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Regional banks in the US and even some large international banks are facing substantial losses from loans made over the past decade to US commercial real estate projects, especially office…
Stocks rallied strongly on Friday, with major indexes hitting fresh record highs, as a blockbuster January jobs report and blowout earnings from Big Tech fueled investor optimism. Jobs Report Tops…
Turkey's central bank governor Hafize Gaye Erkan resigned suddenly on February 2nd, 2024 after just eight months in the role, citing a "defamation campaign" against her as the reason for…
This weekend marks the start of Amazon's biggest sale event of the year so far, with major discounts across categories including fashion, beauty, tech and more. Overview of the Sale…
The Federal Reserve left interest rates unchanged after its latest two-day policy meeting that concluded Wednesday, dashing investor hopes for rate cuts in the near future. The Fed signaled it…
2023 was an extremely challenging year for small-cap stocks, with the Russell 2000 index falling over 25%. However, recent analysis from major financial institutions indicates these stocks may be positioned…
Amazon has introduced a new AI-powered shopping assistant named "Rufus" in its mobile app to provide personalized recommendations and advice to customers. Key Details About Rufus As per the announcement…
A new wave of substantial layoffs has swept across major U.S. technology companies over the past month, signaling growing caution by tech firms in the face of economic turbulence. Industry…
India's central bank has barred Paytm Payments Bank, operated by financial technology firm One97 Communications, from taking on new customers and ordered a comprehensive audit of its IT systems, delivering…
Consumer product safety company Bissell recently issued a recall on over 140,000 multi-reach cordless stick vacuums due to a potential fire hazard. The vacuums were sold at major retailers across…
A Hong Kong court has ordered the liquidation of China's most indebted property developer, Evergrande Group, in a move that could have significant repercussions across China's real estate sector and…
Nvidia's share price has hit multiple all-time highs over the past week, driven by strong earnings results and optimism around the company's leadership position in artificial intelligence (AI) technology. The…
February 4th, 2024 marks the 20th anniversary of Facebook. On that day in 2004, Mark Zuckerberg launched Facebook from his Harvard dorm room, starting a company that would go on…
Retail giant Target has swiftly pulled a Black History Month learning product from its stores after a social media outcry over factual errors in the product's labeling of civil rights…
Turkey's Central Bank chief Hafize Gaye Erkan resigned on February 2nd, 2024 after just 8 months on the job, citing a "defamation campaign" against her following allegations of nepotism and…
Over 350,000 Jobs Added, Exceeding Expectations The January 2024 jobs report showed that the US economy added 353,000 jobs last month, far exceeding economists' expectations of around 180,000 jobs.^[1] The…
The stock market rallied on Friday, recovering some of the losses from earlier in the week, as a strong January jobs report and blowout earnings from big tech companies like…
Paramount Global, one of the largest media conglomerates in the world, is fielding a $33 billion buyout offer from a consortium led by Apollo Global Management and the German insurer…
Researchers at the University of Nebraska-Lincoln conducted a first-of-its-kind crash test showing that guardrails and barriers on American highways may not be strong enough to contain heavy electric vehicles in…
Warm Winter Leads to Disappointing Sales and Forecast Columbia Sportswear, the Portland-based maker of outdoor apparel and gear, announced disappointing 4th quarter financial results on Thursday, leading to a sharp…
Nvidia's stock hit all-time highs this week after the company reported better-than-expected earnings results, driven by strong demand for its graphics processing units (GPUs) used in artificial intelligence and data…
Former President Donald Trump said on Friday that he would not reappoint Jerome Powell as Federal Reserve chair if he decides to run again for president and wins in 2024,…
Jaguar Land Rover CEO Thierry Bollore has spoken out strongly against the recent "epidemic" of Range Rover thefts, calling for urgent action to tackle what he described as "organized crime"…
The Food and Drug Administration (FDA) has issued an urgent warning to consumers about several products sold under the brand name Neptune's Fix that contain the dangerous substance tianeptine, also…
JetBlue Airways and Spirit Airlines are seeking an expedited appeal of the recent court ruling that blocked their proposed $3.8 billion merger over antitrust concerns. The airlines argue the judge…
The January 2024 jobs report released by the Labor Department on Friday showed a huge upside surprise, with nonfarm payrolls jumping by 353,000 compared to expectations for a 185,000 gain.…
Mortgage rates eased this week after the Federal Reserve announced it would pause interest rate hikes, providing some relief to prospective homebuyers. However, rates remain significantly higher than last year…
Delaware Chancery Court Judge Joseph Slights III ruled this week that Elon Musk's controversial 2018 pay package at Tesla, potentially worth over $50 billion, was invalid. The surprise ruling stated…
Spotify has renewed its exclusive licensing deal with podcast host Joe Rogan for over $200 million, despite ongoing controversies around misinformation and racist language on his show. Background on Joe…
US employers announced 82,307 job cuts in January 2024, more than double the number in December 2023 and the highest monthly total since November 2020, according to global outplacement and…
Stocks surged on Friday, led by big tech companies like Meta and Amazon, which reported strong earnings after the bell on Thursday. The market shrugged off a blowout January jobs…
A federal appeals court has set an expedited schedule to hear arguments in June on overturning the blocked $3.8 billion merger between JetBlue Airways and Spirit Airlines. The Department of…
Former President Donald Trump made waves this week by stating he would not reappoint Jerome Powell as Federal Reserve Chair if elected again in 2024. Trump accused Powell, who he…
Ben Armstrong, better known as "Bitboy" to his 1 million YouTube subscribers, shocked the crypto world this week by announcing the end of his popular daily Bitcoin and cryptocurrency livestream…
In a stunning turn of events, a Delaware judge has ruled that Tesla's board failed to properly oversee a massive compensation package for CEO Elon Musk, voiding what was at…
Spotify has signed a new deal with popular podcaster Joe Rogan that will see his show distributed more widely while still being available on Spotify. The deal is worth up…
Overview The fourth quarter earnings season is underway, and early results show a tale of two economies. The tech sector is flexing strong growth, with companies like Microsoft, AMD, and…
Stocks surged on Friday, led by strong gains in technology shares after blowout earnings from companies like Meta Platforms and Amazon. The market also got a boost from a robust…
The U.S. cattle inventory has declined 2% over the past year to 89.8 million head as of January 1, 2024, according to the U.S. Department of Agriculture's (USDA) Cattle report…
A Delaware judge has overturned Tesla CEO Elon Musk's controversial $55 billion compensation package, prompting Musk to take swift action to move Tesla's corporate base from Delaware to Texas. This…
Carvana Co. (CVNA) stock is skyrocketing in premarket trading after the company announced major restructuring efforts and cost-reductions to achieve profitability. The online used car retailer has seen its share…
Stocks rose on Friday as strong earnings from major tech companies like Meta and Amazon lifted markets, offsetting concerns over a blowout January jobs report that could push the Federal…
Bao Fan, the billionaire co-founder and Chairman of China Renaissance Holdings, has resigned from the investment bank after going missing for over a year, the company announced Friday. His resignation…
Electric vehicle maker Tesla has issued a recall of nearly 2.2 million vehicles in the United States over an issue with the font size on some warning indicator lights being…
Apple reported its first quarter financial results on Thursday, beating earnings per share forecasts but missing on revenue expectations. The tech giant also warned investors that it expects lower iPhone…
ExxonMobil reported its fourth quarter and full year 2023 financial results on February 2nd, beating Wall Street's earnings expectations but missing slightly on revenue. The oil giant generated robust profits…
Advanced Micro Devices (AMD) reported mixed fourth quarter 2023 earnings after the market closed on January 31st, sending its stock lower in after-hours trading despite strong guidance for its artificial…
The United States Postal Service (USPS) held a press conference today to address growing concerns over mail delays and inconsistent delivery that have impacted residents and businesses across the country.…
Amazon reported blowout fourth quarter results on Thursday, easily surpassing Wall Street expectations and sending its stock price surging over 8% in after-hours trading. The e-commerce behemoth generated $170 billion…
Amazon reported strong fourth quarter earnings on Thursday, beating Wall Street's expectations despite ongoing economic turbulence. The e-commerce giant posted revenue of $149.2 billion, up over 9% compared to the…
Apple reported its earnings for the first fiscal quarter of 2024 on Thursday, ending a year-long streak of revenue declines but still facing challenges in China. The tech giant posted…
Intel has announced it is delaying the opening of its planned $20 billion chip manufacturing complex in New Albany, Ohio until late 2026, pushing back the previous target launch date…
Regional bank New York Community Bancorp sent shockwaves through the banking sector this week, announcing a surprise $260 million loss for the fourth quarter of 2023 and slashing its dividend…
Stocks around the world climbed on Friday after strong earnings reports from some of the largest U.S. technology companies. Investor sentiment was bolstered by robust results that beat expectations, easing…
Amazon reported its fourth quarter 2023 earnings on February 1st, beating Wall Street estimates on both revenue and profit. However, shares fell over 4% in after-hours trading as the company…
Real estate franchise giant Keller Williams (KW) has agreed to pay $70 million to settle a class action lawsuit alleging anti-competitive practices related to agent commissions, according to court documents…
A Delaware judge's ruling to void Elon Musk's controversial $55.8 billion pay package from Tesla has thrown the electric vehicle maker's future into question. Musk is now pushing to move…
Ferrari shares jumped over 10% on Wednesday after the Italian luxury sports car maker reported better-than-expected 2023 earnings results and signed Formula One legend Lewis Hamilton to drive for the…
Meta Platforms, the parent company of Facebook, Instagram and WhatsApp, reported its fourth-quarter 2023 results on February 1st, handily beating Wall Street estimates. The company also stunned investors by declaring…
Amer Sports, the Finland-based sporting goods company known for brands like Wilson, Arc'teryx, and Salomon, completed its initial public offering (IPO) on the New York Stock Exchange on February 1st,…
Deutsche Bank, Germany's largest lender, announced a major restructuring plan on Thursday that includes cutting 3,500 jobs globally by 2025 even as the bank reported higher-than-expected profits in 2023. The…
Apple reported its earnings for the first fiscal quarter of 2024 on February 1st, ending a year-long streak of revenue declines. The results beat Wall Street estimates, driven by strong…
Peloton Interactive Inc. reported mixed financial results for its fiscal second quarter ended December 31, 2023, as the connected fitness company continues to face challenges with slowing demand and widening…
Several major automakers including Tesla, Volkswagen, BMW, and General Motors are facing allegations that their supply chains are linked to forced labor involving the oppressed Uyghur ethnic group in China's…
Hulu is the latest streaming service to announce a crackdown on password sharing. The Disney-owned platform plans to start taking action against password sharers beginning March 14th. Background The move…
As the San Francisco 49ers and Kansas City Chiefs prepare to face off in Super Bowl LVIII on Sunday, hosts planning watch parties are getting a break on many popular…
Regional bank stocks plunged on Wednesday after New York Community Bancorp Inc (NYCB) reported an unexpected quarterly loss, fueled by a jump in provisions for credit losses. NYCB also slashed…
Amer Sports, the Finnish sporting goods company best known for owning brands like Wilson, Arc'teryx, and Salomon, has priced its initial public offering (IPO) on the New York Stock Exchange…
Overview U.S. stock index futures bounced on Thursday following steep declines over the past two sessions driven by the Federal Reserve's latest policy update. Futures tied to the S&P 500…
Volvo Announces Plan to Cease Funding Polestar Volvo Cars announced on Thursday that it plans to stop funding its electric vehicle sub-brand Polestar and is considering distributing its stake in…
India's central bank has ordered Paytm Payments Bank, the banking arm of digital payments firm Paytm, to stop onboarding new customers and directed the bank to appoint an IT audit…
Shell reported a 30% drop in 2022 profits compared to 2021's record levels, as lower oil and gas prices reduced earnings across the company's operations. However, strong performance in liquefied…
The latest US inflation data released on Wednesday showed consumer prices rose more than expected in January, dashing hopes that the Federal Reserve would pivot to cutting interest rates soon.…
New York Community Bancorp Inc. (NYCB) saw its stock plunge 38% on Wednesday after the bank reported an unexpected fourth-quarter loss and slashed its dividend by over 70%. The regional…
Microsoft shares fell over 4% in extended trading after the company reported mixed results for its fiscal second quarter. While Microsoft beat expectations on earnings and revenue, growth slowed for…
Qualcomm reported fiscal first quarter results that beat Wall Street's expectations, driven by strong demand for its smartphone chips and growth in automotive and Internet of Things (IoT). The company…
Overview Cigna Corporation announced Wednesday that it has agreed to sell its Medicare Advantage business and other assets to Health Care Service Corporation (HCSC) for $3.7 billion in cash. HCSC…
A group of 30 current and former employees at a Boone County, Kentucky middle school are celebrating a huge lottery win this week. The tight-knit group won a $1 million…
Devon Energy's stock price fell over 7% on January 31st after the company provided lower than expected earnings guidance for 2023. This abrupt reversal comes despite Devon posting strong profits…
Media executive Byron Allen has made a surprise $30 billion cash and stock offer to acquire Paramount Global, owner of major entertainment properties like CBS, Showtime, and Paramount Studios. The…
China has surpassed Japan to become the world's largest vehicle exporter in 2023, according to recent data from Japan's industry ministry. This marks a major shift in the global auto…
Qualcomm delivered record revenue in its fiscal 2024 first quarter earnings report, beating Wall Street estimates thanks largely to strong demand for its smartphone chips and technology used in 5G…
A Delaware judge has ruled that Elon Musk's 2018 pay package from Tesla, worth around $56 billion, is invalid. In response, Musk has announced plans to move Tesla's state of…
Amazon reported its fourth-quarter financial results on Thursday, beating Wall Street expectations despite ongoing inflation and economic concerns weighing on consumers and businesses. The e-commerce and cloud giant generated $149.2…
A Delaware judge has struck down a compensation package for Tesla CEO Elon Musk potentially worth over $55 billion, ruling that it was unfair to the electric vehicle maker's shareholders.…
Elon Musk's neurotechnology company Neuralink announced this week that it has successfully implanted its small, flexible computer chip into a human subject's brain. This first-in-human milestone caps years of research…
The Messenger, an ambitious digital news startup aimed at reaching affluent young professionals, announced Wednesday that it is shutting down operations effective immediately after less than a year since its…
Entertainment mogul Byron Allen has made a surprise $30 billion cash and debt offer to acquire Paramount Global, owner of major media assets including the CBS television network, Paramount Pictures…
Walmart, the largest retailer in the world, announced plans on January 31st, 2024 to open 150 new stores across the United States over the next 5 years. This marks a…
H&M CEO Helena Helmersson has abruptly resigned after just two years in the role, the company announced on January 31st, 2024. Her resignation came as a surprise and coincided with…
Apple reported its first quarter fiscal 2024 earnings on February 1st, showing slowed iPhone sales but strong growth in services. While overall revenues declined year-over-year, the results beat Wall Street…
The Federal Reserve left interest rates unchanged after its two-day policy meeting that concluded Wednesday, dashing hopes for an immediate cut to borrowing costs. However, Fed Chairman Jerome Powell signaled…
Walmart, the largest retailer in the world, announced plans on January 31st, 2024 to aggressively expand its U.S. brick-and-mortar footprint over the next 5 years. The plans include opening 150…
Markets Lack Direction Ahead of Expected Rate Hike Global stocks traded sideways on Wednesday as investors held off on major bets ahead of the U.S. Federal Reserve's latest policy decision,…
Regional bank New York Community Bancorp sent its stock price plunging 35% on Wednesday after unexpectedly cutting its dividend by 71% and swinging to a loss in the fourth quarter.…
Ford has announced it will provide complimentary charging adapters to all North American Ford EV owners to grant access to Tesla's vast Supercharger fast charging network. The move aims to…
eBay has agreed to pay $59 million to settle a U.S. government probe into its alleged failure to control sales of equipment that drug dealers and counterfeiters could use to…
Alphabet Inc., the parent company of Google and other technology businesses, reported mixed fourth-quarter financial results after the market close on Tuesday, January 31st, 2024. While overall revenue and earnings…
Entertainment mogul Byron Allen has made a surprise $14.3 billion bid to acquire Paramount Global, owner of the CBS television network and Paramount movie studios. The cash-and-debt offer sent Paramount's…
A Delaware judge has struck down Elon Musk's controversial $56 billion compensation package from Tesla, a move that could potentially cost Musk his title as the world's richest person. Judge…
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