Reported 17 days ago
The integration of artificial intelligence (AI) into bitcoin mining is reshaping investment strategies, as mining firms like Gryphon Digital Mining seek efficient power sources to expand into AI computing. Leaders in the sector, like Steve Gutterman, suggest that these companies should be viewed as tech enterprises rather than solely traditional mining firms, emphasizing the potential for mining operations to play a significant role in the AI industry.
Source: YAHOO
Reported 17 days ago
Despite recent price fluctuations causing anxiety among investors, cryptocurrency leaders are confident in Bitcoin's long-term potential. In a discussion led by Rob Nelson, David Gokhshtein and Dirk Lueth emphasized the continued strong demand for Bitcoin, comparing its current market sentiment to the early digital media era. They argued that with time and education, fears regarding market volatility will diminish, paving the way for further growth in the crypto space.
Source: YAHOO
Reported 17 days ago
Rivian is set to release its Q3 earnings, having faced production disruptions due to component shortages at its Illinois factory, causing a cut in its annual delivery forecast from 57,000 to between 47,000 and 49,000 vehicles. Analysts expect revenues to fall to approximately $980.26 million from $1.34 billion a year ago, with an adjusted loss per share of $1.11. Despite these challenges, Rivian maintains its annual delivery outlook while potentially affecting its profitability forecast for Q4.
Source: YAHOO
Reported 17 days ago
Dye & Durham Ltd. saw its shares drop approximately 18%, the largest decline in over a year, after Canada's Competition Bureau initiated a court-backed investigation into potential anti-competitive practices related to its conveyancing software for residential real estate. Despite the company's claims of cooperation and a competitive market, this investigation could hinder its ongoing review of potential acquisition offers, thereby impacting its market valuation and future dealings.
Source: YAHOO
Reported 17 days ago
In response to the rapid influx of meme coins, TradingView's General Manager, Pierce Crosby, discussed the platform's strategy of taking a cautious approach by waiting for exchanges to conduct listings before providing data. This method, while slower, aims to protect users from the volatility associated with new token launches, ensuring that TradingView can provide reliable information by collaborating with specialized partners like DEX Screener.
Source: YAHOO
Reported 17 days ago
According to CNN, President-elect Donald Trump is likely to allow Jerome Powell to continue serving as the chair of the Federal Reserve until the end of his term in May 2026, based on insights from a senior adviser. Although Trump has the option to reconsider, his current stance aligns with his economic team's recommendation for Powell's continued leadership.
Source: YAHOO
Reported 17 days ago
Mortgage rates have increased for the sixth consecutive week, now averaging 6.79% for a 30-year fixed mortgage, reflecting rising Treasury yields amid heightened confidence in former President Trump's election victory and potential inflationary policies. Housing activity has also cooled, with a 5% drop in purchase applications and a 19% decrease in refinancing, as experts anticipate rates to remain elevated above 6% in the coming year.
Source: YAHOO
Reported 17 days ago
New York City faces a tight deadline to implement its congestion pricing plan following Donald Trump's election, who opposes the initiative that aims to generate funds for the transit system. Governor Kathy Hochul had paused the plan just before its scheduled June launch, citing concerns about the financial burden on working families. With Trump's inauguration approaching, officials are under pressure to secure federal approvals and commence charging before he takes office, as his administration is likely to block or undo the program, which is essential for the Metropolitan Transportation Authority's infrastructure funding.
Source: YAHOO
Reported 17 days ago
In the wake of Donald Trump's election win, CEOs from major tech companies, including Amazon's Jeff Bezos, Microsoft's Satya Nadella, and Meta's Mark Zuckerberg, extended their congratulations and expressed eagerness to collaborate with his administration. The tech landscape has significantly evolved over the past four years, particularly with the rise of generative AI, and these leaders aim to navigate the potential challenges, including antitrust issues, in the upcoming term.
Source: YAHOO
Reported 17 days ago
Spain experienced catastrophic flooding following torrential rains, particularly impacting the Valencia region, leading to at least 219 fatalities and 93 individuals missing. The deluge caused an estimated 3.5 billion euros in damages, with 116,000 insurance claims filed. The emergency response involved over 17,000 troops and police, as well as numerous volunteers to aid in recovery efforts. The floods, exacerbated by prolonged drought and record temperatures, have triggered a significant cleanup, but much remains unknown about the total impact.
Source: YAHOO
Reported 17 days ago
A recent survey by the Small Business & Entrepreneurship Council reveals that 74% of small businesses view the current environment positively, but they're concerned about the impact of a new Trump administration starting in January. CEO Karen Kerrigan highlights inflation and economic uncertainty as primary concerns, calling for stable policies such as extending tax cuts. Despite fears of recession and labor shortages, Kerrigan remains optimistic about 2025, noting that many small businesses are turning to AI and technology to address their labor challenges.
Source: YAHOO
Reported 17 days ago
Gilead Sciences raised its 2024 revenue forecast following strong third-quarter results, indicating significant growth in its legacy HIV and COVID-19 drug sales. CEO Daniel O'Day highlighted the company’s resilience compared to larger pharma firms and projected 2024 sales between $27.8 to $28.1 billion. Gilead is preparing to file for a new HIV prevention drug, lenacapavir, by year's end, further fueling investor optimism.
Source: YAHOO
Reported 17 days ago
UK Chancellor Rachel Reeves received support from Bank of England Governor Andrew Bailey despite fears that her budget, which proposes £142 billion in extra borrowing and is predicted to raise inflation, could destabilize the economy. Over the past months, the BOE has cut rates twice, easing pressure on Reeves, who faces concerns about inflation and economic overheating. Bailey indicated that further rate cuts are likely, suggesting a more optimistic outlook on economic growth and household finances despite a substantial payroll tax increase.
Source: YAHOO
Reported 17 days ago
A rapidly spreading brush fire, known as the Mountain Fire, has consumed over 14,000 acres in Ventura County, California, forcing the evacuation of more than 10,000 residents. Governor Gavin Newsom declared the situation dangerous, and FEMA has provided assistance for firefighting efforts. High winds and dry conditions are compounding the risk, impacting communities near Malibu and leading to widespread power outages as utilities shut off services to prevent further fire hazards.
Source: YAHOO
Reported 17 days ago
Ally Financial is closely observing borrowers who purchased expensive vehicles in 2022 amid high used-car prices and rising inflation. CFO Russ Hutchinson noted that while these borrowers have jobs, many are struggling with high monthly payments and associated ownership costs. Despite tightening credit access to mitigate losses and seeing improvements among 2023 and 2024 borrowers, the lingering economic impact continues to challenge even higher-income consumers in affording new and used cars.
Source: YAHOO
Reported 17 days ago
Zero-knowledge proof (ZKP) has emerged as a critical security element in Web3 and blockchain technology by ensuring data integrity and privacy without revealing personal information. It enables verification of transactions and balances in a secure manner, supporting compliance with regulations while maintaining user confidentiality. Innovations like Holonym's Human Keys and Space and Time's multichain data processing enhance ZKP's capability, making it a foundational technology for complex financial instruments and improving trustless interactions across decentralized networks.
Source: YAHOO
Reported 17 days ago
In a time of uncertain job postings, coach Eliana Goldstein emphasizes the importance of proactive job searching over a reactive approach. She advises aspiring job seekers to establish connections with target companies and engage with them before positions are advertised. This strategy not only increases the chances of discovering unlisted job opportunities but also helps create referral pathways once jobs do become available.
Source: YAHOO
Reported 17 days ago
Trump Media & Technology Group's stock, DJT, dropped as much as 22% on Thursday, reversing gains made after Donald Trump's victory in the presidential election. This decline reflects the stock's volatile trading pattern, described as a 'buy the rumor, sell the fact' strategy, despite a recent 120% rise over the past month. The company's financial health remains questionable, with reported losses and declining revenue, as Trump continues to hold a significant stake in DJT.
Source: YAHOO
Reported 17 days ago
Expert Shehzad Qazi discusses with Yahoo Finance the current state of China's economy, revealing that while Chinese stocks are rising due to stimulus hopes and strong export data, the government is reserving its fiscal 'firepower' for potential tariffs from President-Elect Donald Trump. He warns that expectations for robust stimulus initiatives might be overly optimistic as China focuses on managing its existing debt, and outlines possible retaliatory strategies, including export controls and corporate blacklists, in response to aggressive tariff policies from the U.S.
Source: YAHOO
Reported 17 days ago
The Federal Reserve is anticipated to reduce interest rates by 25 basis points in its upcoming November meeting. This decision coincides with a hectic week following former President Donald Trump's electoral victory, as various companies including Airbnb and Rivian are set to announce their quarterly earnings. Major guests and financial experts will also share insights during the Yahoo Finance coverage.
Source: YAHOO
Reported 17 days ago
Despite a significant increase in mortgage rates, which have reached 7%, homebuilders maintain a hopeful outlook. Research suggests that homebuilders prefer a stable economic environment with slightly higher rates rather than a volatile market with very low rates. A recent survey indicated that homebuilders are not dependent on political outcomes for their business strategies.
Source: YAHOO
Reported 17 days ago
Mortgage rates have increased for the sixth consecutive week, with the average 30-year fixed rate rising to 6.79%, according to Freddie Mac. This trend comes as experts analyze the impact of a potential second Trump administration on the economy and housing market ahead of the Federal Reserve's interest rate decision.
Source: YAHOO
Reported 17 days ago
As the Federal Reserve considers rate cuts, Lee Baker from Claris Financial Advisors discusses the implications for debts and savings with host Brad Smith. Baker suggests that individuals with credit card debt may benefit from lower rates, while savers should consider locking in current interest rates through certificates of deposit (CDs), as high rates may soon decline.
Source: YAHOO
Reported 17 days ago
The article explains how the cost of living adjustment (COLA) for Social Security benefits is determined. It outlines that COLA is calculated based on the percentage increase in the Consumer Price Index for urban wage earners and clerical workers (CPI-W), as specified in the Social Security Act. The adjustment, if applicable, is rounded to the nearest tenth of a percent, and there was a 3.2% COLA implemented in 2024. The piece features insights from experts discussing various aspects of retirement planning.
Source: YAHOO
Reported 17 days ago
Following Donald Trump's election victory, Steven Madden executives announced plans to quickly reduce product sourcing from China to avoid potential tariffs exceeding 60%. They aim to shift around 40%-45% of their sourcing to countries like Cambodia, Vietnam, Mexico, and Brazil, in anticipation of tariffs that could impact nearly half of their business.
Source: YAHOO