Reported 27 days ago
Flight attendants at American Airlines have ratified a new five-year contract that includes pay increases of up to 20.5% and annual raises, marking a resolution to their long-standing dispute that even garnered attention from President Biden. Notably, this contract is the first to include payment for boarding time, affecting about 28,000 attendants. The overwhelming support for the agreement reflects the urgency for improved compensation, as flight attendants had not received raises since 2019.
Source: YAHOO
Reported 27 days ago
Amazon.com announced an investment of $2.1 billion for its Delivery Service Partners (DSP), with $660 million dedicated to enhancing driver compensation over the next year. This investment is expected to raise the average earnings for drivers by approximately $1.50 to around $22 per hour, marking a 7% increase from last year. Additionally, Amazon plans to introduce a new app for DSP drivers to access earned wages ahead of payday, as well as implement AI technology to improve road safety for drivers.
Source: YAHOO
Reported 27 days ago
Max Levchin, CEO of Affirm, discussed the company's evolution at the Goldman Sachs Communacopia and Technology Conference, highlighting a shift from a startup mindset to a growth-focused strategy. He emphasized that Affirm is more than just a buy now, pay later service, envisioning the firm as a comprehensive financial services provider that offers transparent access to credit. Looking ahead, Levchin aims to position Affirm as a modern competitor to American Express, advocating for a payment system that prioritizes consumer-friendly policies without hidden fees.
Source: YAHOO
Reported 27 days ago
OpenAI has introduced its new 'Strawberry' series of AI models, named o1 and o1-mini, aimed at enhancing reasoning capabilities for solving complex problems across various domains including science, coding, and mathematics. The o1 model scored 83% on the International Mathematics Olympiad qualifying exam, significantly outperforming its predecessor, GPT-4o, which scored 13%. By implementing 'chain-of-thought' reasoning techniques, these models autonomously break down intricate challenges into manageable steps, improving their problem-solving process.
Source: YAHOO
Reported 27 days ago
In an episode of 'Financial Freestyle with Ross Mac,' Carolyn Aronson, CEO of It's a 10 Haircare, shares her perspective on what sets successful entrepreneurs apart. She emphasizes that those in the top 1-2% possess a distinctive mindset characterized by big thinking and a lack of average fears. Aronson points out that while many aspire to entrepreneurship, the readiness to embrace risks differentiates true entrepreneurs from others who hesitate at critical junctures.
Source: YAHOO
Reported 27 days ago
Source: BARRONS
Reported 27 days ago
Stocks are performing well as investors prepare for a likely Federal Reserve interest rate cut of 25 basis points next week. Recent data shows mortgage rates have dropped to 6.2%, the lowest since February 2023, offering potential relief in the housing market. In the latest financial news, companies like Moderna, Micron Technology, and Broadcom are trending.
Source: YAHOO
Reported 27 days ago
At the Goldman Sachs Communicopia and Tech Conference, Affirm CEO Max Levchin highlighted the company's transition from a buy now, pay later (BNPL) model to a broader financial services approach. Emphasizing a 'payments first' philosophy, Levchin expressed aspirations to establish Affirm as a significant competitor to American Express, while also discussing the strategic incorporation of artificial intelligence to enhance employee productivity without replacing jobs.
Source: YAHOO
Reported 27 days ago
Medical Properties Trust's shares surged by 16.8% following a legal settlement with its largest tenant, Steward Health Care. This agreement enables MPT to form new leases with four hospital operators, set to begin generating income in 2025. Despite prior financial troubles and a significant dividend cut, the resolution marks a hopeful turnaround for the REIT as it overcomes challenges and stabilizes its revenue.
Source: YAHOO
Reported 27 days ago
McDonald's has announced the extension of its popular $5 value meal deal through December, aiming to maintain affordability in its menu across most US markets. This move reflects the fast food chain's strategy to attract customers by keeping prices low while enhancing the in-store experience.
Source: YAHOO
Reported 27 days ago
As the NFL season begins, Flutter Entertainment, parent of FanDuel, captures investor interest with its sports betting success. Barclays' Brandt Montour calls Flutter an 'undisputed leader,' noting its complex technology and risk management that set it apart. Despite competition from companies like DraftKings and ESPN Bet, Montour emphasizes that Flutter's longstanding market dominance and expertise make it hard for new entrants to replicate its success.
Source: YAHOO
Reported 27 days ago
Recent data reveals a record number of 401(k) millionaires, with approximately 497,000 accounts exceeding $1 million. UBS financial advisor Tracy Byrnes emphasizes the importance of actively managing retirement savings—rebalancing and diversifying investments, increasing contributions with salary growth, and avoiding early withdrawals—for achieving long-term financial goals.
Source: YAHOO
Reported 27 days ago
According to Federal Reserve data, U.S. household wealth rose to a record $163.8 trillion in the second quarter of 2024, primarily driven by a $1.8 trillion increase in real estate values and a $700 billion gain in stock equity. This increase comes despite a 3.2% rise in household debt, the fastest rate since Q3 2022, while cash holdings decreased slightly to $18.44 trillion. The report arrives ahead of anticipated interest rate cuts from the Federal Reserve as inflation stabilizes.
Source: YAHOO
Reported 27 days ago
U.S. stock markets saw continued gains on Thursday, with the S&P 500 and Nasdaq rising for the fourth consecutive day, fueled by positive sentiment in technology stocks. The S&P 500 climbed by 0.7%, while the Nasdaq jumped by about 1%, amidst fresh inflation data indicating cooling pressures and higher-than-expected jobless claims. The anticipation of a modest 25 basis point interest rate cut by the Federal Reserve next week has further boosted investor optimism.
Source: YAHOO
Reported 27 days ago
Mortgage rates have reached their lowest level since February 2023, with the average rate on a 30-year fixed mortgage dropping to 6.2%. This decrease is attributed to a mix of softening economic data and expectations of an interest rate cut by the Federal Reserve. However, despite the lower rates, home sales remain sluggish due to high house prices and limited inventory, with the Pending Homes Sales Index hitting a two-decade low.
Source: YAHOO
Reported 27 days ago
DHL is suing MyPillow, founded by Mike Lindell, for nearly $800,000 in unpaid bills related to parcel delivery services. The lawsuit claims that MyPillow failed to adhere to a settlement agreement mandating payments, with Lindell stating he was unaware of the lawsuit and that his company ceased using DHL over a year ago due to shipment disputes.
Source: YAHOO
Reported 27 days ago
Andrew Krei, co-chief investment officer at Crescent Grove Advisors, argues that the recent market volatility is unwarranted, given the fundamental health of the economy. He noted that while traders are anticipating a Federal Reserve interest rate cut, the labor market's slowdown indicates a cooling economy rather than a recession. Krei emphasizes solid corporate earnings and a stable financial market, predicting growth opportunities in sectors outside of technology as interest rates ease.
Source: YAHOO
Reported 27 days ago
On September 12, 2024, as part of the Polaris Dawn mission, billionaire Jared Isaacman became the first private citizen to perform a spacewalk, followed closely by SpaceX engineer Sarah Gillis. This monumental achievement is part of a mission that features an all-civilian crew of four, marking a significant milestone in space exploration.
Source: YAHOO
Reported 27 days ago
Financial expert Dave Ramsey highlights that spending just $13.70 a day on unnecessary items can lead to a staggering $5,000 loss each year. He emphasizes that small daily expenses can accumulate and hinder financial progress, urging individuals to be mindful of their spending habits. Ramsey suggests practical measures like budgeting and prioritizing useful expenditures to enhance savings and achieve financial goals.
Source: YAHOO
Reported 27 days ago
Frito-Lay has elevated its sponsorship with FIFA to a second-tier global status for the upcoming men's and women's World Cups, introducing a 'fan of the match' award for every game. The partnership, which includes the 2026 men's World Cup and the 2027 women's tournament, aims to celebrate passionate fans and enhance engagement at the events.
Source: YAHOO
Reported 27 days ago
The European Commission has rejected proposals from Chinese electric vehicle manufacturers to set minimum import prices to avoid tariffs. This decision comes amidst an ongoing investigation into subsidies related to Chinese-built EVs. The Commission stated that none of the proposals effectively addressed the negative impacts of subsidies, emphasizing the importance of compliance with WTO rules. As the EU prepares to propose tariffs up to 35.3% on Chinese EVs, discussions with Chinese officials will continue.
Source: YAHOO
Reported 27 days ago
Strategist George Seay warns that the US economy could 'keel over' in the next two years due to the Federal Reserve's cautious approach to interest rate cuts. He predicts a modest reduction of 25 basis points, emphasizing that the Fed has been slow to react to the economic cooling. Seay suggests that interest-sensitive stocks may perform better as the economy slows, while the tech sector may have peaked.
Source: YAHOO
Reported 27 days ago
DirecTV has reported that its ongoing licensing dispute with Walt Disney has resulted in a loss of customers, as subscribers have been unable to access Disney's networks since September 1 due to the failure to agree on a new distribution deal.
Source: YAHOO