In 1977, and again in 1978, the Dodgers lost the World Series to the hated New York Yankees. The third time was the charm: In 1981, the Dodgers beat the Yankees.“Fernandomania” dominated the regular season, but Fernando Valenzuela struggled during his only World Series start. He pitched a complete game — a 5-4 win — but walked seven and struck out 147 pitches. The Dodgers' cleanup hitter in that game, first baseman Steve Garvey, batted .417 in the World Series. Four decades later, Garvey is running for US Senate. On Wednesday, two of his teammates on his 1981 championship team…
Author: ricardofrancois
Austin, Texas — A federal judge on Thursday blocked a new law in Texas that gives police broad powers to arrest immigrants suspected of illegally entering the United States, marking a victory for the Biden administration in its dispute with Republican Gov. Greg Abbott over immigration enforcement. The preliminary injunction issued by U.S. District Judge David Ezra temporarily halts the law that was scheduled to take effect on March 5, and came as President Biden and his likely November Republican rival, Donald Trump, were visiting Texas' southern border to discuss immigration. Texas officials are expected to appeal. Opponents called the…
People walk past a Best Buy store in Manhattan, New York City, November 22, 2021.Andrew Kelly | ReutersBest buy It beat Wall Street's revenue and profit expectations for the holiday quarter on Thursday, even as the company went through a period of tepid demand for consumer electronics.But the retailer warned of another year of weak sales and said it would lay off workers and cut other costs across the company. CEO Corey Barry offered few details, but said the company must ensure its workforce and stores align with customers' changing shopping habits. She added that the cuts would free up…
Inflation rose in line with expectations in January, according to an important measure the Federal Reserve uses as it trades interest rate cuts.The PCE price index, excluding food and energy costs, rose 0.4% during the month and 2.8% from a year ago, as expected according to Dow Jones estimates. Monthly gains were just 0.1% in December and 2.9% from a year earlier.The headline personal consumption expenditures index, including the volatile food and energy categories, rose 0.3% monthly and 2.4% on a 12-month basis, compared with estimates of 0.3% and 2.4%, respectively, according to figures released Thursday by the Bureau of…
Hyundai Motor Group It is the world's third-largest carmaker by volume – but that wasn't always the case. In the late 1980s and 1990s, Hyundai cars were ridiculed in America for being cheap and low quality. But this is no longer the case.The automaker's three vehicle brands — Hyundai, Kia and Genesis — are trailing established competitors, winning an ever-growing list of industry awards. They sold a combined 7.3 million units in 2018. 2023, trailing only Toyota Motor (11.2 million) and Volkswagen Group (9.24 million). “The Hyundai we see today, especially from an American perspective, will surprise people if they…
Moot Storm | E+ | Getty Images”Ghosting” isn't just a dating phenomenon: it's becoming more common in the workplace, too. Recruitment experts said this unreliable behavior risks damaging the reputation of employers and job seekers.The concept of ghosting — suddenly and unexpectedly ceasing to communicate with someone (i.e., disappearing) — arose around the mid-2010s with the growing importance of social media and dating apps. Merriam-Webster added the new-age definition of “ghost” to the dictionary in 2017.This practice has become common among job applicants and employers during the hiring process.More personal finance:How to live without a salary after losing a jobAmid…
Check out the companies making headlines before the bell. Snowflake – The cloud data company sank after posting disappointing Q1 product revenue guidance and announcing the retirement of CEO Frank Slootman. Snowflake said it expects product revenue to range between $745 million and $750 million in the current period, less than the $759 million expected by analysts surveyed by StreetAccount. Morgan Stanley also downgraded cloud stocks to equal weight. C3.ai – AI software stock rose more than 15% on strong earnings. C3.ai reported a lower-than-expected adjusted loss per share of 13 cents. Revenues also exceeded expectations. Salesforce – Salesforce stock…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.UK mortgage approvals rose more than expected in January, reaching their highest level since October 2022 as borrowing costs fell, according to Bank of England data pointing to a recovery in the property market at the start of the year.Net mortgage approvals for home purchases rose from 51,500 in December to 55,200 in January, the highest level in 15 months and higher than the 52,000 forecast by economists polled by Reuters.The Bank of England said January's “effective” interest rate – a measure…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.Private equity-owned German real estate bank Ariel warned there was “more to come” after one in four of its US office loans defaulted last year.The warning highlights how the pressures are being felt in US commercial real estate outside North America, where higher interest rates have made loans more expensive and lower demand for office space weighed on valuations. Aareal, owned by Advent International and Centrebridge Partners, and its listed German peer Deutsche Pfandbriefbank, have been particularly hard hit by their exposure…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.This quiet little corner of the financial markets has become a lot noisier lately. Senior risk transfers, a tool banks use to pool loans, can protect against credit risk. But more importantly, these trades can also reduce risk-weighted assets. SRT transactions have more than doubled globally to 200 billion euros in the two years to 2022, according to data from S&P Global.Reducing risk-weighted assets is a way for banks to free up capital held against these assets (mostly loans) on their balance…