Brent Jabbour
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GameStop stock roars back on Monday with help from Roaring Kitty posts
The face of 2021’s meme-stock craze is back with a post on X. The single meme sent GameStop’s stock surging, eventually halting trading due to volatility. Keith Gill, better known as Roaring Kitty on YouTube and social media, returned to the platform previously known as Twitter for the first time in nearly three years Sunday,… -
Fmr. Fed president: If the Fed wants 2% inflation, they have to raise rates
At the start of the year, markets anticipated the Federal Reserve would cut interest rates six times in 2024. Five months into the year, even a single interest rate cut is questionable as inflation stays stubbornly above 3%. Minneapolis Federal Reserve Bank President Neel Kashkari said on May 7 the Fed may need to hold… -
With TikTok ban, US raises stakes in US-China tit for tat
China has yet to retaliate for the U.S. passing legislation that either bans or forces the sale of TikTok. However, history dictates China will act in an ongoing, technological tit for tat. On Tuesday, TikTok owner ByteDance sued to block the legislation, claiming it violates the U.S. Constitution. The government itself has not yet reacted… -
TikTok and ByteDance fight back, sue US government over potential ban
TikTok and ByteDance filed a lawsuit in federal court Tuesday, May 7, challenging legislation that would ban or force the sale of the popular app. The companies claim the new law violates the U.S. Constitution and referenced the First Amendment 27 times. The law, signed by President Biden in April, gives the Chinese parent company… -
Work 5 days a week? This US county is seeing success with 32-hour workweeks
The island county of San Juan in Washington state was one of the first local governments in the U.S. to switch most of its employees to a 32-hour workweek. Now, six months in, the county is “encouraged” by what it has seen. San Juan didn’t move to 32 hours out of sheer curiosity, like some… -
Cocoa prices are rich. Here’s when it will hit the grocery store.
In Steve Wateridge’s four decades covering cocoa, he said he’s never before experienced this level of global captivation by the cocoa market and its prices. Then again, prices have never been this high. “It’s a shame they didn’t care about it a bit more five years ago when something could have been done and should… -
Private equity firm bets on natural grass after artificial turf issues
On his first home game on artificial turf, Aaron Rodgers lasted just four snaps before his Achilles snapped at MetLife Stadium. His season-ending injury reignited a fierce debate about the safety of artificial turf. Now a sports-focused private equity firm is betting big on natural grass. Bruin Capital, founded by former NASCAR COO George Pyne, is reportedly… -
Trump vs. Fed: Allies plan for Trump to have more control over interest rates
An exclusive report from The Wall Street Journal claims that Donald Trump’s allies are drawing up plans to dull the Federal Reserve’s independence if the former president wins another term. Trump repeatedly clashed with the central bank during his four years in the White House. According to the Journal, these allies think the president should be… -
Growing pains: Will India replace China as global growth leader?
India already knocked off China as the most populous country in the world. Now, it’s going after China’s title of global growth engine, a crown that economists believe India could claim by 2028. To get there, though, the developing nation will need to address some growing pains. “I think everyone would be making a mistake… -
Collateral damage: Why Apple’s iPhone sales are getting crushed in China
Apple’s iPhone sales are getting crushed in China. Sales of the smartphone dropped 19% in the first three months of 2024, the worst showing since COVID-19 hit. Meanwhile, sales from the Chinese smartphone maker Huawei surged nearly 70%, according to Counterpoint research. China remains one of the biggest markets for Apple but the company has… -
The US has ‘fiscal cancer.’ The 2024 election could put off treatment.
The U.S. national debt is creeping toward $35 trillion after decades of running deficits. According to a former comptroller general who served under two U.S. presidents, the country’s biggest deficit is in leadership. “The truth is, the U.S. has fiscal cancer,” David M. Walker said. “You can beat cancer. My wife beat cancer. But first… -
‘They’re cheating’: Biden wants to triple tariffs on Chinese steel and aluminum
President Joe Biden wants to triple tariffs on Chinese steel and aluminum. He claims cheap Chinese exports are undermining American products. China is the No. 1 producer of the two metals worldwide. The White House said the nation is not only “dumping” products on the market that are “among the world’s most emissions-intensive,” but subsidizing… -
Inflation ‘out of Fed’s control,’ so what should it do with interest rates?
March’s sticky inflation report has thrown into question the timing of the Federal Reserve’s anticipated interest rate cuts. In fact, some have said Americans can’t rule out the Fed going in the opposite direction and hiking the rate instead. The Federal Reserve penciled in three quarter-percentage point rate cuts in 2024, but that was before…
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