People wait in line for T-shirts at a pop-up kiosk for the online brokerage Robinhood along Wall Street after the company went public with an initial public offering earlier in the day on July 29, 2021 in New York City.Spencer Platt | Getty ImagesRobinhood shares sold off on Monday as the online brokerage was snubbed in the latest quarterly rebalance of the S&P 500 Index after months of speculation that it could earn a coveted spot in the benchmark.Shares of Robinhood dropped nearly 5% in premarket trading. The stock has rallied 3.3% Friday to bring last week’s gain to over…
Author: usaeverydaylife
The Norges Bank, Norway’s central bank, in Oslo, Norway, on Tuesday, Oct. 17, 2023.Bloomberg | Bloomberg | Getty ImagesThe world’s largest sovereign wealth fund will this week tell the European Union that “better and simpler regulation” is key to the markets reforms it urgently needs.”European markets over time have fallen behind in terms of business dynamism and the provision of new investment opportunities to institutional investors,” Norges Bank Investment Management, the largest single-owned investor in EU capital markets, said in a letter addressed to the European Commission to be sent Tuesday.The letter comes as part of an EU consultation on…
Warner Bros. Discovery plans to split into two public companies by next year, the media giant announced Monday, the latest upheaval in the industry as consumers transition from cable to streaming.WBD will separate into a streaming and studios company, which will include its movie properties and streaming service HBO Max, and a global networks company, which will include CNN, TNT Sports and Discovery, among other businesses.CEO David Zaslav will lead the streaming and studios company. Current CFO Gunnar Wiedenfels will become CEO of the global networks business. Warner Bros. Discovery expects to complete the split by the middle of 2026.”By…
Nitat Termmee | Moment | Getty ImagesThe U.S. job market isn’t looking too hot for recent college graduates and other job seekers, according to economists and labor experts.”The job market is kind of trash right now,” said Mandi Woodruff-Santos, a career coach and personal finance expert.”I mean, it’s really difficult,” she added. “It’s really difficult for people who have many years of experience, so it’s going to be difficult for college kids.”‘Tough summer’ for job seekersThat may seem counterintuitive.The national unemployment rate in May was relatively low, at 4.2%. The layoff rate has also been historically low, suggesting employers are…
McDonald’s could soon start reflecting some of the broader pressures impacting the fast food sector, according to Morgan Stanley. The firm downgraded McDonald’s to equal weight from overweight on Monday and trimmed its price target to $324 per share from $329. Morgan Stanley’s new forecast implies about 5% upside from Friday’s close. “MCD is a top quality business but hasn’t been, and probably will not be, insulated from some structural pressures on fast food,” analyst Brian Harbour said. The analyst listed the impact of economic policy uncertainty on lower income consumers as well as shifts in health and wellness as…
Pavlo Gonchar | Lightrocket | Getty ImagesSunnova Energy said on Sunday it had filed for Chapter 11 bankruptcy protection in the United States, as the residential solar panel installer buckled under the pressure of mounting debt and weakening demand.Shares were down 36.4% at 14 cents in premarket trading.Sunnova filed for protection in the Bankruptcy Court for the Southern District of Texas after warning in March that it might not be able to continue as a going concern.The company listed its estimated assets and liabilities in the range of $10 billion to $50 billion and has a total debt of $10.67…
Jensen Huang, co-founder and CEO of Nvidia Corp., speaks during a news conference in Taipei on May 21, 2025.I-hwa Cheng | Afp | Getty ImagesLONDON — Nvidia CEO Jensen Huang poured praise on the U.K. on Monday, promising to boost investment in the country’s artificial intelligence sector with his multitrillion-dollar semiconductor company.”The U.K. is in a Goldilocks circumstance,” Huang said, speaking on a panel with British Prime Minister Keir Starmer and Investment Minister Poppy Gustafsson.”The U.K. is in a Goldilocks circumstance,” Huang said, speaking on a panel with British Prime Minister Keir Starmer and Investment Minister Poppy Gustafsson. “You can’t…
Nvidia CEO Jensen Huang says artificial intelligence is the “great equalizer” because it lets anyone program using everyday language.Speaking at London Tech Week on Monday, Huang said that, historically, computing was hard and not available to everyone. “We had to learn programming languages. We had to architect it. We had to design these computers that are very complicated,” he said on stage alongside U.K. Prime Minister Kier Starmer.”Now, all of a sudden … there’s a new programming language. This new programming language is called ‘human.'”Conversational AI models were thrown into the spotlight in 2022 when OpenAI’s ChatGPT exploded onto the…
The Walt Disney Company and Universal, two of the biggest names in theme parks, are both undertaking historic expansions to their experiences businesses.Universal Orlando Resort in May opened the gates to Epic Universe, its fourth theme park at its flagship resort. Epic cost an estimated $7 billion to build, according to numbers provided by the University of Central Florida. Brian Roberts, Chairman and CEO of Universal parent company Comcast, called it the “single-largest investment Comcast NBCUniversal has made in its theme park business”.”It’s so different than anything else that we’ve ever built, but certainly I think it’s different than anything…
The decision by U.K. fintech firm Wise to move its primary stock listing to the U.S. is the latest in a series of blows to the London market — and a new provision tucked inside a U.S. tax bill could make things even worse. Section 899 of President Donald Trump’s spending bill, which passed the House of Representatives in May, threatens to penalize foreign-owned firms domiciled in countries with “unfair foreign taxes,” and experts say it could accelerate the trend for European companies to hop the pond. The provision introduces retaliatory tax measures against corporations and other entities from countries…
