Reported 3 months ago
As life expectancy increases to 77.5 years, American retirees face the risk of outliving their financial resources amid rising medical costs. CNO Financial Group CEO, Gary Bhojwani, emphasizes the importance of financial planning and seeking trusted advice to mitigate the risk of insufficient funds in retirement.
Source: YAHOO
Reported 3 months ago
As inflation pressures persist, companies are caught in a struggle to balance price reductions while maintaining profit margins. Consumers are increasingly seeking value, particularly in food and fuel, leading to a 'pull and tug' situation where loyalty to brands that respond with lower prices will be crucial. Experts suggest that while some goods have seen price drops, the broader economy, marked by labor shortages, complicates the ability for widespread price reductions.
Source: YAHOO
Reported 3 months ago
Private credit, defined as lending from non-bank institutions like private equity firms to small and mid-sized businesses, is a diverse and growing asset class. In a discussion with Alona Gornick from Churchill Asset Management, key concepts and investment strategies related to private credit are explored, emphasizing that it is not a one-size-fits-all solution. Investors are encouraged to educate themselves on different approaches within this category.
Source: YAHOO
Reported 3 months ago
CarShield has agreed to pay $10 million to settle allegations from the Federal Trade Commission (FTC) regarding deceptive advertising of its extended auto warranty plans. The FTC claimed that many customers were misled into believing their repair claims would be covered, despite making payments of up to $120 per month. The company featured celebrity endorsements in its advertisements, yet many consumers reported that necessary repairs were not covered as promised. The settlement prohibits CarShield from making misleading claims in the future and mandates accuracy in representative testimonials.
Source: YAHOO
Reported 3 months ago
T-Mobile (TMUS) exceeded Wall Street forecasts with strong second quarter results, boasting an unexpected increase in monthly subscribers. CEO Mike Sievert highlighted the company's solid performance despite consumer slowdown concerns, noting a low bad debt rate compared to competitors. Sievert expressed excitement about AI developments, particularly regarding the potential impact of new iPhone features. He confirmed that T-Mobile is not currently pursuing additional acquisitions.
Source: YAHOO
Reported 3 months ago
Source: BARRONS
Reported 3 months ago
The surge in the semiconductor sector, particularly following AMD's earnings boost from AI sales, highlights the critical role of energy companies in the AI industry. Eli Horton, a senior portfolio manager, points out that the backbone of AI relies heavily on energy and power grids, leading companies to invest billions in infrastructure like chips and data centers that demand significant power. He warns that while investors may focus on flashy AI technologies, the real beneficiaries are older industrial firms in the electrical and power sectors.
Source: YAHOO
Reported 3 months ago
Economist Dana Peterson discusses the potential effects of a Federal Reserve interest rate cut in September, highlighting that while many workers are benefiting from wage growth, this may inadvertently increase inflation, making it more challenging for the Fed to achieve its goal of a 2% inflation rate.
Source: YAHOO
Reported 3 months ago
Italian app developer Bending Spoons has acquired file-sharing platform WeTransfer, marking its fifth acquisition this year. The deal follows a capital increase that valued Bending Spoons at $2.55 billion. WeTransfer, founded in 2009, offers users the ability to transfer large files and has approximately 600,000 subscribers and 80 million monthly active users. This acquisition continues Bending Spoons' strategy of expanding its software portfolio, having previously acquired several other digital platforms in 2024.
Source: YAHOO
Reported 3 months ago
Microsoft's recent quarterly earnings report showed significant capital expenditure (CapEx), which did not meet some expectations on Wall Street. Yahoo Finance's Akiko Fujita discusses the increased analyst interest in CapEx this earnings season, highlighting insights from Microsoft's AI and Azure cloud segments.
Source: YAHOO
Reported 3 months ago
The Michigan Supreme Court has overturned a legislative rollback of the state's minimum wage and paid sick leave laws, originally established following a 2018 petition drive. In a 4-3 decision, the court ruled that Republican lawmakers violated the state constitution by weakening these laws they previously passed. The reinstated laws will implement a new minimum wage and sick leave requirements, affecting many low-wage workers in the state. The ruling underlines the importance of voter participation in the legislative process.
Source: YAHOO
Reported 3 months ago
Lemonade CEO Daniel Schreiber highlights the company's second quarter report, revealing a net loss of $0.81 per share yet an 8% growth in premiums year-over-year. Schreiber attributes the rise in insurance premiums to inflation, particularly in the auto sector and home repairs, rather than corporate greed. He notes significant cost increases for insurance companies following accidents or damage claims, which ultimately affects consumers.
Source: YAHOO
Reported 3 months ago
Emerging-market equities and currencies saw gains as traders anticipate the Federal Reserve will keep interest rates steady while hinting at potential cuts in September. This optimism is fueled by strong earnings in developing nations and a rally in Chinese stocks amid hopes for stimulus measures, despite overall concerns about economic challenges and geopolitical tensions.
Source: YAHOO
Reported 3 months ago
Student loan borrowers should check their emails as the US Department of Education begins sending notifications on August 1 about potential relief and opt-out options. Wealth! Anchor Brad Smith discusses what students, borrowers, and parents of federal student loans need to know regarding this relief plan from the Biden administration.
Source: YAHOO
Reported 3 months ago
The U.S. Treasury market saw a rally as expectations grew that the Federal Reserve will initiate interest rate cuts during its upcoming September meeting. Economic data indicating a softening labor market has led to reduced yields across various Treasury notes. While the Fed is anticipated to maintain current rates this week, traders are keenly watching for hints of future cuts in policymakers' statements. Recent reports show fewer job additions, adding to the belief that the central bank may soon ease borrowing costs.
Source: YAHOO
Reported 3 months ago
As several major tech companies like Alphabet, Tesla, and Microsoft have recently underwhelmed investors despite beating earnings expectations, Winthrop Capital Management portfolio manager Luke Stone predicts that Meta Platforms' forthcoming earnings report will also fall short, describing it as 'discouraging'.
Source: YAHOO
Reported 3 months ago
CarShield has reached a $10 million settlement with the U.S. Federal Trade Commission in response to allegations of deceptive advertising concerning its vehicle service contracts. The resolution prohibits the company from allowing celebrity endorsements, including those from Ice-T, to misrepresent their services.
Source: YAHOO
Reported 3 months ago
On July 31, 2024, stock movements highlighted significant gains for Powell Industries and Mastercard, with Powell Industries rising $43.35 to $176.60 after exceeding earnings expectations, and Mastercard gaining $13.35 to $460.80 following strong second-quarter results. In contrast, Pinterest and Lantheus experienced declines, with Pinterest falling $4.62 to $32.73 due to a disappointing revenue forecast, and Lantheus declining $5.48 to $104.29 after revising its profit expectations downward.
Source: YAHOO
Reported 3 months ago
U.S. Senator Maria Cantwell announced her intention to introduce legislation that mandates the Federal Aviation Administration (FAA) to implement advanced safety protocols following scrutiny over its oversight of Boeing. Cantwell emphasized the necessity for the FAA to establish its own safety management system while confirming her plans to summon Boeing's new CEO, Kelly Ortberg, for testimony.
Source: YAHOO
Reported 3 months ago
Aaron Zahn, former CEO of a north Florida public utility, was sentenced to four years in federal prison for devising a privatization scheme that aimed to enrich himself and his associates by tens of millions of dollars at taxpayers' expense. Convicted of wire fraud and conspiracy, Zahn's plan, which included a hidden incentive for executives, was thwarted by an auditor in 2019, leading to his dismissal.
Source: YAHOO
Reported 3 months ago
Yum Brands, the parent company of Taco Bell, plans to enhance its use of generative AI in drive-thrus across more locations to facilitate late-night orders. This technology is already in operation in 13 states.
Source: YAHOO
Reported 3 months ago
Recent data from Xeneta reveals that airfreight services quickly bounced back just nine days after the significant CrowdStrike Windows outage on July 19, which led to thousands of flight cancellations. This recovery was bolstered by rising cargo load factors and increased passenger flights during the summer. July also marked a notable rise in air cargo demand, with a year-on-year spot rate increase of 13%, reflecting strong e-commerce needs and supply chain pressures caused by disruptions in ocean freight. However, concerns remain about capacity management ahead of the busy season.
Source: YAHOO
Reported 3 months ago
Today's focus for investors is the Federal Reserve's meeting, where it is expected to keep interest rates steady amidst growing speculation of potential cuts. Additionally, Meta Platforms is set to announce its quarterly earnings, while other companies like Qualcomm, Arm Holdings, Carvana, and Etsy also report their financial results. Notable guests for the discussions include leading economists and investment strategists.
Source: YAHOO
Reported 3 months ago
A ransomware attack on C-Edge Technologies, a service provider for small banks in India, has led to the temporary shutdown of payment systems in nearly 300 local banks. The Reserve Bank of India and the National Payment Corporation of India responded by isolating C-Edge to limit the impact on the broader payment network. This incident is part of increased concerns regarding cyber threats faced by banking institutions in India.
Source: YAHOO
Reported 3 months ago
The Bank of Japan's recent interest rate hike to its highest level in 15 years has propelled the yen to its strongest position against the dollar since March, prompting investors to reevaluate their carry trade strategies. This significant move has relieved Japanese financial authorities and made yen funding less attractive for investments in higher-yielding currencies, especially in light of tightening monetary policies globally. As market conditions change and volatility rises, hedge funds are likely to reassess their positions, leading to potential shifts in currency investments.
Source: YAHOO