Reported about 1 month ago
President Emmanuel Macron's prolonged decision on appointing a new prime minister is restricting lawmakers' ability to modify France's budget. As the deadline approaches for presenting the budget bill, concerns are mounting over the rising national deficit and the impact of recent political instability on the economy, with the left-wing opposition demanding substantial spending increases.
Source: YAHOO
Reported about 1 month ago
LPL Financial's Chief Technical Strategist Adam Turnquist shared insights on the current economic landscape, emphasizing that the labor market is now a primary concern, shifting inflation to a secondary focus. As the market faces volatility ahead of an upcoming jobs report and the Federal Reserve's interest rate decision, Turnquist expresses optimism about achieving the Fed's 2% inflation target, noting consistent positive economic indicators.
Source: YAHOO
Reported about 1 month ago
McDonald's has become a focal point in the current presidential campaign as both Kamala Harris and Donald Trump seek to connect with the fast-food chain's vast American customer base. Harris highlights her past employment at McDonald's in an effort to resonate with voters, while Trump uses the chain to challenge his opponent. However, analysts suggest that while political visibility might sway public opinion, it is the impending policy issues—such as minimum wage and labor practices—that will significantly affect McDonald's operations moving forward.
Source: YAHOO
Reported about 1 month ago
The German government announced plans to decrease its 16.5% stake in Commerzbank AG, seizing the opportunity after a recent share rally. With the bank's shares up approximately 20% this year and trading at over €13, the federal finance agency indicated a positive outlook by starting to exit its investment. Although the government has no immediate plans to sell its entire stake, it joins other European nations in divesting from banks rescued during the financial crisis.
Source: YAHOO
Reported about 1 month ago
Electricite de France SA has raised its nuclear output forecast for 2024 to between 340 and 360 terawatt hours, up from 315 to 345 TWh, due to improved maintenance and stable weather conditions. However, the connection of a new nuclear plant, Flamanville 3, to the grid will be delayed until the end of autumn, after overcoming multiple construction challenges. This adjustment in forecast is significant as France faces a past where it was a net power importer. Improvements in EDF's nuclear production are aiding to stabilize wholesale electricity prices in Europe.
Source: YAHOO
Reported about 1 month ago
Victoria Fernandez, chief market strategist at Crossmark Global Investments, warns that while the technology sector has been a key market driver, it may not sustain its leadership through the end of 2024 due to increasing market uncertainty. She advises investors to consider diversifying into other sectors, such as financials, as potential volatility looms.
Source: YAHOO
Reported about 1 month ago
Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has tapped the bond market for the fourth time this year, raising $2 billion through a three-year sukuk and a green bond. The sukuk's spread was tightened significantly due to strong demand, and the fund's efforts are part of its broader strategy to finance substantial domestic investments, with financing needs projected at $22 billion for 2024.
Source: YAHOO
Reported about 1 month ago
New Fortress Energy has received authorization from the U.S. Department of Energy to export liquefied natural gas (LNG) from its facility in Mexico to non-free trade agreement countries. The company can export up to 1.4 million tonnes per annum for five years, starting from its Fast LNG 1 project which began output in July. This comes as demand for LNG is anticipated to grow in Latin America, particularly in nations like Brazil and Jamaica.
Source: YAHOO
Reported about 1 month ago
Boeing Co.'s stock faced a significant decline, dropping as much as 8.9%, after Wells Fargo & Co. downgraded its rating to a sell-equivalent. Analyst Matthew Akers expressed skepticism about the company's prospects and set a price target of $119, indicating a potential 32% decrease over the next year. The move reflects concerns over Boeing's cash flow, debt load, and ongoing operational challenges.
Source: YAHOO
Reported about 1 month ago
Galderma's private equity backers are set to sell a $1.2 billion stake in the skincare company after a successful initial public offering, which saw shares rise by 52% since March. The sale, representing a 5.5% stake, is being coordinated by major investment banks, and there is strong demand from investors. This follows a broader trend of private equity firms offloading stakes in European companies after notable IPO performances.
Source: YAHOO
Reported about 1 month ago
Source: INVESTORS
Reported about 1 month ago
Airbnb is urging New York City to ease stringent regulations under Local Law 18 for short-term rental hosts, which mandates licensing through the Office of Special Enforcement. Concurrently, hotel workers from major chains like Hilton, Marriott, and Hyatt are staging nationwide strikes organized by the Unite Here union, demanding better working conditions and wage increases. Additionally, Cathay Pacific is facing flight cancellations due to component issues in Rolls-Royce engines.
Source: YAHOO
Reported about 1 month ago
Intel has introduced its new Core Ultra 200V series of mobile processors, designed to enhance performance and battery life to compete against Qualcomm and AMD in the laptop market. The new chips promise up to 50% less power consumption and improved productivity, boasting 20.1 hours of battery life on tasks such as Microsoft Office usage. With integrated AI capabilities and competitive gaming performance, Intel aims to regain ground in the face of increasing competition and market share challenges.
Source: YAHOO
Reported about 1 month ago
Cathay Pacific has canceled nearly 70 flights this week after an engine malfunction on a flight to Zurich forced it to return to Hong Kong. The airline discovered faulty parts in 15 of its Airbus A350s, all equipped with Rolls-Royce Trent XWB-97 engines. Rolls-Royce is cooperating with both Cathay Pacific and aviation authorities in addressing the issue and has secured spare parts for replacements. Disruptions are expected to continue until at least Saturday.
Source: YAHOO
Reported about 1 month ago
A recent study by Fidelity reveals that millennials and Gen Z are lagging in their retirement savings, with average 401(k) balances significantly lower than older generations. Experts suggest that younger workers focus on building emergency savings, eliminating high-interest debt, and maximizing retirement contributions. The acronym S.T.A.S.H. emphasizes saving smartly and having fun while planning for the future. The article also addresses common questions about retirement accounts, including Roth IRA conversions and withdrawal rules.
Source: YAHOO
Reported about 1 month ago
Nvidia has seen phenomenal growth, with a stock increase of 141% in 2024 and a 25,580% rise over the last decade. Looking ahead, predictions suggest CEO Jensen Huang may transition to a different role and Nvidia will maintain its dominance in the AI chip market. The company is expected to benefit from the approaching legality of autonomous vehicles in the U.S. and may surprise investors with innovative technologies that emerge. Overall, Nvidia's stock is likely to outperform the market, despite the unpredictability of future economic conditions.
Source: YAHOO
Reported about 1 month ago
Raw sugar futures continue to climb following predictions of increased global deficits attributed to fires in Brazil that have devastated sugarcane crops. Analysts foresee a shortfall of 600,000 tons for the 2024/25 season due to adverse weather impacting cane quality and production capacity, exacerbating the supply chain challenges in the sugar market.
Source: YAHOO
Reported about 1 month ago
Wells Fargo has announced that Boeing's target for annual free cash flow of $10 billion might be postponed until 2027-28, leading to a stock downgrade. Analyst Matthew Akers highlighted the need for Boeing to raise $30 billion to address its significant debt before commencing new aircraft development. Following this news, Boeing's shares fell over 8%, approaching a two-year low, as the company continues to recover from past crises affecting its production.
Source: YAHOO
Reported about 1 month ago
Berkshire Hathaway has sold over $6 billion worth of Bank of America shares, as part of a series of sales since mid-July, cashing in on significant gains in the stock. The conglomerate discharged approximately 21.1 million shares recently, indicating profit-taking after a strong performance by the bank's stock, which has risen over 50% since late October. Despite the sales, Berkshire remains the largest shareholder in Bank of America.
Source: YAHOO
Reported about 1 month ago
Goldman Sachs analysts advise investors to consider gold as a primary investment due to its strong performance and potential for further gains. With current gold futures priced above $2,515 per ounce and a forecasted target of $2,700 by 2025, gold is seen as a safe haven against geopolitical and financial uncertainties, especially in light of expected Federal Reserve rate cuts. Central bank purchases and recent geopolitical tensions further support this bullish outlook.
Source: YAHOO
Reported about 1 month ago
As interest rates are set to decline, investors are encouraged to consider three dividend stocks: Realty Income, Costco Wholesale, and Royal Caribbean Cruises. Realty Income is recognized for its consistent monthly dividends and resilience in various economic climates, while Costco offers stability with steady revenue despite a low dividend yield. Meanwhile, Royal Caribbean has recently reinstated its dividend and is poised for growth, making these stocks attractive options for those seeking both income and capital appreciation.
Source: YAHOO
Reported about 1 month ago
As Apple prepares for its much-anticipated iPhone 16 launch on September 9, Huawei is set to debut its own new products only hours later. This simultaneous unveiling by the two tech giants could significantly influence the competitive landscape of the smartphone market, particularly in China.
Source: YAHOO
Reported about 1 month ago
Homeowners in the U.S. currently possess $17 trillion in home equity, which Grant Cardone suggests could be invested for returns ranging from 6% to 12%, potentially generating significant passive income. While Cardone promotes the idea of utilizing this equity to enhance financial possibilities for aging homeowners, many remain cautious about the risks associated with such investments, valuing home equity as a secure asset rather than a gamble.
Source: YAHOO
Reported about 1 month ago
In response to a 54-year-old woman's query about maximizing her $12,000 savings, financial expert Suze Orman advised her to invest $8,000 in a Roth IRA, open a high-yield savings account, and pay off her car loan quickly. Orman emphasized not to utilize her employer's 401(k) due to lack of matching contributions, highlighting the importance of minimizing expenses to secure her financial future amidst increasing worries about retirement savings among those aged 50 and older.
Source: YAHOO
Reported about 1 month ago
U.S. manufacturing remains sluggish as evidenced by the August PMI, which indicates contraction with a reading of 47.2. New orders dropped and inventory levels increased, suggesting ongoing challenges for factory activity. Meanwhile, construction spending decreased by 0.3% in July, affected by higher mortgage rates and increased housing supply, leading to a slowdown in single-family homebuilding.
Source: YAHOO