Reported about 1 month ago
Recent jobs data has raised concerns about the U.S. economy's stability, leading to a significant drop in U.S. stocks, particularly in the technology sector. As investors grapple with a potential Federal Reserve interest rate cut and the implications of the diminishing labor market momentum, market volatility has heightened. Analysts are divided on whether the data suggests a normalization of the job market or a warning sign of recession, with heightened scrutiny on upcoming inflation data and an imminent U.S. presidential election adding to the uncertainty.
Source: YAHOO
Reported about 1 month ago
Starboard Value has filed a shareholder resolution aimed at eliminating the dual-class share structure that allows Rupert Murdoch significant control over News Corp, even as he faces a familial legal battle over succession. This proposal is a direct challenge to Murdoch's authority, marking the first such instance since he stepped down as board chair. While the resolution is not binding, it suggests potential shifts in company governance and shareholder influence, with Starboard also advocating for business spin-offs to enhance shareholder value.
Source: YAHOO
Reported about 1 month ago
Recent U.S. jobs data suggests a cooling labor market, complicating the Federal Reserve's decision on potential interest rate cuts. While some officials see the possibility of larger cuts depending on future data, others emphasize the economy's overall resilience despite slower job creation. The upcoming Fed meeting could spark intense debate on the appropriate pace and scale of cuts, as policymakers balance their responses to evolving economic indicators.
Source: YAHOO
Reported about 1 month ago
Institutional Shareholder Services (ISS) has advised Squarespace investors to vote against the proposed deal by private equity firm Permira, citing concerns that the sales process failed to maximize shareholder value and highlighting the company's strong operational performance and outlook. ISS acknowledged the offer includes a premium over historical trading levels but noted there are no risks associated with rejecting the proposal.
Source: YAHOO
Reported about 1 month ago
In his recent financial disclosure, US Supreme Court Justice Samuel Alito revealed that he took no trips funded by others in 2023, but admitted to accepting $900 concert tickets as a gift from German socialite Gloria von Thurn and Taxis. Alito also acknowledged failing to report a loan from financial firm Edward Jones for several years, while noting his ongoing stock holdings in multiple companies amidst heightened scrutiny of Supreme Court ethics.
Source: YAHOO
Reported about 1 month ago
Vale, BHP, and their joint venture Samarco are reportedly close to finalizing a deal with Brazilian authorities to pay approximately 100 billion reais ($18 billion) for the aftermath of the 2015 Mariana dam collapse, which resulted in the deaths of 19 individuals and widespread environmental damage. A final agreement is expected soon, surpassing their previous offer of 82 billion reais.
Source: YAHOO
Reported about 1 month ago
David Bonderman's Wildcat Capital Management has invested over $200 million in Whitebark Investors, a newly established hedge fund led by Thomas McConnon, which was spun off from Wildcat. The fund aims to create a public equity portfolio with a long-term, patient investment approach, allowing up to 25% of its capital to be allocated to closely held companies anticipating IPOs. Wildcat's CIO, Len Potter, expressed confidence in Whitebark's potential based on its past performance.
Source: YAHOO
Reported about 1 month ago
Four years after hurricanes Laura and Delta devastated Lake Charles, Louisiana, residents continue to suffer from inadequate recovery efforts. Many remain without basic necessities like running water and are caught in lengthy processes to secure federal aid. The local insurance industry's failures add to the struggle, leaving homeowners in financial distress and legal battles. Despite some rebuilding efforts, a significant portion of the community remains trapped in substandard living conditions, highlighting the ongoing challenges in recovery.
Source: YAHOO
Reported about 1 month ago
The UK payments industry is urgently advocating for amendments to upcoming fraud reimbursement regulations, with a key recommendation to lower the maximum claim cap to £30,000, amidst regulatory changes and discussions among financial leaders. The Payments Association is pushing for adjustments to better coincide with the majority of fraud cases, while noting that authorized-push-payment fraud resulted in substantial losses last year. As the deadline for the new rules approaches, many firms still await onboarding onto the Pay.UK system, which is crucial for implementing the reimbursements.
Source: YAHOO
Reported about 1 month ago
Pasco County, Florida, which is experiencing rapid population growth, has borrowed $65 million to expand its overcrowded jail by adding around 500 new beds. The county has seen a 27% increase in its population over the last decade, leading to stresses on local infrastructure, including the correctional facility that now averages over 1,500 inmates despite being built for 1,100. The expansion is part of broader efforts to accommodate the increasing demand for public services amid a blooming economy.
Source: YAHOO
Reported about 1 month ago
Aging in place remains a preference for most older Americans, but the financial and emotional toll can be overwhelming. As highlighted by The Wall Street Journal, many families face significant challenges in caring for aging relatives, with costs for in-home care easily reaching $240,000 annually. With the growing senior population, this issue is expected to worsen, prompting discussions about potential solutions such as reverse mortgages. AARP has called for a national aging strategy to address these pressing needs.
Source: YAHOO
Reported about 1 month ago
Redfin CEO Glenn Kelman highlights the critical issue in the housing market—the lack of sufficient home supply. He believes this reflects a 'structural problem' in the U.S., stating that the country has forgotten how to build homes. While proposals from leaders such as Vice President Kamala Harris and former President Donald Trump aim to address housing regulations, Kelman emphasizes that local bureaucratic challenges remain significant obstacles.
Source: YAHOO
Reported about 1 month ago
Russia's economy ministry has adjusted its forecast for 2024 oil and gas export revenues upward by $17.4 billion, totaling $239.7 billion, due to improved price expectations despite ongoing Western sanctions. The expected rise in crude oil exports to 239.9 million metric tons and an increase in the average price to $70 per barrel reflect the nation's ability to redirect trade towards China and India. Additionally, the outlook for 2025 has also been raised.
Source: YAHOO
Reported about 1 month ago
Unionized steelworkers are leveraging politics to prevent the takeover of US Steel by Japan's Nippon Steel, fearing job losses and factory closures. Amidst the political landscape with upcoming elections, prominent figures including President Biden and Vice President Harris oppose the deal, likely to secure votes in Pennsylvania. However, after the elections, the union's influence may wane, potentially paving the way for the completion of the purchase if Nippon can assure job protection and amend the deal accordingly.
Source: YAHOO
Reported about 1 month ago
The August jobs report, showing 142,000 job additions and a dip in unemployment to 4.2%, indicates a cooling labor market, reinforcing expectations for a Federal Reserve interest rate cut of 25 basis points. Two Fed officials advocated for this adjustment, emphasizing that while the job market is moderating, it's not leading towards a recession. Anticipation surrounds the upcoming Fed meeting as markets speculate on the magnitude and frequency of potential rate cuts, with a consensus leaning towards a cautious approach amidst encouraging inflation trends.
Source: YAHOO
Reported about 1 month ago
The Nasdaq and other major markets are experiencing declines after the August jobs report revealed only 142,000 jobs added, falling short of the expected 165,000. This reflects a cooling economy, while the chip sector faces mixed news as Broadcom's outlook disappoints, and Qualcomm considers acquiring parts of Intel's design business amidst new export controls on chips.
Source: YAHOO
Reported about 1 month ago
As the US rolls out new export controls targeting semiconductors, including quantum computing and high-bandwidth chips, China is expected to resist these measures strongly. Daniel Newman from the Futurum Group highlights the complexity of the semiconductor supply chain and discusses how China might still secure adequate supplies despite restrictions. He predicts that the global effort to maintain leadership in semiconductor technology will lead to challenges for China's development in this critical sector.
Source: YAHOO
Reported about 1 month ago
As September is often a turbulent month for stock and crypto markets, Yahoo Finance's Kerry Hannon addresses how this volatility could impact retirement accounts. The discussion highlights the risks of 401(k) investors selling off assets during times of anxiety and offers strategies to navigate these challenging market conditions effectively.
Source: YAHOO
Reported about 1 month ago
Goldman Sachs managing director Kate McShane highlights the increasing financial strain on lower-income consumers in the U.S., particularly as the holiday shopping season approaches and inflation continues to impact purchasing power. She notes that these consumers are seeking better prices rather than value, which has affected discount retailers like Dollar General and Dollar Tree, whose sales show the impact of stretched budgets. Industry leaders emphasize the importance of value across demographics, revealing that 60% of Dollar General's business comes from consumers earning $30,000 or less.
Source: YAHOO
Reported about 1 month ago
More than 90 business executives and over 100 current and former law enforcement officials have publicly endorsed U.S. Vice President Kamala Harris for the presidency against Republican Donald Trump ahead of the November election. The executives praised her track record in fostering business investment and democracy, while law enforcement officials cited concerns over Trump's policies and his treatment of law enforcement, emphasizing Harris's commitment to reducing gun violence and law and order.
Source: YAHOO
Reported about 1 month ago
Apple is set to host its 'It's Glowtime' event next week, where the highly anticipated iPhone 16 is expected to be launched. Yahoo Finance's Tech Editor, Dan Howley, discusses what both investors and consumers can expect, including updates on Apple's AI platform and new specifications for products like the iPhone 16 and AirPods.
Source: YAHOO
Reported about 1 month ago
ASML shares have dropped following the Dutch government's announcement of stricter export controls on advanced chip manufacturing equipment, citing national security. Additionally, Morgan Stanley has removed ASML from its list of preferred European semiconductor stocks and slightly adjusted its price target, raising concerns about the company's growth amid broader challenges in the chip sector.
Source: YAHOO
Reported about 1 month ago
Docusign's shares rose following a successful second quarter, surpassing earnings expectations and raising its revenue forecast. CEO Allan Thygesen highlighted the company's solid performance, stating that all key metrics, including billings, exceeded guidance. With the recent launch of its intelligent agreement management platform, Docusign aims for a modest recovery in the second half of the year, leveraging its broad customer base of 1.6 million monthly paying users to drive future growth.
Source: YAHOO
Reported about 1 month ago
Debt consolidation can help reduce high-interest costs by combining multiple debts into a single lower-interest loan, especially beneficial in today's high-interest environment. However, Prosper CEO David Kimball emphasizes the importance of changing spending habits to avoid accumulating more debt on credit cards, which may counteract the advantages of consolidation. Financial awareness and disciplined budgeting are critical for making this strategy effective.
Source: YAHOO
Reported about 1 month ago
The ongoing presidential race between Vice President Kamala Harris and former President Donald Trump raises questions about future economic policies. A recent discussion highlights Harris's new plan for small businesses and Goldman Sachs's projections indicating that Trump's policies could shrink the economy in 2025. Experts emphasize that the control of Congress will significantly influence economic outcomes, regardless of who wins the presidency.
Source: YAHOO