Global stock markets largely surged Monday following a trade deal between the EU and the US, averting higher tariffs. Asian markets showed mixed results, with Tokyo's Nikkei falling due to uncertainty surrounding a Japan-US trade truce. The EU-US agreement, announced after a meeting between Trump and von der...
CK Hutchison Holdings, a Hong Kong conglomerate, is seeking a Chinese investor to join a consortium buying its Panama Canal port assets. The initial deal with a consortium including BlackRock faced opposition from Beijing, leading to a review by Chinese anti-monopoly authorities and negative media commentary. Hutchison says...
A recent US-Japan trade deal lowered auto import tariffs to 15%, offering some relief to Japanese automakers. However, this is tempered by the significant ongoing challenge posed by China's rapidly growing automotive industry. Experts warn that while the tariff reduction avoids punitive levels, the 15% remains substantial and...
Citi has added American Airlines as a ThankYou Rewards transfer partner, allowing cardholders of three Citi cards (Citi Strata Elite, Citi Strata Premier, and Citi Prestige) to transfer points to AAdvantage miles at a 1:1 ratio. This makes Citi the only major issuer with direct transfers to American. ...
US equity futures surged on Sunday evening, fueled by positive trade developments with the EU and strong corporate earnings. Major tech companies, including Meta and Microsoft, are set to report this week, alongside a key Federal Reserve meeting. Inflation data and the July jobs report are also anticipated,...
Boeing, under CEO Kelly Ortberg, is showing signs of recovery after years of setbacks. Stock prices are up over 30% this year, and analysts predict a return to profitability in 2025. Ortberg's leadership has focused on cost-cutting, a capital raise, and improved production, leading to increased aircraft deliveries....
Apple will permanently close its Partridge Creek store in Clinton Township, Michigan, on August 16th at 8 p.m. All employees will be offered positions elsewhere within the company. This closure coincides with the upcoming opening of a new Apple store in Downtown Detroit later this year. The nearest...
Retail investors fueled a meme-stock rally this week, pouring money into heavily shorted, struggling companies like Opendoor and Kohl's. A "conservative" investor wagered $20,000 on Opendoor, while a student invested $2,000 in Kohl's options. This surge in activity, even with record S&P 500 highs, highlights the influence of...
Tesla confirms its more affordable model, potentially a simplified Model Y, will launch in Q4 2025, starting around $36,000. Production was delayed due to prioritizing current model sales with US tax credits and factory retooling. The car will likely feature cost-cutting measures like textile seats and fewer amenities....
Delta Air Lines, despite strong second-quarter earnings, faces overcrowding issues in its Sky Clubs. The surge in demand, fueled by 'revenge travel' and increased premium credit card access, has led to long lines and customer dissatisfaction. This mirrors a broader societal trend of 'elite overproduction', where the number...
