Reported about 1 month ago
Qantas Airways has expressed that it is not against Qatar Airways acquiring a 25% stake in Virgin Australia, as it prepares to compete in the market. Qantas' chair and CEO emphasized the proposal will be regulated with consideration for Australian jobs and the aviation framework. Despite earlier opposition to Qatar increasing flights to Australia, Qantas welcomes foreign investment and competition, while Virgin Australia seeks to commence flights to Doha under a wet leasing agreement with Qatar Airways.
Source: YAHOO
Reported about 1 month ago
Defaults in China's local debt market have reached a record high, totaling approximately $800 billion, affecting investors who believed these debts were implicitly guaranteed by the state. Despite the government's efforts to support local financing through bond issuance, non-standard products tied to local government financing vehicles (LGFVs) have seen a significant increase in defaults, frustrating retail investors who have seen their savings vanish. While there is potential for future support through new bond issuances, the outlook remains uncertain and many retail investors are left desperate for assistance.
Source: YAHOO
Reported about 1 month ago
Western sanctions on Russia's zinc miner Ozernoye have hindered its ability to replace crucial equipment needed for increasing production, leading to concerns about potential shortages of mined zinc in 2025. Despite plans to reach full operational capacity, ongoing issues with obtaining necessary components have left the mine unable to produce concentrates, impacting global zinc supply forecasts and contributing to a rise in zinc prices.
Source: YAHOO
Reported about 1 month ago
Chinese autonomous vehicle company WeRide Inc. has successfully raised $440.5 million through its US initial public offering (IPO) and private placements. The IPO, initially priced at the lower end of its range, was upsized to 7.74 million American depositary shares. WeRide is now set to trade on Nasdaq under the symbol WRD, marking a significant moment for Chinese companies in US markets, especially following previous delays and regulatory hurdles.
Source: YAHOO
Reported about 1 month ago
President Xi Jinping's recent economic stimulus package has not impressed global leaders in Washington, with calls for clearer policies and additional measures to improve China's economic growth. Central bank officials and finance ministers expressed concerns over the lack of clarity in the fiscal plan and emphasized the need for reforms to bolster domestic consumption. As China awaits critical legislative meetings to discuss potential new stimulus, officials were notably reserved during discussions, raising questions about the effectiveness of the measures announced so far.
Source: YAHOO
Reported about 1 month ago
Meta Platforms Inc., Google, TikTok, and Snap are facing lawsuits from school districts claiming their 'addictive' apps contribute to a mental health crisis among students. A recent ruling by US District Judge Yvonne Gonzalez Rogers allows the lawsuits to proceed, rejecting many dismissal requests but limiting the scope of some allegations. The ruling highlights the plaintiffs' claims that these companies intentionally designed their platforms to encourage compulsive use among youth, drawing parallels to harmful products like cigarettes. The companies have denied wrongdoing and asserted their commitment to user safety.
Source: YAHOO
Reported about 1 month ago
The dollar has dipped slightly amid signs of stabilizing U.S. interest rates, while Japan's yen faces uncertainty ahead of a critical election that could impact the country's monetary policies. Recent positive economic data in the U.S. has contributed to a rise in Treasury yields and provided the dollar with support, as market expectations for Federal Reserve rate cuts have lessened. Meanwhile, upcoming elections in Japan may disrupt the Bank of Japan's strategies, particularly as inflation in Tokyo falters.
Source: YAHOO
Reported about 1 month ago
Rigaku Holdings Corp., backed by Carlyle Group Inc., saw its shares fall 10% on debut, closing at ¥1,130 after opening at ¥1,205, despite raising over ¥112 billion in its IPO. Analysts attribute the decline to volatility in the chip-related sector and weak market sentiment ahead of a general election, although there is potential for a re-evaluation if the semiconductor manufacturing outlook improves.
Source: YAHOO
Reported about 1 month ago
Amazon Prime has added a new benefit allowing members to save 10 cents per gallon on gasoline at select BP, Amoco, and AM/PM stations across the U.S., potentially saving nearly $70 annually. This move is part of Amazon's strategy to enhance its membership perks to stay competitive with rivals like Walmart+. While the initiative aims to solidify customer loyalty, challenges such as price perception and benefit utilization persist.
Source: YAHOO
Reported about 1 month ago
In a recent episode of Financial Freestyle, CNN commentator Van Jones shared his perspective on artificial intelligence, describing it as a beneficial tool rather than a threat. He likened AI to a 'jet pack' that enhances productivity in tasks like research and music creation. Despite acknowledging the fears some people harbor about AI potentially being harmful, Jones stressed the importance of approaching the future with a positive mindset focused on faith, vision, and purpose.
Source: YAHOO
Reported about 1 month ago
Tesla (TSLA) showcased a record-breaking performance despite a mixed third quarter, with year-to-date stock growth of 4.8%. Yahoo Finance anchor Julie Hyman discusses the company's earnings, which reflect improvements in performance compared to earlier this year. Anticipation around advancements in AI and autonomous driving, highlighted by Elon Musk, suggests that investors are increasingly valuing Tesla based on future potential rather than current performance.
Source: YAHOO
Reported about 1 month ago
In a discussion on Market Domination Overtime, Simplify Asset Management's chief strategist Michael Green highlighted the contrasting outlooks between institutional and retail investors. While Goldman Sachs projects a slowdown in the S&P 500's annual nominal return to around 3% over the next decade, retail investors are increasingly optimistic, expecting returns as high as 8-10%. This divergence in expectations suggests a fundamental difference in market sentiment between these two groups, potentially influencing market dynamics.
Source: YAHOO
Reported about 1 month ago
As artificial intelligence evolves, the threat of its misuse for scams increases. Pat Kinsel, CEO of Proof, explains how their identity authorization network assists consumers in securing digital transactions. The company has pioneered online notarization and offers various products to help verify identities for transactions. Kinsel highlights their focus on scaling existing clients while maintaining company privacy, with a potential IPO on the horizon around 2027.
Source: YAHOO
Reported about 1 month ago
Mortgage rates have increased for the fourth consecutive week, reaching 6.54% for a 30-year fixed mortgage, while existing home sales hit a 14-year low. Chief economist Danielle Hale notes that many consumers were caught off guard by the rising rates, which are influenced by recent job market trends. As a result, new homebuyers are withdrawing from the market, leading to resilient home prices that are unlikely to drop significantly without increased construction.
Source: YAHOO
Reported about 1 month ago
Recent polls reveal that Donald Trump is edging ahead of Kamala Harris in the race for the presidency, with the Wall Street Journal indicating a 2% lead. While Trump garners 47% support compared to Harris's 45%, both candidates remain within the margin of error, signaling a very tight race. Public perception of Harris is declining, particularly regarding her performance as vice president, with a growing number of voters viewing her unfavorably. Conversely, Trump's approval ratings are improving. Harris maintains a slight advantage in some key swing states, but overall, the competition remains fierce as the election approaches.
Source: YAHOO
Reported about 1 month ago
Private market investing is gaining traction as investors seek diversification in their portfolios, driven by a greater appetite for previously public companies that are now private. Kunal Kapoor, CEO of Morningstar, highlighted the significant growth in private credit markets, primarily sourced from nontraditional lenders, while also noting the associated risks like lower liquidity and complex taxation. Despite these challenges, advancements in investment vehicles are making private market investments more accessible to both retail investors and money managers.
Source: YAHOO
Reported about 1 month ago
Tesla's shares surged by 20% following strong earnings, contributing to a boost in the Nasdaq and S&P 500 indexes, while the Dow Jones closed lower. Market expert Josh Schafer discusses insights from the day's trading, highlighting positive indicators for the U.S. economy through recent jobless claims and business activity data.
Source: YAHOO
Reported about 1 month ago
The owner and operator of the cargo ship responsible for the Baltimore bridge collapse have agreed to pay over $102 million to settle a U.S. lawsuit focused on cleanup costs. However, this settlement does not cover bridge reconstruction damages, which could reach nearly $2 billion. The Justice Department's lawsuit claims inadequate maintenance led to the ship losing power and crashing into the bridge, resulting in the deaths of six men and significant environmental impact. Both companies deny liability but have agreed to cover the cleanup expenses.
Source: YAHOO
Reported about 1 month ago
TKO is acquiring Professional Bull Riders (PBR) from Endeavor, marking a significant move in the multibillion-dollar sports industry. Analysts discussed this acquisition, alongside other notable trends like the WNBA's decision to opt-out of their collective bargaining agreement. This acquisition represents TKO's strategy to expand its portfolio in sports entertainment.
Source: YAHOO
Reported about 1 month ago
In a recent discussion, Interactive Brokers chief strategist Steve Sosnick identified three key risks that could jeopardize the ongoing market bull run. The first two revolve around the upcoming US presidential election, with potential implications from the tax policies of Donald Trump and Kamala Harris. The third risk concerns the high earnings growth expectations set for the next year, which may not align with actual economic conditions or interest rate decisions. Sosnick emphasizes the need for the market to navigate these uncertainties carefully.
Source: YAHOO
Reported about 1 month ago
McDonald's has identified fresh onions from California's Taylor Farms as the source of a deadly E. coli outbreak affecting its restaurants, resulting in the removal of certain menu items, including Quarter Pounder hamburgers, in several states. The outbreak has sickened at least 49 people and led to one death, prompting precautionary measures by other fast-food chains to halt onion use. The FDA is investigating while affected onions have been recalled for potential contamination. Symptoms of E. coli infection can appear rapidly and are particularly dangerous for vulnerable populations.
Source: YAHOO
Reported about 1 month ago
Source: INVESTORS
Reported about 1 month ago
Capri Holdings, the parent company of Michael Kors and Jimmy Choo, experienced a 47% drop in stock price after a US judge halted its proposed $8.5 billion acquisition by Tapestry, citing antitrust concerns. The merger was expected to combine six major fashion brands, but the ruling by Judge Jennifer Rochon emphasized the potential reduction in competition in the accessible-luxury handbag market. Tapestry plans to appeal the decision as the FTC continues its proceedings.
Source: YAHOO
Reported about 1 month ago
Capri Holdings saw its stock tumble nearly 47% after a U.S. judge halted its $8.5 billion acquisition by Tapestry, citing antitrust concerns that the merger would reduce competition in the accessible-luxury handbag market. Tapestry plans to appeal the decision amid the Federal Trade Commission's ongoing investigation, arguing that the merger is essential for competing against European brands.
Source: YAHOO
Reported about 1 month ago
Source: INVESTORS