Losing your livelihood is now doubleplusgood! Bernard Arnault, CEO of LVMH and the worlds fifth richest man, has coined a new phrase for those who are being laid off being promoted outwards, so to speak. Arnault came up with the eye-roll-worthy corporate jargon Tuesday during an investor call for LVMH, the parent company of Louis
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Jeffrey Gundlach speaking at the 2019 SOHN Conference in New York on May 6, 2019. Adam Jeffery | CNBC DoubleLine Capital CEO Jeffrey Gundlach said Wednesday he expects only one rate cut for 2025 — two reductions at most — as the Federal Reserve patiently awaits incoming data to assess the state of the labor market and
<img src=”https://public.flourish.studio/visualisation/21374434/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were steady to slightly weaker in spots, while U.S. Treasury yields rose a little and equities ended down after the Federal Open Market Committee, as expected, held rates steady. “Both the FOMC’s December Summary of Economic Projections and current rate futures suggest 50 basis points of additional cuts
PREPA’s Costa Sur power plant. After many months of pessimism, the PREPA mediation team expressed a glimmer of optimism Tuesday. Mediators in the Puerto Rico Electric Power Authority bankruptcy said they were “hopeful” for “progress” in negotiating a deal, they said Tuesday in in a filing to U.S. District Court Judge Laura Taylor Swain. Despite
The Federal Reserve announced Wednesday it will leave interest rates unchanged as inflation continues to run above the Fed’s 2% mandate. The move comes after the central bank cut its benchmark interest rate by a full percentage point last year and in the wake of President Donald Trump‘s comment during his first week back in office that he’ll
Texas State Sen. Brandon Creighton said Senate Bill 2 would provide nearly 100,000 students with education savings accounts, which would result in the largest “school choice” program launch in the nation. Texas Senate Texas lawmakers on Tuesday kicked off their latest quest for school vouchers with the passage of a universal program by a Senate
In this article A Follow your favorite stocksCREATE FREE ACCOUNT Chubb CEO Evan Greenberg Scott Mlyn | CNBC California is a tough market for insurers — and growing more so, according to Chubb CEO Evan Greenberg. The executive has long proclaimed that Chubb won’t write insurance where it can’t get a reasonable return for taking
Bank of Canada governor Tiff Macklem said the central bank’s projections showed US tariffs would probably put Canada into a recession. BoC modelling, based on a scenario in which the US imposes permanent 25 per cent tariffs on every one of its trading partners and those nations respond in kind, shows a likely 2 per
“The outlook revision reflects our view of the heightened potential for future costs, liabilities, and potential litigation that these utilities face in light of the recent Los Angeles County wildfires,” S&P GloBloomberg News Two power utilities in Los Angeles County received negative rating outlooks as the fallout from the region’s January wildfires continues. S&P Global
Marcelo Vieira, MSRB’s senior director, research and market transparency. Municipal Securities Rulemaking Board Chair Warren “Bo” Daniels urged issuers to provide feedback as the MSRB conducts beta testing for the newly redesigned Electronic Municipal Market Access (EMMA) website that it plans to launch by the end of this year. Issuers “are super important to us,”
A judge imposed a temporary stay on the Trump administration’s directive to pause all federal funding just minutes before the pause was set to take effect. A federal judge in the District of Columbia Tuesday blocked for a few days the Trump administration’s order late Monday to freeze the disbursement of federal funds that stunned
Ramirez promoted Patty McGrorry to head of underwriting and Lorry Palacios to co-head of public finance. Ramirez & Co. promoted two investment bankers to senior management. Patty McGrorry, managing director, was promoted to head of underwriting. Lorry Palacios, senior managing director, was promoted to co-head of public finance. The two have worked at Ramirez for
close video FOX Business Flash top headlines for January 27 Check out what’s clicking on FoxBusiness.com. President Donald Trump on Tuesday said he has tasked his new Department of Government Efficiency head, SpaceX CEO Elon Musk, with bringing home two astronauts who he said have been "abandoned" by the Biden administration. Butch Wilmore and Suni
After starting the week with a red Monday, Bitcoin (BTC) has recovered the $100,000 zone, registering a 4% recovery from yesterdays lows. Following its recovery, some crypto analysts suggested that BTC could be getting ready for a February pump. On Monday, the crypto market suffered a shakeout generated by the broader sell-off ignited by DeepSeeks
Ethereum is experiencing a gradual recovery as its price climbs above $3,100. This marks a 2.3% increase over the past day. However, the asset remains in a state of overall decline, down 3.3% over the week. While this modest rebound offers some relief, Ethereum is still grappling with the effects of an overall bearish trend.
Starbucks tested out panic buttons at five locations to protect baristas during unsafe situations, the company says. The java giant has instituted a new set of store rules under freshly minted CEO Brian Niccol targeting patrons who have spent an inordinate amount of time on laptops or people who are lounging around without making a purchase, according to
The United States Navy has officially banned its members from using DeepSeek an artificial intelligence chatbot created in China out of fear the Chinese government could exploit sensitive data, according to a report. In an email to members of the military branch, the Navy banned the use of DeepSeek AI in any capacity for fear
Honda will recall 294,612 vehicles in the US to fix an issue that may cause engines to stall or suffer a loss of power, the National Highway Traffic Safety Administration said on Wednesday. The recall affects certain 2022-2025 Acura MDX Type-S, 2023-2025 Honda Pilot, and 2021-2025 Acura TLX Type-S vehicles. A software error in the
Minnesota Gov. Tim Walz’s $887 million state bonding plan includes $10 million for removal of the Rapidan Dam after its partial failure in 2024.Office of Gov. Tim Walz Minnesota Gov. Tim Walz and North Dakota Gov. Kelly Armstrong have both proposed hundreds of millions in bonding as the Midwest’s governors begin rolling out state budget
A for sale sign is displayed outside of a home for sale on August 16, 2024 in Los Angeles, California. Patrick T. Fallon | AFP | Getty Images Mortgage rates didn’t move last week, but demand for new home loans continued to weaken. Both home buyers and current homeowners are hampered by today’s higher interest
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. ASML, the chip manufacturing equipment maker, said orders for its most advanced machines surged last quarter, suggesting producers of artificial intelligence processors were increasing capacity before China’s DeepSeek this week triggered a panic over future
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