Author: Press Room
Intel’s long-awaited turnaround looks farther away than ever after the company reported dismal first-quarter earnings. Investors pushed the stock down 10% on Friday to their lowest level of the year.Although Intel’s revenue is no longer shrinking and the company remains the biggest maker of processors that power PCs and laptops, sales in the first quarter trailed estimates. Intel also gave a soft forecast for the second quarter, suggesting weak demand.It was a tough showing for CEO Pat Gelsinger, who’s early in his fourth year at the helm.But Intel’s problems are decades in the making.Before Gelsinger returned to the company in…
Arianna Smith is juggling a lot right now. Smith is editor-in-chief of The Lantern, Ohio State University’s student-run newspaper, which has scrambled in recent days to cover pro-Palestinian protests roiling the campus. It’s also finals week, and in the coming days the newspaper’s staff will transition to the next year’s staff. But the news doesn’t account for exams. “We have had reporters and editors drop everything they are doing [to cover the story], even though they have finals that they should be studying for,” Smith told CNN. As universities across the country crack down on demonstrations over Israel’s military actions in Gaza and police arrest hundreds of…
Last updated: April 26, 2024 11:21 EDT | 3 min read The Fidelity Wise Origin Bitcoin (FBTC) ETF, a key player in the spot Bitcoin exchange-traded fund (ETF) market, experienced a significant setback on Thursday, with a first day of net outflows since launch. It recorded a noteworthy outflow of nearly $23 million, marking a significant event in the cryptocurrency market.This outflow trend, the first of its kind since its introduction in January, had a ripple effect beyond Fidelity Bitcoin ETF. It impacted other prominent funds in the cryptocurrency market, painting a broader picture of the market’s current state.On the…
The biggest lottery jackpot ever won, a huge prize of $2.04 billion, was in California in 2022. A New Jersey winner just set a Mega Millions jackpot record: an estimated $1.13 billion. In 2019, a North Carolina man won $344 million after using numbers from a fortune cookie. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app A Mega Millions lottery ticket winner in New Jersey just set a record for the biggest jackpot in the state and what could be the fifth-largest jackpot in the history of Mega…
A new iPhone update suggests a Palestinian flag emoji when users type ‘Jerusalem.’Apple says the change was unintentional and promised to rectify it in a future update.But many Israel supporters online were furious with the change. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app A new software update means that iPhone users in Britain who type in “Jerusalem” are now presented with a Palestinian flag emoji.The change resulted from an Apple feature called predictive emoji, which suggests emojis based on typed words.According to Apple, the change was unintentional,…
We previously covered Star Bulk Carriers (NASDAQ:SBLK) in December 2023, discussing its excellent intermediate-term prospects through the sustained fleet renewal, moderating net debt situation, and the promising dry bulk outlook through 2024. With the global economy already in its down cycle, we believed that there might be an excellent upside potential to the intermediate-term demand recovery for dry bulk commodities. In this article, we shall discuss why SBLK remains a viable dividend investment thesis, with the higher TCE rates likely to boost its adj EBITDA generation and eventually, its quarterly dividend payouts through Q3’24. At the same time, the merger…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The US is pushing allies in Europe and Asia to tighten restrictions on exports of chip-related technology and tools to China amid rising concerns about Huawei’s development of advanced semiconductors.Washington wants Japan, South Korea and the Netherlands to use existing export controls more aggressively, including stopping engineers from their countries servicing chipmaking tools at advanced semiconductor fabs in China, according to five people familiar with the conversations.The Biden administration introduced sweeping export controls in 2022 that included a ban on “US persons”…
The Justice Department is investigating McKinsey & Company, one of the world’s largest consulting firms, over its role in advising drug companies on how to boost sales of opioids, according to sources familiar with the matter. Prosecutors from Virginia and Massachusetts are leading the criminal investigation, the sources said, and are coordinating with the Justice Department’s civil division in Washington, DC. The probe is focused on advice that McKinsey gave to pharmaceutical companies about selling the highly addictive prescription drugs, sources said. CNN has reached out to McKinsey for comment. Critics have said that McKinsey’s work to help opioid manufacturers…
In a recent transaction, Elizabeth H. Baran, Senior Vice President and General Counsel at Dick’s Sporting Goods, Inc. (NYSE:), sold shares of the company’s common stock. On March 22, 2024, Baran sold 2,175 shares at a price range of $221.78 per share, totaling over $482,000.The same day, Baran also acquired 2,175 shares of Dick’s Sporting Goods through the exercise of stock options, with the exercise price adjusted to $11.31 per share due to a special cash dividend paid by the company in 2021. This adjustment is in accordance with the company’s Amended and Restated 2012 Stock and Incentive Plan. The…
We have a retirement income crisis, and ordinary workers don’t have much hope of retiring and maintaining their standard of living if they don’t have retirement savings and expanded Social Security. One doesn’t replace the other. Workers need both. Since we crushed unions and the wealthy got their tax cuts in many forms, the idea of retirement has slipped from view. All advocates of worker income security need to concentrate on the many levers to secure retirement income. Yesterday in The Hill, Nancy J. Altman — a respected analyst of Social Security costs and benefits and who had been a…
