Claim OwnershipBusiness Matters with Don Ma
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The latest business updates, expert analysis, and in-depth reports.
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U.S. consumer sentiment tumbled to a six-month low in May, as households worried about the higher cost of living and unemployment.President Joe Biden is set to announce new China tariffs as soon as next week targeting strategic sectors, including a major hike in levies on electric vehicles (EVs), according to people familiar with the matter cited by Reuters.Novavax’s stock more than doubled in Friday, it had struck a licensing deal worth at least $1.2 billion with Sanofi for its COVID-19 vaccine, in exchange for a stake that valued the U.S. biotech firm at double its current market capitalization.
A new report says a number of U.S. pensions, university endowments, and other institutional investors may have exposure to TikToks owner Byte Dance, this is from a new report by a bipartisan advocacy organization Future Union.Lawmakers at the house of representatives have voted to repeal a controversial crypto rule by the Securities and Exchange Commission. The rule relates to how banks handle digital assets like cryptocurrencies — It requires custodians of digital assets to account for them as a liability on their balance sheets. NTD spoke with Rep Mike Flood, the republican lawmaker who introduced the house resolution. The number of Americans filing new claims for unemployment benefits rose last week to the highest level in more than eight months, offering more evidence that the labor market was steadily cooling.
Crypto exchange FTX will have between $14.5 billion to $16.3 billion to pay its creditors and customers, according to an amended reorganization plan filed by the company on Tuesday in a U.S. bankruptcy court.Blackstone Real Estate Income Trust is baffling investors. The $59 billion fund has boasted 10.5% annual return since its debut in 2017. Competitors on the other hand have fallen in value. Criticism is growing over how the fund values its assets. The U.S. has reportedly revoked licenses that allowed companies including Intel and Qualcomm to ship chips used for laptops and handsets to sanctioned Chinese telecoms equipment maker Huawei Technologies.
TikTok sued on Tuesday to block a new law that requires the sale of the app from its Chinese parent company or its ban from app stores and web-hosting services. A new report shows that the Social Security system’s main trust fund will be depleted by 2035—one year later than a prior estimate, though concerns remain about the fund’s solvency.Walt Disney's surprise profit in its streaming entertainment division was eclipsed by a drop in its traditional TV business and weaker box office, sending its stock tumbling 10%, on track for its deepest one-day drop in 17 months.
Warren Buffett assured Berkshire Hathaway shareholders that the executives expected to succeed him were ready for the job, and he heaped praise on Apple although Berkshire trimmed its position in the iPhone maker.The Federal Aviation Administration said on Monday it has opened an investigation into the Boeing 787 Dreamliner after the planemaker said some employees had committed "misconduct" by claiming some tests had been completed.Retail trading platform Robinhood Markets said on Monday it received an enforcement action notice from the U.S. Securities and Exchange Commission (SEC) on May 4 over crypto tokens traded on its platform.
An auditing firm that represents hundreds of clients including Trump Media, which owns former President Donald Trump’s “Truth Social” app, reached a $12 million settlement with the SEC to settle charges alleging it failed to comply with accounting oversight standards affecting over 1,500 of its SEC filings.The U.S. labor market showed further signs of cooling down after the economy added a smaller-than-expected 175,000 new jobs last month, down from 315,000 in March, according to the Bureau of Labor Statistics (BLS). The market had penciled in a reading of 243,000 positions.Apple shares jumped 7% on Friday as the iPhone maker's record stock buyback plan and promise of sales growth brought back investors who have shunned the stock on concerns over weak demand and increased competition in China.
A former quality auditor at a Boeing supplier died suddenly this week after struggling with a “sudden, fast-spreading infection,” the Seattle Times reported on May 1.U.S. stocks rallied on Thursday as investors weighed the Federal Reserve's more dovish-than-expected interest rate guidance on Wednesday against a plethora of mixed earnings and economic data.A U.S. District Judge peppered the Justice Department and Alphabet's Google with questions in the first day of closing arguments in the government's antitrust lawsuit against the online search leader.The Justice Department argued the search engine giant is a monopolist and illegally abused its power to favor its bottom line. Google lawyer rejected contentions the company had engaged in anticompetitive conduct.
The Federal Reserve left interest rates unchanged at their highest levels in 23 years as monetary policymakers have observed “a lack of further progress” toward the central bank’s 2 percent inflation target.Regulatory filings show that former President Donald Trump increased his stake significantly in the company behind his social media platform Truth Social, with the former president now owning nearly 65 percent of Trump Media & Technology Group (TMTG) and becoming around $1.8 billion richer.A majority of Americans believe that China uses TikTok to shape U.S. public opinion, according to a Reuters/Ipsos poll conducted as Washington moves closer to potentially banning the Chinese-owned short-video app.People over the age of 60 in the US reportedly lost more than $3.4 billion in fraud schemes in 2023, a nearly 11% increase from the year before, according to a report from the FBI released Tuesday.
Binance founder Changpeng Zhao was sentenced Tuesday to four months in prison for allowing rampant money laundering on the world’s largest cryptocurrency exchange.Elon Musk has dismissed two Tesla senior executives and plans to lay off hundreds more employees, frustrated by falling sales and the pace of job cuts so far, The Information reported on Tuesday, citing the CEO's email to senior managers.U.S. consumer confidence deteriorated in April, falling to its lowest level in more than 1-1/2 years amid worries about the labor market and income, a survey showed on Tuesday.
An April small business report found 43% of small business renters were late on their rent or could only pay part of their payment. Alignable conducted the survey. It found that small business owners say rent is higher, costs have increased, and revenue is declining. Nearly 70% of businesses formed before the pandemic report making less monthly now. The report also found that inflation is growing as the top concern for small businesses.Link to the report: https://www.alignable.com/forum/april-is-the-worst-small-biz-rent-delinquency-month-in-three-yearsTesla CEO Elon Musk visited Beijing over the weekend, reportedly to discuss with senior government officials the rollout of his full self-driving (FSD) software and permission to transfer data overseas, only a week after canceling a planned visit to India.A new AARP survey found that one out of five Americans ages 50 and over have no retirement savings. Lawrence Sprung, Founder of Mitlin Financial says it’s never too late to start saving. Sprung says it all depends on your goals. From there you must plan and budget. He also says retirement doesn’t mean you have to stop working completely, some may choose to just cut down on hours. Sprung shares his number one tip and a tool available online to calculate the amount each person needs to retire.
The Federal Reserve’s preferred inflation gauge surged at a higher-than-expected pace, highlighting the persistent struggle to return inflation to the central bank’s 2 percent target.Alphabet Inc. announced a first-time-ever dividend program and a $70 billion buyback of its own stock that could revitalize the tech company for the next year.TikTok’s Beijing-based owner ByteDance denied media reports of selling the platform as the company faces a mandate to either divest the firm or be banned from the United States.
NTD Business News—4/28/20231. IRS Hiring More Armed Tax Enforcers2. Fed Chairman Pranked by Zelenskyy Imitators3. Digital Health Device Cybersecurity Risk?4. FBI Director Testifies on CCP Cyber Warfare5. Exxon Mobil Hits Record First Quarter Profits
NTD Business News- 4/27/20231. Lyft, Gap, Dropbox Laying Off Thousands2. U.S. Economic Growth Slows Sharply in 1st Quarter3. U.S. May Be Experiencing Stagflation: Analyst4. Tucker Carlson Breaks Silence5. America First Legal Seeks Mars Investigation
NTD Business News- 4/26/20231. House Republicans Vote on Debt Ceiling Bill2. McCarthy's Debt Bill Would Save $4.8T: CBO3. Chances Growing of U.S. Default In June4. Disney Sues DeSantis After Privileges Revoked5. First Republic Shares Plummet, Worries Mount
NTD Business News- 4/25/20231. Big Tech Earnings In Focus This Wk2. First Republic Bank Shares Plummet3. GM Ending Production Of Chevy Bolt EV4. 3M To Lay Off 6K More Workers5. OpenAI Rolls Out 'Incognito Mode' On ChatGPT
NTD Business News- 4/24/20231. Fox News Announces Tucker Carlson Out2. Don Lemon Terminated By CNN3. NBC CEO Ousted Over Co-Worker Relationship4. Disney To Lay Off 7K, Push Streaming Efforts5. Bed Bath & Beyond Files For Bankruptcy
NTD Business News- 4/21/20231. Musk Pays For Blue Checkmarks, Removes Others2. Twitter Drops 'Government-Funded Media' Label3. Dhs Secretary Mayorkas Building Ai Task Force4. Stars Threaten Lawsuits Over Ai Voices5. Deloitte To Cut 1.2K Us Jobs: Financial Times
NTD Business News- 4/20/20231. Buzzfeed News Shuts Down Amid Workforce Cuts2. SpaceX Starship Rocket Launches, Then Explodes3. Tesla Revenue, Profits Fall After Price Cuts4. Elon Musk Threatens to Sue Microsoft5. Snapchat AI Chatbot Is Now Free
NTD Business News- 4/19/20231. Speaker McCarthy Unveils GOP Debt Ceiling Proposal2. Elon Musk: No ‘Magic Cure’ For Inflation3. Tesla Slashes Prices For 6th Time This Year4. Strong Demand Causes NJ To Pause EV Rebates5. Biden Tax Credits Benefit The CCP: Hearing
NTD Business News- 4/18/20231. Johnson & Johnson Reports First Quarter Sales2. Goldman Sachs Profit Falls On Marcus Loss3. Commercial Real Estate Defaults Likely?4. Default Risk For Office Building Mortgages?5. Musk: Gov't Had Access To Twitter Messages
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