Where Tim Walz stood on tax cuts in Congress
Minnesota Governor Tim Walz (Democrat) has a mixed record on taxes, having voted for tax increases that angered Republicans while also breaking with Democrats to extend Republican tax cuts. As a member of the House of Representatives in 2012, Walz was one of 19 House members who voted for a Republican bill to extend George […]
UK news outlet cuts live feed after reporter is surrounded by masked men shouting ‘Free Palestine’
Britain-based Sky News halted its live coverage after a group of masked men disrupted the broadcast, shouting foul language and “Free Palestine”. Sky News reporter Becky Johnson reports on the unrest in Birmingham, England, where a crowd of Muslim men gathered on Monday to “protect the city” from the “far right.” Riots have broken out […]
Warren Buffett’s Berkshire cuts Apple stake by half, boosts cash stockpile to $277B
Neuberger Berman Senior Research Analyst Dan Flax predicts earnings for big tech companies and which stocks are well-positioned. Warren Buffett’s Berkshire Hathaway The company plans to sell about half of its Apple shares, increasing its cash holdings to about $277 billion, according to figures released on Saturday. Berkshire’s quarterly report It suggests that the 93-year-old […]
Intel’s massive job cuts come after it received $8.5 billion in taxpayer money
Evolution VC Partners founder Greg Smith analyzes Varney & Co.’s ‘massive’ stock market sell-off Months after the federal government gave Intel $8.5 billion in subsidies to bring chip manufacturing back to the U.S., the company announced it would cut 15% of its workforce, or about 17,000 jobs. The technology company announced the job cuts as […]
Panicked Democrats Demand Rate Cuts Now
Democrats on Friday called on the central bank to cut interest rates now as unemployment continues to soar. The unemployment rate jumped to 4.3% and payrolls added 114,000 jobs in July, well below the 180,000 that economists had expected. John Carney, economics editor at Breitbart News, noted that a significant increase in the unemployment rate […]
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 […]