Author: Press Room
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Intel on Thursday revealed drastic plans to slash its employee headcount and capital spending in an attempt to put its business back on a stable financial footing, as it suffered the latest setback in its slow-moving turnaround plans.The emergency cost-saving moves include a 15 per cent cut to its workforce, or about 15,000 jobs, with most of the positions set to go this year. To shore up its weakening finances, Intel also scrapped its dividend and announced a surprise reversal in its…
In May, former President Donald Trump declared that he was the only person who could obtain the release of Wall Street Journal reporter Evan Gershkovich from a Russian prison. After President Joe Biden proved the claim wrong on Thursday by securing the release of Gershkovich and others in a multi-country prisoner exchange, Trump posted a series of skeptical questions on social media. Among other things, Trump wrote: “Are we releasing murderers, killers, or thugs? Just curious because we never make good deals, at anything, but especially hostage swaps. Our ‘negotiators’ are always an embarrassment to us! I got back many hostages, and…
Just about any Medicare beneficiary who takes prescription medications has heard about the donut hole. It has had quite an interesting history. When Part D prescription drug coverage began in 2006, those who landed in the donut hole had to pay 100% of the cost for every drug. That’s likely the reason that the official name of this Part D drug payment stage is the Coverage Gap. Insurance companies didn’t pay anything in this stage. Some beneficiaries could not afford this, so they quit taking their medications. Beginning in 2012, once in the donut hole, there were discounts for drugs.…
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 6.625% as of July 19, which is unchanged from yesterday. Additionally, the interest rate on a 15-year fixed-rate mortgage is 5.875%, which is 0.115 percentage points lower than yesterday. With mortgage rates changing daily, it’s a good idea to check today’s rate…
Intel shares slid as much as 13% in extended trading on Thursday after the chipmaker said it would lay off over 15% of its employees as part of a $10 billion cost-reduction plan and reported lighter results than analysts had envisioned. Intel also said it would not pay its dividend in the fiscal fourth quarter of 2024.Here’s how the company did, compared to LSEG analyst expectations:Earnings per share: 2 cents adjusted vs. 10 cents expectedRevenue: $12.83 billion vs. $12.94 billion expectedIntel’s revenue declined 1% year over year in the fiscal second quarter, which ended on June 29, according to a…
American colleges and universities are major training grounds for future Olympians. This year, there are 592 members of Team USA. Three out of four of those athletes played at the collegiate level, according to the U.S. Olympic Committee.Stanford leads the pack with 37 athletes. The school’s most recognizable alum is swimmer Katie Ledecky, who, as of Wednesday, has won 12 Olympics medals in her career, including eight golds — tying Jenny Thompson’s record for the most by any female swimmer in Olympic history.The 27-year-old is still expected to compete in two more events in Paris, which could give her the chance to…
The narrative on Wall Street is shifting. Traders have long placed their bets on the Federal Reserve cutting rates in September, and Fed Chair Jerome Powell basically confirmed as much Wednesday. That rate cut, expected in six weeks, was priced in to stocks, which have been rising over the past few months in hopes of a cut. Rate cuts tend to juice stocks, because they lower borrowing costs for businesses and can help boost profits. But now, fear is starting to take hold, as concerns mount that the Fed may not be acting quickly enough to keep America’s job market in good shape. Powell warned Wednesday that cracks are…
SunCoke Energy, Inc. (NYSE:SXC) Q2 2024 Earnings Conference Call July 31, 2024 11:00 AM ET Company Participants Shantanu Agrawal – Vice President, Finance and TreasurerKatherine Gates – PresidentMark Marinko – Senior Vice President and Chief Financial Officer Conference Call Participants Lucas Pipes – B. Riley SecuritiesNathan Martin – Benchmark Operator Good morning. Thank you all for attending the SunCoke Energy Second Quarter 2024 Earnings Call. My name is Brika, and I will be your moderator today. All lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end. I would…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.French swimmer Léon Marchand won his second and third gold medals on Wednesday night to cement his place as the hometown hero and breakout star of the Paris Olympics.Amid the deafening roar of thousands of fans shouting his name, the 22-year-old from Toulouse came first in the 200m butterfly and then triumphed in the 200m breaststroke — a strong performance given there were only two hours between the races.In the butterfly, Marchand faced tough competition from Hungary’s Kristof Malik, the defending champion…
Former President Donald Trump, the Republican presidential nominee, drew gasps on Wednesday when he said at the National Association of Black Journalists convention that Vice President Kamala Harris, the presumptive Democratic nominee, had suddenly adopted a Black identity. Harris’ father is from Jamaica, her late mother from India. Trump claimed: “I’ve known her a long time, indirectly, not directly very much, and she was always of Indian heritage, and she was only promoting Indian heritage. I didn’t know she was Black until a number of years ago when she happened to turn Black, and now she wants to be known as…
