO