Author: Press Room
Initial indications are that a US MQ-9 Reaper drone that crashed near Hodeidah in Yemen early Monday morning was shot down by a Houthi surface-to-air missile, a US official said Tuesday. Previously, officials said it was unclear if the drone had been shot down or simply crashed. A spokesperson for the Iran-backed Houthi rebels in Yemen said in a statement posted to X on Monday that the MQ-9 was shot down “with a suitable missile.” The incident on Monday is still being investigated. The Houthis also shot down a MQ-9 — which is an unmanned drone typically used for intelligence collection — in…
Ford Motor Co.’s stock rose 3% Wednesday after an upbeat earnings report that also spurred buying of its outstanding bonds and helped spreads tighten over U.S. Treasurys. The car company’s F, -0.95% fourth-quarter revenue topped consensus estimates, it announced a next-generation, smaller EV to rival Tesla Inc.’s TSLA, -5.27% upcoming “Model 2,’ and it unveiled a special dividend along with plans for $2 billion in cost cuts this year. The year 2023 was “solid,” but Ford is nowhere near done, Chief Executive Jim Farley said in a call after the results. “We are really positioned well for growth and for profitability,…
A day after January’s hotter-than-expected consumer-price index drew a strong response from financial markets, investors and traders were questioning whether that knee-jerk reaction was justified or went a bit too far.On Wednesday, equities finished higher following a sharp selloff in the previous session and buyers returned to the Treasury market, pushing most yields lower. Only a day ago, stocks and bonds sold off in tandem: the Dow Jones Industrial Average DJIA fell by 524.63 points or 1.4% for the largest one-day decline since March 22, 2023 and Treasury yields finished at their highest levels in months.Perhaps the biggest reason why…
MOSCOW (Reuters) – • This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine More than a dozen tankers loaded with 10 million barrels of Russia’s Sokol grade have been stranded off the coast of South Korea for weeks, so far unsold due to U.S. sanctions and payment issues, according to two traders and shipping data. The volumes, equating to 1.3 million metric tons, represent more than a month’s production of the Sakhalin-1 project, once a flagship venture of U.S. major Exxon Mobil (NYSE:), which exited Russia after Moscow’s invasion of Ukraine. Sakhalin-1…
By David Shepardson WASHINGTON (Reuters) -The White House on Friday touted the U.S. government’s plan to spend $11 billion on semiconductor-related research and development and said it was launching the $5 billion National Semiconductor Technology Center. Congress in August 2022 approved the landmark Chips and Science Act. The law provides that $52.7 billion, including $39 billion in subsidies for semiconductor production and $11 billion research and development. It also creates a 25% investment tax credit for building chip plants, estimated to be worth $24 billion. The centerpiece of the R&D program is the National Semiconductor Technology Center, which will conduct…
The tax-free quality of money in a 529 tuition savings plan can be continued, even after the education spending need has passed, thanks to a provision in the SECURE Act 2.0. But the rules aren’t simple or straight forward. The hurdles in the law mean the rollover isn’t available to many who would like to use it. A 529 college savings plan is an efficient way to save for college and many other education expenses. After-tax money is transferred to the account. Investment earnings compound tax deferred in the 529 account. Distributions are tax free when spent on qualified education…
A coalition of unions is laying out its case against Starbucks ahead of a proxy fight at its annual meeting in March, arguing the coffee giant has implemented a “flawed human capital management strategy” in response to a yearslong union movement.The Strategic Organizing Center claims the situation has put the company at reputational risk, diminishing shareholder returns and isolating customers, based on polling conducted for a shareholder presentation. The coalition is pushing to replace three current Starbucks board members with its own nominees. It plans to file the investor presentation with the U.S. Securities and Exchange Commission on Tuesday.”The Board’s…
Shortly after the opening bell, we will be selling 420 shares of Wells Fargo , at roughly $51.75 each. Following the trade, Jim Cramer’s Charitable Trust will own 2,670 shares of Wells Fargo, decreasing its weighing to 4.25% from 4.93%. Wells Fargo shares jumped roughly 8% last week to a new 52-week high after the bank said the Office of the Comptroller of the Currency terminated a 2016 consent order linked to its sales practice misconduct. There are eight consent orders still outstanding, CNBC reported last week, but this was an important one for Wells Fargo to get done because…
Wyze, a smart camera maker, said that some users last week saw footage from cameras that weren’t their own because of a security glitch. In an email to users sent Monday, the company said an outage that lasted several hours last Friday briefly left camera footage inaccessible because of an glitch with its cloud computing partner AWS. As Wyze worked to bring the cameras back, about 13,000 users “experienced a security issue” where they saw wrong thumbnails from other users in the Wyze app. About 1,500 users clicked on the tabs showing the other people’s footage, which enlarged the thumbnail…
Watch full video on YouTube
