Reported 11 days ago
In a recent interview, IBM CEO Arvind Krishna emphasized the need for businesses to integrate artificial intelligence, stating that companies that fail to do so will be at a significant disadvantage. He highlighted that investments in AI and automation are expected to rise, driven by labor market challenges and policy changes. Krishna also defended IBM's AI spending, noting its generative AI business has reached over $3 billion, and forecasted a future where AI becomes essential across all business operations.
Source: YAHOO
Reported 11 days ago
Economist Judy Shelton suggested at the Yahoo Finance Invest conference that the rising cryptocurrency prices indicate a growing distrust in government-managed money rather than being solely influenced by political events. She believes this decentralized finance movement is a necessary challenge to the dollar's status as legal tender and supports innovations in alternative currencies, while remaining critical of central bank digital currencies.
Source: YAHOO
Reported 11 days ago
Source: INVESTORS
Reported 11 days ago
Anheuser-Busch InBev's CEO Michel Doukeris affirmed that Bud Light sales have stabilized following a tumultuous year marked by a backlash over a marketing partnership with a transgender influencer. While the beer market as a whole is experiencing declines, Doukeris highlighted the company's commitment to its American roots and workforce. He announced a new stock buyback plan and reported an improvement in operating profit margins, indicating a cautiously optimistic outlook for the brand moving forward.
Source: YAHOO
Reported 11 days ago
Source: INVESTORS
Reported 11 days ago
Starting in 2025, a new higher catch-up contribution limit for 401(k) plans will allow savers aged 60 to 63 to contribute up to $34,750, potentially reshaping retirement savings strategies for many. This increase is part of the SECURE 2.0 Act, which significantly alters retirement savings rules and offers enhanced saving options for those nearing retirement. Understanding these changes is crucial for employees, especially higher earners, as new Roth contribution requirements may come into effect in 2026.
Source: YAHOO
Reported 11 days ago
An explosion at Givaudan Sense Colour in Louisville, Kentucky, injured at least 11 employees, with two in critical condition. The blast shattered windows and caused structural damage in the surrounding area. Authorities are investigating the cause while ensuring the safety of nearby residents.
Source: YAHOO
Reported 11 days ago
The United States is investigating UBS for Russian accounts it took over from Credit Suisse amid rising scrutiny of the bank's handling of potentially problematic clients. The inquiry, led by the Office of Foreign Assets Control (OFAC), comes in the wake of severe sanctions due to Russia's actions in Ukraine. UBS is actively reviewing its clients and attempting to isolate suspect accounts to mitigate penalties, while regulators in Switzerland express concerns about UBS managing risky clientele.
Source: YAHOO
Reported 11 days ago
Macy's CEO Tony Spring expressed ambition to reshape the iconic department store into a marketplace, aiming to compete with e-commerce giants by offering a variety of product categories, including cosmetics and electronics. As the retailer faces declining sales and strives to attract younger consumers, the 'Bold New Chapter' initiative involves closing underperforming stores while enhancing the shopping experience in others. With plans to improve digital strategy and marketing, the company seeks to regain market share, although challenges remain amid a shifting retail landscape.
Source: YAHOO
Reported 11 days ago
Blackstone Group is investing $300 million in Brigade Capital to enhance its private credit strategy and collateralized loan obligations (CLO) platform. This funding, divided equally between new private credit initiatives and existing CLO operations, aims to capitalize on opportunities in the lower middle market, where Brigade plans to focus its efforts. Brigade, a well-established player in credit investments with around $28 billion in assets, seeks to leverage the growing private credit market, which has seen significant non-bank lending.
Source: YAHOO
Reported 11 days ago
In an interview with Yahoo Finance, Chris Licht, the former Chairman and CEO of CNN Worldwide, reflects on the challenges facing the news media as Donald Trump returns to the presidency. He expresses concerns over the merging of opinion and fact in traditional media, emphasizing the need for clearer distinctions to avoid societal repercussions. As he contemplates his next steps, Licht indicates a desire to engage in work that is meaningful and enjoyable.
Source: YAHOO
Reported 11 days ago
Karen Karniol-Tambour, co-chief investment officer at Bridgewater Associates, expressed that while the stock market has 'room to run' following recent highs, investors shouldn't rush to buy more stocks due to their increased exposure and insufficient diversification. She recommends considering bonds, gold, or commodities to better prepare for potential economic shocks or inflation. Karniol-Tambour highlighted the similarities with the stock market in 1998, noting the importance of maintaining a balanced portfolio amidst a positive outlook.
Source: YAHOO
Reported 11 days ago
Roberto Perli, a top official at the New York Federal Reserve, stated that despite recent market volatility, money market liquidity remains strong, allowing the Fed to continue its balance sheet reduction. He emphasized that current pressures observed at quarter-end are not due to a lack of reserves, and the Fed's quantitative tightening strategy, which has decreased its bond holdings from $9 trillion to $7 trillion, is proceeding as planned. Perli reassured that monitoring of market conditions continues, with no immediate risks identified to the effectiveness of monetary policy.
Source: YAHOO
Reported 11 days ago
Source: INVESTORS
Reported 11 days ago
Volkswagen AG has increased its investment in Rivian Automotive Inc. by $800 million, enhancing their multibillion-dollar partnership dedicated to developing battery-powered vehicles. The collaboration, aimed at creating advanced software-defined vehicles, comes amid a decline in global EV demand and potential policy changes under the upcoming Trump administration. Rivian's shares saw a rise following the announcement, and the joint venture expects to accelerate its plans for vehicle launches by 2027.
Source: YAHOO
Reported 11 days ago
Source: WSJ
Reported 11 days ago
Greg Brockman, co-founder of OpenAI, has returned to the company after a three-month leave, amid a series of executive departures. He is set to work alongside CEO Sam Altman on technical challenges, reaffirming his role in the C-suite during a turbulent time for the organization.
Source: YAHOO
Reported 11 days ago
Michael Mager, CEO of Precision Neuroscience, discusses the potential of their brain-computer interface (BCI) to significantly improve the lives of severely paralyzed patients. Their device, the Layer 7 Cortical Interface, features a minimally invasive design and aims to connect users to the digital world without high risks associated with traditional implants. With growing support and expected FDA clearance, Precision hopes to expand its reach to thousands of patients, differentiating its mission from Neuralink's broader enhancement goals.
Source: YAHOO
Reported 11 days ago
After Donald Trump's election victory, traders are ramping up bearish bets in the Treasury market, anticipating that his proposed policies will reignite inflation and keep interest rates elevated. This trend is evidenced by rising open interest in two-year note contracts and a significant uptick in short positions as yields rise. Analysts predict heightened volatility in response to upcoming inflation data, which could influence future rate cuts by the Federal Reserve.
Source: YAHOO
Reported 11 days ago
According to Bloomberg News, Apple plans to announce a new wall-mounted tablet, codenamed J490, in March. This device will handle various tasks such as appliance control and video conferencing using artificial intelligence. It is expected to feature a 6-inch screen and come in silver and black, with a price potentially reaching $1,000 for higher-end configurations. This move aims to strengthen Apple's position in the smart home market against competitors like Google's Nest Hub and Amazon's Echo line.
Source: YAHOO
Reported 11 days ago
Hedge fund veteran Kyle Bass supports the expected appointments of anti-China officials in Donald Trump's cabinet, stating they recognize the significant threat China poses to the U.S. and the West. He labels these officials, such as Senator Marco Rubio and Representative Mike Waltz, as 'China realists' and warns against investing in China, citing ongoing threats from Xi Jinping and the declining value of the Chinese yuan amidst rising tariffs.
Source: YAHOO
Reported 11 days ago
On November 12, 2024, major U.S. stock indexes experienced a decline as the momentum from the post-election 'Trump trade' faded. The S&P 500 dropped 0.3%, the Dow Jones Industrial Average fell 0.9%, and the Nasdaq composite decreased by 0.1%. Additionally, smaller U.S. stocks also fell, with yields in the bond market rising, exerting further pressure on equities.
Source: YAHOO
Reported 11 days ago
Following Donald Trump's reelection, the stock markets have shown an upward trajectory, prompting discussions about the economic implications of his policies. In an interview with Yahoo Finance, Bridgewater Associates co-CIO Karen Karniol-Tambour emphasized that the US economy 'has real room to run,' while also expressing concerns over the actual implementation of Trump's proposed policies like tariffs. She noted potential market volatility due to new policy regimes and stressed that the effects of tariffs could provoke reciprocal actions from other countries.
Source: YAHOO
Reported 11 days ago
Flutter, the world's largest online betting company, has raised its full-year guidance for the second consecutive quarter, driven by impressive revenue growth from its non-U.S. brands. In the third quarter, adjusted earnings soared by 74% to $450 million, surpassing analyst expectations, with a notable 24% increase in core profits from established markets like Britain and Australia. The Irish firm is projecting a 35% rise in core profit and a 22% increase in revenue for 2024, while also announcing a $5 billion share buyback plan.
Source: YAHOO
Reported 11 days ago
Brazilian payment company StoneCo announced a 35% increase in its adjusted net profit for the third quarter, reaching 587 million reais, surpassing analysts' expectations. The firm's total revenue for the quarter was 3.4 billion reais, reflecting a 7% year-on-year growth, with payment volume from small and medium enterprises rising 20%. StoneCo is also exploring options for its software business, potentially considering a sale of its unit Linx.
Source: YAHOO