The article highlights Ukraine’s military intelligence agency’s accusation against Russian forces for utilizing Starlink terminals from Elon Musk’s SpaceX in occupied territories. Despite Starlink’s assertion that its satellite networks were never intended for use in Russia and were delivered to Ukraine post the invasion to support Ukrainian forces’ communications, Kyiv’s Main Directorate of Intelligence (GUR)… Continue reading Musk denies selling Starlink terminals to Russia after Kyiv alleges their use in occupied areas

The latest revisions to the consumer price index, released by the Labor Department’s Bureau of Labor Statistics, revealed that prices consumers pay in the marketplace rose at a slower pace than initially reported. The broad basket of goods and services measured increased by 0.2% on the month, down from the originally reported 0.3%. While this… Continue reading Inflation in December was even lower than first reported, the government says

The stock market experienced a notable rise as December’s inflation data was revised downwards, fueling optimism among investors. The S&P 500 surged above the historic 5,000 level propelled by a robust earnings season and positive economic indicators, marking its fifth consecutive week of gains. While the Dow Jones Industrial Average slipped slightly, the S&P 500… Continue reading S&P 500 rises above 5,000, gains for a fifth week on encouraging inflation news:

The article discusses the recent challenges faced by New York Community Bank (NYCB) and its efforts to reassure investors amidst a crisis of confidence. NYCB disclosed financial metrics, including stable deposits of $83 billion and the promotion of chairman Alessandro DiNello to a more active management role. These actions led to a temporary 6% rise… Continue reading NYCB woes reignite fears about shaky banks as anniversary of March crisis nears

The Walt Disney Company announced its fiscal first-quarter earnings, surpassing expectations as it focused on cost reduction amidst stagnant revenue. With an increased guidance, Disney anticipates earnings per share for fiscal 2024 to rise by at least 20% compared to 2023, aiming to cut costs by $7.5 billion by fiscal year-end. The reported earnings per… Continue reading Disney beats earnings estimates, hikes guidance as it slashes streaming losses

Minneapolis Federal Reserve President Neel Kashkari expressed his expectation for the central bank to enact only a few rate cuts this year, a stance divergent from market projections. During a CNBC “Squawk Box” interview, Kashkari suggested that his inclination leans towards two or three rate cuts based on current data. This contradicts the market’s anticipation… Continue reading Fed’s Neel Kashkari expects only two or three interest rate cuts this year

New York Community Bank (NYCB) faced a turbulent period as Moody’s Investors Service downgraded its credit ratings two notches to junk status, prompting a sharp decline in shares, which fell by as much as 13% on Wednesday following a 20% drop the previous day. In response to the mounting challenges, NYCB promoted Alessandro DiNello from… Continue reading NYCB shares fall as much as 13% after Moody’s cuts bank’s credit rating to junk

Toyota Motor announced a significant investment of $1.3 billion in a Kentucky plant to manufacture a new all-electric, three-row SUV tailored for the U.S. market, a move indicative of the company’s commitment to electric vehicles (EVs). The vehicle is slated to enter production between late 2025 and early 2026 as part of Toyota’s broader strategy… Continue reading Toyota investing $1.3 billion in Kentucky to build all-electric, three-row SUV

The New York Federal Reserve’s report highlighted a significant surge in credit card delinquencies by over 50% in 2023, amidst a backdrop of consumer debt reaching a staggering $17.5 trillion. Particularly striking was the escalation of credit card debt transitioning into “serious delinquency,” defined as 90 days or more past due, which soared to 6.4%… Continue reading Credit card delinquencies surged in 2023, indicating ‘financial stress,’ New York Fed says

The U.S. stock market is deemed to be in a precarious position, with persistently strong jobs numbers and wage growth challenging the anticipated impact of Federal Reserve interest rate hikes, warns Cole Smead, CEO of Smead Capital Management. The latest data revealed nonfarm payrolls growing by 353,000 in January, surpassing estimates, and average hourly earnings… Continue reading Stock market in a ‘very dangerous’ position as jobs and wages run hot, fund manager says

McDonald’s reported mixed quarterly results affected by turmoil in the Middle East, causing its shares to fall over 2% in early trading. In comparison with Wall Street expectations, the company posted adjusted earnings per share of $2.95, exceeding the anticipated $2.82, while revenue fell slightly short at $6.41 billion against an expected $6.45 billion. The… Continue reading McDonald’s revenue misses estimates as Middle East conflict weighs on quarterly sales

In January, Ford Motor reported a 4.3% increase in sales compared to the same month in 2023, with a notable surge in hybrid vehicle sales offsetting an 11% decline in all-electric cars and trucks. The Detroit automaker sold 152,617 vehicles during the month, with hybrid sales witnessing a remarkable 43% jump and traditional vehicles with… Continue reading Ford’s hybrid vehicle sales surge to offset EV decline in January