Author: usaeverydaylife

A TD bank stands in Brooklyn on June 04, 2024 in New York City. Spencer Platt | Getty ImagesTD Bank pleaded guilty Thursday in a criminal money laundering case and agreed to pay a whopping $3 billion in fines and other penalties to the Department of Justice and federal financial regulators for failing to monitor money laundering by drug cartels.As part of the deal, TD Bank, whose U.S. unit is the 10th-largest American bank by assets, is accepting limits on its growth, the Office of the Comptroller of the Currency announced Thursday. Attorney General Merrick Garland said a monitor will oversee…

Read More

Republican presidential nominee and former U.S. President Donald Trump gestures as he speaks during a campaign event at Riverfront Sports in Scranton, Pennsylvania, U.S. October 9, 2024. Brendan McDermid | ReutersDonald Trump on Thursday will support making interest on car loans fully tax deductible, the latest in a suite of tax-cut promises the Republican presidential nominee has made in the weeks before Election Day.Trump, in a speech to the Detroit Economic Club, will compare the plan to an existing tax deduction on mortgage interest, according to excerpts provided beforehand by the Trump campaign.The plan “will stimulate massive domestic auto production, and…

Read More

AMD launched a new artificial-intelligence chip on Thursday that is taking direct aim at Nvidia’s data center graphics processors, known as GPUs.The Instinct MI325X, as the chip is called, will start production before the end of 2024, AMD said Thursday during an event announcing the new product. If AMD’s AI chips are seen by developers and cloud giants as a close substitute for Nvidia’s products, it could put pricing pressure on Nvidia, which has enjoyed roughly 75% gross margins while its GPUs have been in high demand over the past year.Advanced generative AI such as OpenAI’s ChatGPT requires massive data…

Read More

Jack Nicholson was synonymous with the Showtime Los Angeles Lakers. He sat courtside at their games at the Great Western Forum. He participated in promotional photos. Occasionally, he invited them to parties at his house in Beverly Hills.One summer night, Nicholson tended bar.The Lakers had just defeated the Detroit Pistons in an exhausting Game 7 to win the 1988 NBA championship. The postgame party had spilled from the locker room to On The Rox, a private club on the Sunset Strip in Los Angeles.Lakers forward Mychal Thompson walked to the bar, surprised to see Nicholson, a few months removed from…

Read More

This report is from this week’s CNBC’s “Inside India” newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. Like what you see? You can subscribe here.The big storyThe investment world has quickly swapped its insignia over the past couple of weeks. But that’s justifiable when one’s allegiance is entirely geared toward investment returns.China appears to have become the preferred investment destination for market participants after Beijing unveiled its most aggressive monetary stimulus package since the coronavirus pandemic, coupled with support for its flailing property market.China’s CSI 300 index has gained about…

Read More

Federal Reserve Board Chairman Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., September 18, 2024. REUTERS/Tom BrennerTom Brenner | ReutersFalling interest rates are usually good news for banks, especially when the cuts aren’t a harbinger of recession.That’s because lower rates will slow the migration of money that’s happened over the past two years as customers shifted cash out of checking accounts and into higher-yielding options like CDs and money market funds.When the Federal Reserve cut its benchmark rate by half a percentage point last month,…

Read More

Nvidia remains at the forefront of artificial intelligence innovation, with new opportunities to gain market share, Morgan Stanley said. Analyst Joseph Moore reiterated his overweight rating on the chipmaker and said meetings with Nvidia’s CEO and other management reinforced the firm’s view that it is the top pick in semiconductors. Morgan Stanley hosted the company for a three-day nondeal road show this week. “We remain very bullish longer term, but would concede given the rally that shorter-term upside from here raises the bar on earnings somewhat,” Moore said in a Thursday note to clients. His $150 price target implies about…

Read More

Check out the companies making headlines in midday trading: First Solar — The solar stock slipped 8%, on pace for its worst day since July 15, after Jefferies cut its price target on the stock and said it expects First Solar’s third-quarter report to disappoint. Jefferies maintained its buy rating on the stock but said near-term challenges such as ongoing supply chain and labor shortages should continue into 2025. Solar systems maker Enphase Energy slid 4%. Toronto-Dominion Bank — Shares of the Canadian bank firm lost 3.8% after The Wall Street Journal reported, citing sources, that TD is expected to…

Read More

Omar Marques | Lightrocket | Getty ImagesShares of Trump Media shot up as much as 19% Thursday morning, keeping up the momentum of a rally that has recovered some of the Truth Social operator’s steep losses from a recent weekslong sell-off.DJT stock was trading around $24 per share shortly after the market open, more than double the $11.75 price it fetched in an intraday trading low, just over two weeks ago.Stock Chart IconStock chart iconTrump Media (DJT) Stock PriceThe surge came amid little positive news about the company, but coincided with some recent presidential election polls and other indicators that…

Read More

A woman uses an umbrella to protect herself from the sun as she passes past the Colosseum during an intensely hot day in Rome, Italy, on July 11, 2024. Riccardo De Luca | Anadolu | Getty ImagesSummer trips to Europe are getting too hot for thousands of tourists.Delta Air Lines president Glen Hauenstein said travelers are opting out of flying to Europe during the traditional summer peak travel season. Instead, they are shifting trips to cooler months, a trend that airline officials have been noticing over the past couple of years as consumers look to escape crowds and record heat of…

Read More