Reported 12 days ago
Chinese e-commerce companies reported an increase in sales and shoppers during this year's Singles' Day shopping festival. Alibaba noted that 45 brands surpassed 1 billion yuan in gross merchandise value. Both Alibaba and JD.com experienced robust growth in transaction volume, with JD.com reporting a 20% increase in shoppers. Although past sales figures are no longer disclosed, experts estimate post-COVID growth has slowed. The festival continues to reflect consumer sentiment shifts toward experiences and hobbies.
Source: YAHOO
Reported 12 days ago
Howard Lutnick, CEO of Cantor Fitzgerald and a notable supporter of Donald Trump, is positioning himself for a significant role in Trump's administration, possibly as Treasury secretary. Lutnick, a billionaire with a robust Wall Street presence, is actively assembling a team for a future administration while advocating for major cuts to federal agencies and a new Department of Government Efficiency. His close ties with Trump and efforts to strategize policy shifts raise questions about how his potential appointment could impact the financial industry.
Source: YAHOO
Reported 12 days ago
Tyson Foods reported stronger-than-expected quarterly profits due to robust demand for its beef and pork products, despite a decline in chicken sales. The company's shares rose over 8% as it benefited from lower costs and improved margins, although concerns about the beef market outlook persist. Adjusted earnings reached 92 cents per share, significantly higher than analysts' predictions, with net sales rising 1.6% to $13.57 billion.
Source: YAHOO
Reported 12 days ago
Canadian Labour Minister Steven MacKinnon will hold a media briefing on Tuesday at 10 am Eastern Time to discuss the ongoing disputes at the Vancouver and Montreal ports.
Source: YAHOO
Reported 12 days ago
Tyson Foods Inc. reported better-than-expected fourth-quarter earnings and anticipates its adjusted operating income to rise by up to 22% in fiscal 2025, driven by improved chicken sales that offset losses in beef. CEO Donnie King noted significant profitability improvements, as demand for chicken surged due to its cost-effectiveness compared to beef. The company expects operating income between $1.8 billion and $2.2 billion, while beef continues to face challenges due to a shortage of cattle.
Source: YAHOO
Reported 12 days ago
Vardis Vardinoyannis, a prominent Greek shipping and energy businessman and long-time friend of the Kennedy family, has died at the age of 90 in Athens. Known for his influential role in the industry and his philanthropic efforts, Vardinoyannis survived a terrorist assassination attempt in 1990 and was pivotal in shaping various enterprises, including Motor Oil Hellas. He was also involved in charitable work alongside his wife, Marianna, who passed away last year. Greece’s Prime Minister Kyriakos Mitsotakis paid tribute to his legacy and contributions to the country.
Source: YAHOO
Reported 12 days ago
Key advisers to president-elect Donald Trump are advocating for Scott Bessent, head of Key Square Group, to be appointed as Treasury Secretary. Bessent's contributions to Trump's campaign and his insights on the economy have garnered respect, although Trump has yet to make a final decision. Various Wall Street figures are in consideration for the role, as the new Treasury chief will navigate fiscal policies amidst strong economic growth and public concerns over high prices.
Source: YAHOO
Reported 12 days ago
German Chancellor Olaf Scholz's Social Democrats have reached an agreement with opposition lawmakers to hold an early national election on February 23, following a political crisis triggered by his dismissal of Finance Minister Christian Lindner. With Scholz facing a confidence vote on December 16 that could lead to parliament's dissolution, the center-right CDU/CSU alliance, led by Friedrich Merz, appears to be favored in polls, signaling a potential shift in leadership for Germany amid economic challenges.
Source: YAHOO
Reported 12 days ago
Qatar has appointed Mohammed Al Sowaidi as the new CEO of its $510 billion sovereign wealth fund, succeeding Mansoor Al Mahmoud. Al Sowaidi, who has been with the fund since 2010 and was previously the chief investment officer for the Americas, is expected to navigate the fund's strategic asset allocation during a critical expansion phase driven by Qatar's rising gas output. The QIA aims to bolster its investments, particularly in the US and Asia, amid a significant increase in global investments from Gulf wealth funds.
Source: YAHOO
Reported 12 days ago
Apollo Global Management is backing fintech startup Vega, launching a $20 million Series A investment to enhance client services in private markets through Vega AltOS technology. This platform aims to connect asset managers with investors across different stages of investment, addressing the lack of cohesive solutions in the industry. Apollo plans to utilize this technology to improve the client experience as demand for private market investments continues to rise.
Source: YAHOO
Reported 12 days ago
Home Depot anticipates a smaller drop in same-store sales for 2024, buoyed by strong demand from contractors and an increase in hurricane-related spending. The company reported better-than-expected results for the third quarter, benefiting from storms that prompted consumer purchases of essential building materials. Although they are cautious about the long-term effects of recent interest rate cuts, Home Depot's focus on professional customers appears to be paying off, with only a 1.3% decline in comparable sales, the smallest since late 2022.
Source: YAHOO
Reported 12 days ago
Following a tumultuous period marked by the FTX collapse, major crypto moguls like Michael Novogratz and the Winklevoss twins are experiencing a dramatic resurgence in wealth, fueled by Bitcoin's record surge to over $89,000. This shift in fortune comes as Donald Trump's election win signals a more favorable regulatory environment for digital assets, in contrast to the previous administration's strict stance. Notably, Binance's Changpeng Zhao leads with a remarkable $49 billion increase in net worth since 2022, reflecting a broader positive trend within the cryptocurrency market.
Source: YAHOO
Reported 12 days ago
Recent data from Whisker Labs reveals that Chicago is the most affected region in the US for distorted power supplies, with issues stemming from bad harmonics. This 'noisy' power can damage home appliances and reduce efficiency for over 5 million households nationwide, particularly in areas facing aging infrastructure and increasing demand. Whisker Labs plans to alert customers about the problem to enable proactive measures with local utilities.
Source: YAHOO
Reported 12 days ago
In September, Brazil's retail sales increased by 0.5%, recovering from a decline in August but falling short of the 1.1% growth predicted by economists. Year-on-year, sales grew by 2.1%, below the expected 3.7%. The lift in sales was mainly due to personal use and domestic products, indicating a return to growth despite challenges in the economy, including inflationary pressures and a weakening currency.
Source: YAHOO
Reported 12 days ago
Elon Musk's Starlink is actively seeking security clearance to launch satellite broadband services in India, with the telecom minister stating that a license will be granted if all conditions are met. Starlink's entry into the Indian market received support when the government decided to award spectrum administratively instead of through auctions. To obtain security clearance, Starlink must demonstrate its capacity to process and store data locally and ensure the security of its satellite signals. If successful, this move could challenge Mukesh Ambani's Reliance Jio, which currently leads the wired broadband market.
Source: YAHOO
Reported 12 days ago
Source: YAHOO
Reported 12 days ago
Wall Street might be overlooking three promising growth stocks: Opendoor Technologies, ASML Holding, and Celsius Holdings. Despite their recent struggles and price declines, analysts expect significant recovery and growth for all three companies, driven by cyclical trends and unique market positioning. Investors may find opportunities as these stocks rebound from current lows and market sentiment shifts.
Source: YAHOO
Reported 12 days ago
McDonald's Corp. recently issued its first bond in Swiss francs since 2016, selling 550 million Swiss francs ($624 million) as it navigates an E. coli outbreak and lower-than-expected third-quarter sales. This move follows a trend where global corporates are increasingly tapping into the Swiss franc market for diverse funding sources. The issuance reflects the broader activity in the Swiss bond market, which has seen a surge in non-financial deals this year.
Source: YAHOO
Reported 12 days ago
Elon Musk's day-trading supporters are actively buying into speculative markets, including Dogecoin and a closed-end fund with SpaceX holdings, following Donald Trump's election victory. Destiny Tech100 Inc. has seen a remarkable surge of 280% in just a week, driven by the retail investing crowd's interest in Musk's enterprises. Despite concerns over the risks of investing in private assets, the post-election rally has bolstered the appeal of Musk's companies, particularly Tesla and the controversial fund, raising questions about market volatility.
Source: YAHOO
Reported 12 days ago
Berkshire Hathaway, led by Warren Buffett, has a notable investment in Amazon, which plays a significant role in the AI sector through its cloud computing division, Amazon Web Services (AWS). Although Amazon stock constitutes a small portion of Berkshire's portfolio, the investment has yielded impressive returns since its initial purchase in 2019. As AWS continues to grow due to increasing AI demand, Amazon's profitability is also on the rise, making it a compelling investment opportunity in the AI space.
Source: YAHOO
Reported 12 days ago
A Dutch appeals court has overturned a ruling requiring Shell to cut carbon emissions by 45% by 2030, stating there is no consensus on a specific reduction percentage that companies must follow. This decision is a setback for environmental advocates who celebrated the original ruling, as it highlights ongoing debates about corporate responsibility in addressing climate change.
Source: YAHOO
Reported 12 days ago
The European Union has warned Apple Inc. that its geo-blocking practices may violate consumer protection laws. An investigation revealed that Apple's App Store and iTunes discriminate against users based on their location, preventing them from accessing services and using payment methods from other countries. This issue comes amid other regulatory challenges for Apple, including a pending fine under the Digital Markets Act.
Source: YAHOO
Reported 12 days ago
The stock market is experiencing a surge driven by FOMO as major stocks like Bitcoin and Tesla soar, prompting discussions on the impact of President-Elect Trump's policies. Market strategists are optimistic about continued growth, with predictions suggesting that the S&P 500 could reach new highs by 2025, despite concerns over high valuations and inflation. The current climate indicates a potential year-end chase among investors to capitalize on robust market performance.
Source: YAHOO
Reported 12 days ago
The article highlights three growth stocks, Advanced Micro Devices (AMD), Dutch Bros (BROS), and Innovative Industrial Properties (IIPR), that have seen declines between 34% and 62% but present buying opportunities. AMD is focusing on boosting its revenue from data center operations despite a drop in gaming revenue. Dutch Bros has expanded rapidly and is seeing revenue growth despite its stock's decline. IIPR, operating in the cannabis real estate sector, is rebounding from earlier losses and offers an attractive dividend yield, making them three potential investment options for those looking to capitalize on their future growth.
Source: YAHOO
Reported 12 days ago
Amazon has become a cornerstone of Berkshire Hathaway's portfolio, showcasing solid growth potential driven by its extensive scale and diverse revenue streams. With recent financial successes and a focus on improving profit margins through cost-cutting and enhanced delivery efficiency, it presents a compelling investment opportunity for those with $250 to spare. Analysts predict that Amazon's share price could rise significantly in the coming years, indicating it's not too late to invest.
Source: YAHOO