Reported about 2 months ago
Source: YAHOO
Reported about 2 months ago
Source: YAHOO
Reported about 2 months ago
Source: YAHOO
Reported about 2 months ago
Source: WSJ
Reported about 2 months ago
Nippon Steel and the Trump administration have requested an 8-day pause in litigation to finalize a $14.9 billion acquisition of U.S. Steel. This request indicates both parties are nearing an agreement, following previous national security concerns raised during the Biden administration. Former President Trump expressed interest in facilitating this deal, although his comments have caused some confusion regarding its approval.
Source: YAHOO
Reported about 2 months ago
BP has solidified its role in Azerbaijan's oil and gas industry with new agreements for the Shah Deniz gas field, terminal electrification, and solar power projects. These initiatives reflect BP's commitment to growth and sustainability, aiming to enhance production and reduce emissions. The company has also secured new exploration licenses in the Caspian Sea and plans significant projects that could boost global production significantly by 2030.
Source: YAHOO
Reported about 2 months ago
US tariffs on steel and aluminium, now reaching 50%, pose a significant risk of job losses in Canada's metals industry, which is the largest supplier to the US market. The Aluminium Association of Canada and Unifor, the private sector union, express concerns over immediate impacts, with potential layoffs anticipated in various sectors, including auto and aerospace. In response, companies may diversify to Europe, while Canada's Prime Minister has indicated readiness to retaliate if negotiations with the US do not yield positive results.
Source: YAHOO
Reported about 2 months ago
Greif has updated its fiscal year 2025 guidance, anticipating adjusted EBITDA to reach at least $725 million due to a strong performance in Q2, where net income rose to $47.3 million, an increase from the previous year. The company also reported slight increases in sales and gross profit, while reducing its total debt significantly. CEO Ole Rosgaard emphasized the firm's strategic progress and operational discipline, positioning Greif for future success.
Source: YAHOO
Reported about 2 months ago
Global Vehicle Group (GVG) has successfully acquired Fleet Alliance, a leasing broker and fleet management firm based in Glasgow. While financial details remain undisclosed, this acquisition consolidates GVG's position in the market, making it the largest B2B leasing broker in the UK. GVG now encompasses Fleet Alliance, along with Global Vans and XLCR Vehicle Leasing, managing over 70,000 vehicles and boasting annual volumes of approximately 18,000 units with a funded value exceeding £2.5 billion. Both GVG and Fleet Alliance will maintain their distinct management teams and brand identities while collaborating to enhance service offerings.
Source: YAHOO
Reported about 2 months ago
Ryan has expanded its tax services by acquiring The Albano Group's property tax service lines, bringing in a team of experts and a diverse client portfolio. This acquisition aims to enhance client experiences by integrating localized tax strategies with Ryan's technology solutions. The move aligns with Ryan's goal of providing superior consulting services while extending its reach in the Northeast and offering additional tax-saving opportunities to their new clients.
Source: YAHOO
Reported about 2 months ago
Amazon has announced a $10 billion investment to expand its data center infrastructure in North Carolina, aimed at supporting advancements in artificial intelligence and cloud computing technologies. This project is expected to create at least 500 high-skilled jobs and thousands more in the Amazon Web Services supply chain, addressing the growing demand for generative AI and enhanced cloud infrastructure.
Source: YAHOO
Reported about 2 months ago
Citadel President Jim Esposito warned that the rising U.S. deficit is a 'ticking time bomb,' emphasizing the importance of the Trump administration's response to the crisis. Other financial leaders, including JPMorgan Chase CEO Jamie Dimon, have echoed similar concerns about the national debt impacting the bond market. Esposito noted that the complacency over the debt issue could have serious implications, especially with recent downgrades to the U.S. credit rating and increased bond yields, which may lead to higher borrowing costs.
Source: YAHOO
Reported about 2 months ago
Japan has softened its stance on the repeal of the 25% U.S. auto tariff, proposing a gradual reduction based on contributions to the U.S. auto industry. Japan's chief negotiator Ryosei Akazawa, in Washington for talks with U.S. officials, emphasized the need for a review of the tariff measures while discussions included trade expansion and economic security.
Source: YAHOO
Reported about 2 months ago
The Brazilian government is set to support a bill that proposes a 10% reduction in federal tax breaks as an alternative to a controversial financial transaction tax increase. The legislation, introduced by lawmaker Mauro Benevides, outlines a 5% cut in tax benefits for 2025 and another 5% cut for 2026, excluding certain free trade zones and non-profit entities. Finance Minister Fernando Haddad indicated that these measures are vital for balancing public accounts and addressing the proposed tax hike.
Source: YAHOO
Reported about 2 months ago
The UK's Competition and Markets Authority (CMA) has secured commitments from Amazon to enhance measures against fake reviews, which include sanctioning British businesses that engage in rating manipulation and implementing strict processes to detect and remove fraudulent reviews. This action follows a four-year investigation, aiming to uphold consumer protection laws as 90% of consumers rely on online reviews for purchases.
Source: YAHOO
Reported about 2 months ago
Harvard University has filed a lawsuit against the Trump administration to prevent the barring of its international students from entering the U.S. after Trump's proclamation linked the ban to alleged national security risks. This legal battle escalates tensions between the university, where 27% of the student body is international, and the government, which claims Harvard has failed to manage student conduct violations. The lawsuit argues that the administration's actions are retaliatory and infringe on Harvard's rights, while the university is prepared to ensure that its international community can continue their work despite the ongoing legal issues.
Source: YAHOO
Reported about 2 months ago
On June 6, market analysts Julie Hyman and Josh Lipton highlight significant topics, including the May jobs report forecasting a slower job growth with 126,000 jobs added and a steady unemployment rate at 4.2%. They also anticipate a slight dip in consumer credit data, indicating decreased reliance on credit cards. Additionally, the Summer Games Fest in Los Angeles is set to showcase major gaming companies, coinciding with Nintendo's launch of the long-awaited Switch 2 console.
Source: YAHOO
Reported about 2 months ago
The deterioration of billionaire Elon Musk's political ties with President Donald Trump has raised concerns over potential regulatory scrutiny of Musk's various companies, including Tesla, SpaceX, Neuralink, and others. Various regulatory bodies such as the FCC, FDA, EPA, NHTSA, FAA, SEC, and FTC are involved in overseeing Musk's ventures, each with their own ongoing investigations and requirements that could impact Musk's business operations.
Source: YAHOO
Reported about 2 months ago
Kendra Tucker has stepped down as CEO of Truckstop after three years in the role. Founder Scott Moscrip will temporarily return as CEO while the company searches for a new leader. Tucker, who joined the company in 2020, was praised for navigating the challenges during the pandemic and expanding Truckstop's offerings. The board has expressed gratitude for her leadership during her tenure.
Source: YAHOO
Reported about 2 months ago
The U.S. Treasury Department announced that none of its major trading partners manipulated their currencies in 2024 but expanded its monitoring list to include Ireland and Switzerland. The latest semi-annual report reveals that the U.S. has maintained a monitoring list since 2016, with China, Vietnam, South Korea, Taiwan, Japan, Germany, and Singapore also continuing under scrutiny. This release marks the end of the currency reports during Joe Biden's presidency and comes as Donald Trump returns to office.
Source: YAHOO
Reported about 2 months ago
According to a new report, U.S. employers have announced nearly 700,000 layoffs this year, the highest since 2020, driven by government spending cuts and economic uncertainty. Major companies like Procter & Gamble and Microsoft have contributed to this surge, with economic pressures leading to reduced hiring and increased job cuts. The report highlights how changes in government efficiency and overall pessimism in consumer spending are accelerating these layoffs.
Source: YAHOO
Reported about 2 months ago
Brown-Forman Corp., the maker of Jack Daniel's, announced a 5% drop in full-year net sales to nearly $4 billion, alongside a 15% decrease in net income, primarily due to challenging market conditions caused by global trade conflicts and reduced consumer spending. CEO Lawson Whiting indicated that the upcoming year is expected to be equally tough, highlighting a shift in consumer behavior towards purchasing smaller sizes of spirits amid economic uncertainty. The company's outlook remains cautious, anticipating continued volatility influenced by potential tariffs and consumer spending trends.
Source: YAHOO
Reported about 2 months ago
The S&P 500 fell by 0.6% on June 5 due to rising unemployment claims, raising concerns ahead of the jobs report. Tesla shares dropped 14.3% following a public disagreement between CEO Elon Musk and President Trump over a budget bill. Meanwhile, Dollar Tree's stock rose 9.1% after an upgrade from JPMorgan, highlighting the retailer's growth potential through its new strategies.
Source: YAHOO
Reported about 2 months ago
Circle, the stablecoin issuer, launched a successful IPO worth $1.05 billion, with shares opening at $69 and closing at $83.23 on the New York Stock Exchange. This strong debut is expected to encourage other major crypto companies like Kraken and Gemini to consider public listings as the crypto market receives renewed interest following strong support from U.S. President Donald Trump. Analysts suggest that Circle's success signals potential growth in the public market for both crypto and fintech firms.
Source: YAHOO
Reported about 2 months ago
In a recent episode of "The Big Idea" podcast, fashion designer Rebecca Minkoff discussed strategies for leveraging one's personal brand in business. She highlighted the importance of authenticity, the pros and cons of using one's name for branding, and the evolving nature of personal identity in entrepreneurship. Minkoff also touched upon her experiences with challenges and growth in the fashion industry, emphasizing the need for community and education among female founders.
Source: YAHOO