Reported 8 days ago
Netflix returned to normal service on Saturday following a six-hour outage that impacted over 90,000 users in the United States. The disruption coincided with a peak viewing time for a boxing match, illustrating the strain on the platform during high-traffic events. By early Saturday, fewer than 100 user reports of issues were recorded, according to Downdetector.
Source: YAHOO
Reported 8 days ago
Gina Rinehart, Australia's wealthiest person and a mining magnate, has notably embraced Donald Trump and his ideologies, attending his events and aligning her business practices with pro-business policies. Recently, she celebrated Trump's election victory at his Mar-a-Lago estate, where she interacted with influential figures like Elon Musk. Rinehart is a polarizing figure in Australia, known for her influential mining company and substantial wealth, but also for her contentious family history and outspoken views on economic policies.
Source: YAHOO
Reported 8 days ago
Source: BARRONS
Reported 8 days ago
Bluesky, a burgeoning social media platform developed from the remnants of Twitter, is attracting dissatisfied X users seeking a friendlier alternative. Founded by ex-Twitter CEO Jack Dorsey, Bluesky has grown from an invite-only service to a public platform, amassing 15 million users amid criticism of X's content management. Users appreciate Bluesky's chronological feeds and absence of advertisements, reminiscing about Twitter's earlier atmosphere. The platform not only aims to compete with X but is also working on an interoperability protocol to connect diverse social networks, challenging the siloed nature of current Big Tech platforms.
Source: YAHOO
Reported 8 days ago
T-Mobile's network was breached in a significant cyber-espionage operation attributed to Chinese hackers, as reported by The Wall Street Journal. The attack aimed to spy on high-value targets within the telecommunications industry, but T-Mobile indicated it has not seen significant impacts on its systems or customer data. The breach is part of a broader pattern of Chinese cyber activities involving multiple U.S. telecom companies.
Source: YAHOO
Reported 8 days ago
Supermicro's stock saw a significant surge of over 18% in extended trading after reports indicated the company plans to file its delayed annual report by Monday, potentially avoiding delisting from Nasdaq. Following a warning from Nasdaq regarding its delinquent report, Supermicro faced challenges due to regulatory concerns and allegations of accounting manipulation, leading to a 34% decline in its stock for the year.
Source: YAHOO
Reported 8 days ago
Variable annuities are complex financial products designed to provide retirement income, with their value linked to underlying investments like stocks and bonds. While they offer potential growth and taxable deferred earnings, they come with high fees, market risks, and complex structures that may not suit all investors. It's crucial to thoroughly assess your financial strategy, comprehend associated costs, and consult with a financial advisor before purchasing a variable annuity.
Source: YAHOO
Reported 8 days ago
China's efforts to establish the yuan as a powerful global currency may face significant challenges with Donald Trump's anticipated return to office. Analysts predict that the yuan could decline against the dollar amid fears of a renewed trade war, with estimates suggesting it might even dip below long-standing lows. The People's Bank of China is poised to support the yuan, but if tariffs increase under Trump, a controlled depreciation could be on the horizon to bolster exports. Overall, China's currency stability is crucial for its international financial ambitions, and any drastic changes could provoke further economic tensions.
Source: YAHOO
Reported 8 days ago
Elon Musk's growing political influence is raising optimism among Wall Street banks, which are eager to unload $13 billion of debt tied to Musk's acquisition of the social media platform X (formerly Twitter). With Musk now closer to Republican President-elect Donald Trump, banks believe that X's prospects may improve, boosting their chances of selling the debt without incurring significant losses. Despite recent fluctuations in user activity and accounting for a decrease in value, banks are contemplating their next steps regarding the debt as financial reports emerge.
Source: YAHOO
Reported 8 days ago
A federal judge in Texas has blocked a Biden administration rule aimed at expanding overtime pay eligibility for millions of salaried workers. Judge Sean Jordan sided with Texas and business groups, claiming the Labor Department exceeded its authority. The rule was set to increase overtime eligibility for workers earning below $43,888, with a planned rise to $58,656 next year, impacting up to 4 million additional workers. As a result of the ruling, the previous threshold of $35,568 from the Trump administration will remain in effect.
Source: YAHOO
Reported 8 days ago
Susan Collins, President of the Federal Reserve Bank of Boston, stated that she anticipates inflation will return to the central bank's 2% target despite potential month-to-month volatility. Speaking after a conference, she noted that while there may be fluctuations, she doesn't foresee new price pressures and mentioned that monetary policy remains restrictive. An interest rate cut is still possible in December, dependent on upcoming data.
Source: YAHOO
Reported 8 days ago
Following a directive from the Canada Industrial Relations Board, unions are returning to work at major Canadian ports, including the Port of Montreal, as labor disputes are sent to binding arbitration. Longshore workers in British Columbia have also resumed operations after a government-ordered end to a lockout. The ongoing disputes had a detrimental impact on the economy, prompting intervention from the government to restore trade functions at the ports.
Source: YAHOO
Reported 8 days ago
根據路透社報導，Fitch Ratings於週五將Spirit Airlines的長期信用評級從'CCC'降至'CC'，預示該低成本航空可能面臨近期違約的風險。該航空公司正在與債權人進行談判，尋求提高流動性，但因虧損紀錄等原因，客戶可能會轉向其他航空公司，進一步加速其現金流出。Fitch預計2024年的現金流出將達6億美元，同時指出Spirit因與RTX的普惠引擎問題而受到影響，未來的不確定性將影響其航班運作能力。
Source: YAHOO
Reported 8 days ago
Equinox has announced a data breach impacting the personal health information of some current and former clients and staff. Discovered on April 29, the breach involved unauthorized access to internal files, potentially compromising sensitive data such as names, social security numbers, and financial details. The company has alerted affected individuals and implemented improved security measures to prevent future incidents.
Source: YAHOO
Reported 8 days ago
In his analysis, Michael Rudolph discusses how tariffs, often viewed negatively, can actually benefit U.S. manufacturing by balancing trade deficits and strengthening the dollar. He references Stephan Miran's paper which argues that with proper implementation, tariffs can serve multiple economic purposes without causing inflation. Despite the challenges and complexities involved, tariffs could provide a financial avenue that aids domestic industries while generating revenue for the U.S. Treasury, thus enriching the average American.
Source: YAHOO
Reported 8 days ago
JPMorgan Chase & Co. has been upgraded by S&P Global Ratings, reflecting its resilience in navigating economic challenges and significant market share growth over the past decade. The firm’s long-term issuer credit rating was adjusted to A with a stable outlook, largely due to its robust market positioning and strong profitability, which exceeded previous records. S&P emphasized the benefits of JPMorgan's diverse operations and strategies for future growth, while also noting the continued importance of regulations in assessing the bank's stability.
Source: YAHOO
Reported 8 days ago
ARC Global Investments, a major shareholder in Trump Media, has sold nearly all of its stake according to a recent regulatory filing, reducing its ownership from over 5% to about 0.01%. This comes after legal rulings related to stock agreements and follows the departure of Patrick Orlando, former CEO of the company that facilitated Trump Media's public launch. U.S. President-elect Donald Trump retains a significant shareholding in Trump Media.
Source: YAHOO
Reported 8 days ago
Source: BARRONS
Reported 8 days ago
Despite falling short of earnings expectations in Q3, Plug Power CEO Andy Marsh remains optimistic about the company's future, focusing on securing funding for new hydrogen plants in Georgia and Texas. Marsh emphasized the company's unique position in the market as both a hydrogen producer and user, highlighting their leadership in green technology.
Source: YAHOO
Reported 8 days ago
Super Micro Computer faces significant challenges following Ernst & Young's resignation as its auditor due to concerns over the company's management and integrity. With Deloitte's prior audit reports now under scrutiny, the server maker is at risk of defaulting on credit agreements and potentially facing a Nasdaq delisting. Super Micro's ability to recruit another reliable auditor is imperative as the company navigates investigations into past financial practices, raising uncertainty about its financial future.
Source: YAHOO
Reported 8 days ago
In El Salvador, Bitcoin enthusiasts are optimistic following a significant increase in the cryptocurrency's value since Donald Trump's election victory. At the Adopting Bitcoin conference, investors expressed hopes for broader adoption as they highlighted El Salvador's role as a digital currency hub, especially after its decision to make Bitcoin legal tender. The cryptocurrency surged to over $90,000 amidst expectations that Trump will ease regulations, further boosting confidence in Bitcoin's growth and El Salvador's prominence in the global market.
Source: YAHOO
Reported 8 days ago
LaserShip Inc., backed by American Securities, has finalized a debt-restructuring agreement that provides approximately $300 million in fresh funds, allowing certain creditors to prioritize their repayments ahead of others. The deal includes provisions for a mix of senior and junior-ranking debts for creditors and offers the option for in-kind interest payments, reflecting a trend among distressed companies to negotiate better terms for select investors.
Source: YAHOO
Reported 8 days ago
Source: BARRONS
Reported 8 days ago
Zhu Min, a former senior official of China's central bank, stated that China would retaliate if President-elect Donald Trump imposes a 60% tariff on its imports. In an interview, he emphasized that such tariffs would adversely affect the Chinese economy, impacting currency exchange rates and reducing demand for U.S. Treasury securities. Zhu mentioned the importance of both nations negotiating to avoid escalating trade tensions, which could harm their economies.
Source: YAHOO
Reported 8 days ago
Yahoo Finance reports on significant capital inflows into the stock market totaling $100 billion, highlighting three key takeaways from the trading session. The analysis focuses on future Federal Reserve monetary policy for 2025 and identifies market sectors likely to thrive in the upcoming year.
Source: YAHOO