Reported 5 months ago
Federal officials have initiated the process to transfer FTX founder Sam Bankman-Fried to a new prison against his preference to remain in New York to aid in his appeal preparations, as reported by the Wall Street Journal. Bankman-Fried was recently sentenced to 25 years in prison for embezzling $8 billion from customers of the now-defunct FTX cryptocurrency exchange he established, following a jury's conviction on seven fraud and conspiracy charges related to FTX's 2022 collapse, considered one of the largest financial frauds in U.S. history.
Source: YAHOO
Reported 5 months ago
The article discusses the potential approval of spot ether ETFs by the Securities and Exchange Commission (SEC), following the success of spot bitcoin ETFs earlier this year. VettaFi Investment Strategist Cinthia Murphy highlights the robust demand for bitcoin ETFs and the growing interest in other crypto ETFs like ether. Murphy suggests that investing in spot ETFs is a good way to enter the cryptocurrency market and also recommends gold ETFs for portfolio diversification. Additionally, the article touches on the performance of metals like copper and their potential as investment options.
Source: YAHOO
Reported 5 months ago
Walt Disney Co. has reached an agreement to sell its minority stake in a subscription television broadcaster to Tata Group, allowing Disney to focus on merging its Indian unit with Mukesh Ambani’s media arm. The deal values Tata Play Ltd. at around $1 billion, with Tata Group now holding over 70% stake after acquiring Temasek Holding Pte's shares. Disney's stake sale comes amid significant changes in India's media industry, as Disney previously signed a deal to merge its India unit with Viacom 18 Media Pvt.
Source: YAHOO
Reported 5 months ago
Brazil's Finance Minister Fernando Haddad stated that despite good consumer price readings, the country's monetary policy remains "very restrictive," with inflation running within the central bank's target range. The central bank recently reduced the pace of its easing cycle by lowering Brazil's benchmark interest rate by 25 basis points to 10.5%, after previously making larger cuts. Haddad emphasized the importance of fiscal and monetary policies being aligned to control inflation, as the annual inflation rate in Brazil reached 3.69% in April, within the central bank's target range.
Source: YAHOO
Reported 5 months ago
UK Prime Minister Rishi Sunak has called a surprise general election for July 4, aiming to secure a win for the Conservative Party against the leading opposition Labour Party, led by Keir Starmer. Sunak's decision to call the election early surprised many within his own party, as the Tories have been struggling in the polls. Labour holds a significant lead, and Sunak's attempt to frame the election around economic recovery and stability faces challenges, with voters showing a negative view of him. Starmer's Labour Party is focused on boosting public services and economic growth to win over voters, aiming to translate their poll dominance into a victory in the election.
Source: YAHOO
Reported 5 months ago
Meta Platforms Inc. CEO Mark Zuckerberg has established a new advisory council called the Meta Advisory Group, which will provide guidance on the company's AI and technology advancements. The council includes executives from companies like Stripe, GitHub, and Shopify, and will meet periodically with Meta's management team to offer insights on innovation and growth opportunities in AI. The group's creation aligns with Meta's increased focus on AI development, as the company aims to expand its product offerings in hardware and software.
Source: YAHOO
Reported 5 months ago
China has imposed sanctions on 12 U.S. defense-related companies and 10 executives over arms sales to Taiwan in response to American sanctions on Chinese firms linked to Russia. The sanctioned entities include units of Lockheed Martin, Raytheon, and General Dynamics, with senior executives of Northrop Grumman Corporation and General Dynamics also targeted. These measures, enacted under China's Anti-Foreign Sanction Law, freeze assets in China, deny visas, and prohibit business dealings with Chinese firms, following U.S. arms sales to Taiwan and earlier American sanctions on Chinese entities related to Russia.
Source: YAHOO
Reported 5 months ago
According to Cars Commerce Senior Director of Industry Data and Insights, Rebecca Lindland, the auto industry is showing signs of stabilization despite facing obstacles like tariffs, dips in electric vehicle demand, and auto worker strikes. Prices for used cars have been high, but there is a shortage due to fewer people turning in leased vehicles. Consumers are encouraged to utilize tools like payment calculators on sites like Cars.com to find vehicles that suit their budgets. Additionally, the electric vehicle market is experiencing volatility, with more choices and variety for consumers. Inflation and insurance costs are also impacting the types of vehicles people are considering purchasing.
Source: YAHOO
Reported 5 months ago
Israel released previously withheld footage showing five female army conscripts being seized by Hamas gunmen during a raid on October 7, triggering the Gaza war. The captives' families hope the footage will pressure Prime Minister Benjamin Netanyahu to secure their release. The video, aired on Israeli television, depicts the women being bound and taken away by militants. Netanyahu's government aims to use the footage to garner support, while Hamas defends its fighters' actions and denies allegations of mistreatment. Hostage families urge the Israeli government to return to negotiations to bring their loved ones home.
Source: YAHOO
Reported 5 months ago
Emma Corrin has experienced significant backlash and vitriol since coming out publicly as queer and nonbinary, receiving negative responses from some fans who struggle to accept their identity. Despite this, Corrin finds gratifying moments in positively impacting fans, such as helping an older man understand his transgender grandchild after portraying Orlando in Virginia Woolf's novel. They acknowledge the challenges of being visibly nonbinary in an industry where such identities are not often centered but recognize the importance of taking up space and being visible to enact change.
Source: YAHOO
Reported 5 months ago
Private credit lenders and banks are in a competition to provide debt financing for a potential buyout of education software provider PowerSchool Holdings Inc. A roughly $3 billion debt package is being sought, with direct lenders like Ares Management Corp., HPS Investment Partners, Blackstone Inc., and Blue Owl Capital Inc. among those vying to provide funding. PowerSchool has attracted interest from private equity firms like Warburg Pincus and Bain Capital, and financing terms are still being finalized. The amount of funded debt discussed exceeds seven times PowerSchool's earnings, and preferred equity may be used to bridge any financing gaps.
Source: YAHOO
Reported 5 months ago
Disney has reached a deal to sell its stake in Tata Play, the satellite TV provider of India's Tata Group, for approximately $1 billion, as reported by Bloomberg News. This move comes as Disney aims to concentrate on its merger with Reliance Industries in India, forming an $8.5 billion entertainment powerhouse. Last month, Tata Sons increased its stake in Tata Play to 70% by acquiring a 10% stake from Temasek, making Tata Play a joint venture with Disney. Details on the change in joint venture shareholding post the stake sale were not provided in the report.
Source: YAHOO
Reported 5 months ago
JPMorgan's chief market strategist, Marko Kolanovic, has issued a pessimistic forecast for the S&P 500, predicting a potential 20% drop by the end of the year, with a year-end target of 4,200. Despite recent record highs in the stock market, Kolanovic cited high equity valuations and ongoing concerns about inflation, interest rates, and geopolitical uncertainty as reasons for the negative outlook. Additionally, he expressed skepticism that advancements in artificial intelligence could offset these challenges.
Source: YAHOO
Reported 5 months ago
The article discusses how certain statistics in fantasy baseball can be misleading and not tell the full story of a player's performance. It highlights examples such as Edwin Díaz's inflated ERA due to recent poor outings, Yordan Álvarez being undervalued despite strong underlying metrics, Pablo López's ERA not reflecting his overall pitching performance, and Patrick Sandoval's improved stats in May despite bad luck. Additionally, the article mentions Reese Olson's lack of wins despite a solid ERA, attributing it to poor run support and bad luck, while also noting that his performance may regress in the future.
Source: YAHOO
Reported 5 months ago
Camila Cabello and Lil Nas X released a new music video for their song "He Knows," in which they playfully fight over a love interest represented by a fluid mannequin. The cinematic video shows Cabello dancing with the love interest before Lil Nas X intervenes, leading to a physical altercation between the two artists until they realize the object of their affection is just a mannequin. Cabello praised Lil Nas X for his comedic talents and shared her enthusiasm for their collaboration. Additionally, she discussed her upcoming album, C, XOXO, calling it her best work yet and expressing pride in the project's depth and aesthetic.
Source: YAHOO
Reported 5 months ago
LeBron James is supporting rookie WNBA player Caitlin Clark as she navigates a tough start with the Indiana Fever, emphasizing the importance of staying focused, working hard, and learning from veteran players. James draws parallels between Clark's situation and the criticism faced by his son Bronny as he prepares for the NBA draft, highlighting the challenges and expectations that come with being a high-profile athlete. Despite the pressures, James encourages both Clark and his son to block out negativity, focus on their game, and continue pursuing their dreams.
Source: YAHOO
Reported 5 months ago
Williams-Sonoma exceeded analysts' expectations for both revenue and earnings in their recent quarterly report. The company's stock initially surged but is currently down by about 0.3%. The company's performance is seen as a gauge on high-income consumers, and despite a decrease in comparable sales for two of their brands, Williams-Sonoma remains focused on maintaining pricing without increases. Investors are looking closely at the company's outlook on margins following this update.
Source: YAHOO
Reported 5 months ago
The article discusses how Volcafe Ltd., a major coffee trader, predicts a fourth year of deficits for robusta beans used in instant coffee due to dry weather in Vietnam, the top producer. The crop potential for Vietnam in the 2024/25 season is forecasted to be the lowest in 13 years, leading to irreversible damage to coffee blossoms. This forecasted deficit may lead to higher coffee prices, impacting consumers and prompting a potential shift in demand towards arabica beans. Despite record exports from Brazil offsetting some shortages, global coffee supplies are expected to be tight in the upcoming season.
Source: YAHOO
Reported 5 months ago
Portuguese filmmaker Miguel Gomes presents "Grand Tour," an avant-garde cinematic odyssey through the Far East, tackling themes of colonialism and gender in an oblique and experimental manner. The film, set in two timeframes, follows the journey of British civil servant Edward Abbot through various countries, with a narrative that blurs fact and fiction. Gomes' distinctive visual style, deadpan humor, and intricate storytelling may appeal to arthouse audiences familiar with his work, but less seasoned viewers might find the film challenging and requiring effort to interpret.
Source: YAHOO
Reported 5 months ago
Liam Neeson is set to star in the action-thriller film "Mongoose," where he will lead police on a cross-country car chase on television. Amazon Prime Video has secured most of the international distribution rights for the movie in a deal worth around $20 million. Neeson plays the character Ryan "Fang" Flanagan, a war hero who is wrongly accused of a crime and takes police on a high-stakes chase. The movie, produced by Code Entertainment, is set to begin production in January 2025 in Australia and will be directed by veteran stunt professional Mark Vanselow.
Source: YAHOO
Reported 5 months ago
In the 2024 NBA playoffs, injuries to star players have significantly impacted the title picture, with several contending teams losing key players to injury at crucial moments. Teams like the Cleveland Cavaliers, Miami Heat, New York Knicks, Milwaukee Bucks, LA Clippers, and New Orleans Pelicans have all been affected by injuries to star players, leading to early exits from the playoffs. The rise in injuries this postseason, surpassing previous years, has highlighted the importance of player availability in the quest for the championship, with the healthiest teams like the Celtics and Mavericks advancing further. The article explores how injuries have been a major factor driving parity in the league and influencing the outcome of the playoffs.
Source: YAHOO
Reported 5 months ago
A judge in Hawaii has ordered Bristol Myers Squibb and Sanofi to pay over $916 million to the state for not warning non-white patients of health risks associated with the blood thinner Plavix, an increase from the initial judgment of $834 million. The ruling follows a non-jury trial and marks the second trial in the case after a legal error was found in the initial judgment. The companies disagreed with the decision and plan to appeal, stating that Plavix is safe and effective regardless of a patient's race or genetics. Hawaii alleged that the drug was marketed without disclosing its potential ineffectiveness for certain ethnic groups, such as East Asian and Pacific Island ancestry.
Source: YAHOO
Reported 5 months ago
Mexican seaports experienced a record increase in cargo volumes during the first four months of 2024, with a total of 2.95 million twenty-foot equivalent units moved, marking an 18.2% year-over-year growth. The ports on Mexico's Pacific Coast, specifically Manzanillo and Lazaro Cardenas, saw significant increases in container movements, while Gulf Coast ports like Veracruz and Altamira also reported notable growth. Overall, the surge in cargo volumes signifies a positive trend in Mexico's maritime trade industry.
Source: YAHOO
Reported 5 months ago
Microsoft is aiming to make the battle between Macs and PCs interesting again with its new AI PCs called Copilot+ PCs, boasting more powerful silicon and unique experiences. These AI PCs include special neural processing units, a minimum of 16GB of RAM, 256GB of storage, and run Microsoft’s Copilot AI assistant for Windows 11. Microsoft believes it has an edge on Apple in terms of performance and unique offerings, such as Copilot Recall for easier search capabilities. The first Copilot+ PCs are set to launch in June starting at $999, directly competing with Apple’s MacBook Air. Microsoft is emphasizing performance and battery life, claiming that its Snapdragon-powered Copilot+ PCs outperform Apple’s MacBook Air in various aspects. Apple is expected to introduce its own AI apps and services at its WWDC event in response.
Source: YAHOO
Reported 5 months ago
The article highlights over 45 Memorial Day deals on tech products like Apple, Beats, Bose, and more, including discounts on items like Apple AirPods, Samsung Smart TVs, and Beats Studio Pro headphones. Various deals are available on laptops, tablets, headphones, speakers, TVs, smart home devices, and other tech gadgets perfect for the holiday. Discounts range from 24% off Apple AirPods Pro to $1,000 off a Samsung 55-inch Smart TV, offering significant savings across different categories.
Source: YAHOO