Author: Press Room

Semafor reported that execs at some big advertisers had concerns about Elon Musk’s “racist rhetoric.” McDonald’s marketing chief feared Musk was “perpetuating racism” under “the guise of freedom of speech.” A Colgate-Palmolive exec said she was “mindful of the harmful and often racist rhetoric” of Musk, per Semafor. 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 Representatives of big advertisers including McDonald’s and Colgate-Palmolive expressed concern that Elon Musk’s free speech agenda at Twitter is “perpetuating racism,” according to an email chain obtained by…

As an investor, one of the things you don’t want is for your company to do a major announcement via an SEC filing without a press release. Generally, no good comes out of these. We saw one on the Good Friday holiday from First Republic Bank (NYSE:FRC.PK) and it contained news that likely made investors worried. On April 6, 2023, and as a measure of prudent oversight, the Board of Directors (“Board”) determined to suspend payment of the quarterly cash dividend on each series of the Bank’s outstanding noncumulative perpetual preferred stock set forth below (the “Preferred Stock”). Under the…

A Saudi Arabian delegation has arrived in Yemen to negotiate an end to the long-running war that has pitted the kingdom and its allies against the Iran-backed Houthi militia group.The delegation, and a team from Oman which had mediated negotiations, are due to meet a top rebel leader in the Houthi capital Sana’a in the coming days, in order to “lift the siege and end the aggression”, a Houthi news agency said on Sunday.Diplomats had said in recent weeks that there was progress in talks, and the visit comes after Saudi Arabia agreed to normalise relations with Iran, which had…

Highly classified Pentagon documents leaked online in recent weeks have provided a rare window into how the US spies on allies and foes alike, deeply rattling US officials, who fear the revelations could jeopardize sensitive sources and compromise important foreign relationships. Some of the documents, which US officials say are authentic, expose the extent of US eavesdropping on key allies, including South Korea, Israel and Ukraine. Others reveal the degree to which the US has penetrated the Russian Ministry of Defense and the Russian mercenary organization Wagner Group, largely through intercepted communications and human sources, which could now be cut…

First-quarter earnings season kicks off this week. Results from big U.S. banks later in the week will be heavily scrutinized for the impact of the past month’s turmoil in the sector. Economic-data highlights will include the latest inflation data and minutes from the Federal Open Market Committee’s late-March meeting. Albertsons and CarMax will report on Tuesday, followed by Delta Air Lines and Fastenal on Thursday. Things pick up on Friday: Citigroup, JPMorgan Chase, Wells Fargo, BlackRock, and UnitedHealth Group are all scheduled to release their first-quarter results. The Bureau of Labor Statistics will release the consumer price index for March…

About the author: Edward Price is principal at Ergo, a global intelligence, consulting, and forecasting firm. A former British trade official, he also teaches at New York University’s Center for Global Affairs.KYIV, Ukraine—Air raid sirens. Bomb shelters. Captured Russian tanks. All are plentiful in this war-stricken city. But Kyiv is also a city at work. And on the last Friday in March, the city’s boulevards buzz. Were it not for the occasional soldier, and the golden turrets of turquoise Orthodox churches, I could be in France. Only Kyiv seems calmer than riotous Paris.   I’ve strolled downtown to meet Sergii Marchenko, Ukraine’s 42-year-old…

I just bought a used electric vehicle, so now I’d like to install a solar array to offset the additional electricity use. My tax liability for 2023 will be enough to get full benefit of the used EV tax credit or the (guesstimated) solar tax credit. But not enough for both.  If I claim both for 2023, will the IRS apply the EV credit first and let me roll over the solar credit to 2024? Or will it apply the solar credit first, which means I get nothing for the EV credit since it doesn’t roll over?  If the latter I’ll…

The meme-stock frenzy of 2021 focused the public’s attention on market structure with unprecedented intensity. Flush with COVID stimulus funds and hemmed indoors by pandemic restrictions, Americans took advantage of no-commission trading services like Robinhood HOOD, +2.67% to gobble up high-flying stocks made famous on social media. It was a wild ride, until the intensity of the frenzy became its undoing. The unprecedented volume of buy orders for shares of GameStop GME, +1.50% and other meme shares forced brokers to cut off customers, leading to widespread outrage and intense scrutiny of the plumbing of U.S. financial markets. U.S. Securities and…

© Reuters. FILE PHOTO: Toy figures of people are seen in front of the displayed Paramount + logo, in this illustration taken January 20, 2022. REUTERS/Dado Ruvic/Illustration (Reuters) -Paramount Global is exploring the sale of a majority stake in Noggin, its online learning service for children, the Wall Street Journal reported on Friday, citing people familiar with the situation. The company is looking at an opportunity to develop Noggin, which is known for content like “PAW Patrol” and “Peppa Pig”, into an interactive learning platform, and is seeking an investor for the job, the report said. Paramount wants to retain…

By Erwin Seba and Laura Sanicola HOUSTON/WASHINGTON (Reuters) – Saudi Arabia and other OPEC+ oil producers announced over the weekend they would launch deep oil production cuts starting next month, a surprise move that sent oil prices surging.   OPEC+, which supplies about 60% of the world’s petroleum trade, called the cuts a precautionary measure to support a stable market. The OPEC+ group, which includes allied producers such as Russia, has some of the best information on global supply and demand, yet the surprise decision came two weeks after it reiterated expectations for a 2.32 million barrel per day increase in…