Reported 3 months 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 3 months 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 3 months 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 3 months 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 3 months 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 3 months 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 3 months 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 3 months ago
Source: YAHOO
Reported 3 months 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 3 months 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 3 months 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
Reported 3 months ago
Student loan delinquencies surged in early 2025, with the US Department of Education resuming reports of missed payments, leading to 7.74% of student debt now classified as 90+ days delinquent. Experts express concern over potential spillover effects on other debts, including credit cards and auto loans, highlighting a rise in delinquencies across various loan products and emphasizing the financial distress faced by many households amid rising costs and reduced discretionary spending.
Source: YAHOO
Reported 3 months ago
Medtronic announced plans to separate its diabetes business into an independent entity due to recent struggles and regulatory issues, despite returning to growth with six consecutive quarters of double-digit growth. The new company will be led by Que Dallara, head of the diabetes unit, and aims for immediate profitability through tailored commercial strategies. The separation is expected within 18 months, following an initial public offering. Medtronic also forecasted lower-than-expected earnings for 2026, impacted by potential tariff challenges.
Source: YAHOO
Reported 3 months ago
The Social Security Administration's payment schedule is based on beneficiaries' birth dates, designating specific Wednesdays for payments each month. With nearly half of Americans over 50 facing credit card debt, rising interest rates are hindering retirement savings. Experts suggest strategies to manage debt, including negotiating lower rates, using balance transfer cards, and considering professional credit counseling, emphasizing the importance of proactive debt management.
Source: YAHOO
Reported 3 months ago
Lowe's reported a smaller-than-expected decline in first-quarter sales and stated its commitment to remain price competitive, despite the potential for price increases due to tariffs. CEO Marvin Ellison emphasized the company's strategy to protect market share against competitors like Home Depot, which aims to maintain stable prices. While both companies face challenges from tariff-related consumer sentiment drops affecting renovation projects, Lowe's has strategically invested in its operations, acquired Artisan Design for better alignment with professional builders, and diversified its supply chain to mitigate tariff impacts.
Source: YAHOO
Reported 3 months ago
Target has dramatically reduced its annual sales forecast due to a significant drop in same-store sales, as consumers cut back on discretionary spending amidst inflation and economic uncertainty fueled by tariffs and the company's controversial diversity policies. The retailer now anticipates a low-single-digit decline in sales, shocking analysts who expected modest growth, while facing increasing competition from rivals like Walmart and Costco.
Source: YAHOO
Reported 3 months ago
AI startup Crusoe has successfully raised $11.6 billion to expand its data center in Abilene, Texas, increasing the number of buildings from two to eight, bringing the total funding to $15 billion. Originally founded as a cryptocurrency company, Crusoe has shifted to AI infrastructure, receiving backing from Oracle for the construction and aiming to support OpenAI's needs for advanced AI tasks. The Abilene center is set to be the largest facility used by OpenAI, featuring 50,000 Nvidia AI chip systems in each new building.
Source: YAHOO
Reported 3 months ago
Executives from TJX Companies, which owns TJ Maxx and Marshalls, assert that they can largely offset the impact of tariffs without changing their annual forecasts, expecting steady sales growth. In contrast, Target has revised its outlook downward due to tariff impacts, expecting a slight sales decline for the fiscal year while attempting to avoid price increases.
Source: YAHOO
Reported 3 months ago
Target has reported a larger-than-expected sales drop of 2.8% in the first quarter of 2025 and anticipates a continued decline throughout the year, attributing this to economic concerns, customer boycotts, and reduced diversity initiatives. The retailer plans to establish a new office geared towards accelerating decision-making and enhancing sales growth, while also introducing more budget-friendly products to attract cost-conscious shoppers. Amidst these challenges, Target's market share is weakening in various categories, prompting urgency for changes to revive its price-conscious brand image.
Source: YAHOO
Reported 3 months ago
As US investors show renewed interest in international equities, the iShares All Country World Index ETF (ACWI) is significantly outperforming the S&P 500 in 2025. Notably, European stocks, particularly in Eastern Europe, have seen substantial growth, with increases driven by easing geopolitical tensions. Experts suggest this trend may signal a long-awaited market shift towards global diversification, despite a decade of underperformance in international markets.
Source: YAHOO
Reported 3 months ago
This article explores the highest dividend-yielding stocks in the S&P 500 as of May 2024, featuring companies like Dow Inc. and LyondellBasell Industries that offer significant annual dividends despite fluctuating market conditions. It discusses the potential risks associated with dividend stocks, emphasizing that dividends are not guaranteed and can be reduced. Investors are encouraged to understand dividend yields to make informed decisions in their investment strategies.
Source: YAHOO
Reported 3 months ago
Source: YAHOO
Reported 3 months ago
Airwallex, the fintech payments firm, has achieved a valuation of $6.2 billion following a $300 million funding round, marking an almost 11% increase from its previous valuation in 2022. Despite a challenging funding environment for fintechs due to high interest rates and economic uncertainty, Airwallex has successfully expanded its operations and diversified its offerings, now generating over 70% of its revenue through online payment processing and spend management.
Source: YAHOO