Reported about 1 month ago
Israel conducted military strikes on Iranian targets early Saturday, responding to a missile barrage from Iran. Despite claims of killing Iranian soldiers, the strikes reportedly left critical oil and nuclear facilities unharmed. The Israeli military targeted air-defense systems and missile production units, asserting greater freedom for future operations in Iran. Meanwhile, Iranian officials downplayed the impact of the strikes and emphasized that they are entitled to defend against foreign aggression. The attack escalates the already tense situation in the region, particularly against the backdrop of ongoing conflicts in Gaza and Lebanon.
Source: YAHOO
Reported about 1 month ago
New York Attorney General Letitia James is investigating the proposed $35.3 billion merger between Capital One and Discover Financial Services to determine if it violates state antitrust laws. The investigation has escalated due to Capital One's alleged lack of cooperation, prompting a request for a subpoena. The merger, which would create the largest U.S. credit card issuer, is projected to significantly affect New Yorkers with subprime credit and raises concerns about reduced competition and increased consumer costs.
Source: YAHOO
Reported about 1 month ago
China's Vice Finance Minister Liao Min announced that the country's recent stimulus efforts are designed to boost domestic demand and meet its annual GDP growth target of around 5%. He highlighted the significance of enhancing macroeconomic policies and coordinating monetary strategies to stimulate consumption, especially in light of recent economic challenges. The upcoming meeting of the National People's Congress Standing Committee, set for November, is expected to provide further clarity on the fiscal package, which has included substantial measures aimed at reviving the economy.
Source: YAHOO
Reported about 1 month ago
Microsoft has fired two employees who organized an unauthorized vigil at the company’s headquarters for Palestinians killed in Gaza during the ongoing Israel-Hamas conflict. The workers, members of the group 'No Azure for Apartheid,' claimed the vigil was intended to honor victims and highlight Microsoft's role due to its technology's use by the Israeli military. Microsoft stated the dismissals were in accordance with internal policies but did not provide further details. The firings have drawn public attention, especially as other tech companies have faced similar protests amidst the conflict.
Source: YAHOO
Reported about 1 month ago
A U.S. appeals court has ruled that the National Labor Relations Board (NLRB) unlawfully ordered Tesla CEO Elon Musk to delete a 2018 tweet suggesting that employees would lose stock options if they unionized. The 5th U.S. Circuit Court of Appeals found the tweet constitutes free speech under the First Amendment, reversing the NLRB's earlier decision which had labeled it a threat. The ruling also called for the NLRB to re-evaluate its order to reinstate a pro-union employee dismissed by Tesla.
Source: YAHOO
Reported about 1 month ago
Delta Air Lines has filed a lawsuit against cybersecurity firm CrowdStrike in Georgia, claiming that a faulty software update in July resulted in mass flight cancellations, impacting 1.3 million customers and costing the airline over $500 million. The incident led to worldwide travel disruptions and has sparked an investigation by the U.S. Transportation Department. CrowdStrike has disputed Delta's claims, suggesting the airline's struggles stem from its outdated IT infrastructure.
Source: YAHOO
Reported about 1 month ago
Delta Air Lines has filed a lawsuit against cybersecurity firm CrowdStrike, alleging that a global technology outage in July, triggered by a faulty software update, resulted in the cancellation of approximately 7,000 flights and $500 million in losses. The airline claims CrowdStrike's negligence in testing the update led to the crisis, while CrowdStrike argues that Delta is misrepresenting facts and trying to deflect blame for its operational delays. Additionally, the U.S. Department of Transportation is investigating Delta's prolonged recovery compared to other airlines and customer service complaints during the outage.
Source: YAHOO
Reported about 1 month ago
Morocco intends to loosen its currency exchange rate framework in 2026, transitioning away from the current peg to a basket of euros and US dollars, according to the central bank governor. This initiative marks a resumption of reforms that ceased during the pandemic, targeting a market-determined currency while preparing banks and regulators for the shift. Although prior attempts to reform the dirham were hindered by economic challenges, the governor emphasizes the need for additional time and support for small businesses before implementing these changes.
Source: YAHOO
Reported about 1 month ago
Investors are focusing on Chinese stocks over the US presidential election risks, anticipating increased stimulus from Beijing regardless of the election outcome. Amid ongoing trade tensions, market strategies emphasize the importance of policy measures supporting the Chinese economy, especially as the CSI 300 Index has rallied following recent stimulus efforts. Experts suggest that losses from potential election volatility could be offset by strong domestic support for Chinese stocks, particularly those listed on the mainland.
Source: YAHOO
Reported about 1 month ago
The SEC has deemed Elon Musk's offer of $2,923 inadequate for failing to appear for a scheduled deposition regarding his Twitter purchase investigation. Instead of accepting the reimbursement for the lawyers' travel expenses, the SEC is pushing for a court sanction to stress the seriousness of Musk's absence. Musk's legal team argues the court's options are limited due to his offer, but the SEC insists accountability is necessary for Musk's disregard for the court's requirements.
Source: YAHOO
Reported about 1 month ago
The FBI reported that Russian actors created a video that inaccurately shows mail-in ballots for Donald Trump being destroyed in Pennsylvania.
Source: YAHOO
Reported about 1 month ago
Cardano has partnered with BitcoinOS to enhance its DeFi ecosystem by providing access to over $1.3B in Bitcoin liquidity, enabling users to securely incorporate Bitcoin assets without intermediaries. This collaboration focuses on zero-knowledge cryptography to facilitate secure transactions through the BOS Grail bridge, which aims to enhance interoperability between chains. The initiative is seen as a significant step towards a more interconnected crypto ecosystem and could increase DeFi activity within Cardano.
Source: YAHOO
Reported about 1 month ago
Roberto Campos Neto, Brazil's central bank chief, stated that the U.S. election is impacting long-term interest rates due to inflationary concerns. He noted that market expectations are influenced by the potential victory of Republican Donald Trump, which raises apprehensions about inflation despite Brazil's government recently announcing lower energy tariffs. Campos Neto emphasized that positive fiscal developments are needed to address rising risk premiums and reiterated the central bank's commitment to its inflation target, with a policy meeting scheduled soon.
Source: YAHOO
Reported about 1 month ago
Nike, Starbucks, and Boeing, three major American brands, are facing significant challenges as they struggle with declining sales and market share. Starbucks has experienced three consecutive quarters of sales drops, leading to a suspension of its financial guidance under new CEO Brian Niccol, who seeks to revitalize the brand. Nike's revenue has also fallen due to strategic missteps and competition, prompting new CEO Elliott Hill to refocus on product appeal. Meanwhile, Boeing is grappling with ongoing strikes and substantial financial losses, as the company attempts to recover from a history of quality and safety issues. All three companies are looking to reclaim their former prestige amidst adversity.
Source: YAHOO
Reported about 1 month ago
Walmart continues to dominate the retail competition against Target, attracting higher-income shoppers while maintaining lower grocery prices. Despite Target's initiatives to cut prices and boost foot traffic, Walmart's sales increased by 4.3% in the latest quarter, compared to Target's decline of 2.0%. Walmart's e-commerce and advertising revenue are also thriving, positioning it favorably for the upcoming holiday season as consumers prioritize value.
Source: YAHOO
Reported about 1 month ago
McDonald's has removed its Quarter Pounder from select menus as it investigates an E. coli outbreak potentially linked to slivered onions. Unlike Chipotle's previous crisis, which struggled with unknown causes and a dual outbreak of E. coli and norovirus, McDonald's has quickly identified the issue and communicated a response plan. Experts believe this transparency may lessen the impact on consumer trust compared to Chipotle's experience.
Source: YAHOO
Reported about 1 month ago
As the US presidential election approaches, market volatility stemming from electoral uncertainty is a growing concern among investors. Federated Hermes strategist Linda Duessel predicts a 'contested result' between Vice President Harris and Donald Trump, reminiscent of the disputed 2000 election. Despite this uncertainty, she believes history suggests minimal impact on market performance, noting the market's resilience this election year. Duessel anticipates a necessary correction of 7-10% post-election, signaling that such adjustments could be expected.
Source: YAHOO
Reported about 1 month ago
Next week is significant for technology earnings with major players like Alphabet, Microsoft, Amazon, Meta, and Apple preparing to report their results. Brian Overby, a senior options strategist, emphasizes the speculative nature of trading options around earnings and the importance of understanding the expected market movement post-announcement. He shares insights, particularly on how to position trades for Amazon ahead of its earnings on October 31, highlighting the expected move of approximately 6.5%.
Source: YAHOO
Reported about 1 month ago
Less than two weeks before the election, The Washington Post announced it would not endorse a presidential candidate, a decision it claims aligns with its values and reflects a return to its historical practices. The move has sparked controversy within the newspaper and parallels a similar decision made by the Los Angeles Times. Critics, including former editor Martin Baron, argue that this choice undermines democracy, while the current publisher argues it respects readers' decision-making capabilities.
Source: YAHOO
Reported about 1 month ago
Carbon credits allow companies to purchase permits for emitting carbon dioxide and greenhouse gases. As the market evolves, XMC Strategies' Talal Debs discusses the potential for retail traders to invest in this sector, particularly through companies like Zefiro Methane, which focuses on mitigating methane emissions from old oil and gas wells. With a less regulated, market-centric approach in the U.S., the carbon credit market is poised for growth, presenting opportunities for individual investors.
Source: YAHOO
Reported about 1 month ago
This week is significant for the markets as major tech companies, including Alphabet, Meta, Microsoft, Apple, Amazon, and Intel, are set to release their Q3 earnings reports. Additionally, the Personal Consumption Expenditures (PCE) index, a critical inflation measure for the Federal Reserve, will be released on October 31, followed by the Jobs Report on Friday, which may impact market sentiment and Fed policy.
Source: YAHOO
Reported about 1 month ago
Microsoft is recommending shareholders vote against a proposal to invest in Bitcoin, suggesting that its management already effectively diversifies assets to combat inflation. The proposal, presented by a conservative think tank, claims Bitcoin could be a valuable inflation hedge, but Microsoft emphasizes its existing evaluation processes and the appropriateness of its current investment strategies.
Source: YAHOO
Reported about 1 month ago
As Treasury yields continue their upward trajectory, the 10-year Treasury yield has surged past 4.2%. While this might seem alarming, experts, including Horizon Investments' Zachary Hill, suggest that increasing yields could actually be beneficial for equity markets. This contrasts with the Citi US Economic Surprise Index's performance, providing insights into the current market dynamics.
Source: YAHOO
Reported about 1 month ago
Walmart is outperforming Target this year, with its stock skyrocketing 57% compared to Target's mere 6% increase. The competition for consumer spending between these retail giants has intensified, and insights shared by Yahoo Finance highlight how Walmart's strategies have helped it gain a significant advantage over Target.
Source: YAHOO
Reported about 1 month ago
In the latest earnings report, LendingClub announced that bank partners are starting to re-enter the loan marketplace, marking the first such return in six quarters. This development is seen as a positive sign for companies like SoFi Technologies and Affirm. BTIG's Managing Director, Vincent Caintic, shares insights on the fintech sector's current landscape and important macroeconomic factors, including consumer strength, in a recent discussion hosted by Yahoo Finance.
Source: YAHOO