Reported 10 days ago
Southern Bancorp CEO Darrin Williams discusses his mission to enhance capital accessibility for underserved communities, emphasizing his role in fostering financial inclusivity in an interview at the Yahoo Finance Invest conference.
Source: YAHOO
Reported 10 days ago
In a special episode of Financial Freestyle, Southern Bancorp CEO Darrin Williams emphasizes the essential role of budgeting in achieving financial freedom. He advocates for financial inclusion, highlighting how access to capital is crucial for families to build wealth and realize their dreams. Williams, whose journey in finance began through community education, believes budgeting is the first step towards understanding spending habits and managing debt, which are key components to financial well-being.
Source: YAHOO
Reported 10 days ago
Car buyers are facing higher costs, with the average new vehicle price reaching $47,000, but there is positive news as new vehicle incentives are reintroduced to the market ahead of the holiday season. As used car prices rise and consumers have to allocate more of their budgets for vehicles, Edmunds' Jessica Caldwell highlights that these incentives could make purchasing a car more affordable, especially with increased advertising around Black Friday and year-end sales.
Source: YAHOO
Reported 10 days ago
Analysts at the Institute of International Finance have warned that Donald Trump's tax cut plans could cause the US national debt to rise from about 100% of GDP to over 135% within a decade. This increase could trigger inflation as Trump's policies, including tariffs on imported goods and tax-free incomes from overtime and tips, stimulate spending while raising import costs. The warning comes amid rising long-term borrowing costs as investors express concerns over the sustainability of expanding debt amidst these projected fiscal policies.
Source: YAHOO
Reported 10 days ago
Yahoo Finance's Tech Editor Dan Howley examines Apple’s new 16-inch MacBook Pro in detail, discussing its features, pricing starting at $1599, the integrated intelligence capabilities, and the specific M4 chip variants for each model in the updated lineup.
Source: YAHOO
Reported 10 days ago
Liberty Media aims to enhance its focus on motorsports by spinning off most of its other assets and appointing Chairman John Malone as interim CEO following Greg Maffei's transition to a senior advisory role. The company plans to retain its Formula One and MotoGP subsidiaries while splitting its Liberty Live Group into a separate public entity. This restructuring is expected to simplify capital structures and improve trading liquidity.
Source: YAHOO
Reported 10 days ago
Dogecoin, originally created as a joke in 2013, has evolved into a significant cryptocurrency. If an investor had put $100 into Dogecoin at its launch, it would be worth approximately $119,545 today due to incredible price growth, despite not reaching its all-time high of $0.7376 in 2021. The coin received considerable support from notable figures like Elon Musk and Mark Cuban, contributing to its popularity and acceptance in various platforms. With current optimism surrounding its future, Dogecoin remains prominent in the cryptocurrency landscape.
Source: YAHOO
Reported 10 days ago
October's Consumer Price Index data indicates rising inflation, which poses challenges for homebuilders facing increased material costs and housing prices. Despite these pressures, optimism in the sector is strong, with predictions of 8% growth in consumer spending for 2025. Bill Darcy, CEO of the National Kitchen & Bath Association, notes that homeowners continue to prioritize spending on homes amid inflation uncertainties, hinting at increased activity in new home construction as interest rates stabilize around 5%.
Source: YAHOO
Reported 10 days ago
The Supreme Court appears poised to allow a class-action lawsuit against Nvidia, with investors accusing the tech company of misleading them about its reliance on crypto mining for revenue. During the hearing, justices questioned Nvidia's arguments for dismissing the case stemming from a 2018 lawsuit led by a Swedish investment firm, which followed a drop in the company's stock price due to declining cryptocurrency profitability. The company argues the lawsuit violates a 1995 law meant to eliminate frivolous claims, while the government supports the investors. A decision is anticipated by early summer.
Source: YAHOO
Reported 10 days ago
US stocks ended mixed as the Dow Jones increased slightly while the Nasdaq Composite dipped by 0.3% on Wednesday. Investor sentiment was influenced by inflation data signaling the Federal Reserve is likely to cut interest rates again in December. Consumer prices rose as expected, and bitcoin briefly hit a record high of over $93,000, reflecting a continuing bullish sentiment post-election.
Source: YAHOO
Reported 10 days ago
EU antitrust regulators are examining Novo Holdings' $16.5 billion acquisition of Catalent, seeking feedback from competitors and customers to address potential anti-competitive concerns. This inquiry follows Novo's request for EU approval, aiming to enhance the production of its weight-loss drug Wegovy. The European Commission has set a December 6 deadline for preliminary review, with potential remedies due by November 29. The regulatory process highlights the competitive landscape in the booming obesity treatment market, projected to reach $150 billion by the 2030s.
Source: YAHOO
Reported 10 days ago
Just Eat Takeaway.com has agreed to sell Grubhub for $650 million, significantly lower than the $7.3 billion it paid for the food delivery platform just three years ago. The buyer, Wonder Group, will pay $150 million in cash and $500 million in notes. Just Eat aims to focus on growth in regions where it is most competitive. The deal is anticipated to finalize in early 2025 pending regulatory approvals.
Source: YAHOO
Reported 10 days ago
Wildfires across New York and New Jersey highlight a growing threat fueled by climate change and historical land-use practices. The region is experiencing severe drought, leading to heightened fire risks as invasive species proliferate in overgrown landscapes. As officials respond to record levels of wildfires, which have recently surged by 1,300% compared to last year, the region confronts significant ecological and health challenges, emphasizing the urgent need for water conservation and strategic land management.
Source: YAHOO
Reported 10 days ago
AMD is laying off 4% of its global workforce, approximately 1,000 employees, in a shift towards AI chip development to compete with Nvidia. The company saw significant revenue growth in its data center segment, where its AI graphics processors reside, while struggling in its gaming unit. Analysts predict strong growth for AMD’s data center business in 2024, as it plans to begin mass production of its new AI chip, MI325X, by year-end. However, rising research and development expenses have put pressure on AMD's stock performance this year.
Source: YAHOO
Reported 10 days ago
Meta Platforms intends to introduce advertisements on its Threads social media app in early 2025, as reported by The Information. The app, launched in July 2023 to rival X (formerly Twitter), has gained significant traction with 275 million monthly active users. Although a small number of advertisers will be allowed to create ads starting in January, Meta CFO Susan Li stated that Threads is not expected to significantly contribute to revenue in 2025. Furthermore, Meta is focusing on enhancing consumer value before monetization.
Source: YAHOO
Reported 10 days ago
D.E. Shaw, a major hedge fund, has taken a €1.02 billion ($1.08 billion) short position against Bayer, as revealed in a regulatory filing. This move follows Bayer's recent earnings report, which showed a disappointing profit and warnings of continuing weak agricultural markets, leading to a significant decline in its share price to a 20-year low.
Source: YAHOO
Reported 10 days ago
President-elect Donald Trump claims that his mass deportation plans will improve the housing market and reduce home prices. However, Yahoo Finance housing reporters explore how migrant workers and immigration can actually be beneficial to the construction industry and the overall housing market.
Source: YAHOO
Reported 10 days ago
President-elect Donald Trump has appointed Elon Musk and Vivek Ramaswamy to lead the newly proposed 'Department of Government Efficiency (DOGE)', aimed at reducing regulations and government spending. Columbia Law School professor John C. Coffee warns of potential conflicts of interest due to Musk's business ties and suggests operational changes are necessary for compliance. The regulatory landscape, particularly regarding the SEC and FTC, may also see significant shifts under Trump's administration.
Source: YAHOO
Reported 10 days ago
Spotify's recent rise in stock price follows better-than-expected third quarter earnings, but analyst David Trainer warns that its valuation is unsustainable. He argues that to justify its current price, Spotify would need revenues of about $650 billion, almost twice the size of the entire music streaming industry. Trainer highlights the significant risk of investing in such an overpriced stock, indicating a potential larger downside if the current momentum falters.
Source: YAHOO
Reported 10 days ago
In October 2024, the Consumer Price Index indicated a slight increase in food inflation, with rates at 0.2% month-over-month and 2.1% year-over-year. However, Cal Poly agribusiness professor Ricky Volpe predicts that overall grocery prices will decrease in real terms in 2025, suggesting a shift towards normalcy in consumer spending on food despite challenges in certain categories like beef and pork.
Source: YAHOO
Reported 10 days ago
In October, consumer prices rose by 2.6%, indicating a slight increase from the previous month, suggesting inflation is trending downward but still poses considerations for the Federal Reserve's next move. With solid consumer spending and hiring, the Fed is likely to proceed with a rate cut in December, yet officials may debate slowing the pace of cuts in the early part of the next year. Although inflation remains under pressure, Fed leaders stress caution to avoid overcorrection in an uncertain economic landscape.
Source: YAHOO
Reported 10 days ago
Dogecoin has seen a remarkable increase in value following Donald Trump's recent presidential election victory and the announcement of a new Department of Government Efficiency, humorously acronymed DOGE, led by Elon Musk. Initially valued under 16 cents, Dogecoin has more than doubled, driven by growing interest in cryptocurrencies as Trump aims to position the U.S. as a global crypto hub. The connection to Musk, a notable Dogecoin supporter, has also contributed to the cryptocurrency's rising popularity.
Source: YAHOO
Reported 10 days ago
Nigeria has signed a $1.2 billion agreement with the Chinese state-owned company CNCEC to revitalize a gas processing facility, aiming to boost its aluminum production capabilities. The deal is expected to reinvigorate the gas plant linked to the Aluminum Smelter Company of Nigeria. This investment comes amid Nigeria's ongoing economic challenges, including high inflation and currency depreciation, despite its status as a significant oil producer.
Source: YAHOO
Reported 10 days ago
Italy’s government is selling a 7% stake in Banca Monte dei Paschi di Siena, with Banco BPM likely to be a primary buyer. This sale is part of a broader restructuring initiated in 2017, aiming to reduce state ownership in the bank to below 20%. Monte Paschi, which has faced significant financial challenges since 2009, has recently shown signs of recovery, including a return to dividend payments.
Source: YAHOO