Reported about 1 month ago
Boeing is reportedly looking to sell parts of its space business, including the Starliner spacecraft and operations related to the International Space Station, while excluding its Space Launch System unit. This move comes as the Starliner has faced significant delays and technical issues, contributing to over $1.8 billion in cost overruns. Additionally, Boeing is dealing with a major strike affecting its aircraft production. The company's new CEO has emphasized a strategy of focusing on quality over quantity.
Source: YAHOO
Reported about 1 month ago
SoFi Technologies (SOFI) experiences a jump in stock price after LendingClub (LC) reveals that banks are re-entering the loan market for the first time in six quarters. This news has boosted investor confidence ahead of SoFi's upcoming quarterly earnings report on October 29.
Source: YAHOO
Reported about 1 month ago
Mercedes-Benz plans to implement further cost-cutting measures to improve profitability, responding to the declining demand for European cars in China that has adversely affected the luxury automaker's earnings outlook.
Source: YAHOO
Reported about 1 month ago
Emilio Azcarraga has resigned as executive chairman of Grupo Televisa SAB in light of a US Justice Department investigation into the company's alleged bribery connected to FIFA. His resignation is effective immediately as Televisa faces potential financial repercussions from the investigation, which previously implicated the company in a 2017 corruption trial. Televisa reported a decline in third-quarter revenue and did not disclose details regarding Azcarraga's successor.
Source: YAHOO
Reported about 1 month ago
An investigation reveals that the controversial social media persona known as the 'Black Insurrectionist,' who propagated conspiracy theories surrounding the 2024 election, is actually a white man from upstate New York named Jason G. Palmer. Despite using a profile photo of a Black soldier and amassing over 300,000 followers, Palmer misrepresented his identity and has a history of questionable business practices, including accusations of fraud and drug addiction. His fabricated claims, some amplified by notable Republicans, illustrate the dangerous spread of disinformation in today’s political landscape.
Source: YAHOO
Reported about 1 month ago
As the earnings season progresses, Nancy Tengler, CEO of Laffer Tengler Investments, argues that Big Tech stocks like Tesla, Nvidia, and Apple are better investments than traditional defensive stocks, particularly amidst economic uncertainties. She expresses confidence in the performance of the 'Magnificent Seven' companies but adopts a cautious stance on Meta, advising against chasing its current success.
Source: YAHOO
Reported about 1 month ago
Bitcoin is increasingly seen as a means of achieving financial independence in the face of global economic challenges. Experts such as Kelly Kellam and Perianne Boring have highlighted its potential to counteract the inflationary pressures of the U.S. dollar, particularly as geopolitical tensions rise. At a recent Brics summit, President Vladimir Putin proposed alternatives to the dollar-centric financial systems, suggesting that blockchain technologies like the 'Brics Bridge' could eventually support transactions in cryptocurrencies like Bitcoin. The focus remains on fostering bipartisan support for cryptocurrency to ensure its stability and adoption in the global market.
Source: YAHOO
Reported about 1 month ago
As tax season approaches, taxpayers are looking for strategies to enhance their returns and reduce their tax liabilities. Wealth host Alexandra Canal provides key advice, including ways to evade penalties and identify potential tax credits that individuals may qualify for.
Source: YAHOO
Reported about 1 month ago
Spirit Airlines is planning to reduce its workforce and sell 23 planes to cut costs as it faces significant financial challenges. The budget carrier identified approximately $80 million in cost-saving measures, with layoffs expected but not detailed. The sale of the aircraft to GA Telesis for $519 million is aimed at improving liquidity amid over $2.5 billion in losses since 2020 and growing debt. Spirit's stock saw a rise recently, but it remains down over 80% from last year, with bankruptcy speculation hovering over the airline.
Source: YAHOO
Reported about 1 month ago
Septerna Inc. saw its shares rise by 19% in their market debut after raising $288 million in an expanded initial public offering. The South San Francisco-based biotech company's shares closed at $21.40, surpassing the IPO price of $18. This robust performance reflects ongoing investor interest in biotech companies, with drug developers raising a total of $3.9 billion through IPOs on US exchanges this year.
Source: YAHOO
Reported about 1 month ago
Italian energy company Eni anticipates generating €2.5 billion in net proceeds from additional asset disposals in 2025, as stated by Chief Financial Officer Francesco Gattei. This follows a recent announcement of KKR's acquisition of a 25% stake in Eni's biofuel unit, Enilive, for €2.9 billion. Eni plans to leverage these divestitures to further reduce greenhouse gas emissions and invest in high-growth potential businesses.
Source: YAHOO
Reported about 1 month ago
The U.S. FDA reports that the E. coli outbreak associated with McDonald's Quarter Pounder hamburgers has surged to 75 cases, with 22 individuals hospitalized, two of whom are facing a life-threatening condition. The outbreak has been traced back to contaminated onions supplied by Taylor Farms, leading McDonald's to temporarily halt sales of the affected burgers in numerous locations. The CDC states that the overall risk to the public remains low.
Source: YAHOO
Reported about 1 month ago
Citigroup has decided to take profits on certain trades linked to a potential victory by former President Donald Trump in the upcoming election, noting that significant price movements typically occur before elections. Despite increasing investor belief in Trump's chances against Vice President Kamala Harris, the bank's head of macro research advised locking in gains due to moderate polling bias. Citigroup has exited profitable positions that benefitted from a stronger dollar and has shifted focus towards other investment strategies while maintaining some positions tied to a Trump win.
Source: YAHOO
Reported about 1 month ago
Shares of Donald Trump’s social media company have tripled in value over the past month, reaching over $38, driven by improved sentiment regarding Trump's political prospects ahead of the upcoming presidential election. While the company still struggles with low user engagement and high price-to-sales ratios, the stock has gained momentum partly due to speculation surrounding Trump’s campaign, despite significant insider selling after a lockup period ended.
Source: YAHOO
Reported about 1 month ago
Waymo, Alphabet Inc.'s autonomous vehicle division, has successfully raised $5.6 billion in its largest funding round to date, with investment led by its parent company, Alphabet, and participation from firms such as Andreessen Horowitz and Fidelity Investments. This funding will support Waymo's continued development of self-driving technology and its expansion into new markets, including a partnership with Uber for ride services. The company currently operates in several cities and has logged over 25 million miles with its autonomous fleet.
Source: YAHOO
Reported about 1 month ago
Nvidia has surpassed Apple to become the world's most valuable company, driven by a surge in demand for its artificial intelligence chips. The company's market value briefly reached $3.53 trillion compared to Apple's $3.52 trillion, with Nvidia's stock rising 0.8% to end the day at $3.47 trillion. This marks a shift in power among tech giants as Nvidia continues to thrive amid increasing investment in AI technology, while Apple faces challenges with stagnant smartphone sales.
Source: YAHOO
Reported about 1 month ago
Following an E. coli outbreak linked to slivered onions in McDonald's Quarter Pounder, several fast-food chains, including Taco Bell and Burger King, have temporarily removed onions from their menus to avoid any potential contamination.
Source: YAHOO
Reported about 1 month ago
Waymo, Alphabet's self-driving unit, has successfully closed a $5.6 billion funding round led by its parent company to enhance its autonomous ride-hailing services. The investment aims to expand operations in cities such as San Francisco, Phoenix, Los Angeles, Austin, and Atlanta, in collaboration with Uber. Existing investors including Andreessen Horowitz and Fidelity also participated, as the sector faces skepticism and regulatory challenges while striving for commercial success.
Source: YAHOO
Reported about 1 month ago
US nuclear regulators have initiated a review of Constellation Energy's plans to restart the retired Three Mile Island nuclear power plant, which includes a proposed name change to Crane Clean Energy Center. The company is seeking to revive its Unit 1 reactor, previously shut down in 2019, following a power purchase agreement with Microsoft. With rising electricity demand, this unprecedented move could pave the way for the first restart of a retired reactor in the US, although local activists have raised safety and environmental concerns.
Source: YAHOO
Reported about 1 month ago
Microsoft is set to release its fiscal first quarter earnings on October 30, with analysts, including Nancy Tengler from Laffer Tengler Investments, closely monitoring the performance of its Azure cloud segment, margin trends, and updates on AI monetization efforts, particularly with the AI chatbot Copilot. Tengler questions whether Azure will continue to grow and the effectiveness of monetizing AI amidst ongoing criticisms.
Source: YAHOO
Reported about 1 month ago
A U.S. judge approved a $102 million settlement from shipping companies Grace Ocean and Synergy Marine, which were involved in the March collision that killed six people at Baltimore's Francis Scott Key Bridge. Although the companies deny liability, they agreed to the settlement to cover costs incurred by the U.S. government in response to the disaster. Additional claims from Maryland and affected families are pending, with the companies prepared to contest them.
Source: YAHOO
Reported about 1 month ago
Elon Musk has significantly increased his financial support for Donald Trump and the GOP, contributing a total of $56 million, including $43.6 million to his super PAC and additional donations to Senate candidates. With total expenditures exceeding $132 million this year, Musk remains a key player in Trump's campaign amid contrasting fundraising success with Kamala Harris, who has raised over $1 billion. Despite Musk's efforts, recent polls indicate his association may not help Trump as intended.
Source: YAHOO
Reported about 1 month ago
As Q3 earnings season unfolds, major tech companies like Alphabet, Microsoft, and Amazon report increased investment in AI, primarily focused on customer service and software engineering. Amid discussions around potential Federal Reserve rate cuts, there is a marked divergence between the optimism in financial markets and the challenges faced by the real economy, with consumer resilience being a significant theme. Despite higher interest rates, moderate to high-income consumers continue to drive spending, indicating that employment stability is a crucial factor in economic performance.
Source: YAHOO
Reported about 1 month ago
Elon Musk's ongoing communication with Russian President Vladimir Putin has surfaced as a topic of concern, suggesting a potential 'double-edged sword' for U.S.-Russia relations. While there are no indications of classified information being shared, worries exist over Musk potentially providing an unauthorized channel for Kremlin propaganda. National security reporter Warren Strobel notes that amidst Musk's involvement in Trump’s campaign, this relationship could either hinder or foster diplomatic dialogue between the two nuclear powers.
Source: YAHOO
Reported about 1 month ago
French dairy company Danone has ceased sourcing soy from Brazil, now opting for suppliers in Asia as the European Union prepares to implement a regulation requiring proof that imported commodities are not linked to deforestation. The company has reported its use of soy products in milk substitutes and cattle feed and aims to ensure sustainable sourcing. Competitors like Nestle have also taken similar actions, while the demand for Brazilian soy continues to rise globally despite environmental concerns.
Source: YAHOO