Author: Press Room

By Barani Krishnan Investing.com — OPEC+ appears to have hit bull’s-eye with its to recapture $80 and above for a barrel. The oil cartel, however, isn’t the only one capable of delivering a surprise: U.S. factories are too, with a weaker-than-expected manufacturing report for March. As crude prices posted their the largest one day gain in a year on Monday, the so-called ISM manufacturing report countered OPEC+’s surprise production cut that triggered inflation jitters. The preliminary reading for last month came in at 46.3 versus a forecast 47.5 and the February reading of 47.7. “This is the fifth month in…

By Peter Nurse Investing.com – The U.S. dollar steadied in early European trade Monday on rising optimism the U.S. banking turmoil could be contained, although confidence in the sector remained fragile. At 03:15 ET (07:15 GMT), the , which tracks the greenback against a basket of six other currencies, traded largely unchanged at 102.745, above the seven-week low seen last week. News released early Monday that First Citizens BancShares (NASDAQ:) agreed to acquire Silicon Valley Bank’s deposits and loans has soothed market nerves surrounding the health of smaller U.S. banks. This followed both U.S. Treasury Secretary Janet Yellen and Federal…

By Devjyot Ghoshal and Napat Wesshasartar BANGKOK (Reuters) – Thailand’s decriminalisation of cannabis has delighted its fans, alarmed some health experts and has increasingly disappointed farmers who have been undercut by illegal imports, sending a promise of a new bonanza crop up in smoke. Marijuana has also become an election football with the opposition criticising the ruling pro-military coalition in the run-up to May 14 polls for rushing through decriminalisation last year to what they say is the detriment of society, youngsters in particular. Thousands of cannabis shops and businesses have sprung up, especially in Bangkok and tourist spots, since…

We believe UPS stock (NYSE: UPS) and its peer FedEx stock (NYSE: FDX) will offer similar returns in the next three years. Although UPS is trading at a comparatively higher valuation multiple of 1.6x trailing revenues than 0.6x for FedEx FDX , this valuation gap is justified, given the former’s superior revenue growth, profitability, and financial position. Looking at stock returns, FedEx, with 33% returns this year, has fared much better than UPS stock, up 9%, and the broader S&P500 index, up 7%. There is more to the comparison, and in the sections below, we discuss the possible returns for…

While the federal government talks a big game when it comes to making higher education more affordable, student loan debt figures show the talking points and programs do not move the needle much in the real world. The fact is, cumulative student debt for Americans has now reached a staggering $1.75 trillion dollars with $28,950 owed per borrower on average. Around 92% of student loans in 2023 were federal as well, with the remaining debt coming from private student loans. Obviously, these figures didn’t get any better during the pandemic since students were still borrowing but federal student loan payments…

After the Internal Revenue Service (IRS) released its roadmap showing exactly how it’s going to spend tens of billions of dollars over the next decade, economists are sounding off that the plan confirms their worst tax fears. “I think you’re going to see some major fights ahead on the budget where Republicans say: hell no, we’re not going to give you tens of billions of dollars more money,” FreedomWorks senior economic contributor and former Trump adviser Stephen Moore said on “Varney & Co.” Monday.”[Democrats and Biden] have made it very clear that their rhetoric was going to go after rich…

Why the new EVs credit may be harder to claimThe Inflation Reduction Act, which President Joe Biden signed in August, set various manufacturing requirements for new all-electric and plug-in hybrid vehicles to be able to qualify for the full $7,500 tax credit.As of Aug. 17, for example, final assembly of the car had to take place in North America.The final two requirements — which apply to the sourcing of car battery components and critical minerals — will kick in on April 18 and phase in over a few years, according to the Treasury Department.More from Personal Finance:Are you tax-savvy? Take…

Pfizer’s CEO signed on to an open letter calling for the reversal of a federal judge’s decision to suspend the Food and Drug Administration’s approval of the abortion pill mifepristone.Albert Bourla was among the more than 200 pharmaceutical company executives who signed the letter after U.S. Judge Matthew Kacsmaryk’s controversial ruling Friday.”We call for the reversal of this decision to disregard science, and the appropriate restitution of the mandate for the safety and efficacy of medicines for all with the FDA, the agency entrusted to do so in the first place,” the letter said.The executives said Kacsmaryk’s decision “ignores decades…

West Virginia has settled a lawsuit with e-cigarette maker Juul Labs for a total of $7.9 million, the state’s attorney general announced Monday. The company was accused of unfair, deceptive acts or practices in the advertising and marketing of Juul products in the state, specifically targeting teenagers. The lawsuit claimed Juul targeted these underage users through social media, influencer marketing and fashion bloggers and celebrities popular with teenagers. “This settlement puts companies like Juul in check to not copy big tobacco’s playbook and gear marketing strategies toward underage people,” West Virginia Attorney General Patrick Morrisey said. Morrisey said the court…

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