Los Angeles police arrested two people Wednesday morning outside an unfinished downtown skyscraper that has become a magnet for tagging, with more than 25 floors covered in graffiti, authorities said. The two men were arrested after a group of about five people were seen running toward the Oceanwide Plaza location in the 1100 block of Figueroa Street around 2 a.m. The group jumped a fence and entered the unfinished skyscraper, Los Angeles Officer Rosario Cervantes said. The police department said. The two men were not immediately identified, but Los Angeles police officials said they were 20 and 24 years old.…
Author: ricardofrancois
Washington – The Supreme Court announced Wednesday that it will hear arguments and rule on whether former President Trump is immune from prosecution over the Jan. 6 mob attack on the U.S. Capitol.Even if the justices ultimately rule against Trump, their decision to intervene now will delay his trial by several months, casting doubt on whether the criminal case can go to a jury before the fall as the campaign accelerates. The justices said they would hear arguments the week of April 22. They said they would decide the following question: whether — and if so, to what extent —…
US stocks fell on Wednesday, just shy of all-time highs.The Standard & Poor's 500 index fell by 8.42 points, or 0.2%, to 5,069.76 points, continuing its quiet march since it hit a record high last week. The Dow Jones Industrial Average fell 23.39 points, or 0.1%, to 38,949.02 points. The Nasdaq Composite Index fell 87.56 points, or 0.5%, to 15,947.74 points, a day after it fell 0.1% from the record set in 2021.Treasury yields also fell in the bond market after a report said the US economy may have grown slightly slower at the end of 2023 than previously expected.…
Paramount Global It missed revenue expectations for the fourth quarter on Wednesday but posted a surprising quarterly profit and delivered strong results from its streaming platform Paramount+.Here's how Paramount performed in the fourth quarter compared to Wall Street estimates from LSEG, formerly known as Refinitiv:Earnings per share: 4 cents vs. an expected loss of 1 cent Revenue: $7.64 billion vs. $7.85 billion expectedIn the last three months of 2023, Paramount reported earnings of $514 million, or 77 cents per share, up from $21 million, or 1 cent per share, the previous year. Adjusted for one-time items, earnings per share were…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.Bitcoin has risen above $60,000 for the first time in more than two years, with a rapid rise putting the world's largest cryptocurrency within striking distance of all-time highs.Bitcoin rose as much as 12.6 percent to $63,968 on Wednesday, before retreating to about $60,000. The rise has brought its gains to 42 percent in the first two months of this year. The meteoric rise has revived memories of the cryptocurrency bull market that pushed the token to its record peak of around…
Check out the companies making headlines in midday trading. Beyond Meat – Shares of the plant-based meat company rose more than 30% after its revenue increased. Beyond Meat reported fourth-quarter revenue of $73.7 million, versus consensus estimates of $66.7 million, per LSEG, formerly known as Refinitiv. The company also said it will “sharply reduce costs” this year. Bumble – The dating app stock fell 15% after reporting fourth-quarter earnings that fell short of Wall Street expectations and posted an unexpected loss of 19 cents per share. Bumble also issued first-quarter EBITDA guidance that came in weaker than expected. The company…
Apple offered investors more reasons to like its stock after the company scrapped its decade-long self-driving electric car project, and CEO Tim Cook spoke about the iPhone maker's artificial intelligence vision. The tech giant announced the end of its self-driving electric vehicle endeavors internally on Tuesday, Bloomberg News reported, citing people familiar with the matter. Bloomberg said many employees on the nearly 2,000-person team will be assigned to work in Apple's artificial intelligence unit instead. At Apple's virtual shareholder meeting a day later, Cook said the tech giant sees “amazing breakthrough potential for generative AI, which is why we're currently…
The Webull logo is displayed on the smartphone screen.Rafael Henrique | SOPA Photos | LightRocket | Getty ImagesWebull plans to go public by merging with a special purpose acquisition company in a deal that values the digital investment platform at $7.3 billion.The New York-based online brokerage will merge with… SK Company for growth opportunities In the second half of the year, pending regulatory and shareholder approvals. The combined company will be listed on the Nasdaq under the name Webull under a new ticker.Stock chart icon Stock chart iconSK Growth Opportunities (SKGR), YTDSpecial purpose acquisition companies, or SPACs, raise capital in…
Carl Icahn's bombardment of corporate boardrooms made him one of the most famous and feared activist investors on Wall Street. It derives much of its firepower from a humble source: a small oil refining and nitrogen fertilizer company in the heart of the United States. CVR Energy will distribute a $30 million dividend to investor Icahn Enterprises next month, on top of about $300 million sent out over the past 12 months. Since 2012, Icahn Enterprises has collected $3.2 billion in profits from CVR, a Financial Times analysis shows. Its $2 billion stake became the most valuable asset within Icahn's…
As markets await the direction of inflation, Thursday's report, which often flies under the economic radar, is likely to gain greater importance. The Commerce Department's measure of PCE prices could add to the evidence that inflation is more persistent than some economists and policymakers had thought. The January reading is expected to show that the cost of living remains above the Fed's target, despite nearly two years of strict policy aimed at halting the trend. A popular measure among central bank officials, the so-called PCE often takes a back seat in importance among investors to monthly CPI readings. But maybe…