Mortgage rates unlikely to fall significantly, even if the Fed cuts interest rates
Ally McCartney, managing director at UBS Private Wealth Management, explains on “Making Money” how the Fed’s message could affect markets. of Federal Reserve The Fed laid out the rationale for a September interest rate cut at the end of its two-day meeting on Wednesday, but the long-awaited cut may provide little relief to Americans struggling […]
Intel cuts whopping 15K jobs, posts $1.6B loss just months after getting Biden funds
Chipmaker Intel is cutting 15% of its vast workforce, or about 15,000 jobs, as it tries to restructure its business to compete with more successful rivals such as Nvidia and AMD. Intel CEO Pat Gelsinger said in a memo to employees on Thursday that the company plans to cut costs by $10 billion in 2025. […]
Intel stock, chipmakers, AI, job cuts
Jason Katz, managing director and senior portfolio manager at UBS, discusses in Varney & Co. whether big tech earnings will boost the stock market. Intel shares plummeted after the company said it would cut about 17,000 jobs and suspend dividend payments as part of a massive cost-cutting plan. The company plans to “resize and refocus” […]
Hershey cuts yearly guidance, profit after 17% drop in sales
Hershey’s on Thursday reported a 17% drop in second-quarter sales and sharply cut its full-year profit and sales outlook. Shares plunged 4.5% early Thursday morning but have since risen 5%. The Pennsylvania-based candy company, which has a market capitalization of $38.83 billion, like many in the food and snack industry, has been struggling as consumers […]
Higher rates to linger, Fed may make cuts in September
Market expectations are for two interest rate cuts by the end of the year. (iStock) The Federal Reserve announced on Wednesday that it plans to keep the federal funds rate in a range of 5.25% to 5.5%, where it has been since last July. Fed Chairman Jerome Powell told reporters: The central bank is increasingly […]
Biden EPA Cuts Big Check For Pro-Defund The Police Activists To Pursue ‘Climate Justice’ For Convicts
The Environmental Protection Agency (EPA) is sending up to $3 million to activist groups that advocate for cutting police budgets and closing prisons to pursue “climate justice” for incarcerated people and “reentry communities.” The Ella Baker Center for Human Rights (Baker Center) and the Insight Garden Program chosen It will receive $1 million to $3 […]
Outrage after Biden cuts 9/11 terrorists ‘sweetheart’ deal and more top headlines
Good morning and welcome to Fox News First, your morning newsletter from Fox News. Subscribe now to get Fox News First in your emailHere’s what you need to know to start your day… “A slap in the face” – President Trump’s right-hand man issues warning to terrorists, vows to stop “sweetening” Biden administration after striking […]
Biden Admin Cuts Plea Deal With 9/11 Gitmo Defendants, Death Penalty Reportedly Off The Table
The Biden administration has reportedly reached plea deals with three defendants being held at Guantanamo Bay for their alleged involvement in the Sept. 11 terrorist attacks that will spare them the death penalty, the New York Post reported Wednesday. Department of Defense (DOD) Announced The government has struck deals with three prisoners, including alleged 9/11 […]
ABC News, ‘GMA’ staffers brace for layoffs as Disney cuts costs: sources
Staff at Disney-owned ABC News are bracing for major job cuts as the network makes drastic budget cuts, including to staff at its top-rated show, “Good Morning America,” according to information obtained by The Washington Post. The Mouse House has asked “GMA” to cut its bottom line by as much as $19 million from its […]
Stacey Abrams cuts off CNN's Kaitlan Collins: 'You're repeating disinformation'
Former Georgia gubernatorial candidate Stacey Abrams on Tuesday challenged CNN’s Kaitlan Collins, accusing her of spreading “disinformation” following her refusal to concede her loss in the 2018 election. Abrams narrowly lost the 2018 gubernatorial election to Republican Governor Brian Kemp and refused to concede, arguing that state election laws violated voting rights. Her refusal to […]