Reported 21 days ago
AT&T Inc. has agreed to pay a $13 million fine to the FCC following an investigation revealed the company failed to protect customer data during a cloud vendor's data breach that affected nearly 9 million Mobility customers. The breach exposed subscriber details from 2015 to 2017, although sensitive personal information was not compromised. In light of this incident and a subsequent broader breach, AT&T will strengthen its data security measures.
Source: YAHOO
Reported 21 days ago
The S&P 500 has hit a record high as Wall Street anticipates an interest rate cut from the Federal Reserve. Home Builder Confidence Index improved, and significant moves are noted in the tech sector, including Microsoft's $60 billion share buyback and dividend increase, along with potential changes in Apple’s credit card issuer.
Source: YAHOO
Reported 21 days ago
Planning for retirement should start early, and Fiona Grieg from Vanguard advises taking full advantage of employer-matched contributions to avoid missing out on free money. She highlights the importance of maintaining savings momentum, especially when changing jobs, to ensure long-term financial success.
Source: YAHOO
Reported 21 days ago
Source: YAHOO
Reported 21 days ago
Amazon employees are expressing strong opposition to CEO Andy Jassy's newly mandated return-to-office policy, requiring in-person work five days a week starting January. Many workers voice their frustrations on social media and internal channels, with some indicating they would rather resign or explore more flexible job opportunities than comply with the strict mandate. Jassy's memo reflects a move back to pre-pandemic practices, which employees argue fails to consider the changes they made in their lives for a remote work environment.
Source: YAHOO
Reported 21 days ago
In a time of economic uncertainty marked by a slowing labor market and rising interest rates, experts stress the importance of being prepared for financial emergencies. Hosts David and John from Yahoo Finance's Living Not So Fabulously podcast share insights with anchor Brad Smith, emphasizing the need for investors to understand their financial situation clearly and adhere to their core values during turbulent market conditions to weather potential downturns.
Source: YAHOO
Reported 21 days ago
Big banks are drawing parallels between the current economic climate and 1995 when interest rate cuts led to significant growth in the banking sector. Analysts suggest that while it may not replicate the exact success of that year, similarities exist in monetary policy and potential deregulation. However, challenges such as tighter regulations and previous low-interest rates may complicate the quest for a similar boom in bank earnings, prompting cautious optimism for 2025.
Source: YAHOO
Reported 21 days ago
Jim Cramer has expressed strong support for Broadcom Corp. (NASDAQ: AVGO), highlighting it as a standout stock in Nancy Pelosi's investment portfolio. After a rally earlier this year, the semiconductor company's shares, buoyed by AI revenue growth, are attracting attention, particularly as they trade at a reasonable price/earnings multiple compared to Nvidia. Cramer noted that despite a brief dip post-earnings, Broadcom's recent performance and Pelosi's investment in the stock underscore its solid outlook.
Source: YAHOO
Reported 21 days ago
Elon Musk is on track to become the world's first trillionaire by 2027, with a current net worth of nearly $250 billion. His wealth comes from his leading position in Tesla, valued at about $710 billion, and significant stakes in SpaceX and other ventures. Despite facing fierce competition, regulatory challenges, and fluctuating support for his ventures, analysts believe his innovative strategies, especially in electric vehicles and AI, could drive his fortune beyond $1 trillion.
Source: YAHOO
Reported 21 days ago
Bradley Tusk, founder of Tusk Venture Partners, argues that mobile voting could significantly increase voter turnout and help shift American politics towards moderation. In his book, 'Vote With Your Phone,' he elaborates on how low voter participation tends to favor extreme candidates, and cites successful pilot tests of mobile voting that led to doubled turnout in certain elections. Tusk believes that enabling mobile voting might be critical to addressing the growing partisanship in the country.
Source: YAHOO
Reported 21 days ago
JPMorgan Chase is in negotiations with Apple to take over the credit card program formerly managed by Goldman Sachs, which has faced challenges and significant losses in its consumer banking sector. The discussions, which began earlier this year, may still take months to finalize. Goldman Sachs has reportedly struggled with the partnership, leading to its decision to exit the retail banking space in favor of its core investment banking and trading operations.
Source: YAHOO
Reported 21 days ago
Chevron's CEO Michael Wirth criticized President Biden's stance on natural gas, arguing its essential role in supporting AI development and aiding the shift from coal to cleaner energy. He condemned the administration's pause on LNG export approvals, claiming it undermines progress in reducing emissions and jeopardizes energy reliability. Wirth emphasized the need for a supportive policy environment to harness the potential of natural gas in an evolving energy landscape.
Source: YAHOO
Reported 21 days ago
Elon Musk, Gautam Adani, and Jensen Huang are currently leading the race to become the world's first trillionaires. Musk, with a net worth of $251 billion, is expected to reach this milestone by 2027 due to his ventures in space and technology. Adani, with an estimated worth of $84 billion, aims for trillionaire status by 2028, driven by his industrial and energy conglomerate's growth. Meanwhile, Jensen Huang, co-founder of Nvidia and valued at around $101 billion, is also predicted to achieve this remarkable financial feat by 2028, thanks to the booming AI sector.
Source: YAHOO
Reported 21 days ago
With the Federal Reserve poised to cut interest rates for the first time in four years, US Bank Asset Management Group CIO Eric Freedman advises investors to move away from short-dated treasuries and focus on longer-duration assets. Speaking on Morning Brief, Freedman emphasizes the significance of evaluating investments based on growth at reasonable prices in a lower-rate environment.
Source: YAHOO
Reported 21 days ago
Sam's Club, a subsidiary of Walmart, will raise hourly wages for nearly 100,000 employees to an average of over $19, with starting pay increasing from $15 to $16 per hour effective November 2. The new compensation plan aims to enhance employee retention and compete in the retail market, offering faster pay growth based on years of service. This decision comes as Sam's Club has experienced sales growth across various categories.
Source: YAHOO
Reported 21 days ago
The U.S. Consumer Financial Protection Bureau (CFPB) has issued legal guidance aimed at preventing banks from charging overdraft fees without proper customer consent. The guidance highlights concerns over 'phantom opt-in' situations where banks lack evidence of a consumer's agreement to such fees. CFPB Director Rohit Chopra emphasized that consumers should not face fees they did not authorize, supporting a broader initiative to address excessive banking fees and corporate pricing practices amidst rising living costs.
Source: YAHOO
Reported 21 days ago
Stocks remained mostly flat in afternoon trading as investors awaited the Federal Reserve's decision on interest rates, with the S&P 500 nearing an all-time high. Expectations are mixed regarding a potential 0.5% rate cut, with market dynamics influenced by recent retail sales data exceeding forecasts. Meanwhile, tech stocks, including Intel and Microsoft, saw gains amidst ongoing investor optimism.
Source: YAHOO
Reported 21 days ago
Intel's recent announcement to expand its AI chipmaking partnership with Amazon Web Services has positively impacted investor confidence, as highlighted by analyst Patrick Moorhead. He noted that collaborations with top cloud providers like AWS and Microsoft are seen as significant steps towards a promising future for the semiconductor company, effectively reducing risks and enhancing investor sentiment.
Source: YAHOO
Reported 21 days ago
A recent report by the National Academies of Sciences highlights the rising dangers associated with the growing length of freight trains and urges regulators, Congress, and the rail industry to reassess safety measures. The report finds a clear link between longer trains and derailments due to in-train forces, emphasizing the need for proper planning in train assembly, especially with diverse car types. Although railroads argue that their operations are safe, experts warn that longer trains pose increased risks to public safety and operations, particularly in blocking crossings and potential derailments.
Source: YAHOO
Reported 21 days ago
Investors are increasingly betting on undervalued stocks with the expectation that the Federal Reserve will begin cutting interest rates soon. In September alone, value-stock ETFs have seen $6.9 billion in inflows, while growth-stock ETFs have lost $13 million. This shift signals a rotation away from tech stocks towards sectors like utilities and real estate, fueled by optimism that rate cuts will boost economic growth and widen earning potentials among various sectors.
Source: YAHOO
Reported 21 days ago
Developed countries are under pressure to finalize a deal to restrict funding for foreign oil and gas projects, as ongoing discussions continue to stall due to opposition from South Korea and Turkey. The Organisation for Economic Cooperation and Development (OECD) is making efforts to expand restrictions on public financing for fossil fuels amid concerns regarding energy security, especially with the upcoming US presidential election and COP29 summit. Time is running out for these nations to reach a consensus before significant political changes could hinder progress.
Source: YAHOO
Reported 21 days ago
Shares of Icahn Enterprises have increased following the dismissal of a class action lawsuit which alleged that founder Carl Icahn defrauded shareholders. The lawsuit was based on a report from Hindenburg Research claiming Icahn operated a 'Ponzi-like' scheme by inflating share prices and distributing excessive dividends.
Source: YAHOO
Reported 21 days ago
Five Star Bank's parent company, Financial Institutions Inc., announced plans to phase out its banking-as-a-service (BaaS) program by 2025, shifting focus back to community banking. The decision follows several considerations, including regulatory changes and financial results from the BaaS sector, which accounted for only a small portion of their overall deposits and loans. This move reflects broader challenges faced in the BaaS industry, with other banks also retracting from similar services.
Source: YAHOO
Reported 21 days ago
Flutter Entertainment, the parent company of FanDuel, is set to acquire Playtech's Italian gambling segment for $2.6 billion. This strategic move follows Flutter's recent purchase of a majority stake in Brazil's NSX Group, indicating its aim to further expand its presence in the European market.
Source: YAHOO