Reported 3 months ago
McDonald’s is shutting down its beverage-focused spinoff, CosMc’s, just two years after its launch, due to lower-than-expected customer interest and recent sales declines. The chain, which opened CosMc’s to compete with other beverage chains aimed at Gen Z, will close its five locations at the end of June while still testing some inspired customizable drinks at select franchisees.
Source: YAHOO
Reported 3 months ago
Nvidia plans to introduce a new, lower-priced Blackwell AI chipset targeted at China, priced between $6,500 and $8,000, significantly cheaper than its restricted H20 model. This new chipset, expected to begin mass production in June, will utilize simpler specifications and conventional GDDR7 memory, bypassing advanced manufacturing technologies. After U.S. export restrictions led to the ban of the H20 model, Nvidia is adapting to maintain its presence in the Chinese market, although its market share has decreased dramatically due to these regulatory hurdles.
Source: YAHOO
Reported 3 months ago
Escrow account shortages have become a common issue for homeowners in the U.S., resulting in unexpected increases in monthly payments due to rising taxes and insurance costs. Many homeowners are unaware that an escrow shortage can lead to higher bills, often over $100 more each month. This situation is exacerbated by rapidly increasing property values and insurance premiums, pushing some homeowners to financial distress. New construction buyers may particularly face challenges as tax assessments often lag behind actual home value increases. Homeowners are advised to stay informed about their escrow accounts and potential increases to avoid financial surprises.
Source: YAHOO
Reported 3 months ago
The US residential solar market, valued at $20 billion, faces uncertainty as Senate Republicans consider whether to modify a recent House bill that proposed eliminating tax credits for solar leasing and sales. The industry is already struggling with tariffs and high interest rates, and there are warnings that the bill, if enacted, could devastate solar companies and installations. With significant job losses and economic upheaval possible, solar industry leaders are lobbying for changes to protect clean-energy incentives.
Source: YAHOO
Reported 3 months ago
Nvidia is set to announce its first-quarter earnings on May 28, 2025, with options traders anticipating a stock movement of up to 7.4% in either direction. Chief options strategist Sean McLaughlin suggests using an in-the-money call spread to prepare for potential outcomes, emphasizing a neutral to positive earnings reaction, while preparing for a possible muted response compared to previous quarters.
Source: YAHOO
Reported 3 months ago
Nvidia CEO Jensen Huang has lauded President Trump's strategies to enhance U.S. technology during a partnership announcement with Swedish companies to develop AI infrastructure, emphasizing the need for American firms to regain market share lost mainly to competitors in China. Huang described various policies related to re-industrialization as 'very visionary', advocating for stronger manufacturing and supply chain resilience in the U.S.
Source: YAHOO
Reported 3 months ago
Many homebuyers view a potential recession as an opportunity, with a survey indicating that over 60% expect an economic downturn within the year. Nearly 30% believe this could ease the homebuying process by lowering mortgage rates and reducing competition. Despite concerns about a recession, most buyers prioritize their financial situations and personal needs over economic conditions, with more than half stating a downturn wouldn’t deter them from purchasing a home.
Source: YAHOO
Reported 3 months ago
Reviving US manufacturing faces a complex challenge: while wages are high compared to developing countries, they are low relative to other domestic industries, making it hard to attract workers. To restore the manufacturing sector to its former prominence, an estimated 22 million additional workers would be needed, yet there are only 7.2 million unemployed individuals available. High labor costs push manufacturers toward automation, leading to fewer job openings, while lower manufacturing wages hinder recruitment efforts, leaving the industry grappling with labor shortages and changing workforce demands.
Source: YAHOO
Reported 3 months ago
Bank of Canada Governor Tiff Macklem has described US tariffs imposed by President Trump as the 'biggest headwind' for Canada, emphasizing the need for a new trade agreement while Canadian businesses seek diversification. Although current economic data shows no immediate negative effects, Macklem stressed the importance of monitoring the tariffs' impact on consumer prices.
Source: YAHOO
Reported 3 months ago
Pirelli, the Italian tire manufacturer, is in a precarious position after Sinochem, its major Chinese shareholder, rejected the company's proposal to address governance issues that could limit Pirelli's expansion in the U.S. CEO Andrea Casaluci highlighted the risks posed to Pirelli's growth, particularly in North America, and emphasized the urgent need for solutions to ensure the company's global operations are not hindered.
Source: YAHOO
Reported 3 months ago
America's increasing focus on hydration has led to the emergence of a $1.5 billion market, with products like Liquid I.V. leading the trend. Initially targeting athletes, Liquid I.V. has expanded its reach to everyday consumers looking for flavorful hydration options. The growing preference for convenient powdered mixes over traditional beverages has boosted sales, with major brands like BodyArmor and Gatorade entering the competition. Despite debates over real hydration needs, the market continues to thrive, fueled by social media trends and a rising awareness of health and wellness.
Source: YAHOO
Reported 3 months ago
Recent trends show long-term sovereign bond yields rising globally due to investor concerns over government budget deficits. In the US, the 30-year bond yield approaches levels not seen since 2007, driven by increased deficits associated with tax reforms. Similar patterns are observed in Japan, the UK, Germany, and Australia, while banks in China and Australia have lowered interest rates to combat the impact of trade tensions. Additionally, the detection of bird flu in Brazil has disrupted global chicken supplies, highlighting ongoing economic vulnerabilities across regions.
Source: YAHOO
Reported 3 months ago
Nvidia is set to announce its fiscal first-quarter earnings, with analysts predicting significant revenue growth to $43.38 billion, a 66% increase year-over-year. Amid ongoing concerns over U.S. export controls affecting sales to China, analysts remain optimistic, with both Wedbush and Oppenheimer maintaining 'outperform' ratings and price targets around $175. The consensus among 18 analysts suggests a potential upside of about 25% from the current share price.
Source: YAHOO
Reported 3 months ago
The European Union is considering removing more than 20 banks from SWIFT as part of a new sanctions package aimed at increasing pressure on Russia to end its war in Ukraine. Along with cutting ties to SWIFT, the EU plans to lower the price cap on Russian oil and ban the Nord Stream gas pipelines. Discussions are ongoing, with the EU seeking broader support from its member states and potential backing from the US, especially regarding oil price regulations. Additionally, measures are being planned to phase out Russian fossil fuels by 2027 and further sanction Russian entities aiding the war effort.
Source: YAHOO
Reported 3 months ago
U.S. President Donald Trump endorsed Nippon Steel's $14.9 billion acquisition of U.S. Steel, leading to a 21% spike in U.S. Steel's shares. Trump highlighted that the partnership would create jobs and inject $14 billion into the economy. This merger, crucial for Nippon Steel's expansion amidst declining domestic demand, would make it the world's third-largest steel producer. The deal is significant politically as it impacts job security in Pennsylvania, and despite previous opposition, recent developments suggest a favorable outcome for investors.
Source: YAHOO
Reported 3 months ago
The U.S. is set to grant a specific license to Chevron, allowing the company to perform minimal maintenance on essential operations in Venezuela, according to Bloomberg News. This move comes as Chevron's current license is about to expire, and while Venezuelan partners seek extensions, any changes require approval from U.S. Treasury and State Departments. Despite Venezuela's significant oil reserves, production has dramatically decreased due to past mismanagement and U.S. sanctions, although recent licenses have led to a slight increase in oil output since 2023.
Source: YAHOO
Reported 3 months ago
President Trump revealed a partnership between United States Steel Corp. and Japan's Nippon Steel Corp., which he claims will keep US Steel based in America and create around 70,000 jobs. Despite market optimism leading to a surge in US Steel shares, details about the agreement remain sparse, and uncertainty looms over whether a $14.1 billion takeover proposal has been endorsed. While praising the potential for revitalization of the American steel industry, concerns arise from union leaders regarding Nippon Steel's past record and the impact on domestic jobs.
Source: YAHOO
Reported 3 months ago
Advisory firm Glass Lewis has endorsed the re-election of Toyota Motor Chairman Akio Toyoda at the upcoming annual general meeting, reversing its previous opposition over the last two years due to governance concerns. While shareholder support for Toyoda has declined recently, this year marks a shift with recommendations for his re-election from both Glass Lewis and Institutional Shareholder Services.
Source: YAHOO
Reported 3 months ago
Four partners from the law firm Paul Weiss are leaving to start a new practice following the firm's controversial deal with President Trump to revoke an executive order against them. In an internal email, they expressed disappointment in not being able to share their news personally but honored their time at the firm. Notably, they include influential lawyers with prior significant roles in government and high-profile legal cases, and their departure adds to ongoing tensions in the legal community regarding Trump's administration.
Source: YAHOO
Reported 3 months ago
Pratt & Whitney has announced a tentative agreement with 3,000 striking machinists in Connecticut, who have been demanding better job security, wages, retirement benefits, and healthcare since May 4. The union plans to vote on the revised contract on May 27, highlighting that the agreement addresses key concerns of its members. The strike comes amid financial challenges for the company due to tariffs affecting profits.
Source: YAHOO
Reported 3 months ago
Next week is crucial for investors with key events including Nvidia's Q1 earnings report, expected to showcase strong performance due to demand for its latest chips. Additionally, Fed Chair Jerome Powell will speak at Princeton University and fresh inflation data from April's Personal Consumption Expenditures (PCE) index will be released, with forecasts suggesting upticks in both total and core PCE.
Source: YAHOO
Reported 3 months ago
Chinese automaker GAC has commenced the sale of hybrid and electric vehicles in Brazil and aims to establish a local manufacturing plant by late 2026. With its investment plans totaling approximately 6 billion reais, GAC anticipates reaching sales of 100,000 units within five years, capitalizing on the rapidly growing electric vehicle market in Brazil amid increasing competition from other Chinese manufacturers.
Source: YAHOO
Reported 3 months ago
President Trump revealed a partnership between U.S. Steel and Japan's Nippon Steel, pledging to keep the headquarters in Pittsburgh and attract $14 billion in investments that could create 70,000 jobs. Despite past opposition surrounding foreign control of U.S. steel, the deal aims to revitalize the struggling U.S. steel industry. The announcement follows contentious discussions on national security and foreign investment, as the steel sector seeks a pathway to recovery amid its declining influence.
Source: YAHOO
Reported 3 months ago
On May 23, 2025, President Donald Trump signed executive orders aimed at revitalizing the US nuclear power industry, including expedited construction of new reactors and government financing initiatives. This move seeks to address increasing electricity demands and reestablish America as a leader in nuclear energy, a sector it has lagged in behind countries like China and Russia. The orders also propose significant changes to the regulatory process, intending to simplify approvals and drive innovation while highlighting the potential of nuclear power as a clean energy source.
Source: YAHOO
Reported 3 months ago
Boeing has reached a settlement with the U.S. Department of Justice to avoid prosecution linked to two fatal 737 MAX crashes that resulted in 346 deaths. This deal, which allows Boeing to evade a felony conviction, has faced significant backlash from victims' families and legal representatives who believe it undermines justice for the deceased. Boeing is set to pay over $1.1 billion in fines and compensation, with the expectation that improvements in their compliance and safety protocols will continue.
Source: YAHOO