Author: Press Room
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Nvidia’s revenue soared 262 per cent in the past quarter, beating investors’ lofty expectations and sending the shares higher in after-hours trading on Wednesday. The chipmaker also announced a 10-for-one stock split effective from June 7, and said it was raising its quarterly cash dividend 150 per cent.Revenue for the three months to the end of April was $26bn versus consensus estimates of $24.7bn, driven by record artificial intelligence chip sales. The enormous year-on-year increase was similar to the prior quarter, when…
Hunter Biden’s trial on tax charges has been moved to September 5, after the judge presiding over the case made Biden’s attorney promise he would not seek further delays. In asking for a delay in the case, Abbe Lowell, an attorney for Biden, cited issues with discovery, witnesses and obtaining experts in the case, as well as the upcoming trial on federal gun crimes in Delaware, which is set for June 3. Hunter Biden, the son of President Joe Biden, has been accused of engaging in a tax-avoidance conspiracy for several years as he funded a lavish lifestyle as well…
Some retirees continue to make a key mistake with required minimum distributions, and that could cost them a lot of money. When a retiree doesn’t need the RMD to pay living expenses, some move the money to a Roth IRA, treating it as a conversion of the RMD to a Roth IRA. Others try to rollover the money to a different IRA or qualified retirement plan. Neither action is allowed. When a person has to take RMDs, the first distribution from a traditional IRA during the year is considered to be the RMD until the RMD amount has been distributed.…
Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. The interest rate on a 30-year fixed-rate mortgage is 7.500% as of April 22, which is unchanged from Friday. Additionally, the interest rate on a 15-year fixed-rate mortgage is 6.625%, which is also unchanged from Friday. With mortgage rates changing daily, it’s a good idea to check today’s rate before applying…
Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. During the week of May 13, 2024, average private student loan rates increased for borrowers with credit scores of 720 or higher who used the Credible marketplace to take out 10-year fixed-rate loans and decreased for 5-year variable-rate loans. 10-year fixed rate: 8.57%, up from 8.14% the week before, +0.435-year variable…
As Americans’ debt grows, recession fears are re-fueled, and the Fed grapples with the pressure to cut rates, Bond King Jeffrey Gundlach shares his grim take on the economy’s obstacles. “I think the data that’s come out is quite concerning over the past week,” the DoubleLine Capital CEO and founder said about the country’s economy on “Mornings with Maria.””A month ago, if you subdivide the economy into six or seven major sectors, all of them were experiencing positive growth. All of a sudden, in those same numbers this year, more are negative than positive, and the positive ones are less…
Check out the companies making headlines in midday trading: Target — Shares of the retailer pulled back more than 7% after a first-quarter earnings miss , underscored by a 3% year-over-year decline in sales. Analog Devices — Stock in the semiconductor manufacturer surged more than 8% after second-quarter results beat analysts’ estimates. Massachusetts-based Analog reported adjusted earnings per share of $1.40 on revenue of $2.16 billion, compared to a consensus estimate from analysts polled by FactSet that forecast $1.26 in earnings per share and $2.11 billion in revenue. Shopify — Shares climbed more than 3% on the heels of an…
Federal Reserve officials grew more concerned at their most recent meeting about inflation, with members indicating that they lacked the confidence to move forward on interest rate reductions.Minutes from the April 30-May 1 policy meeting of the Federal Open Market Committee released Wednesday indicated apprehension from policymakers about when it would be time to ease.The meeting followed a slew of readings that showed inflation was more stubborn than officials had expected to start 2024. The Fed targets a 2% inflation rate, and all of the indicators showed price increases running well ahead of that mark.”Participants observed that while inflation had…
Prison officials began transferring former crypto mogul Sam Bankman-Fried to a new facility early Wednesday, removing him from the Brooklyn, New York, jail where he’s resided for the past nine months, a spokesperson for Bankman-Fried said. It wasn’t immediately clear where he was being transferred, but the spokesperson said Bankman-Fried told people close to him that he believes he is going to Mendota, California, a two-and-a-half-hour drive from his parents’ home near the Stanford University campus. Mendota is home to one medium-security federal correctional institution with an adjacent minimum-security satellite facility, according to the Bureau of Prisons website. Bankman-Fried had…
Last updated: May 22, 2024 13:33 EDT | 2 min read President Joe Biden’s administration will oppose the passage of Financial Innovation and Technology for the 21st Century Act (FIT21) amidst its vote in the House of Representatives, a Wednesday statement from the White House claims.President Joe Biden To Oppose FIT21 Amid VoteThe White House statement says that FIT21 “lacks sufficient protections for consumers and investors who engage in certain digital asset transactions,” but stops short of vetoing the legislation altogether.“The Administration is eager to work with Congress to ensure a comprehensive and balanced regulatory framework for digital assets, building…
