Reported 11 days ago
Rivian's stock rose over 15% following the announcement of a $5.8 billion investment from Volkswagen, aimed at enhancing their joint venture focused on electric vehicle technology. This strategic funding arrives as Rivian seeks to improve profitability and expand its offerings with an affordable R2 SUV amidst ongoing challenges like parts shortages and increasing competition in the EV market. The partnership is expected to alleviate some capital concerns for Rivian and position it favorably against rivals, despite uncertainties in U.S. EV policy.
Source: YAHOO
Reported 11 days ago
Sirius XM, a holding of Berkshire Hathaway, has faced recent challenges, including a decline in subscribers and revenue, leading to skepticism about its future. However, with plans for overhauling its programming, expanding advertising options, and improving content offerings, investors may see a rebound starting in 2025. Despite current struggles, Warren Buffett remains confident in the company, suggesting it could offer significant long-term value as recovery efforts take hold.
Source: YAHOO
Reported 11 days ago
A tragic explosion at Givaudan Sense Colour factory in Louisville, Kentucky, resulted in the deaths of two employees and injuries to ten others. The explosion caused a partial collapse of the building, shattering windows in nearby homes and businesses. Emergency responders quickly arrived, locating the victims despite the unstable conditions. Local officials expressed deep condolences to the families affected, and an investigation into the cause of the explosion is underway.
Source: YAHOO
Reported 11 days ago
South Korean police have arrested 215 individuals suspected of orchestrating a $228 million cryptocurrency investment scam, the largest in the country's history. The suspects, including the alleged leader of the crime ring, are accused of selling 28 different virtual tokens to about 15,000 investors by promising high returns. Authorities described these tokens as 'worthless' and stated that the group had established investment consultancy firms to promote their fraudulent assets.
Source: YAHOO
Reported 11 days ago
Loblaw Companies, a major Canadian supermarket retailer, reported that its third-quarter revenue fell short of expectations due to weak demand for non-essential household items and electronics, as consumers reduced discretionary spending despite easing inflation. The company recorded a slight increase in revenue to C$18.54 billion, compared to analyst predictions of C$18.65 billion, and same-store sales in food retail only grew by 0.5%. However, Loblaw's discount brands saw better performance, and its adjusted earnings per share exceeded expectations.
Source: YAHOO
Reported 11 days ago
Realty Income and Toronto-Dominion Bank are highlighted as two attractive investments for those seeking decades of passive income through dividends. Realty Income, a real estate investment trust, offers a solid 5.5% dividend yield and a track record of annual increases for 30 years, while Toronto-Dominion Bank provides a 5.2% yield with a diversified business model and a history of continuous dividend payments since 1857. Both stocks demonstrate the importance of looking beyond yield for sustainable income.
Source: YAHOO
Reported 11 days ago
An explosion at a factory in Louisville, Kentucky, has resulted in the deaths of two employees, as confirmed by the company.
Source: YAHOO
Reported 11 days ago
Brazil is grappling with a gambling crisis as 52 million people partake in betting, driven by the lure of quick wealth amidst poverty. The recent surge in online gambling has led to alarming levels of debt, with interest rates on loans reaching up to 400%. Government officials are raising concerns over the growing vulnerabilities of citizens, prompting calls for stricter regulations in the betting industry.
Source: YAHOO
Reported 11 days ago
Marc Rowan, Co-Founder and CEO of Apollo Global Management, argues that to stimulate the US economy, the new administration must embrace significant changes rather than small policy adjustments. Highlighting the role of figures like Elon Musk during the Trump administration, he emphasizes that real progress requires an acceptance of wholesale change, which many may find daunting.
Source: YAHOO
Reported 11 days ago
The article highlights three innovative companies, IonQ, CRISPR Therapeutics, and Archer Aviation, that are poised for significant growth in their respective fields: quantum computing, gene editing, and electric aviation. The author plans to invest $75,000 over five years, with each company receiving a $25,000 stake. These firms are leading advancements in their industries and represent compelling opportunities for long-term investors, despite the associated risks of emerging technologies.
Source: YAHOO
Reported 11 days ago
Prosus, the Dutch technology investor, aims to take Indian digital payments firm PayU public in 2025 after facing regulatory delays and setbacks. Despite initial hopes for a late 2024 listing, Chief Investment Officer Ervin Tu indicated that ongoing developments may push this timeline. Prosus currently owns 100% of PayU, which has recently resumed operations as a payment aggregator amidst a rapidly growing digital payments market in India.
Source: YAHOO
Reported 11 days ago
Amazon and IKEA are partnering with around 36 other companies to encourage shipping firms to use near-zero emissions e-fuels for ocean freight. This initiative, led by the Zero Emissions Maritime Buyers Alliance, aims to create demand for e-fuels produced from renewable energy and carbon dioxide, essential for achieving net-zero greenhouse gas emissions in the shipping industry by 2050. The alliance plans to invite bids for contracts that will commence in 2027, potentially leading to substantial reductions in greenhouse gas emissions.
Source: YAHOO
Reported 11 days ago
Source: INVESTORS
Reported 11 days ago
Source: INVESTORS
Reported 11 days ago
Wall Street's main indexes saw slight gains after consumer price inflation data met expectations, keeping the Federal Reserve on track for a potential interest rate cut in December. The consumer price index rose 0.2% in October, matching forecasts, which eased concerns and elevated hopes for a 25-basis point rate cut, reflected in an 82% probability after the data release. While small-cap companies and the real estate sector performed positively, shares of Spirit Airlines fell sharply amidst bankruptcy speculation.
Source: YAHOO
Reported 11 days ago
The US Supreme Court is reviewing Nvidia's appeal to dismiss a securities fraud lawsuit, which accuses the AI chipmaker of misleading investors about its sales linked to the cryptocurrency market. The case addresses the legal standards for private securities fraud suits under the 1995 Private Securities Litigation Reform Act, with justices expressing concerns about setting a high bar for plaintiffs and the complexities involved. The outcome could affect future litigation against companies accused of securities fraud.
Source: YAHOO
Reported 11 days ago
President Tayyip Erdogan indicated that Turkey is open to collaborating with Elon Musk on technology, highlighting the importance of cooperation in advancing the tech field. This statement came during a flight back from Baku, where he discussed potential joint efforts if opportunities arise.
Source: YAHOO
Reported 11 days ago
The leadership at the U.S. Federal Trade Commission (FTC) is poised for a change as the Trump administration prepares to take over, raising questions about the future of Chair Lina Khan, known for her pro-consumer stance. While Khan's term has ended, she may remain until a replacement is found, likely soon after Trump's inauguration. The appointment process for her successor will require Senate confirmation, and potential candidates include Gail Slater and current Republican commissioners. The shift in leadership also poses uncertainties regarding the continuation of Khan's initiatives and rules, especially with a Republican-controlled Congress.
Source: YAHOO
Reported 11 days ago
Eurex Clearing AG has delayed the launch of a new futures contract linked to European Union debt, undermining the bloc's strategy to enhance bond trading. The exchange indicated that the EU's bond program needs to prove its long-term sustainability beyond 2026 before proceeding. This postponement marks a setback in the EU's attempts to establish its bonds alongside those of individual member states, as the bloc currently lacks plans for additional debt issuance beyond that year.
Source: YAHOO
Reported 11 days ago
U.S. stock futures showed slight gains as investors awaited crucial inflation data for October, which indicated a steady increase to 2.6%. Despite earlier declines, the S&P 500 and Dow Jones Industrial Average rebounded post-data release, pushing expectations for a potential rate cut by the Federal Reserve. However, concerns linger regarding mounting valuations in the wake of significant political outcomes that could impact future economic conditions.
Source: YAHOO
Reported 11 days ago
Source: YAHOO
Reported 11 days ago
Over 30 trade groups from the energy, farming, and transport sectors have expressed concerns that the absence of US government guidance on tax credits could lead to higher fuel prices for Americans. They are urging Congress to extend expiring credits, such as the longstanding biodiesel tax incentive, to ensure market stability as the industry awaits clarity on new incentives that will take effect in January. The uncertainty accompanying the transition between administrations is complicating planning for energy and agriculture sectors.
Source: YAHOO
Reported 11 days ago
Goldman Sachs analysts have highlighted KinderCare Learning Companies (KLC) and LivaNova (LIVN) as two stocks with significant growth potential in the post-election investment landscape. KinderCare, a new public entity focused on early childhood education, is expected to benefit from rising demand and increasing occupancy rates, while LivaNova, a leader in medical devices, is set for long-term growth through its innovative neuromodulation technologies. Both companies are rated as Buys with promising upside targets.
Source: YAHOO
Reported 11 days ago
OpenAI, Google, and Anthropic are experiencing significant challenges in advancing their AI technologies. OpenAI's new model, Orion, failed to meet performance expectations, particularly in coding tasks, while Google and Anthropic also reported issues with their upcoming models. The companies are struggling to find high-quality training data and justify the hefty costs of developing new systems. Despite these hurdles, experts suggest that breakthroughs may hinge on exploring diverse training approaches rather than relying solely on traditional scaling methods.
Source: YAHOO
Reported 11 days ago
Just Eat Takeaway has announced the sale of its U.S. subsidiary Grubhub to food-delivery startup Wonder for $650 million, a significant loss compared to the $7.3 billion they paid in 2020. This move, aimed at boosting their finances and focusing on stronger markets in Europe, has led to a 20% surge in their shares. The company plans to use proceeds to enhance investments in more profitable regions, although they may need to exit other markets to align with European competitors.
Source: YAHOO