This is The Takeaway from today’s Morning Brief, which you can sign up to receive in your inbox every morning along with: The US 10-Year Treasury Note yield (^TNX) jumped 9 basis points Wednesday to settle at 3.945% — the highest level since just before the mini bank panic in […]
Finance
There were about half a million fewer job openings in May than the previous month, providing at least a modest sign that the ultra-tight labor market could be loosening a bit, the Labor Department reported Thursday. The closely watched Job Openings and Labor Turnover Survey showed that listings fell to […]
Home affordability took another hit this week as mortgage rates neared 7%, forcing many buyers to stick to the sidelines. The rate on the 30-year fixed mortgage increased to 6.81% from 6.71% the week prior, according to Freddie Mac, the highest level in 2023 and since November. Rates followed an […]
Car shoppers like luxury Well before the Covid-19 pandemic, consumer tastes had started to steadily shift away from sedans toward more expensive SUVs and trucks. Then, car buyers piled on options, such as high-tech touch screens, ambient lighting, 360-degree cameras and heated and cooled seats. “There’s a war of features,” […]
This is The Takeaway from today’s Morning Brief, which you can sign up to receive in your inbox every morning along with: I have been surprised by a few things at this juncture in 2023. First, I don’t appear to be aggressively aging three months or so into my new […]
James Crown, an American businessman and billionaire, died in a car crash Sunday at a racetrack in Colorado, officials said. He was 70. Crown, known for his philanthropy and leadership in Chicago, suffered evident blunt force trauma in a single-vehicle accident at Aspen Motorsports Park in Woody Creek, the Pitkin […]
Antonio Suarez Vega | Istock | Getty Images When it comes to how much they will need to comfortably retire, Americans have a “magic number” in mind — $1.27 million, according to new research from Northwestern Mutual. That’s up from $1.25 million last year, the financial services firm found, based […]
[1/6]A general view of the Bank of America financial center in New York City, U.S., June 26, 2023. REUTERS/Brendan McDermid NEW YORK, June 27 (Reuters) – Bank of America Corp (BAC.N) is adding consumer branches in four new U.S. states, it said on Tuesday, bringing its national footprint closer to […]
A number of clinical trial data provided a peek into the stiff competition developing in the obesity treatment space as three drug giants battle for a piece of what is estimated to be a $100 billion market by the end of the decade. Novo Nordisk (NVO), the market leader, currently […]
TORONTO, June 20 (Reuters) – Canada’s financial regulator on Tuesday said it was raising the amount of capital the country’s biggest lenders must hold as a stability buffer by 50 basis points to 3.5%, citing rising borrowing costs, high debt levels and stress on the financial system. The Office of […]
Geron Corporation (NASDAQ: GERN) submitted a marketing application with the FDA seeking approval for imetelstat for the treatment of transfusion-dependent anemia in adult patients with low- to intermediate-1 risk myelodysplastic syndromes who have failed to respond or have lost response to or are ineligible for erythropoiesis-stimulating agents. The submission is based […]
[1/2]A U.S. flag flies outside a branch of the Silicon Valley Bank in Wellesley, Massachusetts, U.S., March 13, 2023. REUTERS/Brian Snyder WASHINGTON, June 20 (Reuters) – The U.S. Justice Department antitrust division plans to expand the scope of its bank merger review process, the department’s chief said on Tuesday, in […]
Gannett (GCI), the United States’ largest newspaper publisher by circulation, has joined a handful of domestic and overseas regulators in claiming that Google’s (GOOG, GOOGL) online ad tech empire is an illegal monopoly. In a civil lawsuit filed in Manhattan federal district court on Tuesday, the publisher alleges that the […]
Russia’s “dragon teeth” tank traps, minefields and multi-layered fortifications are just one set of obstacles in Ukraine’s budding counteroffensive. Another formidable foe turns out to be airborne: the Russian Ka-52 “Alligator” attack helicopter. In one of the campaign’s early battles near Orikhiv, in Zaporizhzhia province, a Ukrainian infantry company drove […]
Peter Lynch never said to invest in the stock market. The legendary former Fidelity Magellan fund manager and author of the pioneering book on investing “One Up On Wall Street,” which will celebrate its 35th anniversary next year, drove home that point in a conversation with Yahoo Finance as we […]
Chinese online entertainment platform Bilibili was worth $54bn two years ago, as Wall Street investors rushed to bet on the rising tech giant. Today, the Nasdaq-listed group’s market capitalisation has fallen to about $6.5bn, a collapse that has brought forward debt repayments that threaten to sap its remaining cash, leading […]
This is The Takeaway from today’s Morning Brief, which you can sign up to receive in your inbox every morning along with: The Federal Reserve’s latest policy decision is set for release on Wednesday afternoon. And the day’s biggest story won’t be about what the Fed does but about what […]
Apple (AAPL) announced Wednesday that it’s increasing its commitment to racial equity and justice programs to more than $200 million. The company previously committed $100 million to the cause in 2021. Apple also announced that it is forming a partnership with The Obama Foundation’s My Brother’s Keeper Alliance. The effort […]
OTTAWA, June 14 (Reuters) – Canada is freezing ties with the China-led Asian Infrastructure Investment Bank (AIIB) while it probes allegations it is dominated by the Chinese Communist Party, Finance Minister Chrystia Freeland said on Wednesday. Freeland said she did not rule out any outcome of the investigation, a clear […]
In 1965, a middle-aged couple in Omaha, Nebraska, faced a common yet challenging predicament: how to effectively plan for retirement. Dorothy and Myer Kripke had diligently saved and received a modest inheritance, placing them well ahead of their peers in terms of retirement planning. By that year, their savings amounted […]