South Korean policymakers join the global chorus of virtual-coin critics, saying Seoul is considering shutting domestic virtual currency exchanges as the new breed of market exposes users to speculative frenzy and crime. Francis Maguire reports
Power company PG&E Corp beat Wall Street estimates for first-quarter profit and raised its full-year earnings forecast on Thursday, helped by higher electricity rates and lower operating and wildfire-related costs. Last year, the California Public Utilities Commission (CPUC) voted to approve PG&E's infrastructure plan that would lead customer bills to rise by nearly 13%. In January, the CPUC also approved a $45 million settlement for the utility's part in the destructive 2021 Dixie wildfire, which in 2021 resulted in more than 963,000 acres (390,000 hectares) being burned across multiple counties.
BHP might have to sweeten its offer for Anglo American if it wants to succeed in its takeover of the diversified international miner with stakes in three big South American copper mines. BHP, which is the world’s largest miner and a major producer of iron ore, made an offer for London-based Anglo American that values the company at 25.08 pounds per share, or 2,508 pence, including the value of stakes in Anglo American Platinum and Kumba Iron Ore that would be spun off to Anglo American shareholders before any deal. Anglo American said it is reviewing the proposal.
Ford (F) reported its first-quarter earnings after the bell on Wednesday afternoon, beating estimates with $42.8 billion in revenue against an expected $40.04 billion. The automaker also reported commercial revenue jump 36% but saw EV sales decline. Yahoo Finance Reporter Pras Subramanian joins The Morning Brief to break down the numbers from Ford and what it means for investors moving forward. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Nicholas Jacobino
It’s time to buy Treasury bonds again. Driving the yield higher has been stubbornly high inflation that has made it increasingly clear that the Federal Reserve won’t soon start reversing the 11 interest-rate increases it has rolled out since March 2022 as it seeks to rein in price growth. Higher yields are wreaking havoc on the stock market because they threaten to slow spending and borrowing by both consumers and businesses.
Lufthansa admitted that their Tuesday flight to LAX had a bit of a ‘rough landing’ when it touched down
The Federal Communications Commission said on Thursday it is ordering the U.S. units of China Telecom, China Unicom and China Mobile to discontinue fixed or mobile broadband internet operations in the United States. The FCC said it was requiring the Chinese carriers to discontinue services within 60 days of the effective date of the net neutrality order approved on Thursday. The order also applies to Chinese telecom Pacific Networks and its wholly owned subsidiary ComNet.
TAMPA, Fla., April 25, 2024--Masonite International Corporation (NYSE: DOOR) ("Masonite") today announced that its shareholders have voted to approve the Company’s proposed transaction with Owens Corning at its Special Meeting of Shareholders. As previously announced, under the terms of the transaction, Masonite shareholders will receive $133.00 per share in cash in connection with the closing of the transaction.
The summer travel season is around the corner. But with high inflation and interest rates, there are questions about the health of the US consumer heading into the summer. A new Bankrate survey found that more than one-third of Americans are willing to take on debt for travel. Bankrate Senior Industry Analyst Ted Rossman joins Wealth! to give insight into the health of the consumer during the summer travel season. When asked who specifically was willing to take on debt, Rossman responds, "Millennials, actually, they love their experiences. They are more likely to be splurging on travel. Where it really stood out was a different recent study we did, we asked not only about travel but also dining and concerts and sporting events and other live entertainment, that's where people under the age of 40 really stood out." For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Nicholas Jacobino
While the dollar was hardly shaken against the beleaguered yen, it otherwise saw only a brief gain after the Commerce Department reported that U.S. gross domestic product grew at a 1.6% annualized rate in the January-March period, slower than the 2.4% rate expected by economists polled by Reuters. The inflation surprise puts an even greater-than-usual focus on the release on Friday of PCE price index data for March. The yen, meanwhile, hit a fresh 34-year low versus the dollar and a 16-year low against the euro on Thursday as investors expect a Bank of Japan (BOJ) policy meeting that ends on Friday to not be hawkish enough to support the Japanese currency.
England legend Maggie Alphonsi tipped Red Roses star Ellie Kildunne to crowned Women’s Six Nations Player of the Championship ahead of this weekend’s Grand Slam decider against France.
Valley National Bancorp reported a slump in its first-quarter profit on Thursday, dragged down by a fivefold increase in rainy-day funds on account of its exposure to commercial real estate. High interest rates and borrowing costs have heightened worries of debt defaults in the commercial real estate (CRE) market, which is already in doldrums due to empty office buildings in the post-pandemic era. Valley National's provisions for credit losses surged to $45.3 million in the first quarter, compared with $9.5 million a year earlier.
The top five biotech stocks today have several commonalities. Among them are strong ratings. Some show promising charts and are Tech Leaders.
Baron Funds, an investment management company, released its “Baron Real Estate Fund” first quarter 2024 investor letter. A copy of the same can be downloaded here. The fund had a strong performance in the quarter and generated a gain of 8.28% (Institutional Shares). The Fund beat both the MSCI US REIT Index (the REIT Index), […]
TE Connectivity Ltd. (NYSE:TEL) Q2 2024 Earnings Call Transcript April 24, 2024 TE Connectivity Ltd. beats earnings expectations. Reported EPS is $1.86, expectations were $1.83. TEL isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here). Operator: Everyone, thank you for standing by, […]
'Three Wiser Men and a Boy' will premiere later this year as part of the network's 15th annual Countdown to Christmas programming
Stocks came off session lows as market volatility calmed down following a firm print on inflation. The Dow Jones Industrial Average was down 480 points, or 1.2%. The S&P 500 was down 1%. The Nasdaq Composite led the losses, down 1.
Anglo American's London-listed shares spiked in late UK trade on Wednesday, hours before the miner announced a $39 billion bid by rival BHP Group, raising questions from some lawyers, investors and commentators about possible leaks. Shares in Anglo rose by around 2.8% between 1500 GMT and the market close at 1530 GMT in London on Wednesday. The late bounce before the bid proposal was revealed, which if successful would forge the world's biggest copper miner, contrasted with modest share price gains of between 0.2-0.5% at Anglo's peers Rio Tinto, Glencore and Antofagasta in the 35 minutes before the London market closed.
A new law provides a pathway to ban the popular app in the US. Here's a look at what it could mean for creators.
Matty Healy is thought to be the inspiration for much of Taylor Swift's new album 'The Tortured Poets Department'
Treasury yields (^TYX, ^TNX, ^FVX) are booming this morning, the 10-year yield peaking above 4.7% after a softer-than-expected US GDP print. Saxobank Head of Fixed Income Strategy Althea Spinozzi joins Yahoo Finance's Seana Smith to discuss what the bond market may be messaging to investors on bond performances under higher inflation and interest rates. "5% is now a very high probability [for the 10-year yield]. There is also a very high probability that the yields continue to rise towards 5.25%," Spinozzi says. "However, to see a break above that level, we need to have a second wave of inflation. We need the Federal Reserve to talk about [rate] hikes again, and right now, that's a little bit of a tail scenario." For more expert insight and the latest market action, click here to watch this full episode. This post was written by Luke Carberry Mogan.
Yahoo Finance