Reported about 1 month ago
The Mexican peso suffered significant losses following the approval of President Lopez Obrador's plans to overhaul the judiciary by a congressional committee, which investors fear will threaten the rule of law. The proposed changes, aimed at combating corruption, would alter how federal judges are selected, raising concerns about judicial independence. As a result, the peso dropped 1.4% to $19.68, marking its lowest value in three weeks and prompting investment firms to reassess their positions on Mexican assets.
Source: YAHOO
Reported about 1 month ago
Leonard Riggio, the former chairman of Barnes & Noble and a significant figure in modern bookselling, has passed away at the age of 83, as confirmed by his family.
Source: YAHOO
Reported about 1 month ago
Salesforce (CRM) is set to report its fiscal 2025 results soon, and analysts are scrutinizing its AI initiatives. Rishi Jaluria from RBC Capital Markets expressed concerns about the company's AI performance, stating it has been 'disappointing' and that Salesforce needs to demonstrate genuine innovation in AI, beyond merely treating it as an added feature.
Source: YAHOO
Reported about 1 month ago
Meta Platforms will close its augmented reality studio, Meta Spark, which enabled third-party creators to develop custom effects for Instagram and Facebook, effective January 14. This shift is part of the company's strategy to focus on AI and metaverse investments. Creators have expressed disappointment and are seeking alternative platforms as their AR effects and files will no longer be accessible, though first-party effects remain available.
Source: YAHOO
Reported about 1 month ago
In June, US home prices hit all-time highs, although the rate of increase has started to slow down. Yahoo Finance's Senior Housing Reporter, Dani Romero, provides analysis of the recent S&P Case-Shiller National Home Price Index data and discusses how homebuyers are adjusting to these elevated price levels.
Source: YAHOO
Reported about 1 month ago
Exxon Mobil Corp. is seeking to divest a package of conventional oil assets in the Permian Basin worth around $1 billion, as it shifts focus to increasing shale production following its acquisition of Pioneer Natural Resources. The assets, which include older wells producing stable oil quantities, are being marketed despite a dependence on oil prices. The company's global production is projected to reach a decade-high of 4.3 million barrels per day this year.
Source: YAHOO
Reported about 1 month ago
Boeing's stock has plunged over 30% this year, but experts like Thomas Hayes believe the appointment of new CEO Kelly Ortberg, an engineer by training, will be beneficial for the company. Hayes emphasizes that Ortberg's engineering background is vital in addressing the mechanical and safety challenges Boeing has faced, suggesting that his leadership could steer the company towards recovery in a market with a long backlog of orders.
Source: YAHOO
Reported about 1 month ago
Source: INVESTORS
Reported about 1 month ago
Global alcohol giant Diageo Plc has successfully raised €1.9 billion in new long-dated euro debt as part of a significant corporate bond offering, marking a notable increase in issuance in Europe's primary market. The three-part offering includes maturities of six and a half years, 11 years, and 20 years, amidst a backdrop of declining interest rates globally. Despite strong overall demand, the interest for the longer maturities was less pronounced compared to shorter ones, highlighting shifting investor preferences.
Source: YAHOO
Reported about 1 month ago
France's leftist coalition has condemned President Emmanuel Macron for rejecting their candidate for prime minister, claiming it undermines democracy following an inconclusive election. Macron, asserting his authority, refused the nomination, citing a lack of parliamentary support for a left-wing government. The situation has sparked calls for protests and highlighted divisions within the leftist coalition regarding their response to Macron's decision.
Source: YAHOO
Reported about 1 month ago
The recent federal court ruling against the Venu Sports streaming service, a joint venture among ESPN, Fox, and Warner Bros. Discovery, has cast doubt on its launch and the future of sports streaming options for consumers. The ruling raises significant antitrust concerns and suggests a potential shift in how networks bundle sports programming, as the industry grapples with competition from various platforms and user-generated content. Legal proceedings regarding this case are expected to continue, impacting the overall landscape of sports media rights and consumer choices.
Source: YAHOO
Reported about 1 month ago
A cybersecurity firm, Lumen Technologies, reported that a Chinese hacking group exploited a previously unknown vulnerability in the Versa Director software to compromise several internet companies in the US and abroad. The hacking campaign, associated with a group nicknamed 'Volt Typhoon', reportedly began as early as June 12 and aims to surveil the customers of the targeted companies. Despite the ongoing allegations, the Chinese government has consistently denied any involvement in cyber espionage.
Source: YAHOO
Reported about 1 month ago
Treasury yields are rising as investors await the upcoming Personal Consumption Expenditure (PCE) index. WisdomTree's Kevin Flanagan notes that the Federal Reserve's planned interest rate cuts, which could begin at unprecedented levels, will heavily influence fixed income investments. He emphasizes the need for data-driven decisions, pointing out that the labor market is cooling but not drastically declining, suggesting the fixed income market may be overreacting.
Source: YAHOO
Reported about 1 month ago
Italian Prime Minister Giorgia Meloni is working to address a €12 billion budget deficit through cost-cutting measures and delayed retirements. The coalition faces the challenge of securing about €25 billion for the 2025 budget, amid rising tensions within the government as partners grapple over tax cuts and spending commitments. With a fiscal plan due by mid-September, Meloni's administration must balance voter promises with fiscal responsibility to appease both the EU and internal coalition partners.
Source: YAHOO
Reported about 1 month ago
BBVA's Colombian unit has successfully issued ordinary shares worth 877 billion pesos (approximately $218 million) through the Colombian stock exchange. The initial tranche included 3.24 billion shares priced at 270 pesos each, with an additional 152.7 million shares expected to be issued later. The funds raised will be used to bolster capital for growth in the region.
Source: YAHOO
Reported about 1 month ago
Bargain seekers are finding appealing options in the municipal bond market, with underwriters offering competitive terms as they aim to attract investors. Current yields on state and local government bonds are at their lowest since late 2023, with significant bond sales expected ahead of the presidential election. Analysts from JPMorgan foresee the next two months as potentially the best time to purchase bonds this year, noting that recent municipal deals have been well-received due to their attractive pricing.
Source: YAHOO
Reported about 1 month ago
Traders anticipate that Nvidia's upcoming earnings report could lead to a historic $300 billion swing in the company’s shares, with options pricing indicating a potential 9.8% move. This would mark the largest expected earnings move for any company in history, significantly impacting the broader market, where Nvidia has already contributed substantially to the S&P 500's gains this year. The high volatility and investor sentiment around artificial intelligence developments are driving these expectations.
Source: YAHOO
Reported about 1 month ago
The Bank of Montreal's shares fell 6.9% after the bank reported lower-than-expected earnings and higher provisions for credit losses linked to its commercial loans. BMO's adjusted profit of C$2.64 per share missed analysts' estimates and the bank anticipates ongoing challenges in credit performance due to exposure in sectors like commercial real estate and manufacturing. Analysts are concerned that these issues will continue to negatively impact the bank's earnings.
Source: YAHOO
Reported about 1 month ago
As Wall Street anticipates an interest rate cut from the Federal Reserve, strategist Thomas Hayes advises investors to prepare their portfolios for potential volatility. He notes that previous trends indicate the weeks following the Fed's first cut typically see reduced volatility, despite upcoming election-related market fluctuations. Hayes emphasizes that now is the time for investors to seize opportunities as markets respond to upcoming earnings reports.
Source: YAHOO
Reported about 1 month ago
Following a significant work stoppage that halted most of Canada's rail network, operations resumed for Canadian National and Canadian Pacific Kansas City after a labor dispute was sent to binding arbitration. Although labor disruptions are barred during this arbitration, the Teamsters Canada Rail Conference plans to challenge the government's decision in court, leaving the timeline for new contracts uncertain. The situation has highlighted Prime Minister Trudeau's difficult balancing act between labor support and protecting the economy, especially as the country's supply chain waits to recover from the disruptions.
Source: YAHOO
Reported about 1 month ago
Consumer confidence in the U.S. has surged to a six-month high due to improved economic outlooks, despite growing anxiety over the labor market as unemployment rises to near three-year highs. While inflation expectations have fallen, leading to anticipated interest rate cuts by the Federal Reserve, consumers remain cautious about future job availability and their income prospects, suggesting potential shifts in spending behavior.
Source: YAHOO
Reported about 1 month ago
Wall Street's main indices experienced little movement as investors remained cautious ahead of Nvidia's earnings report and important economic data. The S&P 500 and Nasdaq traded in a tight range, with Nvidia's shares gaining moderately despite initial losses. Analysts anticipate Nvidia's revenue to have more than doubled, while market sentiment is also influenced by the potential for interest rate cuts by the Federal Reserve. Despite tech stocks showing slight gains, overall trading was characterized by a mix of declines in consumer discretionary stocks and uncertainty about future economic conditions.
Source: YAHOO
Reported about 1 month ago
Cerebras Systems has launched a new tool for AI developers that leverages its large chips, promising a more cost-effective alternative to Nvidia processors for running applications. The Sunnyvale-based company claims its Wafer Scale Engines deliver performance unmatched by traditional GPUs while maintaining high accuracy. With pricing starting at 10 cents per million tokens, Cerebras aims to capture a significant share of the growing AI inference market as it prepares for a potential public offering.
Source: YAHOO
Reported about 1 month ago
Shares of Brazilian mining company Vale increased by about 3% after the announcement of Gustavo Pimenta's appointment as the new CEO, replacing Eduardo Bartolomeo. Analysts believe that this leadership change, which aims to stabilize the company's strategy following a tumultuous succession process, will positively impact Vale's stock, which has been down 16% this year. Pimenta, who was previously the CFO, enjoys a strong reputation in the investment community and is expected to enhance investor confidence.
Source: YAHOO
Reported about 1 month ago
Source: INVESTORS