Author: Press Room
Former President Donald Trump on Tuesday vowed that he would “get SALT back” if reelected, apparently suggesting that he would eliminate the cap on state and local tax deductions that he signed into law in 2017.Trump, the Republican presidential nominee, made the promise in a Truth Social post intended to court New York voters to back him over Democratic Vice President Kamala Harris in the Nov. 5 election.”We have a real chance of winning, for the first time in many decades, New York,” Trump claimed, arguing that crime, immigration and inflation have hurt state residents.”VOTE FOR TRUMP! I will turn…
For all the hype that goes into them, Federal Reserve meetings are usually pretty predictable affairs. Policymakers telegraph their intentions ahead of time, markets react, and everyone has at least a general idea of what’s going to happen.Not this time.This week’s gathering of the central bank’s Federal Open Market Committee carries an uncommon air of mystery. While markets have made up their collective mind that the Fed is going to lower interest rates, there’s a vigorous debate over how far policymakers will go.Will it be the traditional quarter-percentage-point, or 25-basis-point, rate reduction, or will the Fed take an aggressive first…
The U.S. Transportation Department said on Tuesday it had agreed to allow Alaska Airlines to close on its $1.9 billion acquisition of Hawaiian Airlines, after the carriers agreed to maintain key Hawaiian routes and adopt consumer protections. The Justice Department in August opted not to block the deal that was announced in December by Alaska, the fifth-largest domestic U.S. airline, to Hawaiian, the 10th-largest carrier. The carriers said on Tuesday that they expect to close the deal in the coming days. DOT said Alaska and Hawaiian agreed to protect the value of frequent flyer rewards, maintain existing service on key Hawaiian routes to the continental United States and inter-island regions,…
Many articles have been written on FedEx (NYSE:FDX) both on this blog and over on Seeking Alpha over the years. As an industrial component who, along with UPS (UPS), carries and delivers the equivalent of about 3% of US GDP (that’s a stat from the early 2000s and if it has changed, has probably only grown), FedEx remains integral to US business, particularly e-commerce. Several recent events have coincided to be a potential catalyst for FedEx stock, hopefully pushing the stock above and beyond its June ’21 high of $319-320. The first was Fred Smith abrogating the CEO role at…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Intel unveiled cost-cutting and restructuring measures, including a two-year pause on planned chip plants in Germany and Poland, as chief executive Pat Gelsinger seeks to turn around the chipmaker’s flagging fortunes.The announcement follows a crunch board meeting last week for the US chipmaker, whose shares have fallen sharply since August when it reported disappointing earnings results and an initial round of cuts, as well as a pause to its dividend.As well as making further moves to establish its chip manufacturing business as…
Mark Meadows, Donald Trump’s former White House chief of staff, failed to convince a judge that his criminal case related to the 2020 election in Arizona should be moved to federal court, which could have made it easier to have the charges dismissed. Meadows similarly failed in his bid to move the criminal case against him in Georgia related to the 2020 election to federal court but has asked the US Supreme Court to weigh in. Meadows and 17 other Trump associates, including the fake electors from that state and several individuals connected to his campaign, were indicted earlier this…
It’s an issue for some adult children with aging parents. When the elders need care, there is resistance to using the parent’s own funds to cover the cost of caregiving. It’s puzzling. For example, faithful son (FS) has been taking care of his mom by himself for 25 years. He lives in her home and pays all the bills. He works full time at a physically demanding job. No siblings help in any way. All are estranged. Mom, now 90 years old, fell, had to be hospitalized and then went to rehab. Prior to that, she was fine at home…
Faster delivery is prompting more and more people to turn to Amazon to buy paper towels and other everyday items. It’s a great situation for busy shoppers. It’s a double-edged sword for investors – at least for now. As drugstore chains struggle and close stores left and right, Amazon has positioned itself to fill that void and capture more of the spending on items people might stop to pick up on their way home from work – things like dish soap, nonperishable food and other personal health care products. Like it’s done so many times before since its inception selling…
Intel shares jumped 8% in extended trading Monday after the company said it plans to turn its foundry business into an independent unit with its own board and the potential to raise outside capital.As part of CEO Pat Gelsinger’s effort to turn around the struggling chipmaker, Intel said in a memo to employees that it will also sell off part of its stake in Altera.Gelsinger said the restructuring would allow the foundry business to “evaluate independent sources of funding,” and comes days after Intel’s board met to assess the direction and future of the company. The foundry business, which Intel…
Amazon is demanding that its corporate employees return to the office five days a week, a significant change from its current pandemic-era hybrid policy that requires them to be in the office just three days a week. CEO Andy Jassy made the announcement about the new policy Monday, writing that the change will help its thousands of employees “invent, collaborate, and be connected enough to each other and our culture to deliver the absolute best for customers and the business.” The new policy takes effect on January 2, 2025. Jassy has previously advocated that employees work in the office, writing…
