By Luc Cohen NEW YORK (Reuters) -Prosecutors who secured Donald Trump’s conviction over a hush money payment to a porn star opposed on Tuesday his stated hope to have the case dismissed now that he is president-elect and asked a judge to set a schedule to litigate the matter. Trump, 78, had been scheduled to […]
Paul-Tyson fetches non-Vegas record $18.1M revenue; sets streaming record
Jake Paul and Mike Tyson punched up a record-breaking gate at AT&T Stadium on Saturday with 72,300 fans in attendance leading to $18,117,072 in total revenue, a record for boxing and mixed martial events held outside of Las Vegas. Meanwhile, Netflix saw the fight peak at 65 million concurrent streams, making it the most-streamed global […]
India restricts WhatsApp sharing data with other Meta entities, imposes $25.4 million fine
(Reuters) -India’s competition watchdog directed WhatsApp to refrain from sharing user data for advertising purposes with other applications owned by Meta for a period of five years and fined the U.S. tech giant $25.4 million on Monday over antitrust violations related to the messaging application’s 2021 privacy policy. The Competition Commission of India (CCI) launched […]
Morgan Stanley raises base case 2025 yr-end S&P 500 target to 6,500
NEW YORK (Reuters) – Morgan Stanley has increased its 12-month base case price target on the S&P 500 to 6,500, the firm’s equity strategist Michael Wilson and other strategists wrote in a note on Monday. The benchmark index was last at 5,893. According to the note, the firm expects the recent broadening in U.S. earnings […]
Walmart stock set for best year since 1999 as profits jump
By Juveria Tabassum (Reuters) – Walmart shares are set for their best yearly gains in over two decades as the retail behemoth’s low prices for everyday essentials give it an edge over competitors facing weak demand from budget-conscious consumers. The stock has gained about 60% so far this year, outstripping gains of about 13% in […]
Nippon Steel not to import from overseas mills in bid to save U.S. Steel deal
(Reuters) – Nippon Steel will not import steel to the U.S. from its international mills, the Japanese company’s Executive Vice President Takahiro Mori said on Monday in a letter to United Steelworkers union members. Nippon is looking to close its $14.9 billion deal for U.S. Steel by the end of the year before President-elect Donald […]
Uranium prices jump after Russia restricts exports to US
By Seher Dareen (Reuters) -Uranium prices gained on Friday after Russia imposed temporary restrictions on the export of enriched uranium to the United States. The move by Russia, the world’s largest supplier of enriched uranium, was a symbolic tit-for-tat move after the U.S. banned Russian uranium imports, adding that companies authorized by the export control […]
EV companies, battery makers urge Trump not to kill vehicle tax credits
WASHINGTON (Reuters) – A group representing major electric vehicle and battery manufacturers on Friday urged President-elect Donald Trump not to kill tax credits for electric vehicle sales and production, citing the impact on key states that voted for the Republican. The Zero Emission Transportation Association, whose members include Rivian LG, Tesla, Uber, Lucid and Panasonic, […]
Fed’s Goolsbee sees another 125 bps of rate cuts by end-2025
(Reuters) – Federal Reserve Bank of Chicago President Austan Goolsbee on Friday signaled he feels the U.S. central bank will likely end up cutting the policy rate by another quarter of a percentage point this year and a full percentage point further next year, as Fed policymakers projected in September . “I think we are […]
Elon Musk efficiency panel seeks ‘high IQ’ staff, plans livestreams
WASHINGTON (Reuters) – Elon Musk’s government efficiency panel wants “high IQ” employees and plans weekly livestreams, according to X posts about President-elect Donald Trump’s initiative to streamline the U.S. bureaucracy. Trump named Musk, the billionaire CEO of Tesla, and former Republican presidential candidate Vivek Ramaswamy to lead the panel on Tuesday. Their mission is to […]