Reported about 1 year ago
A failed crypto company, Terraform Labs, and its founder Do Kwon have agreed to a $4.5 billion settlement with the Securities and Exchange Commission after being found guilty of securities fraud. Terraform Labs' stablecoins, Luna and Terra, collapsed in 2022, causing a $40 billion loss in market value. This settlement is part of a trend as other prominent figures in the crypto industry, such as Binance's Changpeng Zhao and FTX's Sam Bankman-Fried, have also faced legal consequences for fraudulent activities.
Source: YAHOO
Reported about 1 year ago
Source: BARRONS
Reported about 1 year ago
The Technology Select Sector SPDR Fund (XLK) is considering a rebalancing due to concerns over market concentration, with giants like Apple, Nvidia, and Microsoft driving market gains. The ETF may need to adjust its portfolio to comply with its rules, potentially impacting the companies and broader markets. Yahoo Finance's Jared Blikre analyzes the implications of this move on individual stocks and the overall market.
Source: YAHOO
Reported about 1 year ago
US stocks surged to fresh all-time highs with the S&P 500 notching its 30th record close of 2024. The S&P 500 rose nearly 0.8%, the Nasdaq Composite climbed almost 1%, and the Dow Jones Industrial Average gained 0.5%. Wall Street analysts have revised their year-end targets for the S&P 500, with Evercore ISI boosting its target to 6,000 and Goldman Sachs to 5,600. Markets await Wednesday's retail sales report for insight into the US consumer's health and watch for signs of interest rate changes, with speculations of only one rate cut in 2024 by Federal Reserve officials.
Source: YAHOO
Reported about 1 year ago
Bank of America raised its rating to Buy for the paper and forest products sector, expressing bullish sentiments towards the industry's outlook and trends. Analysts are optimistic due to an improved market outlook, with BofA Securities analyst George Staphos highlighting the importance of wholesale cardboard boxes in the market, pointing out that 80% of the economy relies on corrugated boxes. Independent box makers surveyed showed a significant increase in growth expectations for the coming quarters, leading to positive forecasts for companies like Greif, Graphic Packaging, and Packaging Corp. of America. While noting that challenges remain, such as inflation, Staphos believes the sector will continue to grow, especially due to e-commerce trends.
Source: YAHOO
Reported about 1 year ago
麥當勞（MCD）正在減少人工智慧的應用，至少在餐車服務方面。這家速食巨頭結束了與 IBM 進行兩年合作的計劃，該計劃使其在駕駛通過口外設置 AI 聽取顧客點餐。雖然 AI 在 100 多家餐廳進行測試，但現在計劃於下個月底將 AI 系統移除。麥當勞表示，他們計劃於年底前做出對未來語音點餐解決方案的明智決定。 IBM 也在與溫迪、哈迪斯和唐恩進行 AI 點餐工作。麥當勞一直對人工智慧感興趣，並表示將加大在硅谷的存在，並聘請更多工程師、數據科學家和技術專家。
Source: YAHOO
Reported about 1 year ago
A recent analysis revealed that while bacon prices have risen by 6.9% and pork chops by 4.6% in the past year, ham prices have actually decreased by 5.4%. This discrepancy is due to differences in demand rather than supply issues. The increase in US ham exports to Mexico has made domestic prices go higher. Additionally, the strategic pricing of bacon in supermarkets, influenced by consumer preferences and sales strategies, contributes to its seemingly higher prices. Despite rising meat prices, preparing meals at home with grocery store ingredients remains more cost-effective than dining out, where menu prices have notably increased.
Source: YAHOO
Reported about 1 year ago
The Centers for Medicare and Medicaid Services announced that they will be ending the advance payments program for Medicare providers affected by disruptions at UnitedHealth's Change Healthcare technology unit. The program was initiated in response to a hack at Change Healthcare by a group called ALPHV, also known as 'BlackCat', which caused medical insurance payment disruptions across the United States. CMS will no longer accept new applications for Change Healthcare/Optum Payment Disruption accelerated or advance payments after July 12. The program has already issued over $2.55 billion in accelerated payments and $717.18 million in advance payments, with over 96% of the payments recovered to date.
Source: YAHOO
Reported about 1 year ago
Lennar Corp在预测第三季度的房屋交付量低于分析师的预期，这表明由于抵押贷款利率处于二十年来的高位，新房需求预计将继续疲软。由于目前的30年固定抵押贷款利率接近7%，许多购房者无法在市场上购买房屋，促使房屋建筑商降低房屋基价，并提供激励措施，如抵押贷款利率补贴或减免房贷利率，以维持销售速度。该公司预计第三季度的房屋交付量将在20,500至21,000之间，处于分析师预期的20,917单位的中点以下。但第二季度每股盈利为3.45美元，超过分析师平均预期的3.24美元。其整体季度营收为87.7亿美元，而预期为85.2亿美元。
Source: YAHOO
Reported about 1 year ago
Apple announced the discontinuation of its 'buy now, pay later' (BNPL) service in the US and revealed plans to introduce a new loan program that will offer installment loans through credit, debit cards, and lenders via Apple Pay. Existing users can still manage their open loans through the Wallet app. The new program aims to provide more flexibility in payment options for users globally in collaboration with Apple Pay-enabled banks and lenders.
Source: YAHOO
Reported about 1 year ago
The Federal Reserve recently stated its decision to hold interest rates after the FOMC meeting, hinting at potential rate cuts. Experts like Neel Kashkari and Charles Evans speculate on the timing of rate cuts, with Evans highlighting the Fed's need for more detailed criteria to gain confidence before initiating cuts. With the economy strong but inflation still a concern, the Fed aims to reach a 2% target before cutting rates, potentially waiting until December post-2024 election. For further insights, the full episode of Market Domination covers expert views on the Fed's monetary policy outlook and rate-cutting decisions. Former Chicago Fed President Charles Evans suggests that the Fed is cautious about the risks and hard decisions ahead, emphasizing the need for clearer signals from the Fed regarding their confidence in reaching their inflation target.
Source: YAHOO
Reported about 1 year ago
Microsoft's Xbox marketing chief, Jerret West, is leaving the company to join Roblox as their chief marketing officer in a broader marketing reorganization. West played a significant role in creating and implementing various marketing campaigns for Xbox, including Game Pass, during his eight years with the company. His departure comes amidst a restructuring in Xbox's marketing department, with a focus on aligning marketing closer to the businesses they support.
Source: YAHOO
Reported about 1 year ago
The Italian film 'We Still Have Tomorrow' won the Snowy Film Award at the Sydney International Film Festival, beating strong competitors from Berlin, Cannes, and Venice Film Festivals and setting a record-breaking box office of 1 billion NT dollars in Italy since the pandemic. The film, directed by Paula CoteriS, adapted her grandmother's life story about post-war Italy, showcasing a housewife who overcame domestic violence to fulfill her dreams. CoteriS won 5 awards, equaling the record set by Roberto Benigni 26 years ago, proving her talents as an actress-turned-director.
Source: YAHOO
Reported about 1 year ago
Anne Hathaway shares her lip-plumping beauty hack in a new 'LipTok' video, where she demonstrates using a hairpin to stimulate blood flow and circulation in her lips for a plumper appearance. Hathaway emphasizes the gentle technique and warns against overdoing it, ensuring safety. This move into beauty influencing follows her recent foray into TikTok with behind-the-scenes glimpses of fashion events, including the popularity-sparking Gap gown moment at a Bulgari event in Rome.
Source: YAHOO
Reported about 1 year ago
The Federal Deposit Insurance Corp's five-member board is expected to vote to downgrade Citigroup's data-management systems rating from 'shortcoming' to 'deficiency,' as reported by the Wall Street Journal. This move is related to concerns regarding Citi's living will, which outlines its unwinding in case of bankruptcy. While the FDIC is considering escalation due to data governance issues, the Fed is not expected to follow suit. Citigroup stated that it has strong financial health and confidence in its resolution capabilities.
Source: YAHOO
Reported about 1 year ago
Source: INVESTORS
Reported about 1 year ago
A wildlife biologist and podcast host in Montana had a close encounter with nature when a grizzly bear unexpectedly emerged and chased a moose away in a campground. The dramatic moment was captured on video and shared online, quickly gaining millions of views. Some speculated the animals were fleeing from a larger threat, but luckily, the biologist survived unharmed to document and share the exciting experience.
Source: YAHOO
Reported about 1 year ago
As Big Tech companies like Nvidia (NVDA) lead the market, Deepwater Asset Management's Managing Partner Doug Clinton shares insights on incorporating Big Tech into investment portfolios and suggests lesser-known stocks to watch like Arista (ANET) in the tech sector. Clinton highlights the strong demand for Ethernet-based products in AI data centers and advises investors on positioning themselves for the AI-driven bull market. By investing in both public and private markets, Clinton sees opportunities in less popular but high-potential areas, emphasizing the value and growth potential of under-the-radar stocks in the tech industry.
Source: YAHOO
Reported about 1 year ago
Italian movie 'We Still Have Tomorrow' won the annual box office champion in Italy, earning a staggering 1 billion NT dollars and setting the highest record since the pandemic. Lead actress and director Paula Cotilles won 5 individual awards, matching the historical record set by Roberto Benigni 26 years ago for 'Life is Beautiful'. The film, based on Cotilles' grandmother's life story, depicts post-war Italy and a housewife's struggle against domestic abuse while taking care of her sick father-in-law and raising three children.
Source: COM
Reported about 1 year ago
During a federal court testimony, NFL Commissioner Roger Goodell defended the league's 'Sunday Ticket' package as a premium product, emphasizing its quality and pricing. Goodell was called as a witness in a class-action lawsuit by subscribers claiming antitrust violations. The lawsuit, covering 2.4 million residential and 48,000 business subscribers, alleges the NFL sold the out-of-market games at an inflated price, restricting competition to satellite providers. If found liable, the damages could reach up to $21 billion. Goodell also discussed the league's broadcasting model, highlighting the importance of reaching a broad audience through free television.
Source: YAHOO
Reported about 1 year ago
Arkansas State Police officers take serious measures to halt fleeing vehicles, including motorcycles, as seen in recent dashcam footage where a trooper uses PIT maneuvers and other tactics to end a chase. Despite warnings from the trooper, the motorcyclist continues to evade at high speeds, risking their life and the safety of others. The pursuit ends with the motorcyclist crashing on a soft shoulder, highlighting the dangers of reckless behavior on the road.
Source: YAHOO
Reported about 1 year ago
花旗銀行 Inc. 正將其最不引人注目的業務放在升級計畫的前沿，旨在展示一個龐大的全球資金轉移系統如何能夠提高盈利能力。花旗銀行首席執行官Jane Fraser和首席財務官Mark Mason於週二在該銀行的曼哈頓總部向投資者展示了這個服務業務 - 該業務是銀行五個新成立的部門之一，去年第四季度佔據了近一半的總利潤。
Source: YAHOO
Reported about 1 year ago
The U.S. Securities and Exchange Commission has filed a lawsuit against a man from Texas, Matthew Brown, over an alleged fraudulent $200 million offer to save Richard Branson's Virgin Orbit. Brown, who falsely portrayed himself as an experienced venture capitalist with investments in over 13 space companies, made a bogus offer to buy Virgin Orbit stock in March 2023. The SEC claims he fabricated a bank account balance, leading to a temporary stock price increase for Virgin Orbit. Brown and his firm deny the allegations, and the SEC is seeking penalties including a ban on offering securities.
Source: YAHOO
Reported about 1 year ago
Source: INVESTORS
Reported about 1 year ago
A federal judge ordered BNSF Railway to pay nearly $400 million to the Swinomish Tribe in Washington state for intentionally trespassing with oil trains. The company violated an easement by running 100-car trains carrying crude oil across the tribe's reservation when only 25 cars per day were allowed. The tribe sued in 2015 after unauthorized increases in train traffic for shipping Bakken crude oil led to environmental concerns. The court ruled BNSF must disgorge $394 million in profits from trespassing, with the tribe expecting an appeal from the company.
Source: YAHOO