Author: Press Room
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.A strike that closed US east and Gulf coast ports will be suspended after the dockworkers’ union and the group representing ocean carriers reached an agreement on Thursday, averting for now a costly blow to the economy ahead of the presidential election. The agreement extends the International Longshoremen’s Association’s employment contract, which had expired, until January 15. It will allow them to return to work for the first time in three days, the union and the shipping lines’ group said in a…
The FBI and Department of Homeland Security are concerned that “election-related grievances,” such as a belief in voter fraud, could motivate domestic extremists to engage in violence in the weeks before and after the November election, as it did during the January 6, 2021, attack on the US Capitol, according to a new intelligence bulletin from the agencies. Domestic violent extremists [DVEs] “continue to create, exploit, and promote narratives about the election process or legal decisions involving political figures, and we are concerned that these grievances could motivate some DVEs to engage in violence, as we saw during the 2020…
The golden years are something to anticipate. Life is expected to become easier and less complicated with time for family, traveling, and hobbies becoming attainable. A comfortable retirement is part of the American dream; however, this dream has a price tag and the burden of saving for retirement luxuries has fallen to the individual. Each generation, and every individual person, faces different issues in accumulating retirement savings including the lack of employer sponsored plan options, failure to start saving until later in life, and a general lack of retirement funding. At the heart of these matters is an overwhelming degree…
Mortgage rates are up slightly, with long-term notes lifting off a two-year low from last week. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage inched up to 6.12% from last week’s reading of 6.08%. The average rate on a 30-year loan was 7.49% a year ago. “The decline in mortgage rates has stalled due to a mix of escalating geopolitical tensions and a rebound in short-term rates that indicate the market’s enthusiasm on rate cuts was premature,” said Sam Khater, Freddie Mac’s chief economist. “Zooming out to the bigger…
A federal judge on Wednesday set back Republican efforts to thwart President Biden’s student loan bailout, allowing the government to proceed with his debt cancellation plan weeks before the November election. U.S. District Judge Randal Hall of Augusta removed Georgia from a lawsuit brought by seven Republican-led states against the Biden administration after he determined the Peach State lacked standing to sue over the loan forgiveness action. The judge said Georgia had failed to show it would be harmed by the administration’s plan to eliminate $73 billion in student loan debt held by tens of millions of Americans.The decision came…
Check out the companies making headlines in midday trading. EVgo — Shares soared nearly 61% after the electric vehicle charger company received a $1.05 billion conditional loan from the Department of Energy. JPMorgan also upgraded EVgo to overweight . Analyst Bill Peterson pointed to EVgo’s utilization rate compared to peers as well as its owner-operator model. Hims & Hers Health — The health and wellness platform saw shares plunge 9.6% after the U.S. Food and Drug Administration said the shortage of popular Zepbound and Mounjaro weight loss drugs from Eli Lilly has been resolved. Hims & Her Health had previously…
As the East and Gulf Coast ports strike continues for a third day on Thursday, consumer fears over product shortages have led to panic buying along the East Coast and Gulf Coasts, with shoppers buying up toilet paper and other household items, leaving barren shelves in their wake.The National Grocers Association, which represents more than 1,500 members in the independent supermarket sector — family-owned or privately-controlled food retail companies — told CNBC it is conveying to the public the need to remain calm. Nationally, there are more than 21,000 independent grocery stores in the United States, generating more than $250…
Starbucks’ Howard Schultz, who was interim CEO at the time, broke federal labor law in 2022 by telling a California barista who raised concerns about unionization that “if you’re not happy at Starbucks, you can go work for another company.” A decision by the National Labor Relations Board on Wednesday said Schultz’s statement was an unlawful, coercive threat. The decision underscores the fractious relationship Starbucks has had with organized labor as more and more workers at its stores unionize. In 2022, when Schultz was interim CEO, he attended a company event in Long Beach, California, to address and improve working…
Bitcoin’s bull market cycle is accelerating, CoinMarketCap says. It’s running 100 days ahead of its typical four-year cycle. This raises the possibility of a “super cycle” fueled by institutional adoption, ETFs, and changing market dynamics. Read the full article here
This article was written byFollowMichael Del Monte is a buy-side equity analyst with over 5 years of industry experience. Prior to working in the investment management industry, Michael spent over a decade in professional services working in industries that range from O&G, OFS, Midstream, Industrials, Information Technology, EPC Services, and consumer discretionary.Michael takes a macro-value-oriented approach to investment analysis and prides himself in being able to make investment recommendations based on cross-industry analysis.Analyst’s Disclosure: I/we have a beneficial long position in the shares of AMD either through stock ownership, options, or other derivatives. I wrote this article myself, and it…
