Reported about 1 month ago
Michael Saylor, executive chairman of MicroStrategy, humorously suggested to Microsoft CEO Satya Nadella that he can assist in developing the company's Bitcoin strategy to potentially create the next trillion-dollar opportunity. Saylor's comment follows Microsoft considering a Bitcoin investment at its December shareholder meeting, as MicroStrategy's stock surged significantly due to its Bitcoin holdings, outperforming Microsoft. As investor confidence grows, particularly with BlackRock increasing its stake in MicroStrategy, Saylor's outreach underscores the potential of Bitcoin as an institutional asset.
Source: YAHOO
Reported about 1 month ago
Stocks experienced a rise as traders prepared for upcoming US elections and corporate earnings reports, despite a drop in oil prices and a weakening yen. Crypto markets saw gains with Bitcoin rising, particularly influenced by sentiment surrounding Donald Trump's political prospects. Several major companies are expected to report earnings soon, adding to the market's volatility, while analysts suggest that the election outcome could greatly affect future market directions.
Source: YAHOO
Reported about 1 month ago
Boeing is preparing to launch a plan as early as Monday to raise over $15 billion in capital, according to a source. This move comes as the company faces financial strain due to a prolonged strike that has affected production, particularly of the 737 MAX. The capital raise will involve a combination of stock sales and convertible preferred shares, with the potential for total funds raised to increase based on market demand. Boeing recently announced significant job cuts and a $6 billion quarterly loss, further complicating its financial situation.
Source: YAHOO
Reported about 1 month ago
Tether, a leading stablecoin issuer, has dismissed allegations from the Wall Street Journal regarding an investigation by the U.S. government into potential sanctions violations and money laundering. The company stated it is unaware of any such inquiries and highlighted its collaboration with law enforcement to combat misuse of cryptocurrencies. Despite past scrutiny over its reserves, Tether's CEO affirmed that the stablecoin is fully backed by real assets, including significant holdings in U.S. treasuries, bitcoin, and gold.
Source: YAHOO
Reported about 1 month ago
Eli Lilly has received approval from the Hong Kong government to sell its weight-loss drug, tirzepatide, branded as Mounjaro, using a device called Kwikpen. The company expects to launch the drug by the end of this year, competing with Novo Nordisk in the rapidly growing weight-loss market projected to exceed $100 billion globally by the end of the decade.
Source: YAHOO
Reported about 1 month ago
China's central bank is enhancing its monetary policy toolkit with the introduction of outright reverse repurchase agreements, aimed at maintaining sufficient liquidity in the financial system. The People's Bank of China plans to conduct these agreements monthly for up to one year, leveraging sovereign bonds and corporate debt, to facilitate better market conditions. This new tool will complement existing measures and aims to manage increased bond issuance while addressing funding stress among banks. Analysts suggest that these changes may help the PBOC operate more similarly to global counterparts and better respond to upcoming economic challenges.
Source: YAHOO
Reported about 1 month ago
The yen fell 1% against the dollar, closing at around 153.66, as Japan’s stock markets rose on election outcomes that showed the ruling Liberal Democratic Party losing its majority. Despite concerns over political instability, the Nikkei 225 index gained 1.8%, reflecting investor reactions to potential continuity in leadership with Prime Minister Shigeru Ishiba's commitment to restore political stability. The weakening yen, mainly due to low interest rates in Japan, and the mixed signals from the election results, present a complex scenario for the market.
Source: YAHOO
Reported about 1 month ago
Olympus Corporation has dismissed CEO Stefan Kaufmann following an investigation into allegations of illegal drug purchases, marking a significant exit for the executive after less than two years in charge. The company's stock dropped over 7% in reaction to the news. Olympus stated that Kaufmann's behavior was inconsistent with the company's values, but further details about the allegations remain undisclosed. Meanwhile, interim leadership will be assumed by Chairman Yasuo Takeuchi. This incident highlights ongoing challenges for Olympus, which has previously faced scrutiny regarding foreign executives.
Source: YAHOO
Reported about 1 month ago
China is gradually relaxing regulations on private tutoring firms, which were heavily impacted by a crackdown three years ago. The government’s tacit support aims to rejuvenate the economy and address youth unemployment, leading to a resurgence in the tutoring industry. Although the previous strict policies are still in place, there is an increasing openness in operations. Parents continue to seek tutoring for their children amid a competitive education landscape, with many firms adapting by altering their curriculums to remain compliant.
Source: YAHOO
Reported about 1 month ago
Oil prices plummeted at the week's start following Israeli strikes on Iranian military targets that did not impact oil facilities, suggesting a potential reduction in regional tensions. West Texas Intermediate dropped 6.1% to around $67 per barrel, marking the largest decline in over two years, while Brent crude fell to below $72. The attacks anticipated by the U.S. administration were more restrained than expected, further easing market fears of supply disruptions. Despite a recent uptick in prices after Iran's missile attack earlier in October, ongoing weak demand and expected oversupply have contributed to the current price drop.
Source: YAHOO
Reported about 1 month ago
Korea Zinc's recent buyback, led by Chairman Choi Yun-beom, has acquired over 11% of the company's stock to counter a takeover bid, but the control battle remains unresolved. Despite acquiring treasury shares that lack voting rights, Choi's camp increases their stake to 39.5%, while the opposition led by Young Poong Corp. and MBK Partners together hold 42.1%. Analysts suggest uncertainty persists as minority shareholders hold 15.8%, indicating the ongoing tussle for governance at the zinc smelting giant.
Source: YAHOO
Reported about 1 month ago
The Mortgage Bankers Association (MBA) forecasts significant recovery in the mortgage market, projecting an origination volume of $2.3 trillion for 2025—an increase of 28.5% from 2024. This optimistic outlook stems from anticipated improvements in purchase originations and a gradual decline in mortgage rates. However, challenges remain, including potential impacts from budget deficits and global economic growth, which could influence interest rates and employment rates moving forward.
Source: YAHOO
Reported about 1 month ago
Global stock indexes rose on Monday as investors anticipated major tech earnings, while oil prices fell 6% following Israel's recent military actions that eased fears of a broader Middle East conflict. The Japanese yen hit a three-month low against the dollar after political turmoil ensued from election results. U.S. Treasury yields rose to a three-month high ahead of key economic data and the upcoming presidential election. Major tech firms like Alphabet, Microsoft, and Amazon are set to report earnings this week.
Source: YAHOO
Reported about 1 month ago
Political uncertainty looms over Japanese markets following the ruling Liberal Democratic Party's failure to secure a parliamentary majority for the first time since 2009. The yen has weakened, but some investors remain optimistic about Japan's corporate governance improvements. Analysts express mixed feelings about the market's future, noting potential vulnerabilities in the currency and stock sectors amidst a political landscape that may hinder decisive governance.
Source: YAHOO
Reported about 1 month ago
With the recent ruling allowing prediction markets to accept bets on U.S. elections, billions of dollars are now being wagered on the outcomes of the presidential race. Platforms like Kalshi and Polymarket are seeing a surge in users placing bets, as many view these markets as an alternative to traditional polling methods. The financial implications have drawn varied opinions on their potential impact on democracy, leading to concerns over market manipulation and the integrity of the electoral process. As the 2024 election approaches, the merging of gambling with political forecasting creates a new dynamic in how campaigns and voter preferences are perceived.
Source: YAHOO
Reported about 1 month ago
Goldman Sachs' forecast of a mere 3% annualized total return for the S&P 500 over the next decade has prompted significant pushback from experts who believe that more favorable outcomes are likely. Analysts from firms like JPMorgan Asset Management and Yardeni Research argue for much higher returns, citing improving productivity, strong profit margins, and the resilience of American corporations as key factors. While predicting market returns is inherently uncertain, many experts suggest the historical tendency for the stock market to recover and grow remains intact.
Source: YAHOO
Reported about 1 month ago
Volkswagen is contemplating significant cost-cutting measures, including a 10% wage cut and a two-year wage freeze, in an effort to save 4 billion euros amid financial pressures. Reports indicate that the automaker is also looking to cap bonuses for top employees and reduce anniversary payments while evaluating potential closures of some German production sites. Workers have expressed dissatisfaction over the lack of a clear strategic direction from management.
Source: YAHOO
Reported about 1 month ago
Sam Altman's backed nuclear power company Oklo has seen its stock price surge nearly 140% in the past month, driven by increasing interest in small modular reactors (SMRs) from Big Tech like Amazon and Google. As the demand for energy from AI data centers rises, Oklo is positioning itself in a potentially lucrative market, although analysts caution about regulatory and supply chain challenges that could hinder its growth.
Source: YAHOO
Reported about 1 month ago
The AARP Purpose Prize recently awarded seven individuals over 50 for their innovative contributions to society, highlighting how older adults are making positive changes in areas such as foster care and healthcare. Jennifer Jacobs, a nuclear engineer, co-founded Connect Our Kids to help foster care professionals reunite children with their families using technology. Another recipient, Jim Ansara, transitioned from corporate leadership to humanitarian efforts by co-founding Build Health International, which constructs medical facilities in impoverished regions. These awards showcase the impactful roles that retirees can play in addressing societal issues.
Source: YAHOO
Reported about 1 month ago
Japan's ruling Liberal Democratic Party (LDP) coalition has lost its majority in parliament for the first time since 2009, following a backlash from voters tied to political scandals. This has led to a significant rise in seats for the opposition Constitutional Democratic Party of Japan (CDP), which is now positioning itself to take over the government. Prime Minister Shigeru Ishiba faces challenges in forming a coalition amid increased political instability, while the currency value and stock market reflect growing uncertainty.
Source: YAHOO
Reported about 1 month ago
To earn $100 a month from Public Storage stock (NYSE: PSA), an investment of approximately $33,994, equating to about 100 shares at a price of $339.77 each, is needed based on a dividend yield of 3.53%. The company's quarterly earnings report is anticipated on October 30, with analysts projecting a decrease in EPS compared to the previous year, while revenues are expected to rise. Despite some competition impacts on rental income, management remains optimistic about the company's outlook.
Source: YAHOO
Reported about 1 month ago
As Yahoo Finance marks the 50th anniversary of the Equal Credit Opportunity Act, personal finance educator Jamila Souffrant highlights women's unique ability to build community and seek support. She emphasizes the significance of empowering younger women to recognize their potential and capabilities, paralleling that of men.
Source: YAHOO
Reported about 1 month ago
Former President Donald Trump has recently made at least 12 tax cut promises during his campaign, including proposals to eliminate taxes on certain incomes and extend previous tax cuts. Critics, including economists and political opponents, express skepticism over the feasibility and funding of these ideas, with some arguing they could limit tax equity and increase family burdens through tariffs. As the election approaches, Trump continues to unveil new tax proposals aimed at appealing to key voter demographics, but the practicality of these promises remains uncertain.
Source: YAHOO
Reported about 1 month ago
President Joe Biden confronted Elon Musk over a report claiming the Tesla CEO once worked illegally in the U.S. while on a student visa, arguing that Musk's wealth does not exempt him from the law. Musk denies the allegations, asserting he was allowed to work, and has been vocal about immigration issues during his campaigns supporting Republican candidates.
Source: YAHOO
Reported about 1 month ago
This article highlights three dividend stocks that investors should consider: ExxonMobil, Kenvue, and Ford. ExxonMobil, with a 3.2% yield, remains a strong income investment despite fluctuations in oil prices. Kenvue, the spin-off of Johnson & Johnson, offers a 3.7% dividend yield and has potential for long-term growth with its strong brand portfolio. Ford presents a safe dividend option with a 5.4% yield, backed by solid financials and a strong market position in the automotive industry.
Source: YAHOO