Goldman Sachs’ profit more than doubled in the second quarter, bolstered by higher fees from debt underwriting
Anastasia Amoroso, chief investment strategist at iCapital, talks to “Making Money” about what could be the catalyst for a stock market selloff. Goldman Sachs’ profits more than doubled in the second quarter, thanks to higher debt-underwriting fees and strong performance in its bond-trading business. The bank reported Monday profit of $3.04 billion, or $8.62 per […]
Dealerships Are Getting Excited About How Quickly Electric Vehicles Break Down
Car dealerships could win big in the Biden administration’s push for electric vehicles (EV) due to their greater need for repairs and short lifespans, the Wall Street Journal reported Friday. EVs spend much less time on the road before being replaced compared to gas vehicles due to battery degradation, insurers often preferring to replace EVs […]
Allstate reportedly wants to raise California homeowners rates by 34%
“Mansion Global” host Katrina Campins breaks down the housing market amid growing concerns about rising home prices on “The Big Money Show.” Allstate, one of California’s largest insurers, wants to raise homeowners premiums by an average of 34%, which could be the biggest increase this year. If approved by the state Insurance Department, the rate […]
Paris Olympics a drag on revenues for Air France, Delta; will cost millions
See what’s clicking on FoxBusiness.com The Paris Olympics are having a negative impact on the revenues of both airlines. Air France-KLM Group and Delta Air Lines both said the Olympics reduced demand to Paris between June and August, negatively impacting their unit revenues. Their comments come as the Summer Olympics rapidly approach, with Paris hosting […]
Stolen crypto via hacking increased 110% in first half of 2024 over 2023
Constellation Research founder R. “Ray” Wang appeared on “Varney & Co.” to discuss the upcoming Ethereum ETF and its potential impact on the economy. TRM Labs recently found that cryptocurrency hackers stole $1.38 billion in the first half of 2024. This total represents a 110% increase from the amount swiped in the first half of […]
Texas grocery store gets state’s first ammunition vending machine
Aidan Johnston, director of federal affairs for the American Gun Owners Association, explains why gun sales are soaring in the US. A new vending machine has been installed at a supermarket in Canyon Lake, Texas, but instead of selling candy, drinks or potato chips, it’s selling ammunition. The state’s first ammunition vending machine was recently […]
Kroger, Albertsons identify nearly 600 locations they will to get merger approved
See what’s clicking on FoxBusiness.com Kroger and Albertsons, which are considering a merger, have identified 579 grocery stores nationwide to sell from their combined total. The plans to sell the stores are linked to the grocer’s efforts to ease concerns expressed by regulators over Kroger’s proposed acquisition of Albertsons. The stores will be acquired by […]
BMW Of North America Issues Massive Recall Due To Airbag Issues
BMW of North America is recalling 394,029 vehicles in the U.S. due to airbag inflators that can potentially explode and cause significant injuries or death. The recalled vehicles may have non-original steering wheels, sport or M-sport steering wheels, equipped with Takata inflators, The Associated Press reported Wednesday. Should the Takata inflator explode, shards of metal […]
Maxine Waters Badgers Fed Chair Into Praising ‘Diversity And Inclusion’ In Congressional Hearing
Democratic California Rep. Maxine Waters pestered Federal Reserve Chairman Jerome Powell during a Wednesday hearing to tout the importance of “diversity and inclusion” in the economy. The federal government and other institutions have ended or rolled back diversity initiatives involving race following a series of lawsuits alleging they are discriminatory. Waters, during a House Financial Services […]
Billionaire investor Bill Ackman starts fundraising for new US fund
See what’s clicking on FoxBusiness.com Hedge fund manager Bill Ackman began raising funds in the U.S. on Tuesday for an initial public offering of a closed-end fund. The effort could raise $20 billion, more than double Mr. Ackman’s assets under management, some of it from individual investors, according to people familiar with the matter. Last […]