Reported 27 days ago
Alaska Air Group has raised its profit outlook for the third quarter, attributing this increase to strong summer travel demand and lower-than-expected fuel costs, as discussed by experts Seana Smith and Madison Mills.
Source: YAHOO
Reported 27 days ago
General Motors and Hyundai are considering a partnership to enhance efficiency and cut costs, focusing on new vehicle development and electric battery technology amidst heightened competition in the electric vehicle market.
Source: YAHOO
Reported 27 days ago
In a discussion on Yahoo Finance, Oxford Economics' chief economist Ryan Sweet analyzed the recent rise in initial jobless claims to 230,000, exceeding expectations. He interpreted this data as positive for the Federal Reserve, suggesting it supports a potential 25 basis points rate cut in their upcoming meeting. Despite the increase, he indicated the labor market isn't suffering from significant layoffs, which Sweet considers encouraging as it hints at stability, setting the stage for a 'lively discussion' on future cuts.
Source: YAHOO
Reported 27 days ago
Ajit Jain, vice chair of insurance operations at Berkshire Hathaway, has sold around $139 million worth of his Class A shares, disposing of 200 shares while retaining control of 166. This sale represents a significant shift for Jain, who had previously increased his holdings, and raises questions about his future role alongside potential successor Greg Abel as Warren Buffett nears retirement.
Source: YAHOO
Reported 27 days ago
Investors are uncertain whether the Federal Reserve will implement a 25 or 50 basis point cut during the upcoming Federal Open Market Committee meeting, with opinions among financial experts at Yahoo Finance varying. The discussion focuses on economic data that may impact the central bank's choice amid growing recession concerns.
Source: YAHOO
Reported 27 days ago
Nvidia's CEO highlighted strong demand for AI chips, leading to a rise in semiconductor stocks. KeyBanc analyst John Vinh suggests that Oracle's announcement of robust growth and increased capital expenditures in AI assures investors that the AI market's momentum will continue. Other companies like AMD, Marvell, and Broadcom are also noted for their importance in this sector, as spending in AI hyperscaling is expected to remain strong into 2025.
Source: YAHOO
Reported 27 days ago
J.M. Smucker CEO Mark Smucker discusses the company's evolution over its 127-year history, focusing on maintaining authentic heritage while modernizing brands like Jif and Folgers. The strategic marketing shift aims to connect these brands with contemporary culture, leading to significant growth, particularly with products like Uncrustables and Café Bustelo. Despite challenges from competition and economic pressures, Smucker's leadership emphasizes the importance of diverse perspectives within his team to navigate the dynamic consumer goods market.
Source: YAHOO
Reported 27 days ago
Nvidia's stock jumped nearly 8% following CEO Jensen Huang's comments at the Goldman Sachs conference, where he emphasized the intense demand for AI chips and the high expectations placed on the company. The announcement underscores the fierce competition within the chip industry as companies vie for market dominance.
Source: YAHOO
Reported 27 days ago
Boeing factory workers are preparing to vote on a proposed labor agreement that includes a 25% wage increase. With the current contract expiring and the possibility of a strike looming from the 33,000 union members, the outcome of this vote could significantly impact Boeing's operations.
Source: YAHOO
Reported 27 days ago
Recent economic data indicated a slight increase in producer prices with a 0.2% month-over-month rise and jobless claims exceeding expectations at 230,000. Nvidia's CEO, Jensen Huang, fueled optimism in the tech sector regarding chip demand. Meanwhile, Boeing's contract with factory workers is nearing expiration, with a tentative agreement reached that union members will vote on soon.
Source: YAHOO
Reported 27 days ago
Microsoft confirmed that its cloud-based productivity suite, including Word and Teams, has recovered after a significant outage disrupted services for thousands of users. The issue was linked to a change made by a third-party internet service provider, which has since been reverted. Reports of disruptions peaked at over 23,000 but decreased to around 800 as connectivity issues were resolved.
Source: YAHOO
Reported 27 days ago
The number of new unemployment claims in the US rose slightly to 230,000, indicating continuous low layoffs despite a cooling labor market. While inflation remains a concern, producer prices only saw a slight uptick, diminishing speculation of a significant interest rate cut by the Federal Reserve in its upcoming meeting. The unemployment rate has also declined, contributing to a mixed outlook in financial markets.
Source: YAHOO
Reported 27 days ago
Recent changes to the UK's bank capital regulations aim to support smaller lenders by making it easier for them to compete with major banks in the mortgage market. The Bank of England's reform allows these banks more flexibility in calculating risk weights, which could lower their operational costs and enhance competitive rates. This change is expected to help smaller banks, like Metro Bank and the OSB Group, improve their market position as they navigate a tough economic landscape dominated by larger institutions.
Source: YAHOO
Reported 27 days ago
The European Central Bank executed its second interest rate cut of the year, reducing the deposit rate by 25 basis points to 3.50% amid slowing inflation and weakening economic growth, while also adjusting the refinancing rate down by 60 basis points to 3.65%. Despite this move, the ECB provided limited guidance on future policy, leaving investors cautious yet optimistic about potential further cuts, as economic indicators suggest a need for additional support.
Source: YAHOO
Reported 27 days ago
The U.S. Treasury has introduced proposed rules for a corporate alternative minimum tax set at 15% aimed at big corporations earning over $1 billion annually. This initiative, part of the Inflation Reduction Act, aims to raise an estimated $250 billion in revenue over the next decade from about 100 companies currently paying an average tax rate of 2.6%. The proposed rules also aim to close loopholes that allow these corporations to minimize their tax obligations, leveling the playing field for small businesses.
Source: YAHOO
Reported 27 days ago
US stocks rose on Thursday, with the S&P 500 and Nasdaq Composite gaining for the fourth consecutive day as fresh inflation and labor data bolstered expectations for a potential quarter-point interest-rate cut by the Federal Reserve. The Producer Price Index reported a 0.2% monthly increase, indicating cooling inflation, while initial jobless claims unexpectedly rose to 230,000. Despite a strong performance from tech stocks like Nvidia and Meta, shares of Moderna fell after the company lowered its revenue outlook.
Source: YAHOO
Reported 27 days ago
The European Central Bank has revised down its economic growth forecast for 2024 to 0.8% from 0.9%, while projecting inflation to reach its 2% target by late 2025. Despite ongoing inflation challenges over the past three years, the ECB started to lower interest rates after signs of easing price pressures. The inflation forecast for next year stands at 2.5%, expected to decline to 2.2% in 2025.
Source: YAHOO
Reported 27 days ago
U.S. wholesale prices experienced a slowdown last month, indicating a potential easing of inflation pressures that may lead the Federal Reserve to lower interest rates. The Labor Department reported a 0.2% rise in the producer price index from July to August, with an annual increase of just 1.7%, the lowest since February. Core prices, excluding food and energy, rose 0.3%. Overall, these trends suggest inflation is trending closer to the Fed's 2% target, following significant hikes in previous years.
Source: YAHOO
Reported 27 days ago
Last week, jobless claims in the U.S. increased by 2,000 to 230,000, aligning with economist expectations. Despite the slight rise, layoffs are still at historically low levels, with the total number of individuals collecting unemployment benefits rising modestly to approximately 1.85 million. Although claims have edged up since early 2024, they remain low by historical standards, indicating a cooling job market following several interest rate hikes aimed at controlling inflation.
Source: YAHOO
Reported 27 days ago
Hewlett Packard Enterprise Co. is seeking investors for a potential $9.5 billion debt package to finance its acquisition of Juniper Networks. The plan includes issuing $6.5 billion in unsecured bonds and a $3 billion term loan, aiming to capitalize on favorable borrowing conditions ahead of the US presidential election. This follows HPE's agreement to buy Juniper for $14 billion to expand its networking business.
Source: YAHOO
Reported 27 days ago
The latest reports show a slight rise in new unemployment claims in the US, indicating stability in the labor market despite a slowdown in hiring. Although claims increased by 2,000 to a seasonally adjusted 230,000, the overall trend suggests low layoffs. Additionally, producer prices saw a moderate rise, reducing expectations for significant interest rate cuts by the Federal Reserve in the upcoming policy meeting.
Source: YAHOO
Reported 27 days ago
Brazilian mining company Vale aims for 10% of its iron ore production to come from tailings by 2030, as part of its 'circular mining' initiative. This approach, designed to reuse mine waste, follows past disasters and aims to reduce dangerous tailing storage. The company forecasts a production increase, expecting to recover about 7 million metric tons from tailings in 2024 alone, while overall production could exceed 360 million tons annually post-2030.
Source: YAHOO
Reported 27 days ago
China's Ant Group is refinancing its $6.5 billion syndicated bank credit line from 2019 to strengthen its overseas operations. A portion of the funds, approximately $1.5 billion, will be allocated to its international arm, Ant International. This move follows a significant restructuring of the company and a reported 10% drop in quarterly profits.
Source: YAHOO
Reported 27 days ago
More Americans applied for unemployment benefits last week, indicating a slight increase in claims; however, layoffs remain at historically low levels, suggesting a resilient job market.
Source: YAHOO
Reported 27 days ago
Wholesale inflation has decreased last month, suggesting that the inflationary pressures in the economy are beginning to moderate.
Source: YAHOO