Articles

Elon Musk: ‘Taylor Swift is right to be concerned’ about private jet tracking

Swift recently sent a cease-and-desist letter to a college student known for using publicly available aviation data to track private jets

Arm stock soars 25% as chip maker see ‘signs of recovery’ in broader market, raises guidance for the year

U.S.-listed shares of Arm Holdings PLC rallied more than 20% after hours Wednesday after the chip designer raised guidance for the year, saying it is seeing green shoots in the semiconductor market.

PayPal’s earnings outlook disappoints as CEO says he’s looking to rebuild trust

PayPal’s CEO says he wants to “put points on the board” before factoring new products into forecasts.

Disney’s stock pops on big earnings beat, dividend, lower streaming losses

Walt Disney Co.’s stock popped 7.7% higher late Wednesday on stronger-than-expected quarterly earnings, deeper cuts, and a massive reduction in its streaming business losses.

Mattel announces cost cuts after fourth-quarter results miss expectations

The toy maker’s cost cuts would follow layoffs by rival Hasbro amid a slowdown in demand for toys

Billionaire Bill Ackman to launch fund open to regular investors in U.S.

Bill Ackman’s Pershing Square is planning to launch a new closed-end fund targeting individual investors.

Consumers slammed on brakes on borrowing in December, Fed data shows

The numbers: Total consumer credit rose $1.5 billion in December, down from a $23.4 billion gain in the prior month, the Federal Reserve said Wednesday. That translates into a 0.4% annual rate, down from a 5.7% rise in the prior month.

New York Community Bancorp led increase in loan-loss reserves by big regional banks as lenders brace for potential downturn

While the reserve boost disclosed as part of its fourth-quarter update last week isn’t considered a major factor for the stock’s slide, it’s part of a move by most large regional banks to be prepared for a potential downturn.

Retirement help may be coming for small-business employees and gig workers

A proposed bill in Congress would require employers with more than 10 workers to enroll their employees in IRAs.

U.S. budget deficit expected to shrink in 2024 before resuming its rise

The 2024 U.S. budget deficit is projected to come in slightly smaller than last year’s, but longer term, the deficit will continue to rise, reaching $2.6 trillion in 2034.

Why Snoop Dogg and Master P say Walmart and Post ‘sabotaged the success of Snoop Cereal’ in new lawsuit

Rappers Snoop Dogg and Master P have accused Walmart Inc. and cereal giant Post Consumer Brands of using “diabolical actions” to drive their upstart brand, Snoop Cereal, out of business.

Stock-market investors fear a megacap meltdown. Here’s what history says.

Investors spent 2023 fretting about the sustainability of a stock-market rally largely driven by a handful of megacap tech stocks. Those worries remain in place as the S&P 500 has returned to record territory in the new year.
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