Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.US government debt yields rose to their highest levels in two weeks on Monday as stubborn inflation and a jump in manufacturing activity dampened expectations for an interest rate cut in 2024.Benchmark 10-year Treasury yields rose 0.13 percentage point to 4.32 percent, while yields on two-year Treasury bonds, which are considered sensitive to interest rate policy, rose 0.09 percentage point to 4.71 percent. At current levels, the jump in yields — which move inversely with price — would respectively rank as the…
Author: ricardofrancois
Check out the companies making headlines in midday trading. Micron Technology – Shares jumped 5.4% after Bank of America raised its price target for the chipmaker. The Wall Street firm expects demand for high-bandwidth memory technology to grow to more than $20 billion by 2027. Cameco – Shares rose 7.9% after Goldman Sachs initiated coverage of the uranium producer with a buy rating, saying there are more than 25 companies % Upside down. Semtech – Shares rose 6.8% after the semiconductor maker last week reported fourth-quarter revenue that beat expectations. Semtech reported revenue of $192.9 million, better than the FactSet…
Former President Donald Trump's digital media company is losing money, and a lot of it. But why is this different from other “startups”, which often struggle to turn a profit for years, if they ever manage to? There are two reasons. First, as a recap: Trump's media and technology conglomerate recently merged with Digital World Acquisition Company in a SPAC, the notorious financial vehicle that represents, more often than not, a last-ditch option for a major cash infusion. The company is listed on Nasdaq as expected with $DJT. An important part of going public is disclosing your finances to the…
A pump crane works in front of a drilling rig at sunset at an oil field in Midland, Texas, on August 22, 2018.Nick Oxford | ReutersCrude oil futures rose on the first day of second-quarter trading on Monday amid reports that the Iranian consulate in Damascus, Syria, was under a missile attack.the West Texas Intermediate The contract for May delivery gained 54 cents, or 0.65%, to settle at $83.71 a barrel. the Brent The June delivery contract added 50 cents, or 0.57%, to $87.50 a barrel.Syrian and Iranian official media reported on Monday that an Israeli missile strike hit the…
California's mandatory minimum wage for fast food workers went into effect Monday, now set at $20 an hour.This is what we know from the pages of The Times:background The wage increase set by Assembly Bill 1228 applies to California fast food workers who work for any chain with more than 60 locations nationwide and covers corporate-owned and franchised locations. The state has more than 540,000 fast food workers, about 195,000 of them in Los Angeles and Orange counties, according to the latest May 2022 numbers from the U.S. Bureau of Labor Statistics.Change California's previous minimum wage, regardless of industry, was…
Signs are placed at the entrance to the Macy's store that is scheduled to close at Bay Fair Mall on February 27, 2024 in San Leandro, California. Macy's announced plans to close 150 underperforming stores across the United States Justin Sullivan | Getty Images News | Getty ImagesMessi It has not yet closed the approximately 150 stores it plans to close. But retail rivals are already smelling the opportunity.In recent interviews with CNBC, Goal CEO Brian Cornell W Cole CEO Tom Kingsbury said the store's decision to downsize gives them an opportunity to increase their sales.Chain off price TG Max…
Des Moines, Iowa – A bill in Iowa that would allow the state to detain and deport some immigrants is raising anxiety among immigrant communities, leaving some wondering: “Should I leave Iowa?”The legislation, which Gov. Kim Reynolds is expected to sign, would make it a state crime for anyone to be in Iowa if they are denied entry to or deported from the United States. It reflects a portion of Texas law that is currently blocked in court.Throughout Iowa, Latino and immigrant community groups are organizing meetings and information materials to try to answer people's questions. They are also asking…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, selects her favorite stories in this weekly newsletter.There's a good reason why so many Americans — 1.6 million according to one estimate — work as real estate brokers or agents. Barriers to entry are low. No college degrees are needed. The standard commission, 5 to 6 percent of the purchase price, is split between the seller's agent and the buyer's agent. It is one of the highest rates in the world.But there is a long-awaited shake-up on the horizon.In a seismic settlement last month, the National Association of Realtors…
Gold bullion and coins.Bright Stars | E+ | Getty ImagesGold prices continued to rise and rose to another record high on Monday, driven by expectations of US interest rate cuts and the metal's appeal as a safe-haven asset.Spot gold It rose 0.6% to trade at $2,245.79 an ounce. Gold futures in the United States It rose more than 1% to trade at $2,266.39 an ounce.“I think it's a really exciting moment for gold,” Joseph Cavatoni, a market strategist at the World Gold Council, told CNBC on Monday. “I think what really drives this is that a lot of speculators in…
Check out which companies are making headlines in pre-market trading. Micron Technology – Shares rose nearly 1.1% after Bank of America increased its price target for the chipmaker, with the analyst predicting demand for high-bandwidth memory technology will grow to more than $20 billion by 2027. Shares of the manufacturers rose by Almost 3% on Monday. 3M has completed its separation from healthcare company Solventum and announced a $10 billion settlement with public water suppliers in a chemical-related lawsuit that has received final approval. JB Hunt Transport, CH Robinson – Trucking stocks fell after Barclays downgraded its stock on Monday.…