Reported 2 days ago
As President-elect Trump considers his picks for Treasury secretary, Kevin Warsh, a former Federal Reserve board member, garners support in the bond market, signaling optimism among investors. With a background in economics and extensive experience during the financial crisis, Warsh's potential nomination could ease concerns about the Treasury's management of government debt. However, his established views on trade may clash with Trump's protectionist agenda. If nominated, Warsh would play a crucial role in shaping economic policies during Trump's administration.
Source: YAHOO
Reported 2 days ago
The Biden administration has officially begun calling Edmundo González Urrutia the president-elect of Venezuela, acknowledging his victory in July's presidential election over Nicolás Maduro. This designation marks the strongest stance yet from the US, which aims to exert pressure on Maduro. While the US previously indicated that González had more votes, it refrained from labeling him as president-elect until now. González fled to Spain, claiming coercion to declare Maduro the winner but intends to return to be sworn in, though this appears unlikely given Maduro's hold on power.
Source: YAHOO
Reported 2 days ago
Tim Gunn, known for his work on Project Runway, shares his insights on achieving financial discipline during an interview on Living Not So Fabulously. Drawing from his personal battle with debt, he emphasizes the importance of restraint in spending, warning against the fleeting satisfaction of purchases and the long-term consequences of credit card debt. He encourages listeners to prioritize financial freedom and discipline over impulsive spending.
Source: YAHOO
Reported 2 days ago
According to Barclays, the Federal Reserve’s Standing Repo Facility (SRF) is inadequate for addressing upcoming funding market volatility unless significant changes are made. The SRF, which allows banks and primary dealers to borrow overnight against Treasury and agency debt, has demonstrated its limitations, especially during liquidity crunches, as evidenced by recent trading activity. Barclays suggests that modifications are necessary to enhance the SRF's effectiveness in redistributing funding amidst market pressures, as current conditions make it seem like the repo market could be on its own during turbulent times.
Source: YAHOO
Reported 2 days ago
Dan Lewis, co-founder and former CEO of Convoy, reflected on the rapid rise and ultimate decline of the digital freight brokerage during a discussion at FreightWaves’ F3: Future of Freight Festival. He acknowledged the challenges faced by the company, which went from a $3.8 billion valuation in 2022 to shutting down by late 2023, attributing part of the downfall to costly decisions and missed opportunities to adapt to market changes. Despite the struggles, Lewis expressed pride in Convoy's impact on the industry and its legacy of innovation.
Source: YAHOO
Reported 2 days ago
President-elect Donald Trump has nominated Howard Lutnick, the billionaire head of Cantor Fitzgerald and a proponent of tariffs, as his commerce secretary. Lutnick's role will involve leading trade agenda and enforcing tariffs, reflecting Trump's commitment to protect American workers. His nomination follows calls within Trump's circle to replace the initial frontrunner for treasury and emphasizes Lutnick's influence in the upcoming administration.
Source: YAHOO
Reported 2 days ago
A U.S. Senate Judiciary subcommittee chair emphasized that President-elect Donald Trump cannot bypass a law compelling TikTok's parent company, ByteDance, to divest the app used by 170 million Americans by early next year. Senator Richard Blumenthal noted that Congress passed this divestiture law in April, with a potential one-time extension available from President Biden. Blumenthal reinforced that any attempts to change the law would face strong public sentiment against TikTok's presence.
Source: YAHOO
Reported 2 days ago
US stocks closed mixed with the Nasdaq rising over 1%, driven by Nvidia's strong performance ahead of its earnings report, while the Dow Jones fell about 0.3%. Investors navigated concerns over a potential nuclear escalation in the Russia-Ukraine conflict, as President Putin signed a revised nuclear doctrine. The S&P 500 managed to gain 0.4% despite earlier losses, while gold prices climbed alongside other safe-haven assets amidst the geopolitical uncertainty.
Source: YAHOO
Reported 2 days ago
花旗集团和圣坦德银行正在筹备一项高达40亿欧元（约合42亿美元）的债务，以支持西班牙废物管理公司Urbaser的潜在出售。两家银行不仅在该收购过程中提供咨询服务，还向潜在买家提供融资支持。随着市场风险偏好的恢复，银行们开始主动进攻，希望通过充足的融资吸引买家，而Urbaser则是在2025年启动的杠杆融资收购的最新一例。在融资方案中，预计将包含21亿至25亿欧元的已融资债务，外加15亿欧元的未融资债务。预计很快将会有收购者的名单浮出水面。
Source: YAHOO
Reported 2 days ago
Bitcoin prices soared past $93,800 on Tuesday, fueled by post-election enthusiasm and President-elect Trump's promises of crypto-friendly policies. This surge follows a period of stability around $91,000, as the Bitcoin market continues to benefit from significant investment inflows, particularly into spot ETFs. Additionally, Trump Media & Technology Group is reportedly in talks to acquire Bakkt, potentially boosting the crypto sector further.
Source: YAHOO
Reported 2 days ago
Entrepreneur Rachel Rodgers, founder of Hello Seven, shares seven transformative daily actions to foster financial empowerment and generational wealth. These practices include engaging in money-making activities, prioritizing physical movement, connecting with supportive networks, delegating tasks, adopting a millionaire mindset, maintaining daily financial awareness, and setting clear financial boundaries.
Source: YAHOO
Reported 2 days ago
Nvidia's stock rose over 4% as Wall Street analysts highlight strong demand for its chips ahead of its earnings report. Analysts from Stifel and Truist have increased their price targets, citing ongoing substantial investments in AI infrastructure. Despite some concerns regarding Blackwell chip overheating issues and potential demand reductions in China, optimism remains high regarding Nvidia's future growth in AI and associated markets, with a majority of analysts recommending the stock.
Source: YAHOO
Reported 2 days ago
Recent third-quarter results from growth stocks PLTR, MNDY, and SOFI indicate they are navigating a challenging economic environment with varying degrees of success. Palantir Technologies has shown significant revenue growth but faces skepticism from analysts regarding its high valuation. Monday.com impressed with its results but experienced a drop in shares due to conservative future guidance, earning a Strong Buy consensus. Meanwhile, SoFi Technologies reported a revenue increase and a shift towards more profitable strategies, yet analysts maintain a cautious outlook on its short-term valuation. Overall, analysts favor Monday.com as the most attractive investment among the three.
Source: YAHOO
Reported 2 days ago
Santander has launched its digital bank, Openbank, in Mexico, featuring a website and app to cater to the growing demand for fintech services among unbanked individuals and those dissatisfied with traditional banking services. Openbank, already operational in several European countries, aims to capture market share in Mexico by offering competitive products, including a savings account with a 12.5% annual return. The bank plans to introduce additional services in the coming months.
Source: YAHOO
Reported 2 days ago
Joanna Smith-Griffin, founder of ALLHere Education Inc., which supplied AI chatbots to schools in Los Angeles, New York City, and Atlanta, was arrested for fraud, accused of misusing investor funds for personal expenses as her company faced bankruptcy. She faces charges including securities and wire fraud, along with identity theft, after allegedly deceiving investors to secure millions since 2020.
Source: YAHOO
Reported 2 days ago
Canada's budget watchdog, Yves Giroux, indicates that the Trudeau government has likely surpassed its own fiscal limit by running a projected deficit of C$46.8 billion for 2023-24, deviating from the C$40 billion target outlined by Finance Minister Chrystia Freeland. The delay in releasing final fiscal numbers has raised concerns about transparency and accountability in budgeting, with implications for the government's credibility as it faces electoral pressures amidst rising affordability concerns among voters.
Source: YAHOO
Reported 2 days ago
Promise, a new studio supported by Andreessen Horowitz and Peter Chernin, announced its plans to produce films and series using generative AI tools. Founded by industry veterans including Fullscreen CEO George Strompolos, the startup aims to leverage AI to enhance content creation efficiency and reduce costs. It is developing a production software named Muse to integrate AI into the filmmaking process, signaling a shift in Hollywood's approach to content generation.
Source: YAHOO
Reported 2 days ago
Takahiro Mori, Vice President of Nippon Steel, is set to meet with Pennsylvania Governor Josh Shapiro to discuss the potential benefits of Nippon Steel's $14.1 billion acquisition of United States Steel Corp. The meeting will focus on the promises made to the United Steelworkers regarding job creation and investments in Pittsburgh’s plants. This encounter is crucial as Governor Shapiro has a close relationship with President Biden, who opposes the takeover, yet has not taken a public stance himself.
Source: YAHOO
Reported 2 days ago
New Fortress Energy Inc., led by billionaire Wes Edens, has hired Lazard and Intrepid Financial Partners to consider selling some of its liquefied natural gas assets as it faces looming debt issues and project delays. With long-term debt hitting approximately $8 billion, the company is looking for partnerships to stabilize its finances and ensure its operations can continue.
Source: YAHOO
Reported 2 days ago
Salesforce Inc. plans layoffs at Own, the data management startup it acquired for approximately $2 billion, as part of its strategy shift following a period of rapid expansion. The company informed Own employees that some roles will not be needed post-harmonization, with the end date set for January 31. Salesforce aims to adopt a more prudent approach to acquisitions and workforce management after facing scrutiny from activist investors.
Source: YAHOO
Reported 2 days ago
Harry Potter fans are excited about a new attraction titled 'Harry Potter and the Battle at the Ministry,' which will be set in the British Ministry of Magic. Scheduled to open on May 22 as part of Universal's Epic Universe park, this ride will take visitors through the wizarding government's restricted areas, starting in a large atrium and including an office of the film series' character Dolores Umbridge. The new park will also feature areas inspired by Super Nintendo and 'How to Train Your Dragon.'
Source: YAHOO
Reported 2 days ago
Cathie Wood of Ark Invest has set high price targets for Bitcoin, suggesting it could reach up to $3.8 million by 2030. If her projections hold true, a $100 investment in Bitcoin today could grow significantly, ranging from approximately $290 in a bear scenario to over $4,250 in a bullish case. Wood believes the approval of Bitcoin ETFs will catalyze institutional investment, further supporting the cryptocurrency's growth.
Source: YAHOO
Reported 2 days ago
Grifols SA's board has advised shareholders not to accept Brookfield Asset Management's offer, which values the company at €6.45 billion, arguing it underestimates their prospects and long-term potential. The Grifols family and Brookfield have been negotiating to take the company private since July, but Brookfield's proposal has faced pushback from investors who are concerned about the company's valuation and have called for more representation in the board.
Source: YAHOO
Reported 2 days ago
The fascination with 'old money' has captivated Gen Z, leading to discussions about its contrast with 'new money.' Keith Bloomfield, CEO of FFT, explains that old money is typically inherited and managed through trusts aimed at preserving wealth over generations, while new money is often self-made, with individuals investing in alternative assets for faster capital growth. The rise of social media has changed financial strategies, emphasizing the importance of educating future generations about responsible wealth management.
Source: YAHOO
Reported 2 days ago
Shares of Intuit and H&R Block fell following reports that discussions were underway for a new mobile app allowing Americans to file taxes for free, linked to the 'DOGE' initiative by Trump's government efficiency team. This development comes as the IRS is piloting a similar program, raising concerns about potential revenue losses for these tax preparation giants. Analysts suggest that despite investor worries, such initiatives may not significantly impact Intuit’s growth due to logistical challenges.
Source: YAHOO