Reported 2 months ago
Tropical Storm Debby has made its second landfall in South Carolina and is expected to bring severe flooding to the East Coast as it continues its path across the region.
Source: YAHOO
Reported 2 months ago
The former Trump Hotel in Washington, D.C., known for its historical significance and luxury status, has returned to its lender, BDT & MSD Partners, after a foreclosure auction. The hotel, originally purchased for $375 million, was sold for $100 million when CGI Merchant Group defaulted on a loan. Despite the auction, the Waldorf Astoria continues to operate, with the property being a notable venue in the capital.
Source: YAHOO
Reported 2 months ago
An investigation has deemed a multi-million dollar donation to Florida A&M University, the only public historically Black university in Florida, as void due to fraudulent implications. The donation of over $237 million from Gregory Gerami was invalidated after it was revealed that university officials failed to properly vet the donor's claims, leading to reputational damage for the school and loss of expected funds for scholarships and facilities.
Source: YAHOO
Reported 2 months ago
A mystery investor, revealed to be Northwestern Mutual Wealth Management, made headlines with a record $2.7 billion investment into BlackRock’s long-dated Treasury Bond ETF. The firm's Chief Investment Officer, Brent Schutte, now believes that the anticipated recession driven by a cooling labor market is nearing. Schutte noted the increasing unemployment rate and a 35% likelihood of a recession occurring this year as factors contributing to his outlook.
Source: YAHOO
Reported 2 months ago
Costco is enhancing its membership verification process by installing card scanners at warehouse entrances to prevent unauthorized entry from nonmembers and to curb shared memberships. The new system requires all members to scan their physical or digital cards before entering, with guests needing to be accompanied by a valid member. Initial reports indicate that this change has already caused some delays at locations like Burbank.
Source: YAHOO
Reported 2 months ago
Elon Musk was caught sharing and subsequently deleting a fake headline claiming that British Prime Minister Keir Starmer was considering the establishment of 'emergency detainment camps' on the Falkland Islands. The false claim originated from a post by a far-right political figure, and the Telegraph confirmed that no such article has been published. Musk’s retweet reached nearly 2 million users before it was removed, revealing the susceptibility of even prominent social media owners to misinformation.
Source: YAHOO
Reported 2 months ago
Source: BARRONS
Reported 2 months ago
In a shaky stock market, experts recommend investors consider dividend stocks for stable returns. Coca-Cola, JPMorgan Chase, and Walmart are highlighted as must-have stocks, each with consistent dividend payouts and strong financial history. Coca-Cola, a Dividend King, pays $1.94 annually, while JPMorgan's recent increase brings its annual payout to $4.60. Walmart, also a Dividend King, has increased its dividend for 51 consecutive years, currently offering $0.83 per share.
Source: YAHOO
Reported 2 months ago
This article ranks the ten highest-yielding dividend stocks in the Dow Jones Industrial Average as of August 8, 2024. Leading the list is Verizon Communications with a 6.60% yield, followed by Dow Inc., Chevron, and International Business Machines (IBM). The report highlights each company's dividend yield and annual dividend payment, emphasizing the importance of investing in dividend stocks for generating passive income.
Source: YAHOO
Reported 2 months ago
In a recent discussion, Duolingo CEO Luis von Ahn highlighted the company's impressive growth, reporting over 100 million monthly active users and revealing that approximately 8 million are paying subscribers. He explained that the proportion of free users converting to premium subscribers has been increasing steadily by one percentage point each year, which the company plans to enhance by continuously adding more value to the paid tier, although there are no immediate plans for a price hike.
Source: YAHOO
Reported 2 months ago
Robinhood CEO Vladimir Tenev has highlighted the significant impact that artificial intelligence (AI) and cryptocurrency will have on the financial industry. Following two major acquisitions, Tenev believes these technologies can fundamentally reorganize how financial services are provided to customers. He emphasizes Robinhood's strong position in the crypto market and its commitment to integrating AI into its operations, aiming to lead in these transformative shifts.
Source: YAHOO
Reported 2 months ago
US stock markets saw significant gains on Thursday, with the S&P 500 rising nearly 2.4% and the Nasdaq climbing over 3%, following a report of falling initial jobless claims that eased worries about the US labor market and broader economy. The Dow Jones Industrial Average also posted a rise of about 1.8%. The decline in jobless claims to 233,000, down from 250,000, encouraged investor confidence and contributed to a positive momentum in the tech sector, notably benefiting stocks like Nvidia and Eli Lilly.
Source: YAHOO
Reported 2 months ago
Chip stocks, including Nvidia and AMD, rallied on Thursday, bouncing back from earlier losses attributed to economic worries and delays in Nvidia's new chip launch. The surge was supported by a better-than-expected jobless claims report, suggesting that prior economic concerns may have been overstated. Analysts view this volatility as a potential buying opportunity for investors looking to capitalize on the long-term demand for artificial intelligence.
Source: YAHOO
Reported 2 months ago
Warby Parker's co-CEO Dave Gilboa shared insights on the company's recent performance, noting significant growth in the contact lens sector with a 40% year-over-year increase. The eyewear retailer's e-commerce sales are on the rise, and they've expanded insurance coverage options, enhancing their appeal to consumers looking for convenience in purchasing glasses and contacts together.
Source: YAHOO
Reported 2 months ago
U.S. stock markets experienced an uptick, buoyed by encouraging jobless claims data showing a decrease to 233,000, surpassing economists' expectations. Meanwhile, mortgage rates for a 30-year fixed mortgage fell to 6.47%, the lowest in over a year, providing good news for homebuyers.
Source: YAHOO
Reported 2 months ago
The July jobs report indicated a decline in initial jobless claims, dropping to 233,000, according to the US Department of Labor. This data suggests a shift in the labor market dynamics, where companies are retaining employees but are cautious in the hiring process due to cost constraints. Mizuho Securities' chief economist Steven Ricchiuto comments that this trend indicates a transition from above-trend growth to a more sustainable long-term growth trajectory.
Source: YAHOO
Reported 2 months ago
Tim Walz, Kamala Harris’s newly announced running mate, has a reported net worth of only $330,000, placing him below the average American financial standing. His limited assets include no stocks or property, reflecting a stable middle-class lifestyle in contrast to the wealth of both his running mate, who has an estimated $8 million, and rival candidates like Donald Trump and JD Vance. This disparity in wealth may play a role in appealing to lower-income voters as the campaign unfolds.
Source: YAHOO
Reported 2 months ago
A U.S. court has mandated that the bankrupt cryptocurrency exchange FTX pay $12.7 billion to its customers, according to the Commodity Futures Trading Commission (CFTC). This ruling comes as part of a settlement after FTX misappropriated customer deposits for risky ventures, misleading customers into believing it was a secure platform. The settlement includes $8.7 billion in restitution and $4 billion in disgorgement, ensuring that all customers will be repaid in full based on their account values at bankruptcy. Meanwhile, FTX's founder, Sam Bankman-Fried, is serving a 25-year prison sentence for fraud.
Source: YAHOO
Reported 2 months ago
Suze Orman, the personal finance expert, expressed shock at being quoted $28,000 a year for homeowners insurance on her 2,100-square-foot condo in Florida, highlighting the staggering insurance rates in the state. Despite her wealth, Orman plans to self-insure rather than pay such exorbitant premiums, a situation that reflects a wider problem affecting many homeowners in Florida, where insurance costs are escalating dramatically.
Source: YAHOO
Reported 2 months ago
Costco is tightening its enforcement of membership sharing by implementing new scanning devices at store entrances. This measure aims to ensure that only members can access shopping facilities, and critics are discussing the potential impact on membership numbers.
Source: YAHOO
Reported 2 months ago
Robinhood's CEO, Vladimir Tenev, affirmed the platform's reliability during volatile market conditions as they reported a significant increase in cryptocurrency revenue by 161% year-over-year and record earnings of $682 million. Tenev noted a rise in July trading volumes and impressive net deposits in August, underscoring that investors are leveraging volatility to explore diverse trading strategies. With a record 2 million Robinhood Gold subscribers, the company's growth reflects a robust performance even as competitors face challenges.
Source: YAHOO
Reported 2 months ago
Taylor Swift fans were left heartbroken after three shows of her Eras Tour in Vienna were canceled following the discovery of an alleged attack plot targeting the concerts. Officials arrested two suspects aiming to cause harm outside the stadium, leading organizers to prioritize safety over performances. Despite the disappointment, fans gathered in nearby streets, exchanging friendship bracelets and expressing their grief while hoping for future shows.
Source: YAHOO
Reported 2 months ago
Apple is set to launch a new Mac mini, which will be the company's smallest desktop computer to date. Scheduled for release later this year, the redesigned Mac mini will be significantly smaller than its predecessor, resembling the size of an Apple TV. This model will feature the M4 chip, part of a broader update for the Mac lineup, as Apple aims to integrate AI capabilities across its devices. Two versions are expected, including a high-end variant with the M4 Pro chip.
Source: YAHOO
Reported 2 months ago
Despite a slowdown in electric vehicle (EV) sales in the US, Blink Charging CEO Brendan Jones highlights that global EV sales have risen by 19% this year. Blink Charging faced a miss in earnings for Q2 but continues to see growth in its charging network, particularly in multi-family dwellings and fleet services, benefiting from its vertically integrated model which enhances profitability.
Source: YAHOO
Reported 2 months ago
In a recent episode of 'The Ramsey Show', 22-year-old Molly, who inherited $1.5 million, asked host Dave Ramsey if she should consider a prenuptial agreement before her upcoming marriage. While acknowledging the potential benefits of a prenup due to the disparity in financial resources between her and her fiancé, Ramsey emphasized the importance of premarital counseling to address relationship dynamics and issues introduced by the inheritance, underscoring that money often magnifies underlying problems rather than causing them.
Source: YAHOO