Reported 1 day ago
Grupo Werthein has initiated a $40 million investment in Illumia, a new generative AI company focused on enhancing human-like interactions between businesses and customers. The investment aims to leverage AI tools to improve customer support and sales solutions. Illumia's CEO, Daniel Figueirido, emphasizes the importance of integrating diverse technologies to achieve personalized engagement. While enthusiasm for AI is high in Latin America, concerns about privacy persist.
Source: YAHOO
Reported 1 day ago
Commerce Secretary Howard Lutnick announced that wealthy foreigners will soon be able to register for a new $5 million 'gold card' visa that offers permanent residency and work rights in the U.S. The registration website, 'Trump card dot gov', is expected to launch within a week. This visa will replace the existing EB-5 program and is anticipated to generate significant interest and funds for the U.S. economy, though it still requires Congressional approval.
Source: YAHOO
Reported 1 day ago
On May 22, major highlights include earnings from notable retailers such as Williams-Sonoma, Ralph Lauren, and Ross Stores, alongside updated data on existing home sales and insights from Federal Reserve President John Williams. The housing forecast shows a slight increase in home sales despite rising mortgage rates, and Wall Street is set to observe the IPO of Hinge Health under the ticker HNGE.
Source: YAHOO
Reported 1 day ago
U.S. Treasury Secretary Scott Bessent and Japanese Finance Minister Katsunobu Kato confirmed that the current dollar-yen exchange rate is in line with market fundamentals, emphasizing that exchange rates should be determined by the market. This statement comes amid pressures related to U.S. trade deficits and expectations regarding Japan's currency strength. They met at the G7 finance ministers gathering in Banff, Canada, but did not delve into specific exchange rate levels.
Source: YAHOO
Reported 1 day ago
Source: YAHOO
Reported 1 day ago
President Trump's 'no tax on tips' pledge, part of the GOP budget bill, aims to eliminate federal income taxes on tips for workers making less than $160,000. While widely supported, critics warn it could disproportionately benefit higher-income tipped workers while failing to aid those who need it most. The proposal is projected to add significantly to the deficit and is seen as a distraction from broader issues like minimum wage reforms.
Source: YAHOO
Reported 1 day ago
During a recent meeting at the White House, South African President Cyril Ramaphosa aimed to address President Donald Trump about misinformation surrounding alleged genocide against White farmers in South Africa. However, the meeting took an unexpected turn as Trump presented a video supporting his claims, drawing sharp criticism from Ramaphosa's team who described the encounter as an ambush. Despite the tensions, Ramaphosa sought to maintain a positive outlook on US-South Africa relations and emphasized cooperation on trade issues.
Source: YAHOO
Reported 1 day ago
Source: YAHOO
Reported 1 day ago
Source: YAHOO
Reported 1 day ago
Senator Josh Hawley criticized Allstate's CEO, Tom Wilson, for earning $26 million last year while policyholders, like Natalia Migal, struggle to receive fair payouts for storm-related damages. During a Senate hearing, he highlighted the disparity between rising company profits and denied claims, suggesting that insurance companies are prioritizing executive compensation over their customers' needs. The hearing brought attention to broader issues in the property insurance industry as legislators seek to address systemic failures that leave homeowners underprotected.
Source: YAHOO
Reported 1 day ago
Bitcoin has hit a record high of $109,760.08, driven by improving investor sentiment and easing trade tensions between the U.S. and China. The increase follows a selloff last month and is further supported by a weak dollar and increased participation from traditional financial institutions. Meanwhile, ether, the second-largest cryptocurrency, did not rise alongside Bitcoin.
Source: YAHOO
Reported 1 day ago
CoreWeave's shares surged 19% after the company announced a $2 billion debt offering, which was $500 million larger than initially planned. The senior notes, with a 9.25% interest rate due in 2030, were five times oversubscribed. The fund will be used to repay existing debt and other corporate purposes. This announcement follows a record 400% year-over-year revenue growth in the first quarter, with CoreWeave’s stock now nearly tripling since its public debut in March.
Source: YAHOO
Reported 1 day ago
Bundesbank President Joachim Nagel reported progress in resolving tariffs with the U.S. during a G7 meeting in Canada, acknowledging improved understanding between the parties but emphasizing more work is needed. He noted that the U.S. now recognizes Europe's perspective, and despite recent economic forecasts suggesting stagnation for Germany, he is cautiously optimistic about future growth, contingent on effective governmental fiscal actions.
Source: YAHOO
Reported 1 day ago
Ford has filed a lawsuit against several California law firms, claiming they inflated legal fees under the state’s Lemon Law, including one lawyer who allegedly billed an impossible 57.5 hours in a single day. The automaker asserts that a significant scheme led to losses of at least $100 million over five years, and it is seeking $300 million in damages under federal anti-racketeering laws. The complaint highlights many instances of lawyers billing more than 24 hours in one day.
Source: YAHOO
Reported 1 day ago
UnitedHealth experienced a drop of over 6% in its shares following a report from the Guardian revealing that the company allegedly made undisclosed payments to nursing homes to minimize hospital transfers, raising concerns about patient safety. This claim is part of ongoing scrutiny facing the healthcare giant, which has already suffered losses from a cyberattack, legal investigations, and the resignation of its CEO. Despite UnitedHealth's statements that the allegations have been investigated and deemed inaccurate, investor confidence remains shaky as the company looks to newly reinstated CEO Stephen Hemsley for recovery amid downgrades from financial analysts.
Source: YAHOO
Reported 1 day ago
Snowflake reported better-than-expected first-quarter earnings, raising its full-year revenue outlook. The rise of AI agents is driving the demand for data housed in Snowflake, which is crucial for their functionality. As companies seek to leverage AI, Snowflake remains competitive against rivals like Databricks, with both companies leading in their respective areas of data warehousing and AI/data science.
Source: YAHOO
Reported 1 day ago
House Speaker Mike Johnson has proposed raising the SALT (State and Local Tax) deduction cap to $40,000 in an effort to secure support from moderate lawmakers while discussions on President Trump's tax bill continue. This increase from the current $10,000 cap aims to alleviate pressure from the SALT caucus, but it may intensify negotiations with fiscal conservatives who seek additional budget cuts. The outcome of these discussions is crucial as the timeline for voting on the bill approaches.
Source: YAHOO
Reported 1 day ago
Morgan Stanley has updated its economic outlook, predicting a mid-year recession and delaying further Federal Reserve interest rate cuts until 2026 due to ongoing concerns about inflation and a weakening job market. Despite recent gains in the stock market, fears persist as economic indicators show slowing growth and rising unemployment. The investment firm anticipates GDP growth of just 1% for 2025 and 2026, with inflation expected to remain above the Fed's target, complicating monetary policy decisions.
Source: YAHOO
Reported 1 day ago
In an inspiring episode of 'Living Not So Fabulously,' Vicky and Charisse Pasche share their journey of founding the gender-neutral clothing brand Dapper Boi. Overcoming significant challenges, including selling their home and crowdfunding on Kickstarter, the couple has built a loyal customer base while navigating the complexities of the fashion industry. They discuss their motivations, the emotional weight of their choices, and how they plan to adapt to changing market conditions, all while staying true to their vision of inclusive fashion.
Source: YAHOO
Reported 1 day ago
In a fiercely contested shareholders meeting, both Elliott Investment Management and Phillips 66 emerged with two board seats each, reflecting a desire for change among shareholders without endorsing Elliott's more radical proposals. The results highlight a divided sentiment as shareholders advocate for a balance of new perspectives and the current management's strategy, indicating a cautious approach amidst ongoing operational challenges in the oil refining sector.
Source: YAHOO
Reported 1 day ago
Source: YAHOO
Reported 1 day ago
President Trump's major legislative initiative, dubbed the 'Big Beautiful Bill', faces strong division among political parties. While it aims to make tax cuts for wealthy individuals permanent and boost defense spending, it simultaneously proposes cuts to Medicaid and significant reforms to food assistance programs like SNAP. If passed, the bill may adversely affect low-income Americans and clean energy initiatives while benefiting defense contractors and large corporations.
Source: YAHOO
Reported 1 day ago
In a recent Market Minute on Yahoo Finance, host Julie Hyman highlighted OpenAI's acquisition of Jony Ive's startup io for nearly $6.5 billion in stock, developments surrounding Fair Isaac's declining share value due to criticism over its credit report pricing, and children's apparel brand Carter's significant reduction of its quarterly dividend from 80 cents to 25 cents per share.
Source: YAHOO
Reported 1 day ago
Off-price retailer TJX reported stronger-than-expected quarterly sales, driven by consumer demand for discounted goods amid economic uncertainty and potential tariff impacts. The company maintained its fiscal forecasts with projected comparable sales growth of 2% to 3% as it seeks to navigate tariff-related costs through strategic pricing and sourcing. Despite a dip in shares, TJX's net sales for the first quarter reached $13.11 billion, exceeding estimates.
Source: YAHOO