Reported 21 days ago
Buyout firms Silver Lake and Bain Capital are preparing to bid for a minority stake in Intel's programmable chips unit, Altera, which Intel acquired for nearly $17 billion in 2015. Intel has begun efforts to sell a portion of Altera, anticipating initial bids in the coming weeks. Other interested parties, like Francisco Partners, may join the bidding process. The sale aims to strengthen Intel's finances amid struggles in the competitive chip market, with Altera's recent revenue growth underlining its potential value.
Source: YAHOO
Reported 21 days ago
Elon Musk confronts significant court decisions as he navigates the intersection of politics and business, with a Pennsylvania judge assessing the legality of his $1 million election sweepstakes and a Delaware judge poised to rule on his $56 billion compensation package from Tesla. The legality of Musk's political donations through America PAC is under scrutiny after a lawsuit filed by Philadelphia’s District Attorney, who claims it constitutes an illegal lottery. Concurrently, a Delaware court is expected to determine the validity of Musk's compensation package, initially voided due to undisclosed relationships with board members.
Source: YAHOO
Reported 21 days ago
Contrary to popular belief, ultra-wealthy individuals invest primarily in real estate rather than stocks. According to available data, about 32% of their wealth is allocated to residential properties and 21% to commercial real estate, totaling more than half of their assets in real estate. This preference is driven by the stability and long-term growth potential of real estate, especially in uncertain economic times, contrasting with the volatility of the stock market.
Source: YAHOO
Reported 21 days ago
Tech companies aiming to quickly supply power to expanding AI data centers are forced to rethink their strategies after US regulators denied Amazon's request to draw electricity from a Pennsylvania nuclear plant. The Federal Energy Regulatory Commission's decision poses challenges for the fast-paced tech sector, highlighting a disconnect with the slow development of power infrastructure as the demand for electricity rapidly grows.
Source: YAHOO
Reported 21 days ago
Warren Buffett has adopted a cautious investment stance ahead of the US presidential election, amassing a record cash reserve of $325 billion, selling $36 billion in stocks, and halting buybacks of Berkshire Hathaway shares. He notably reduced his large stakes in Apple and Bank of America due to concerns about high stock valuations, leading industry experts to suggest that Buffett's strategy indicates a risk-averse approach to the current economic climate.
Source: YAHOO
Reported 21 days ago
New Jersey's transit issues, highlighted by a summer of train breakdowns that disrupted commutes to New York City, may face further challenges depending on the outcomes of the upcoming elections, with vital funding for repairs in limbo. Officials warn that without adequate support, critical infrastructure improvements may stall, risking more cancellations and delays that could impact the New York City economy.
Source: YAHOO
Reported 21 days ago
Source: BARRONS
Reported 21 days ago
Source: INVESTORS
Reported 21 days ago
Last-mile delivery startup SpeedX has acquired Accelerated Global Solutions (AGS), a cross-border e-commerce logistics provider, to enhance its delivery services in the U.S., Canada, and Puerto Rico. This merger follows a two-year partnership and aims to integrate SpeedX's last-mile capabilities with AGS's freight forwarding and customs brokerage. Both companies will maintain separate branding while targeting significant revenue growth, with plans to further expand into Southeast Asia, Australia, Europe, and the Middle East. SpeedX is focused on building a streamlined logistics system aimed at offering competitive solutions for mid-sized companies.
Source: YAHOO
Reported 21 days ago
KPMG plans to lay off less than 4% of its US audit workforce, which translates to approximately 330 employees, in an effort to adjust the size and skills of its team to better match market demands. This decision follows previous cuts and reflects ongoing challenges such as low attrition rates amid economic pressures.
Source: YAHOO
Reported 21 days ago
Bitcoin is on the verge of a major breakout, driven by record inflows into Bitcoin ETFs and increased investor interest due to the upcoming U.S. presidential election. Recent reports indicate that cryptocurrency investment products have attracted $2.2 billion in just one week, contributing to a total of $29.2 billion for the year. The rise of Bitcoin ETFs, with BlackRock's iShares Bitcoin Trust leading the way, is capturing attention from both institutional and retail investors. Analysts are optimistic about Bitcoin's future price trajectory, especially as it recently surpassed $71,500, suggesting continued inflows could push prices to new highs.
Source: YAHOO
Reported 21 days ago
California residents may face power shutdowns this week due to warm, dry winds that pose a significant wildfire threat. Edison International has already cut power to some areas, and over 170,000 homes might be affected. PG&E Corp. warns that 15,500 customer accounts in Northern California could also lose electricity. The National Weather Service predicts wind gusts hitting 50 mph, combined with high temperatures, increasing fire danger as dry vegetation from previous rains is now more susceptible to igniting.
Source: YAHOO
Reported 21 days ago
Source: BARRONS
Reported 21 days ago
Donald Trump has an enormous financial stake tied to the outcome of the 2024 presidential election, primarily through his ownership of Trump Media and Technology Group (DJT), valued at around $10 billion. As his share price fluctuates with his election odds, Trump's potential losses could reach $5.7 billion if he loses. His wealth is closely linked to DJT's performance, and a defeat could severely impact both his financial standing and public brand, making this election possibly the most consequential for his financial future.
Source: YAHOO
Reported 21 days ago
Source: INVESTORS
Reported 21 days ago
A recent survey by Voya Financial reveals that most individuals are willing to accept a pay cut in exchange for enhanced healthcare and benefits. Christin Kuretich, VP of supplemental products at Voya, emphasizes that the increasing concern over healthcare costs is prompting people to prioritize coverage for unexpected health events over salary. She recommends utilizing decision support tools available on benefit enrollment platforms to identify the best benefits for individuals and their families.
Source: YAHOO
Reported 21 days ago
Berkshire Hathaway is rapidly selling off its Apple shares, reducing its stake by over two-thirds, to amass a record cash reserve of $325.2 billion. Warren Buffett's decision to divest comes as he anticipates an increase in capital gains taxes, which could affect future investments. Despite offloading shares, Apple remains Berkshire's top investment, valued at $69.9 billion, but Buffett is prioritizing maintaining liquidity in an uncertain fiscal environment.
Source: YAHOO
Reported 21 days ago
Berkshire Hathaway offers two types of common stock: Class A (BRK-A) and Class B (BRK-B). Wealth host Brad Smith discusses the differences between these classes and what potential investors, like Warren Buffett, can learn from them. The article also includes expert insights on market trends and related financial news.
Source: YAHOO
Reported 21 days ago
Physical Intelligence, a startup focused on creating versatile software for robots, has raised $400 million in early-stage funding, with contributions from Jeff Bezos, OpenAI, and venture capital firms Thrive Capital and Lux Capital. This funding values the company at $2 billion and aims to develop software applicable across various robotic tasks, reducing the need for specialized programs for each function.
Source: YAHOO
Reported 21 days ago
Salesforce recently launched Agentforce, a new AI platform that enables businesses to create independent AI agents for various tasks, positioning the company in a competitive AI landscape. CEO Marc Benioff highlighted Agentforce's transformative potential, countering challenges from rivals like Shopify. Analysts have responded positively, with some upgrading Salesforce's stock price targets based on potential revenue growth, while others adopt a cautious stance until more is known about Agentforce's market impact.
Source: YAHOO
Reported 21 days ago
China has lodged a complaint with the World Trade Organization against the European Union's anti-subsidy tariffs on Chinese electric vehicles, which it claims violate WTO rules. The EU recently announced import duties of up to 35% on these vehicles, arguing they undercut local prices, while China insists the move is an abusive protectionist measure targeting its growing green technology exports.
Source: YAHOO
Reported 21 days ago
J.B. Hunt Transport Services has announced a significant reshuffle in its executive management team as it prepares for a potential uptick in the freight market. Nick Hobbs retains his role as chief operating officer while also becoming president of highway services, overseeing key businesses amid ongoing operational losses in the brokerage segment. Other notable appointments include Brad Hicks as president of the dedicated unit and David Keefauver as executive vice president of people. These changes, effective December 1, aim to align the company's leadership strengths to enhance service delivery and capture market opportunities.
Source: YAHOO
Reported 21 days ago
The IRS has announced that starting January 1, 2025, workers will be able to contribute an additional $500 annually to their retirement accounts, raising the contribution limit for 401(k), 403(b), government 457 plans, and the Thrift Savings Plan to $23,500.
Source: YAHOO