Reported 20 days ago
Stellantis CEO Carlos Tavares did not confirm Maserati's previously announced electrification plans during a recent meeting with union representatives, leading to rising concerns about the brand's future. Despite earlier commitments to electrify the lineup by 2028, including the MC 20 sports car, Tavares did not provide specific updates on electric models during his visit to Maserati's Modena plant. The company has previously denied rumors about a potential sale of Maserati but has emphasized the need for profitability.
Source: YAHOO
Reported 20 days ago
Wynn Resorts (WYNN) shares fell significantly on Tuesday after the company reported disappointing third quarter earnings, missing both revenue and profit estimates. The downturn was primarily attributed to declines in key markets, particularly in Macau and Las Vegas, marking the largest intraday drop for the stock in nearly a year.
Source: YAHOO
Reported 20 days ago
This week marked the largest withdrawals from spot bitcoin exchange-traded funds (ETFs) since May, with investors pulling out $541 million primarily due to uncertainty surrounding the U.S. presidential election. Experts suggest that the ambiguous outcome of what many consider a critical election has led to a 'wait-and-see' approach, making risk assets like bitcoin less attractive. Despite bitcoin's significant price growth this year, volatility is expected as the election results approach, with predictions for the cryptocurrency's value to range between $60,000 and $80,000 post-election.
Source: YAHOO
Reported 20 days ago
Ferrari's stock price fell significantly after the company reported a 22% decline in sales in China during the third quarter, coupled with a 29% year-over-year decrease in shipments to mainland China, Hong Kong, and Taiwan. This downturn highlights the luxury automaker's struggles in a key market amid weakened demand.
Source: YAHOO
Reported 20 days ago
As Election Day sees Vice President Kamala Harris or former President Donald Trump poised to become the next U.S. president, market experts highlight two crucial issues that could shape financial trends: debt limit negotiations and tax extension policies. Analysts suggest the U.S. will avoid defaulting on its debt, but unresolved limitations may stress Treasury markets. Additionally, potential changes to state and local tax deductions could depend heavily on decisions made by the upcoming administration.
Source: YAHOO
Reported 20 days ago
Retail trading platforms are alerting users of potential disruptions on Election Day due to expected market volatility. Traders are warned about possible trading suspensions and increased fluctuations, especially as polls close late and with significant financial announcements anticipated shortly after. While some brokerages have not reported issues yet, firms emphasize that investors should maintain their strategies amid the turbulent environment.
Source: YAHOO
Reported 20 days ago
Italy's data protection authority has criticized Intesa Sanpaolo for underestimating a severe data breach involving around 3,500 clients, including Prime Minister Giorgia Meloni. The breach resulted from an employee accessing customer data without authorization. Despite Intesa claiming the number of affected clients was lower than reported, the authority emphasized the high risks posed by the breach to individual rights and demanded immediate notification of affected customers, as well as a review of the bank's security measures.
Source: YAHOO
Reported 20 days ago
In the face of market volatility from the upcoming US election and ongoing Federal Reserve rate easing, Adam Coons from Winthrop Capital Management discusses the appeal of the US bond market for investors. He emphasizes that with current global conflicts and economic pressures, a defensive investment strategy, including increased fixed income allocation, is wise. Coons believes the risk of significantly higher interest rates is low, suggesting that bond prices are likely to appreciate.
Source: YAHOO
Reported 20 days ago
The 2024 presidential election is poised to significantly influence US corporate tax rates, with Vice President Kamala Harris advocating for higher rates, while former President Donald Trump seeks to lower them. Analysts discuss how each candidate's victory could affect deductions and overall earnings for both ordinary Americans and S&P 500 companies, highlighting considerations for taxpayers based on potential policy changes.
Source: YAHOO
Reported 20 days ago
After two years of moving to the suburbs, homebuyers are now returning to urban areas, leading to a shift in housing trends as compared to pre-pandemic times.
Source: YAHOO
Reported 20 days ago
As Election Day unfolds in the U.S., Yahoo Finance's Alexandra Canal analyzes the market implications of a potential victory for Vice President Kamala Harris over former President Donald Trump, focusing on the 'Harris trade' and 'Trump trade' and how specific sectors may respond to the election outcomes.
Source: YAHOO
Reported 20 days ago
With rising student loan debt in the U.S., parents are advised to start saving for their children's college education. Finance expert Daniel Roccato highlights four key savings options: custodial accounts, which are easy to open but give children full control upon adulthood; U.S. savings bonds that offer tax-free interest for educational use but have income limits; Education Savings Accounts (similar to IRAs) that allow tax-free growth with a $2,000 contribution limit per year; and 529 plans that have no contribution limits and permit tax-free growth depending on state regulations.
Source: YAHOO
Reported 20 days ago
Moderna's CEO, Stephane Bancel, is stepping down from his role as chief commercial officer, as reported by Bloomberg News. President Stephen Hoge will assume responsibility for sales along with medical and research affairs, while Bancel will continue his role as CEO. This change follows Bancel's earlier appointment to lead sales and marketing after the departure of the previous commercial officer.
Source: YAHOO
Reported 20 days ago
A late-night crash in Webberville, Michigan, on November 2, 2024, involving a semitruck resulted in four deaths and 17 injuries. The incident occurred when the truck driver failed to notice a line of stopped vehicles, leading to a collision that caused both the truck and several other vehicles to catch fire. The driver and another individual remain hospitalized, while multiple others received treatment. The names of the deceased include a 29-year-old man and three members of a Lansing family.
Source: YAHOO
Reported 20 days ago
As Americans cast their votes on Election Day, Yahoo Finance's Alexandra Canal discusses key market movements, including the Trump and Harris trades influenced by their respective stock performances. Boeing has successfully ended a nearly two-month strike with a new labor contract, while Hims & Hers Health's stock rises after exceeding Q3 earnings estimates and announcing plans for a generic weight-loss drug.
Source: YAHOO
Reported 20 days ago
With the 2024 U.S. presidential election in progress, some investors are optimistic about homebuilder stocks, particularly D.R. Horton and Lennar, should Vice President Kamala Harris secure a victory. The SPDR Homebuilder ETF is seeing gains as market participants speculate on favorable outcomes for the homebuilding sector.
Source: YAHOO
Reported 20 days ago
As the 2024 US presidential election approaches, the upcoming expiration of the Tax Cuts and Jobs Act (TCJA) provisions at the end of 2025 is set to have significant effects on taxpayers, regardless of the election outcome. Jeff Kelson from EisnerAmper emphasizes that this expiration will likely push tax policy to the forefront of legislative discussions, potentially altering state tax exemptions, business deductions, and tax rates. However, changes will not take effect until 2026.
Source: YAHOO
Reported 20 days ago
Ferrari's stock fell 7.36% after the company reported third-quarter results that met expectations but showed a 2% drop in deliveries, largely due to a significant 22% decline in shipments to China. Revenue rose to €1.64 billion ($1.79 billion), with adjusted EPS matching estimates. Despite this delivery slump, Ferrari reaffirmed its positive full-year outlook, anticipating revenue of €6.55 billion ($7.14 billion) for the year, supported by strong demand in other regions and continued interest in high-end models like the Ferrari Purosangue SUV and the Daytona SP3.
Source: YAHOO
Reported 20 days ago
Source: BARRONS
Reported 20 days ago
OpenAI is in early discussions with the California Attorney General's office about transitioning from a non-profit organization to a public benefit corporation, according to a Bloomberg report. This potential shift aims to attract investors by changing the company's operational structure.
Source: YAHOO
Reported 20 days ago
法國金融檢察官於週二搜查了私募股權公司CVC Capital Partners的辦公室及法國足球管理機構，調查可能的腐敗案件。此調查源自反腐敗組織AC !!提出的一項投訴，涉及2022年4月CVC與法國職業足球聯盟所簽署的交易。該交易允許CVC以15億歐元的投資取得聯盟的商業子公司LFP Media的13%股權，並正在調查公款濫用、公共官員腐敗及非法利益衝突等問題。
Source: YAHOO
Reported 20 days ago
Saudi Arabia's stock exchange, Tadawul, is planning to increase its focus on mergers and acquisitions to enhance the kingdom's capital markets, according to key officials. This strategy aligns with Crown Prince Mohammed bin Salman's Vision 2030 initiative, aimed at diversifying the economy away from oil reliance. With notable stock sales this year, including a significant offering from Saudi Aramco, the exchange is also exploring post-trade services and data services to support its growth.
Source: YAHOO
Reported 20 days ago
Brookfield Asset Management is seeking additional information from Grifols SA regarding related-party transactions as part of its due diligence process for a potential takeover. This request comes amid scrutiny following allegations from a short seller that Grifols improperly consolidated profits from its sales to a major shareholder. Grifols has made adjustments to its financial statements and removed family members from executive roles to enhance oversight. As Brookfield moves forward with its bid, some Grifols shareholders are taking steps to protect their interests.
Source: YAHOO
Reported 20 days ago
Bernie Marcus, the co-founder of The Home Depot and a noted philanthropist, has died at 95 in Boca Raton, Florida, surrounded by family. Known for his leadership as CEO during the company's rapid growth, Marcus was a prominent Republican supporter and left a philanthropic legacy through various charities, including the Georgia Aquarium. His contributions shaped Home Depot into the world's largest home improvement retailer, employing over 500,000 people and achieving nearly $153 billion in sales in 2023.
Source: YAHOO
Reported 20 days ago
Pimco and DoubleLine are capitalizing on turmoil at Western Asset Management Co. (Wamco) following an SEC investigation into key trader Ken Leech, leading to significant asset withdrawals. They are vying for billions in mandates as clients transition away from Wamco, navigating a competitive landscape where traditional money managers struggle against the rise of passive funds. This unexpected situation gives firms like Pimco a rare chance to attract fresh capital during a challenging time for active asset management.
Source: YAHOO