General Motors (GM) is strategically navigating challenges and aiming to restore investor confidence as it faces the aftermath of a tumultuous year marked by labor strikes and setbacks in its electric and autonomous vehicle plans. The Detroit automaker is proactively implementing several initiatives to strengthen its financial position and address concerns. One key move involves… Continue reading GM initiates $10 billion buyback, boosts dividend and reinstates 2023 guidance after UAW strikes

Billionaire Charlie Munger, the renowned investor and long-time associate of Warren Buffett, has passed away at the age of 99, according to a press release from Berkshire Hathaway. Munger, who would have turned 100 on New Year’s Day, played a pivotal role as Berkshire’s vice chairman and contributed significantly to the conglomerate’s success. Berkshire Hathaway… Continue reading Charlie Munger, investing genius and Warren Buffett’s right-hand man, dies at age 99

The political network largely funded by billionaire Charles Koch, Americans for Prosperity Action, has officially endorsed Nikki Haley for president, signaling a significant development in the quest for a Republican alternative to challenge former President Donald Trump. The endorsement is viewed as a strategic move to boost Haley’s primary campaign against Trump, the current Republican… Continue reading Billionaire-backed Koch network endorses Nikki Haley for president

Shein, the Chinese-founded fast-fashion giant, has confidentially filed for an initial public offering (IPO) in the United States, as reported by CNBC. With a last valuation standing at $66 billion, the company is eyeing an expansion of its global footprint. The anticipated IPO, potentially taking place in 2024, aims to capitalize on the brand’s popularity… Continue reading Shein files for U.S. IPO, as fast-fashion giant looks to resolve forced labor, climate concerns

U.S. Treasury yields remained stable as markets resumed activity after a shortened trading day on Friday, with investors awaiting economic data that could influence the Federal Reserve’s monetary policy. The 10-year Treasury yield was slightly over 1 basis point lower at 4.468%, while the 2-year Treasury yield dropped by 1 basis point to 4.946%. The… Continue reading Treasury yields little changed as investors assess state of economy

On Monday, the stock market saw minimal changes as Wall Street aimed to extend its positive streak into a fifth consecutive week. The S&P 500 fell marginally by 0.2%, the Nasdaq Composite dropped slightly over 0.1%, and the Dow Jones Industrial Average shed 66 points, equivalent to 0.2%. Despite warnings from certain U.S. retailers about… Continue reading S&P 500 is little changed Monday following 4 weeks of gains: Live updates

The Dow Jones Industrial Average experienced a rise on Friday, contributing to the major averages aiming for a four-week winning streak. The 30-stock Dow increased by 101 points, or 0.3%, while the S&P 500 remained near the flatline, and the Nasdaq Composite saw a 0.2% decline. Black Friday marked the beginning of the holiday shopping… Continue reading Dow closes 100 points higher Friday as major averages rise for a 4th straight week: Live updates

The National Football League (NFL) is set to break tradition by streaming its first-ever Black Friday game exclusively on Amazon’s Prime Video, expanding on the “Thursday Night Football” deal between Amazon and the NFL. This move away from traditional broadcast or cable channels reflects the ongoing challenges faced by linear TV, marked by declining ad… Continue reading NFL’s Black Friday game is the latest warning sign for traditional TV

In downtown Manhattan, Target’s recent pop-up event, “Wonderland,” aimed to attract families and shoppers during the holiday season. The event featured Santa’s helpers distributing free cookies, Nintendo’s Mario and Luigi posing for photos, a toy train winding through a miniature village made from Target’s gingerbread kits, and a display of popular toys like the Barbie… Continue reading With Black Friday deals and flashy displays, retailers try to convince reluctant shoppers to spend

Airlines are implementing strategies to enhance efficiency and reduce costs by saving valuable minutes in their operations. American Airlines, for instance, introduced Smart Gating technology at Dallas/Fort Worth International Airport, reducing taxi time by 20%, and is expanding the program to other airports. The changes have led to improvements in on-time arrivals and fuel savings… Continue reading How airlines are shaving minutes off flight times to save millions

Turkey’s central bank took a bold step on Thursday by unexpectedly raising its key interest rate, the benchmark one-week repo rate, by 500 basis points to reach a staggering 40%. This move, twice the 250-basis-point increase forecasted by economists, is viewed as a continuation of the bank’s efforts to combat high inflation and stabilize the… Continue reading Turkey’s central bank hikes interest rate by 500 basis points to 40%, well above expectations

As the holiday season approaches, approximately 25% of Americans are still grappling with holiday debt from the previous year, warns WalletHub’s November holiday shopping survey. The rising trend of accumulating debt during the festive season is exacerbated by the current economic climate, with higher interest rates making it more challenging for individuals to pay off… Continue reading 25% of Americans still have holiday debt from last year: ‘If you’re in a hole, stop digging,’ says money expert