Reported about 1 month ago
Siemens is investing $60 million to establish a new factory in Horseheads, upstate New York, to produce high-speed trains for the Los Angeles to Las Vegas route. This factory, expected to create 300 jobs, will be the first site for high-speed rail production in the U.S. and is set to begin production in 2026, aiming to facilitate travel speeds of up to 186 miles per hour for the 218-mile journey.
Source: YAHOO
Reported about 1 month ago
Carolyn Aronson, CEO and founder of It's a 10 Haircare, shares her entrepreneurial journey on 'Financial Freestyle with Ross Mac.' Starting as a hairdresser, she highlights the significance of a solid foundation for long-term business success, emphasizing teamwork, determination, and the mindset needed to excel in the competitive landscape of entrepreneurship. Aronson advises aspiring entrepreneurs to ignore naysayers and focus on learning and growth to achieve greatness.
Source: YAHOO
Reported about 1 month ago
Apple's iPhone 16 launch event, titled "It's Glowtime," takes place today in Cupertino, California. Yahoo Finance's Tech Editor Dan Howley discusses what investors and consumers should anticipate, including new Apple products and potential AI software developments.
Source: YAHOO
Reported about 1 month ago
Barclays analysts have downgraded Adidas, Burberry, and Kering, reflecting a negative outlook for the retail sector as they note ongoing weaknesses in China's consumer market. This downgrade may impact the performance of these global brands in the near future.
Source: YAHOO
Reported about 1 month ago
According to Morningstar's Chief US Economist Preston Caldwell, the US economic growth may face a 'mild slowdown,' with projected GDP growth declining by nearly 1.5%. This outlook comes after a weaker-than-expected jobs report and declining bond yields, indicating a cooling labor market and potential interest rate cuts from the Federal Reserve throughout 2024. Despite these concerns, Caldwell does not predict a recession or labor market collapse.
Source: YAHOO
Reported about 1 month ago
Citigroup's CFO Mark Mason forecasts a 20% increase in investment banking fees in the third quarter compared to last year, driven by a rise in debt capital markets and M&A activities. However, market revenues are projected to decline about 4% after a previous 10% increase. Mason also noted concerns about consumer credit card payment declines among lower credit score customers, alongside regulatory challenges involving data management that the bank is working to address.
Source: YAHOO
Reported about 1 month ago
Gefran, an Italian sensor manufacturer, is exploring opportunities for mergers and acquisitions in Germany and North America, targeting companies with revenues between 10-20 million euros. CEO Marcello Perini stated that the company has sufficient liquidity for potential purchases and considers 2025 a favorable year for such deals. Despite a slight decline in sales in the first half of the year, Gefran aims to remain a stable and dividend-paying company on the Milan stock exchange.
Source: YAHOO
Reported about 1 month ago
Italian luxury sneaker brand Golden Goose reported a 12% increase in adjusted core profit, amounting to 109.2 million euros ($120.57 million) in the first half of the year. Revenues also grew by 12% at constant exchange rates, reaching 307 million euros, with strong contributions from the EMEA region. The company, which is privately held by Permira, postponed its initial public offering in June due to unfavorable market conditions.
Source: YAHOO
Reported about 1 month ago
Devices powered by lithium-ion batteries are experiencing a rise in overheating incidents during flights, with a reported increase of 28% from 2019 to 2023. E-cigarettes are the most common culprits, often placed in checked bags against TSA regulations. Notably, overheating incidents can pose significant risks in the cargo hold, prompting safety concerns as airlines have reported various emergencies linked to battery malfunctions.
Source: YAHOO
Reported about 1 month ago
Brad Smith and Seana Smith discuss the recent market downturn and the Federal Reserve's upcoming interest rate decisions. Strategist Matt Maley believes a 25-basis-point cut is more likely, arguing that a larger cut could unsettle the market. He highlights concerns about the market's optimistic outlook for the economy and stresses that while current earnings and growth are supporting the market, valuations remain high and may not be sustainable.
Source: YAHOO
Reported about 1 month ago
A recent Fannie Mae survey indicates that while 39% of consumers expect mortgage rates to decrease within the next year, only 17% believe it’s a good time to buy a home. The Home Purchase Sentiment Index saw a slight increase, driven by anticipated improvements in affordability, although overall consumer sentiment regarding home buying conditions remains largely unchanged.
Source: YAHOO
Reported about 1 month ago
A surge in dip buying has led to a rebound in stock prices following a recent selloff attributed to economic concerns. Investors are now keenly awaiting this week's inflation data, which may influence the Federal Reserve's decisions on interest rate cuts. Despite a drop in Apple shares before its product launch event, major tech stocks saw gains, contributing to a positive shift in the overall market sentiment.
Source: YAHOO
Reported about 1 month ago
Canada's canola stockpiles have surged to a four-year high of 3.1 million metric tons, following China's announcement of an anti-dumping investigation into Canadian shipments. This increase is a 67% rise from the previous year, coinciding with the new harvest. Traders are concerned that ongoing tensions between Canada and China could impact canola exports, causing futures prices to fluctuate.
Source: YAHOO
Reported about 1 month ago
Raj Agrawal, head of global infrastructure at KKR, emphasized that industrial assets like storage facilities and logistics represent the 'next big thing' in investment. He noted that many Fortune 500 companies may sell these assets to strengthen their balance sheets, creating substantial growth opportunities. KKR is increasing investments in digital infrastructure and the energy transition, recognizing the need for $100 trillion in infrastructure investment by 2040.
Source: YAHOO
Reported about 1 month ago
In a significant advancement for the hyperloop transit system, a test vehicle was successfully levitated and propelled through a 420-meter tube in the northern Netherlands. The project, initiated by Hardt Hyperloop and originally proposed by Elon Musk, aims to transport capsules at speeds of up to 700 kph (435 mph) in a pressurized environment. With successful testing of guidance and propulsion systems, the company targets passenger operations by 2030, although skepticism about the infrastructure costs remains.
Source: YAHOO
Reported about 1 month ago
The Port of Montreal has started a $42.41 million project to rehabilitate the Pie-IX rail bridge, expanding it from three to four tracks to enhance rail capacity and improve supply chain efficiency. The project will restore infrastructure, construct new storage tracks for the Lantic sugar refinery, and is supported by a federal investment of up to $16.75 million. Completion of structural works is expected in 2025, with the new railway bridge set to open in autumn.
Source: YAHOO
Reported about 1 month ago
CVC Capital Partners is intensifying its efforts to acquire Deutsche Bahn's logistics division, DB Schenker, by appealing directly to high-ranking officials at Deutsche Bahn. The private equity firm has submitted unsolicited letters outlining its proposals, including a full takeover offer and an alternative that allows Deutsche Bahn to retain a minority stake through a €1 billion reinvestment, which CVC claims would ultimately yield better returns compared to a rival bid from DSV A/S.
Source: YAHOO
Reported about 1 month ago
The New York Federal Reserve's August survey indicates that inflation expectations remain steady, with respondents anticipating a 3% inflation rate one year from now and 2.8% five years ahead. Despite a slight rise in expectations for house prices, the public does foresee higher costs for gas, rent, and medical care. The Fed is likely to reduce its interest rate next week in response to easing price pressures and mixed labor market outlook.
Source: YAHOO
Reported about 1 month ago
Starbucks marks a significant leadership change as Brian Niccol, the former CEO of Chipotle, takes over effective September 9, 2024. Yahoo Finance's Brooke DiPalma discusses what investors can anticipate from Niccol in his new role at the coffee giant.
Source: YAHOO
Reported about 1 month ago
Analysts are suggesting that Cardano (ADA) may be on the brink of a significant price rally, driven by three key factors: a bullish divergence indicating positive momentum, expected interest rate cuts that historically favor risky assets like cryptocurrencies, and the recent launch of a decentralized app (dApp) called Snake.Fun, which could inject new energy into Cardano's ecosystem. With these developments, the prospect of ADA achieving substantial gains seems promising.
Source: YAHOO
Reported about 1 month ago
Dell Technologies and Palantir Technologies are set to join the S&P 500 index on September 23, 2024, along with Erie Indemnity, replacing American Airlines, Etsy, and Bio-Rad Laboratories. This move has triggered a rally in their share prices.
Source: YAHOO
Reported about 1 month ago
Givenchy has officially announced Sarah Burton as its new creative director for both women's and men's collections. Burton, who previously led Alexander McQueen, expressed enthusiasm about joining the prestigious fashion house and hinted at her vision for future designs. Her first collection will debut at Paris Fashion Week in March.
Source: YAHOO
Reported about 1 month ago
Boeing has reached a tentative agreement with labor unions representing 33,000 workers, including a proposed 25% pay increase over four years. Analysts view this as a potential positive for Boeing's stock and a significant early victory for the new CEO, Kelly Ortberg, as the company aims to sidestep a looming strike before the current contract expires on September 12.
Source: YAHOO
Reported about 1 month ago
JPMorgan analysts have upgraded US Steel shares to Overweight, citing a favorable buying opportunity. This comes as the Biden administration aims to block the company's acquisition by Japan's Nippon Steel, influencing the stock's recent performance.
Source: YAHOO
Reported about 1 month ago
During their first debate in Philadelphia, Kamala Harris and Donald Trump are expected to focus heavily on economic topics, with Trump likely taking aim at Harris by labeling her a communist while she counters with critiques of his tariff plans potentially leading to a recession. With both candidates preparing for a heated exchange, key issues like tariffs, taxes, and small business support will likely shape the discourse, as they strive to present their economic visions amidst a backdrop of personal attacks.
Source: YAHOO