Port of New York/New Jersey executives tell CNBC they have begun preparations for a potential complete work stoppage by the International Longshoreman’s Association, the largest union in North America. The ILA represents over 85,000 longshoremen and a strike would shut down five of the 10 busiest ports in North America, and a total of 36 ports along the East and Gulf Coasts, on October 1. Between 43%-49% of all U.S. imports and billions of dollars in trade monthly are at stake as the union moves closer to the Oct. 1 deadline for a new contract. Cruise operations would continue.Talks with…
Author: usaeverydaylife
Once an obscure name, Talen Energy Corporation has taken Wall Street by surprise to become one of the hottest stocks in the utility space this year, as its shares have more than doubled in value. Talen’s surge comes on the back of its deal to sell a data center campus to Amazon Web Services and supply the facility with nuclear power from the Susquehanna station northwest of Allentown, Pennsylvania. The deal is viewed as a trailblazing agreement for the power industry, and Wall Street has taken notice. A year ago, Talen was not covered by any Wall Street analysts, according…
The WNBA has enjoyed some of the fastest growth a sports league has ever seen, thanks in large part to superstar rookies Caitlin Clark and Angel Reese. With their play and fan following this year, they’ve helped the already surging league break records for attendance, viewership, merchandise sales and more.But top WNBA players don’t yet have the lofty salaries to match.The three most valuable WNBA teams — the Las Vegas Aces, the Seattle Storm and the New York Liberty — were valued in June at between 13 and 70 times the price of their most recent sale, all of which took place…
Combinations showing Entrepreneur Elon Musk (L) and Brazil Supreme Court Justice Alexandre de Moraes (R)Reuters (L) | Getty Images (R)Elon Musk’s X faces steep daily fines in Brazil for allegedly evading a ban on the service there, according to a statement from the country’s supreme court on Thursday.The fines, imposed by Brazil’s supreme court (Supremo Tribuno Federal or STF) amount to $5 million in Brazilian reals, about $920,000, a day. The court said it would continue to impose “joint liability” on Starlink, the satellite internet service owned and operated by SpaceX, Musk’s aerospace venture.The suspension of X in Brazil was initially ordered…
Sean McDermott was chatting with caddie Ted Scott over the summer about strategy and sports psychology when Scott mentioned how his boss, PGA star Scottie Scheffler, has adopted the mindset of just trying to hit singles around the course. “Scottie Singles” has now won a pair of majors, including this year’s Masters, and has been ranked the No. 1 player in the world for more than two years.The strategy resonated so much with the Buffalo Bills head coach that he relayed the story to his star quarterback, Josh Allen, who is an avid golfer. Allen immediately saw the connection.Allen, like…
Federal Reserve Chair Jerome Powell has unveiled his latest buzzword to describe monetary policy, with a “recalibration” of policy at a pivotal moment for the central bank.At his news conference following Wednesday’s open market committee meeting, Powell used variations of the word no fewer than eight times as he sought to explain why the Fed took the unusual step of a half percentage point rate cut absent an obvious economic weakening.”This recalibration of our policy stance will help maintain the strength of the economy and the labor market, and will continue to enable further progress on inflation as we begin…
I often refer back to the work of financial pioneer and “Father of Technical Analysis” Charles Dow, whose work in the early 20th century shaped how generations of investors have tried to make sense of market movements. The foundation of Dow’s work was based on the analysis of price trends, comparing swing highs and swing lows to define and track the trends over time. An initial look at the chart of Microsoft (MSFT) may suggest a consistent uptrend of higher highs and higher lows. And while this short-term uptrend is a valid observation, this also means Microsoft may be forming…
U.S. Treasury yields climbed higher Thursday as investors digested the Federal Reserve’s decision to cut interest rates by 50 basis points on Wednesday.At 1:24 p.m. ET, the yield on the 10-year Treasury was up more than 5 basis points at 3.743%. The 2-year Treasury yield was marginally higher at 3.606%.Yields and prices have an inverted relationship. One basis point equals 0.01%.The Federal Reserve on Wednesday delivered a 50 basis point interest rate reduction, bringing the federal funds rate to 4.75% to 5.00%. The size of the cut was in line with market expectations, which had shifted from expecting a 25…
[The stream is slated to start at 1:15 p.m. ET. Please refresh the page if you do not see a player above at that time.]President Joe Biden is speaking at the Economic Club of Washington, D.C., on Thursday, where he is expected to celebrate falling inflation and interest rates.The president’s remarks come the day after the Federal Reserve announced its decision to cut interest rates by a surprisingly aggressive 50 basis points.”The declines in inflation and interest rates are welcome, but no one’s declaring victory,” National Economic Council Director Lael Brainard told reporters ahead of Biden’s remarks. Source link
If there is one constant in the circle of life that is big business, it’s that cost increases will always be passed on to consumers. Doesn’t matter if it’s food, gas or tickets to sporting events. The paying customer will almost certainly be asked to make up the difference.The latest example came Tuesday, when the University of Tennessee announced an average increase of 14.5 percent for football tickets in 2025, with 10 percent earmarked for athlete compensation. The news should not have come as a surprise to anyone. It was as inevitable as a sunrise.Once the courts cleared the way…