Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
A U.S. judge has ordered Rudy Giuliani to hand over a luxury New York apartment, along with jewelry and other valuable items, to two Georgia election workers who are seeking nearly $146 million in damages for defamation. Giuliani, a former personal attorney to Donald Trump, was found liable for falsely accusing Ruby Freeman and her daughter Wandrea' 'Shaye' Moss of election fraud during the 2020 presidential election. The order includes placing items into receivership for Freeman and Moss within a week as they also pursue unpaid legal fees Giuliani claims he is owed from the Trump campaign.
Source: YAHOO
Reported about 1 month ago
Chris Larsen, co-founder of Ripple, has donated more than $11.8 million to Kamala Harris' presidential campaign, emphasizing the need for a fresh Democratic approach to tech innovation, specifically in cryptocurrency. With a notable net worth of approximately $3.1 billion, Larsen's contributions align him as a key figure in the pro-Democratic sector of the digital asset industry, having also supported various political figures across the spectrum.
Source: YAHOO
Reported about 1 month ago
Starbucks has reported disappointing fiscal fourth-quarter results, with a 6% decline in same-store sales in the U.S. and a 14% drop in China, despite the popular Pumpkin Spice Latte's return. The company will suspend financial guidance for 2025 as new CEO Brian Niccol aims to address operational issues, simplify the menu, and enhance customer experience. Revenue fell 3% to $9.1 billion, missing expectations, and adjusted earnings dropped 24.5% from last year.
Source: YAHOO
Reported about 1 month ago
Mark Cuban expressed his support for JPMorgan CEO Jamie Dimon potentially becoming Treasury Secretary under Vice President Kamala Harris. In a recent interview, Cuban highlighted Dimon's capabilities, emphasizing that his involvement would signal Harris's commitment to a capitalist approach and economic growth, which are vital for addressing the deficit.
Source: YAHOO
Reported about 1 month ago
T. Rowe Price's head of fixed income, Arif Husain, predicts that long-term interest rates, particularly the yield on the 10-year U.S. Treasury note, could rise to 5% within six months despite current expectations of a rate decrease. This prediction stems from factors such as reduced yield increases on short-term Treasury bills due to Fed rate cuts, increased bond issuance to address the rising budget deficit, and the impact of the Fed's quantitative tightening policy, which has decreased the demand for Treasuries.
Source: YAHOO
Reported about 1 month ago
The U.S. banking industry, represented by two trade groups, has filed a lawsuit against new 'open banking' rules from the Consumer Financial Protection Bureau. They argue that these regulations, which aim to facilitate consumer switching between financial services providers, exceed the agency's authority and threaten the security of consumers' financial data.
Source: YAHOO
Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
During McCormick's recent investor day, CEO Brendan Foley emphasized that while consumers desire value, they are unwilling to compromise on flavor. He noted that increased grocery spending on protein and produce supports the company's growth, and highlighted their strategy of maintaining a broad product range across various price points to meet diverse consumer needs. Foley also addressed shrinkflation, asserting that McCormick has avoided reducing product sizes, focusing instead on understanding consumer preferences and preparing for new product launches.
Source: YAHOO
Reported about 1 month ago
Ryan Choi, an associate of short seller Andrew Left, has settled SEC claims regarding his role in misleading investors via tweets, potentially increasing legal pressure on Left. Choi must return $1.6 million and pay a civil penalty of $115,231, while the SEC claims Left misled investors about his trading intentions, asserting illegal trading behavior. Left, who has pleaded not guilty, argues the allegations against Choi and the SEC's claims lack validity, suggesting the government's actions distort the facts surrounding Left's trading strategies.
Source: YAHOO
Reported about 1 month ago
The FAA has introduced new regulations for electric vertical takeoff and landing (eVTOL) aircraft, a significant step towards the realization of electric 'air taxis.' Announced by FAA Administrator Mike Whitaker at an aviation convention in Las Vegas, these rules guide pilot training for a new category of aircraft that can operate in urban environments. With companies like Joby Aviation aiming to enter the market by 2025, this development marks a potential leap towards a future resembling 'flying cars.'
Source: YAHOO
Reported about 1 month ago
Colombia's congress is debating a proposal to significantly increase government transfers to regions, potentially raising national debt by 15% of GDP over the next decade. The bill aims to decentralize the economy but has raised concerns from economists and policymakers, warning it could pose risks to macroeconomic stability. If passed, it may be challenged in the constitutional court due to its fiscal unsustainability.
Source: YAHOO
Reported about 1 month ago
Starbucks Corporation's shares dropped as it reported a 7% decline in same-store sales for the fourth quarter, marking the third straight quarter of sales drops. The company has decided to withdraw its guidance for 2025, focusing on a turnaround strategy under new CEO Brian Niccol, who has indicated a need for a fundamental change in strategy. The drastic sales drop, particularly in the US and China, has raised concerns about the company's future trajectory.
Source: YAHOO
Reported about 1 month ago
Australia's corporate regulator, ASIC, has filed a lawsuit against QBE Insurance, accusing the insurer of misleading over half a million customers about pricing discounts on their products from July 2017 to September 2022. The lawsuit claims QBE used a flawed pricing model that reduced discounts customers were entitled to, leading to a 1.1% drop in QBE's shares. ASIC seeks civil penalties and has previously urged improvements in claim-handling practices within the insurance industry.
Source: YAHOO
Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
The UK has raised concerns over food security following an increase in Russian attacks on Ukrainian port infrastructure, which have damaged merchant ships and disrupted grain shipments crucial for regions including Gaza and southern Africa. With Ukraine being a vital global grain supplier, these strikes pose a significant threat during harvest season, impacting not only Ukraine's economy but also global food supplies. In response, the UK is enhancing its military support to Ukraine and working with Germany on defense cooperation while preparing to protect maritime routes in the Black Sea.
Source: YAHOO
Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
McDonald's shares dropped after the CDC reported an E. coli outbreak linked to Quarter Pounders, resulting in 10 hospitalizations and one death. The fast-food giant has temporarily halted the use of fresh onion and quarter-pound beef patties in several states as they investigate the source of the contamination, with most cases concentrated in Colorado and Nebraska.
Source: YAHOO
Reported about 1 month ago
Meta Platforms and CEO Mark Zuckerberg successfully had a lawsuit dismissed that accused them of misleading shareholders about the company's ability to ensure the safety of children on Facebook and Instagram. A U.S. District Judge ruled that the plaintiff did not demonstrate economic losses from Meta's disclosures and that federal law did not require detailed accounts of child safety measures. The dismissal prevents future litigation on this matter, although Meta still faces other lawsuits related to children's safety.
Source: YAHOO
Reported about 1 month ago
Conor Cunningham from Melius Research discusses the airline industry's need to prioritize profitability as it recovers from pandemic disruptions. He highlights the importance of effective supply management, suggesting airlines should slow growth, reassess their customer targets, and refine their product offerings. Cunningham identifies United Airlines and Delta Air Lines as noteworthy stocks, emphasizing their strategies to cater to both premium and basic market segments.
Source: YAHOO
Reported about 1 month ago
In a recent discussion, US Secretary of Energy Jennifer Granholm highlighted the growing interest of major tech companies, including Microsoft, Google, and Amazon, in clean energy through Small Modular Reactors (SMRs). She emphasized the importance of these reactors for powering AI data centers with clean baseload energy, while acknowledging the challenges of their widespread adoption. Granholm calls for tech companies to unite in agreeing on specifications for these reactors to facilitate their deployment.
Source: YAHOO
Reported about 1 month ago
General Motors (GM) has seen a significant rise in its stock value, following a strong third quarter earnings report and an adjustment to its full-year financial guidance. The company's shares have increased approximately 50% this year, in contrast to struggling automakers like Ford. Analysts credit GM's focus on cost control and a $10 billion accelerated share repurchase plan as key drivers of its stock's impressive performance.
Source: YAHOO
Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
Source: YAHOO