Reported 29 days ago
After their messy divorce, Jennifer Lopez and Ben Affleck are faced with a staggering $283,666 monthly mortgage payment for their lavish $68 million property in Beverly Hills. This cost includes mortgage payments, property taxes, security, maintenance, and utility bills, totaling over $3.4 million annually. As they struggle to sell the home, industry experts question its valuation, suggesting it may only be worth $40 to $50 million, creating a financial strain for both stars.
Source: YAHOO
Reported 29 days ago
Jeff Bezos recently acquired a Gulfstream G700 for $80 million, adding to his collection of extravagant purchases including yachts and luxury homes. This acquisition exemplifies the vast wealth differences in society, with billionaires like Bezos spending a minor percentage of their fortune on lavish items while many struggle financially. Critics point out the growing wealth gap, while some argue that such spending can stimulate economic growth. Overall, Bezos's spending highlights significant economic trends and raises questions about wealth distribution, taxation, and its implications on social policies.
Source: YAHOO
Reported 29 days ago
Altria, a well-known tobacco company and 'Dividend King,' has increased its quarterly dividend by 4.1%, raising its yield to 7.9%. This marks the 59th dividend increase for the company in the last 55 years, solidifying its commitment to consistent payouts. Despite facing risks from declining tobacco consumption and regulatory challenges, Altria's diversified portfolio positions it well for future stability and investor confidence.
Source: YAHOO
Reported 29 days ago
Hindenburg Research has released a damaging short report on Super Micro Computer, raising concerns among investors about the company's future, particularly against the backdrop of AI-driven growth. This article explores the effects of Hindenburg's reports on other stocks, including Clover Health, DraftKings, and Block, highlighting how these companies have fared post-report and urging investors to critically evaluate such claims before making investment decisions.
Source: YAHOO
Reported 29 days ago
The Campbell Soup Company, established 155 years ago, is set to change its corporate name to The Campbell's Company, reflecting a broader focus beyond soup to include a variety of snack brands they have acquired. This name change comes as consumer preferences shift towards snacks rather than traditional soups, with snack sales increasing significantly for the company.
Source: YAHOO
Reported 29 days ago
In the wake of a contentious presidential debate between Kamala Harris and Donald Trump, Bitcoin saw a dip of up to 2.6%. Investors reacted to Harris's strong performance, which is believed to have tilted the debate in her favor regarding crypto regulation, even as Trump promotes the digital asset sector for support. The market's response indicates the influence of the debate on cryptocurrency sentiment, with Trump still seeking to align himself with the crypto community despite his earlier skepticism.
Source: YAHOO
Reported 29 days ago
Sony has launched the PlayStation 5 Pro at a high price of $700, significantly more than the $600 Xbox Series X, aiming to cater to dedicated gamers. The decision has sparked debate among analysts regarding its potential impact on sales, especially given the current gaming market trends and rising component costs. While the new console promises enhanced performance with up to 45% faster rendering, the price increase might limit its audience as it approaches the cost range of a gaming PC.
Source: YAHOO
Reported 29 days ago
Chinese appliance maker Midea Group plans to price its shares at HK$54.80 each, the upper limit of its indicative range, aiming to raise at least $3.46 billion in a Hong Kong listing. The book building process has been expedited and is set to close on Wednesday, with strong demand potentially increasing the total raised to $3.98 billion. This IPO would mark Hong Kong's largest since May 2021.
Source: YAHOO
Reported 29 days ago
During a visit to China, Spanish Prime Minister Pedro Sanchez urged the European Union to rethink its upcoming tariffs on Chinese electric vehicles, highlighting divisions within the EU regarding trade measures. Sanchez's remarks suggest a potential shift in national leaders' support, which could challenge the European Commission's efforts to impose significant tariffs aimed at protecting European manufacturers from Chinese competition. He emphasized the need for constructive dialogue and compromise rather than escalating trade tensions.
Source: YAHOO
Reported 29 days ago
A partial collapse of the Carola Bridge in Dresden, eastern Germany, occurred early Wednesday, Sept. 11, 2024, disrupting major traffic routes and causing significant delays for trams, cars, bicycles, and pedestrians. Fortunately, no injuries were reported. Investigators are looking into the cause, potentially linked to corrosion from the former East German era. The incident also disrupted the city's heating system due to damaged pipes.
Source: YAHOO
Reported 29 days ago
Huawei's launch of the Mate XT, the world's first tri-foldable smartphone, has ignited a sense of national pride in China, showcasing its innovation amid U.S. sanctions. However, the phone's steep price tag of $2,800 has drawn significant backlash from consumers, with many expressing concerns about affordability during tough economic times. Although the device is celebrated as a technological triumph, a Weibo poll revealed that a majority of potential buyers are deterred by the cost.
Source: YAHOO
Reported 29 days ago
UniCredit has acquired a 9% stake in Commerzbank, becoming its second-largest shareholder, as Germany begins to divest its holdings in the bank. This move by the Italian lender may pave the way for a potential takeover that could significantly impact Europe's banking sector. Commerzbank's shares jumped following the announcement, and UniCredit expressed interest in exploring partnership opportunities, while also maintaining its support for the current management's efforts to enhance performance.
Source: YAHOO
Reported 29 days ago
Caroline Ellison, the former CEO of Alameda Research and a key witness in the trial of FTX founder Sam Bankman-Fried, has filed a request for no prison time at her upcoming sentencing on September 24. Her lawyers argued that her extensive cooperation with authorities following the collapse of FTX and her acceptance of responsibility for her actions should warrant leniency. Ellison's testimony was pivotal in Bankman-Fried's conviction, and despite facing significant personal consequences, she has been engaging in charity work and rebuilding her life.
Source: YAHOO
Reported 29 days ago
Boohoo has announced it will stop supplying US customers from its distribution center in Pennsylvania and revert to fulfilling orders from its UK facility due to cost-cutting measures. This reversal of strategy comes just over a year after establishing the US site, leading to projected financial write-downs. The company remains optimistic about its prospects in the US market despite recent struggles with supply chain issues and competition.
Source: YAHOO
Reported 29 days ago
Gold prices fell after a rise in core inflation in the US, which lowers the chances of a significant Federal Reserve interest rate cut. The core consumer price index increased by 0.3% in August, prompting traders to withdraw bets on a large rate cut this month. With gold trading near record highs, concerns arise as lower interest rates typically benefit the non-yielding bullion, but market dynamics indicate a cautious sentiment among traders, leading to profit-taking.
Source: YAHOO
Reported 29 days ago
Australian casino operator Star Entertainment announced it cannot finalize its preliminary financial results for fiscal 2024 due to ongoing regulatory challenges. The company remains under scrutiny from the New South Wales Independent Casino Commission for governance issues, resulting in a trading halt of its shares since earlier this month. Star had initially aimed to submit its full-year results by September 2 but has not provided a new timeline.
Source: YAHOO
Reported 29 days ago
U.S. investment fund Castlelake is reportedly considering the sale of its 79% stake in Spanish real estate company Aedas Homes, valued at approximately 845 million euros. The shares are currently trading at a two-year high, and any prospective buyer would need to make a public offer for all shares due to Spanish market regulations. The sale remains in a preliminary stage, according to Cinco Dias.
Source: YAHOO
Reported 29 days ago
A Bank of Japan board member, Junko Nakagawa, indicated that policy adjustments are likely if the economy meets expectations, causing the yen to rise against the dollar. While she acknowledged the need to manage market volatility following a recent rate hike, she suggested that upside inflation risks could compel future rate increases. Although many expect the BOJ to maintain current rates in the short term, discussions hint at potential hikes in alignment with economic performance.
Source: YAHOO
Reported 29 days ago
The Swiss franc has reached its highest value in nearly a decade, suggesting the likelihood of the Swiss National Bank implementing significant interest rate cuts. Economists predict that during its meeting on September 26, the bank may reduce rates by a quarter point, with increasing talk of a potential half-point cut. As the strong franc impacts exports and keeps inflation low, exporters are pressing for decisive action from the SNB to prevent further strengthening of the currency.
Source: YAHOO
Reported 29 days ago
Source: BARRONS
Reported 29 days ago
Suntory Holdings CEO Takeshi Niinami stated that Seven & i's response to Alimentation Couche-Tard's $38.5 billion takeover bid was justified, deeming it too low. Niinami, highlighting the rising concerns among Japanese executives regarding potential foreign acquisitions, emphasized improvements in corporate governance and the need for Japanese companies to enhance value, especially amidst the pressures of a weak yen.
Source: YAHOO
Reported 29 days ago
Asian stock markets predominantly declined on Wednesday after a mixed finish on Wall Street, with key indices reflecting investor apprehensions surrounding the upcoming U.S. presidential debate. The Japanese yen weakened against the U.S. dollar, while the Nikkei 225 and other major Asian benchmarks registered losses. The market sentiments are closely tied to expectations of U.S. interest rate adjustments amid inflation reports and economic slowdown concerns.
Source: YAHOO
Reported 29 days ago
Larsen & Toubro Ltd. has announced plans to invest over $300 million in establishing a fabless semiconductor company in India, joining the country's efforts to enhance its local semiconductor industry. The investment aims to develop 15 products by the end of 2024 and to start sales by 2027. This initiative comes as India seeks to reduce its reliance on imports and boost its semiconductor capabilities amid global supply chain shifts and the ongoing US-China trade tensions.
Source: YAHOO
Reported 29 days ago
Sino-Ocean Group Holding Ltd. received a temporary pause in its liquidation hearing in Hong Kong as it seeks to bolster creditor support for its debt restructuring plan. A Hong Kong court has adjourned the case until September 23, allowing Sino-Ocean time to demonstrate progress amid rising tensions with a group of bondholders. The company, facing significant debt and a challenging real estate market, aims to restructure $5.6 billion into $2.2 billion of new debt, while navigating complex negotiations with its creditors.
Source: YAHOO
Reported 29 days ago
Mainland Chinese investors have turned their attention to Alibaba Group as its Hong Kong-listed stock became accessible to them through the Stock Connect program, culminating in an impressive HK$8.5 billion ($1.1 billion) in shares purchased on the first day. Following this surge, Alibaba shares rose 4.2% in Hong Kong, and analysts predict that inflows could reach $20 billion, giving mainland investors approximately a 10% stake in the company.
Source: YAHOO