Reported 5 months ago
Anglo American Plc has agreed to discuss a potential deal with BHP Group after turning down a third bid of around $49 billion, marking the possibility of the largest mining acquisition in more than ten years. BHP has stated that this offer is their last. Bloomberg's Will Kennedy provides further details on the situation.
Source: YAHOO
Reported 5 months ago
The Boston Celtics displayed maturity and resilience in a chaotic Game 1 win over the Indiana Pacers in the Eastern Conference Finals. Despite struggling at times, Jayson Tatum and Jaylen Brown stepped up when it mattered most, with Tatum scoring 36 points and making critical plays in overtime. The Celtics managed to maintain their composure and capitalize on Pacers' mistakes to secure a hard-fought victory, showcasing their growth and ability to handle pressure situations.
Source: YAHOO
Reported 5 months ago
Nvidia's profit surged in the first quarter, with net income increasing more than sevenfold, reaching $14.88 billion, and revenue more than tripling to $26.04 billion compared to the previous year. CEO Jensen Huang highlighted the company's dominance in AI chips, envisioning the rise of "AI factories" using Nvidia chips to produce artificial intelligence. Nvidia reported earnings per share above analysts' expectations, announced a stock split, and increased its dividend. The company's stock rose 6% in after-hours trading, reflecting its strong performance and position in the market.
Source: YAHOO
Reported 5 months ago
Key commodities are experiencing negative price movements on Wednesday, with crude oil, gold, and copper seeing some downward pressure after recent rallies. Yahoo Finance's Senior Markets Reporter Jared Blikre discusses the latest movements in the commodity market, highlighting the tight trading range of crude oil and the slight dip in copper futures despite near-record highs. The market is closely watching for any decisions by OPEC+ regarding production cuts that could impact oil prices. Gold is trading within a small range near record highs, while silver is also showing similar price movements.
Source: YAHOO
Reported 5 months ago
Swansea City is expected to have a busy transfer window with nine players already departing and potential further exits before the window closes in August. The team is looking to address positions in goal, defense, midfield, and forward, with a focus on finding a new goalkeeper to compete with Andy Fisher, potential defensive changes depending on player sales, and filling gaps in midfield and forward positions. Manager Luke Williams is considering various options, including bringing back loan players, signing new talent, and potentially targeting players like Macaulay Langstaff to strengthen the squad.
Source: YAHOO
Reported 5 months ago
Nishan de Mel, an economist from Sri Lanka, discovered a correlation between poor governance and government defaults, prompting him to propose a unique idea to bond investors that incentivizes governments to improve governance in exchange for reduced interest rates. This proposal is now a key element in Sri Lanka's $12 billion debt restructuring deal, receiving support from major creditors like BlackRock and T. Rowe Price Associates. The governance-linked bond would decrease Sri Lanka's interest rate if certain targets related to tax collection and transparency are met, potentially setting a precedent for addressing governance issues in emerging markets.
Source: YAHOO
Reported 5 months ago
Dolphins coach Mike McDaniel emphasized the importance of being authentic and standing by one's words in the face of political controversies, referencing the recent remarks from Chiefs kicker Harrison Butker. McDaniel advised players to understand the lasting impact of their public statements and to be mindful of the consequences of their actions, highlighting the significance of staying true to one's beliefs in the public sphere.
Source: YAHOO
Reported 5 months ago
Source: INVESTORS
Reported 5 months ago
Khloé Kardashian recently revealed her new "strawberry red" hair on Instagram, showcasing a series of photos in a carousel post captioned "Strawberry Shortcake Vibes." The Kardashian star received positive comments from friends like Paris Hilton and Malika Haqq, with Kylie Jenner's best friend also expressing her admiration for the new look. This isn't the first time Kardashian has experimented with red hair, having previously debuted copper locks in a campaign for Fabletics. Additionally, she shared a post highlighting moments in May, including family snapshots and a quote about happiness.
Source: YAHOO
Reported 5 months ago
Source: INVESTORS
Reported 5 months ago
Third-party presidential candidate Robert F. Kennedy Jr. has invested $24,000 in GameStop (GME) and expressed support for the "ape retail rebellion," aligning with meme stock traders. Despite being a fringe candidate, his move could attract meme stock traders' votes, potentially impacting the 2024 election by drawing support away from Donald Trump or Joe Biden. The investment was announced as part of RFK's campaign strategy to resonate with this specific demographic, reflecting a broader trend of candidates targeting niche investor groups for potential electoral gains.
Source: YAHOO
Reported 5 months ago
A $16 billion hedge fund called Universa, known for mitigating risks during 'black swan' events, warns investors not to get excited about potential Federal Reserve rate cuts as it could coincide with the bursting of what they deem to be "the greatest credit bubble in human history." The fund's CIO, Mark Spitznagel, cautions against viewing rate cuts as positive for risk assets, highlighting concerns about the economy's reliance on low interest rates and the potential for a rapid reversal in markets. Other market analysts, like those at Stifel Investment Bank, foresee a correction in equities due to delayed Fed cuts amidst persistent inflation. Warren Buffett has also been selling stocks, with caution towards market exuberance. Spitznagel advises investors to consider portfolio insurance to safeguard against potential downturns, emphasizing the importance of risk management even while holding stock positions.
Source: YAHOO
Reported 5 months ago
US existing-home sales unexpectedly fell for the second consecutive month in April, indicating a struggle in the resale market due to high prices and borrowing costs. Sales decreased by 1.9% to a 4.14 million annualized rate, below economists' estimates. Limited inventory is keeping prices high, with the median selling price reaching a record high of $407,600. Despite some increase in inventory, the supply remains below pre-pandemic levels, impacting lower and middle-income Americans. The report also highlighted that pending-home sales don't always translate to closings due to various contingencies.
Source: YAHOO
Reported 5 months ago
Global mining giants such as Lundin Mining Corp., Glencore Plc, and First Quantum Minerals Ltd. are increasingly investing in Argentina following reforms introduced by President Javier Milei to attract foreign investment. With a push to develop copper deposits in the Andes, Argentina could potentially become a major copper supplier by 2035, generating significant annual exports and revenue. Milei's pro-business policies, aimed at stimulating economic growth, particularly benefit sectors like mining, which have the potential to drive Argentina's economy. Despite challenges related to environmental and social concerns, the surge in copper prices and a more favorable business climate are making it feasible for mining companies to tap into Argentina's mineral wealth.
Source: YAHOO
Reported 5 months ago
Intercontinental Exchange, Inc., the owner of the New York Stock Exchange, has agreed to pay a $10 million fine to settle allegations by the Securities and Exchange Commission for failing to promptly report a 2021 hack of its systems. The SEC found that ICE did not inform legal and compliance staff about the breach for several days, violating reporting rules. ICE stated that the intrusion had minimal impact, and the settlement did not admit or deny the SEC's findings. The SEC emphasized the importance of immediate reporting in cybersecurity incidents involving critical market intermediaries.
Source: YAHOO
Reported 5 months ago
Shares of Lululemon (LULU) have fallen as the company announced the departure of Chief Product Officer Sun Choe, with Nikki Neuburger taking over as the Chief Brand & Product Activation Officer and Elizabeth Binder as Chief Merchandising Officer. This restructuring raised concerns among analysts about weak demand for current products and potential future changes, as Lululemon's stock has underperformed the market, leading to questions about the company's product line and pricing strategy.
Source: YAHOO
Reported 5 months ago
President Biden is set to forgive an additional $7 billion in student loan debt, benefiting over 160,000 borrowers. The forgiveness includes $5.2 billion for 67,000 borrowers in the Public Service Loan Forgiveness program, $1.9 billion for 39,000 borrowers in income-driven repayment plans, and $613 million for 54,000 borrowers in the SAVE plan. U.S. Secretary of Education Miguel Cardona stated that the Biden-Harris Administration remains committed to providing student debt relief to millions more. This latest forgiveness brings the total to $167 billion forgiven for 4.75 million Americans.
Source: YAHOO
Reported 5 months ago
Source: BARRONS
Reported 5 months ago
Eric Trump was mocked as a "snowflake" for his strong objection to a joke made by MSNBC's Katie Phang on X (formerly Twitter) about his absence from his father's hush money trial in New York that his brother attended. Despite Eric Trump's criticism of Phang's comment, critics highlighted the irony of his reaction given his family's history of making harsh remarks about others.
Source: YAHOO
Reported 5 months ago
The article discusses two growth stocks - MercadoLibre and On Holdings - that have the potential to triple by 2030. MercadoLibre, the largest e-commerce and fintech platform in South America, is experiencing rapid growth in its e-commerce and fintech services, showing promising opportunities for expansion. On Holdings, a premium activewear company known for its cloudTec running shoes, targets an affluent clientele and is experiencing strong growth and profitability. Both companies have solid growth trajectories and could provide significant returns for investors by 2030.
Source: YAHOO
Reported 5 months ago
Supermicro and AMD have introduced new multi-node servers powered by AMD EPYC 4004 Series processors to enhance cloud computing capabilities. Supermicro's MicroCloud multi-node solution supports up to ten nodes in a 3U form factor for cloud-native workloads, allowing for increased computing density and reduced data center TCO. The servers, tailored for small to mid-sized businesses, offer a space-saving design with low power consumption optimized for various applications. Despite missing analyst sales expectations, Supermicro reported strong quarterly sales growth of $3.85 billion, driven by continued demand for AI servers from Tier-2 CSPs and enterprises.
Source: YAHOO
Reported 5 months ago
Intercontinental Exchange Inc (ICE) has agreed to pay a $10 million penalty to settle charges that its subsidiaries failed to promptly notify the Securities and Exchange Commission (SEC) of a cyber intrusion incident discovered in April 2021. The incident involved an unauthorized installation of code into a VPN device, but the delay in reporting the breach violated SEC rules requiring immediate disclosure. ICE, which did not admit or deny the allegations, stated that the attempted network access was unsuccessful and did not impact market operations. The SEC has been emphasizing the importance of timely cybersecurity incident disclosures amid increasing risks of cyberattacks.
Source: YAHOO
Reported 5 months ago
Shares of TJX Companies are up after the company reported a 3% increase in comparable sales and raised its full-year EPS guidance. The retail giant's earnings signal positive consumer spending trends, with heightened demand seen in its home goods store. TJX's results, in line with expectations, show strong gross margins and optimism for future growth opportunities. Customer transactions were a key driver of sales growth, reflecting consumer interest in value offerings and discounts.
Source: YAHOO
Reported 5 months ago
Jessica Lange discusses her latest roles in the HBO film "The Great Lillian Hall" and the Broadway play "Mother Play," where she plays complex characters facing emotional turmoil. Lange reflects on her career, including her successful collaborations in "American Horror Story" and previous highs and lows in Hollywood, noting her upcoming projects and potential retirement plans amid a changing film industry landscape.
Source: YAHOO
Reported 5 months ago
Deadline has published movie reviews from the Cannes Film Festival 2024, including the Palme d’Or winner "Anora," a New York-set romantic dramedy about a Brooklyn stripper who transforms into a modern Cinderella. Other films reviewed include "The Apprentice," "Armand," "Bird," "Emilia Pérez," "Furiosa: A Mad Max Saga," and "Megalopolis," among many others, each providing unique insights and takeaways from the festival.
Source: YAHOO