Executives, experts, and influencers join the Yahoo Finance team to discuss what's moving the world of finance.
WASHINGTON — Transportation Secretary Pete Buttigieg has warned airlines that his department could draft new rules around passenger rights if the carriers don’t give more help to travelers trapped by flight cancellations and delays. Buttigieg is asking airline CEOs to, at a minimum, provide lodging for passengers stranded overnight at an airport and give out meal vouchers for delays of three hours or longer when the disruption is caused by something in the airline’s control. The Transportation D
(Reuters) -Deere & Co, the world's largest farm equipment maker, on Friday lowered its full-year profit outlook and said it has sold out of large tractors as it continues to grapple with parts shortages and high costs. Deere has struggled to make enough tractors to meet strong demand from farmers and is paying premiums in freight to assembly machines depending on where it has parts available, executives at the company said. Total costs and expenses rose 24.4% year over year, resulting in quarterly earnings missing expectations despite strong sales.
(Reuters) -Kohl's Corp cut its full-year sales and profit forecasts on Thursday, squeezed by steeper discounts and higher costs amid dwindling demand for clothing and shoes in the face of high inflation, sending its shares down 5%. The U.S. department store chain joined top retailers including Target Corp and Best Buy Co to warn of a profit squeeze, as decades-high inflation has made Americans wary of opening their wallets for apparel and other discretionary goods. The demand slump has left several retailers with bloated inventories, forcing them to offload excess stocks through steep discounts and clearance sales heading into the back-to-school season.
(Reuters) -A U.S. energy regulator on Friday gave Berkshire Hathaway Inc, the company controlled by billionaire Warren Buffett, permission to buy up to 50% of oil company Occidental Petroleum Corp's common stock. Occidental's share price soared 9.9%, closing up $6.41 at $71.29, after the Federal Energy Regulatory Commission (FERC) said letting Berkshire add to its 20.2% stake was "consistent with the public interest." Berkshire had applied to increase its stake on July 11, saying it would not hurt competition, undermine regulatory authority, or boost costs for consumers.
From $300 bucket hats to $900 sneakers and $700 t-shirts, the high-flying luxury sector is fretting over the appetite among financially stretched Gen Z consumers for such "aspirational" purchases. Executives are troubled in particular by a hit to young Chinese shoppers, not only because mainland China has been a major driver of the industry's growth in recent years, but also because high end consumers in the world's second-largest economy are a decade younger than the global average of 38. Young adults around the world have been "a very strong factor of luxury growth over the past decade," said Gregory Boutte, chief client and digital officer at Gucci-owner Kering.
Harris Associates last week disclosed a stake of more than 10% in Switzerland's second-largest bank, after previously holding 5.2%. If Credit Suisse is unable to find ways for the investment bank business to earn sustainable returns in the next year or two, it would have to explore other options including a sale, spin-off or a merger, said David Herro, the chief investment officer of Harris Associates, in an interview to Bloomberg TV.
LONDON (AP) — Thousands of train workers in Britain staged a new round of strikes Thursday, paralyzing rail service across the country in an escalating dispute over pay and working conditions exacerbated by a deepening cost-of-living crisis. Only around one in five trains ran across the U.K. as a result of the walkout by union members, who have already staged multiple strikes in recent months. A strike planned for Friday is expected to affect most of the London Underground subway network as well
SANTIAGO (Reuters) -Chile's gross domestic product came in below expectations in the second quarter of 2022, central bank data showed on Thursday, leading economists to forecast a potential recession as pandemic-related stimulus is unwound. The performance highlighted Chile's struggle to grow as the central bank aggressively tightens its monetary policy to tame soaring inflation, which reached a near three-decade high last month. "Chile's economy merely stagnated in Q2 and the chances are high that it will fall into recession over the second half of the year," Capital Economics' Latin America economist Kimberley Sperrfechter said in a note.
Canadian cleantech company, CleanAir.ai, is pleased to announce that it has won the global CapitaLand Sustainability X Challenge (CSXC) 2022 "High Impact Award" for its novel ALVI CleanAir Safety System®.
In comments to a Kansas City economic group, George said the pace and ultimate level of future rate hikes remained a matter of debate. "To know where that stopping point is ... we are going to have to be completely convinced that (inflation) number is coming down," she said. George did not state a preference for whether the Fed should approve a third straight 75 basis point rate increase when policymakers meet next month, or a smaller half point increase - the two core options under consideration.
Unifor's Bell Clerical and Associated Employees Bargaining Committee ratified a four-year deal with Bell Canada on Thurs., Aug. 18, 2022.
U.S. stocks fell on Friday in a broad selloff led by megacaps as U.S. bond yields rose, with the S&P 500 posting losses for the week after four straight weeks of gains. Amazon.com, Apple and Microsoft all fell and were the biggest drags on the S&P 500 and Nasdaq. U.S. Treasury yields rose, with the benchmark 10-year note nearly hitting 3%, after Germany reported record-high increases in monthly producer prices.
Here’s one of the best TSX energy stocks investors can buy now and hold forever. The post 1 Top TSX Energy Stock to Buy and Hold Forever appeared first on The Motley Fool Canada.
Creating a healthy passive income requires both a hefty amount of capital and high-yield stocks. Sustainability is also an essential factor to consider. The post TFSA Investors: 3 Stocks to Buy for $473/Month Tax-Free Passive Income appeared first on The Motley Fool Canada.
The rise in original content creation and the proliferation of digital platforms accelerated the global subscription video on demand (SVOD) services market growth. Frost & Sullivan's recent analysis, Global SVOD Services Market, finds that the general growth of digital media consumption has encouraged companies from the sports, film, and television industries to create their own platforms, providing people with more streaming choices and SVOD services. The SVOD market is expected to reach $151.4
Instagram and Facebook suspended Children's Health Defense this week after the anti-vaccine group led by Robert Kennedy Jr. repeatedly violated rules prohibiting misinformation about COVID-19. A nonprofit, Children's Health Defense is one of the most influential anti-vaccine organizations active on social media, where it has spread misleading claims about vaccines and other public health measures designed to control the pandemic. In a statement, Kennedy compared Facebook's actions to government
NEW YORK (Reuters) -Oil prices steadied on Friday, but fell for the week on a stronger U.S. dollar and fears that an economic slowdown would weaken crude demand. However, the number of U.S. oil rigs, an early indicator of future supply, was unchanged at 601 this week, according to Baker Hughes Co, as energy companies slowly increase production to pre-pandemic levels with shale oil output in September expected to hit its highest since March 2020.
Enbridge (TSX:ENB)(NYSE:ENB) stock is a dividend behemoth that may be a top pick for new passive-income investors. The post Market Slump Got You Down? Buy This 1 Dividend Behemoth appeared first on The Motley Fool Canada.
HONG KONG (AP) — Hong Kong officials said Thursday they are seeking the return of citizens who traveled to Southeast Asia for jobs that entrapped them in scams and virtual slavery. The victims, who also came from Taiwan and mainland China, took jobs in call centers that sought to cheat Chinese speakers into making payments on fabricated bills and government fees. Michael Cheuk, undersecretary of Hong Kong’s Security Bureau, said the police and immigration department had received requests for hel
BEIJING (Reuters) -China's cyberspace watchdog wants to build an "affectionate" relationship between internet enterprises and the government, a senior official said, the latest verbal assurance to an industry still on edge after a long and bruising regulatory crackdown. Niu Yibing, vice minister of the Cyberspace Administration of China (CAC), told a news conference on Friday the agency was supportive of the sector's healthy development and wanted to create a "healthy, get-to-the-top, can-do entrepreneurial atmosphere". The CAC was among Chinese regulators which in late 2020 launched an unprecedented crackdown on the country's technology giants.
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