Global online shopping platform Temu.Bloomberg | Bloomberg | Getty ImagesTwo U.S. Consumer Product Safety Commission members are urging the agency to probe safety practices of “foreign-owned” e-commerce platforms like Shein and Temu, specifically the alleged sale of “deadly baby and toddler products.”In a letter late Tuesday, CPSC Commissioners Peter Feldman and Douglas Dziak said the agency should examine Temu and Shein’s safety and compliance controls, relationships with third-party sellers and consumers, and “any representations they make when products are imported.””We seek to better understand these firms, particularly their focus on low-value direct-to-consumer — sometimes called de minimis — shipments and…
Author: usaeverydaylife
ATLANTA — Whit Merrifield has had enough of control-challenged pitchers hitting batters with pitches.The veteran infielder became the latest in a string of Atlanta Braves players hit by fastballs when he was plunked in the back of his head Tuesday by Colorado Rockies rookie Jeff Criswell, and Merrifield said Major League Baseball needs to do something about the situation before someone is seriously injured — or worse.“Where the game’s at right now, it’s just ridiculous,” said Merrifield, who was hit by a 94.5 mph pitch in the seventh inning of the Braves’ 3-0 win, leaving a welt just behind his…
Microsoft’s generative artificial intelligence prospects are impressive. But the stock has more to offer investors than just the new tech. Jim Cramer said Microsoft shares could bottom Wednesday — and out of all the megacap tech stocks, this Club name is the one to buy. Microsoft closed at a record high of $467 on July 5. But then, almost immediately, it began to slide. It got no help from its July 30 earnings report and made a recent bottom in the Aug. 5 market plunge. The stock’s subsequent recovery stalled out late last month and turned lower once again. Exacerbated…
Shares of AST SpaceMobile could soar into the stratosphere, according to Deutsche Bank. The bank reiterated its buy rating on shares of the satellite manufacturer. Simultaneously, analyst Bryan Kraft hiked his price target to $63 from $22. Shares of AST have already popped a whopping 404% this year. Kraft’s updated forecast is approximately 114% higher than the stock’s Tuesday closing price of $29.41. As a major catalyst, Kraft pointed to AST’s timeline for its service availability and satellite launches, the first of which is forecast for September. Deutsche Bank anticipates another four commercial satellites to launch in 2024, followed by…
Nvidia’s headquarters in Silicon Valley.Andrej Sokolow | Picture Alliance | Getty ImagesNvidia on Wednesday denied reports it received a subpoena from the Department of Justice over antitrust concerns. “We have inquired with the U.S. Department of Justice and have not been subpoenaed,” an Nvidia representative told CNBC. “Nonetheless, we are happy to answer any questions regulators may have about our business.”Bloomberg reported Tuesday that Nvidia had received a subpoena, causing the stock to slip in after-hours trading. The chipmaker’s shares had already given up nearly 10% during regular trading on Tuesday.While the report did not specify why regulators have been…
Anna Barclay | Getty ImagesTrump Media shares on Wednesday closed below where they stood at the end of 2023, as the Truth Social maker’s stock continued to slide ahead of the date when majority-owner Donald Trump can begin selling his stake.The DJT slump, which followed a brief surge in mid-July spurred by the former president surviving an assassination attempt, has shaved billions of dollars off the company’s market capitalization.Trump Media ended the trading day at $16.98 per share, a 6% decline on the day.The stock has fallen more than 75% from its intraday peak of $79.38 per share, which it…
It was about as close as an FA Cup-winning manager has come to a mic drop.In a room of journalists who had spent the previous few days reporting on his bosses’ plan to replace him, a bruised, embattled but belligerent Erik ten Hag defended his record as manager of Manchester United.“Two trophies in two years is not bad,” he said. “Three finals in two years is not bad. If they don’t want me, then I go somewhere else to win trophies because that is what I do.”It was a good line, worth repeating, which he did. After Ten Hag’s contract…
Headwinds have been emerging in the consumer space, which may have some investors wondering about the impact on asset-backed securities. The securitized products, known as ABS, are backed by a pool of income-generating assets such as auto loans or credit card receivables. Investors have been turning to them for their attractive yields. The ICE BofA U.S. Fixed Rate Asset Backed Securities Index, which tracks the performance of U.S. investment grade asset-backed securities, currently has an effective yield of 5.12%, per FactSet. Consumers are still spending money, with retail sales in July increasing 1% from the previous month, according to Commerce…
Law enforcement and first responders assess the situation at Apalachee High School in Winder, Georgia, on September 4, 2024, after a shooting was reported. Christian Monterrosa | AFP | Getty ImagesAt least four people were killed and nine others were wounded in a school shooting an hour outside of Atlanta on Wednesday, according to the Georgia Bureau of Investigation.One suspect was alive and taken into custody following the gunfire at Apalachee High School, officials said.Barrow County Sheriff Jud Smith confirmed there were “multiple injuries” at a news conference. He declined to provide more information, saying it would take “multiple days” to determine what happened.”Every…
Mustafa Suleyman, co-founder and chief executive officer of Inflection AI UK Ltd., speaks at the World Economic Forum in Davos, Switzerland, on Jan. 18, 2024.Stefan Wermuth | Bloomberg | Getty ImagesLONDON — Microsoft’s hiring of employees from Inflection AI, the artificial intelligence startup started by DeepMind co-founder Mustafa Suleyman, has been cleared by the U.K.’s competition regulator and will not face an in-depth competition investigation in the country.The Competition and Markets Authority said in a statement Wednesday that the U.S. tech giant’s deal to acquire “certain assets” from Inflection does count as a “relevant merger situation” in Britain, but that…
