Author: Press Room
Lawyers for disgraced FTX co-founder Sam Bankman-Fried are struggling to meet conditions for their client’s bail, including a requirement that phones used by Bankman-Fried’s parents take photos of the user “every five minutes.”The problems with meeting the conditions of Bankman-Fried’s bail were described in a letter filed with the court on April 19 where the lawyers wrote:“[…] we learned recently that the monitoring software installed on the new cellphones we purchased for Mr. Bankman-Fried’s parents cannot, in fact, automatically photograph the device’s user every five minutes as required by the Order.”The letter added that the defense team has explored “alternative…
As shareholders of Goldman Sachs were showing their disappointment over management’s presentations at February’s investor day just hours earlier — driving the stock down 3.8% on the day — the firm’s chief executive, David Solomon, was floating high above the Atlantic. Cruising along at 43,000 feet, Solomon was aboard the firm’s Gulfstream, bound for the Bahamas. It’s a trip the CEO has made many times before, according to signal data for Goldman’s planes and half a dozen people familiar with the CEO’s schedule. Over 15 months, beginning at the start of 2022, Goldman’s two planes have traveled to the Bahamas at least…
Tesla’s profit margins plunged last quarter after the EV maker made aggressive price cuts. On an earnings call, CEO Elon Musk said he’d push ahead with the strategy. Musk could sacrifice short-term profits to grow Tesla’s market share. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Tesla disappointed its shareholders on April 19 when it revealed how its aggressive price cuts have affected its business.The carmaker started slashing the price of its Model Y SUV and Model 3 sedan in January — and its latest earnings…
LVMH became the first European company to hit $500bn in market capitalisation on Monday after its share price rose and the euro strengthened against the dollar, as the luxury sector continues to benefit from China’s reopening.Shares in the Paris-listed company edged up 0.3 per cent against Friday’s close to €903.7 to briefly achieve a market capitalisation of €454bn. This was equivalent to $500.3bn as the exchange rate hit 1.1019 to the dollar.This marks the first time a European company has ever surpassed the figure, according to Bloomberg. The second and third-biggest companies on the benchmark European Stoxx 600 index are…
Hunter Biden’s lawyer is asking for the Treasury Department’s inspector general and the Office of Congressional Ethics to launch inquiries as part of a broader aggressive strategy to strike back at detractors of President Joe Biden’s son. Abbe David Lowell, the lawyer for Hunter Biden, sent a letter to Deputy Inspector General Richard K. Delmar requesting a review of former Donald Trump aide Garrett Ziegler, who allegedly acquired and published online financial activities of Hunter Biden, known as Suspicious Activity Reports (SARs). A source familiar with Biden’s legal team strategy says that Ziegler is currently a top focus. They recently…
U.S. stock futures were lower on Monday as traders reduced exposure to risk assets ahead of a busy week for company earnings reports.How are stock-index futures trading On Friday, the Dow Jones Industrial Average DJIA rose 22 points, or 0.07%, to 33809, the S&P 500 SPX increased 4 points, or 0.09%, to 4134, and the Nasdaq Composite COMP gained 13 points, or 0.11%, to 12072.What’s driving markets A… Read the full article here
Johnson & Johnson, Southern Co., and Costco Wholesale were among the large U.S. companies that announced dividend increases this week. Johnson & Johnson (ticker: JNJ) said it plans to boost its quarterly disbursement to $1.19 a share from $1.13. That’s an increase of 5%. The stock, which yields 2.9%, has a one-year return of minus 9%, including dividends, through the close on Thursday, compared with minus 6% for the S&P 500. This marks the 61st straight year in which the company will have raised the quarterly dividend. The next dividend is payable on June 6 to shareholders of record at…
America’s car dealers ended March with 1.89 million new cars in stock. That brings them close to pre-pandemic inventory levels. As inventory builds, dealers and automakers start to offer discounts to help attract new customers. In March, the sale price of the average new car slipped below sticker price for the first time in almost two years.Supply measured in days Car… Read the full article here
© Reuters. FILE PHOTO: Shopping carts are seen outside a new Walmart Express store in Chicago July 26, 2011. REUTERS/John Gress (UNITED STATES – Tags: BUSINESS)/File Photo (Reuters) – Walmart (NYSE:) Inc is selling plus-size fashion brand Eloquii Inc just over a week after it agreed to offload menswear label Bonobos, underscoring an effort to improve margins by narrowing focus and building on alternative revenue streams. The buyer, FullBeauty Brands, did not disclose the size of the deal in its statement on Friday. Walmart acquired Eloquii in 2018 for a reported $100 million in its push to appeal to younger…
By Barani Krishnan Investing.com — Natural gas bulls aren’t making much progress beyond the mid $2 level, but a second weekly win of 5% might assure those long on America’s favorite fuel for indoor temperature control that a price breakout could be imminent. The most-active on the New York Mercantile Exchange’s Henry Hub settled down 1.6 cents, or 0.7%, at $2.221 per mmBtu, or metric million British thermal units. For the week though, May gas was up 5.1%, mirroring last week’s run-up. The debate on when the bearish tide would irrevocably turn for ‘natty’ — as the all-season fuel for…
