Simone Del Rosario
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Weakening euro hits 20-year low against dollar over recession fears, energy crisis
The euro is dangerously close to reaching parity with the dollar, where $1 would buy €1. As of Tuesday afternoon, the euro had shed around 1.6% against the dollar to under $1.03, its lowest mark in 20 years, according to FactSet. On the bright side, a weakening euro means it is the perfect time for… -
Fireworks, airlines and oil companies to profit most over Fourth of July
Rampant inflation has Americans spending more than ever before over the 4th of July holiday and that means big money for corporations. Here’s who’s making the most profit off the festivities in this week’s Five for Friday. #5: Airlines Getting away is what summer is all about and that’s why airlines stand to make some… -
Stock market skids to worst start of the year since 1970, S&P down 21%
The stock market notched its worst start to the year in more than 50 years with the S&P 500 closing down 21% over the past six months. The skid marks the poorest first-half performance from the index since 1970. The S&P 500 ended June 30 at 3,785, more than a thousand points lower than the… -
When companies should speak up or stay silent on hot button issues
One would think that winning a case for law clients in the highest court in the land would grant the attorneys a few pats on the back at work. Instead, the two attorneys behind June’s Second Amendment victory at the Supreme Court were shown the door. Kirkland and Ellis, the world’s highest-grossing law firm, told… -
Oil giant UAE looks to be dual threat with massive clean energy investments
When it comes to the Persian Gulf and energy, oil is the obvious product: The region is home to more than half of the world’s oil reserves. But at least one nation there is looking to become a dual threat. According to the Wall Street Journal, the United Arab Emirates is “emerging as one of… -
Pending home sales see surprise increase in May amid wider market cooldown
Signs were starting to point to a slowing housing market, but in a surprise swing, pending home sales increased in May, snapping a six-month skid. According to the National Association of Realtors, the pending homes sales index ticked up 0.7% in May from April when economists had expected a 4% contraction. “The definitive unsustainable blip,”… -
Trump Media, Buzzfeed, Beachbody top list of biggest SPAC busts
Using special purpose acquisition companies (SPACs) to take firms public was all the rage on Wall Street in 2020 and 2021. The stock market was booming and SPAC mergers represented a fast-tracked way to circumvent the traditional IPO process. By early 2021, critics started warning that the SPAC bubble was about to burst. Instead, the… -
Kellogg spinning off iconic cereal business, splitting into 3 companies
Iconic breakfast brand Kellogg’s will soon go by a new name. The company on Tuesday announced plans to split into three independent public companies to represent cereal, snacking and plant-based products. “These businesses all have significant standalone potential, and an enhanced focus will enable them to better direct their resources toward their distinct strategic priorities,”… -
Meta blames Apple iPhone tracking pop up for $10 billion blow
Are those targeted ads in your Facebook feed a little less creepy these days? You can thank Apple for that. It’s been a year since the iPhone maker introduced a pop-up requiring apps to ask its users if they consent to being tracked across the web. With about 75% of users selecting “Ask App Not… -
Leadership change marks latest shakeup at Starbucks
The departure of North American President Rossann Williams is just the latest leadership shakeup at Starbucks. The company announced Friday the executive, who played a key role in anti-union efforts the past year, would be replaced by Asia Pacific President Sara Trilling. Meanwhile, Starbucks is still searching for its next CEO, which interim chief Howard… -
From golf to MLB, how these 5 pro sports act as monopolies
When we think about monopolies, Big Tech comes to mind. Or maybe that board game that has started many family conflicts. But it’s competitive sports leagues that seem to be guilty of the most anti-competitive business practices. The recent suspension of a group of PGA golfers is just the tip of the iceberg. Here are… -
Beauty giant Revlon files for bankruptcy, struggles to compete with influencers
Talk about a financial makeover: Revlon has filed for Chapter 11 bankruptcy. The beauty giant backed by billionaire Ron Perelman found itself caked with a debt load it couldn’t handle after COVID-19 and market competition struggles. Bankruptcy will allow Revlon to restructure its $3.7 billion debt and access $575 million in financing from its existing… -
Quantitative tightening is ‘uncertain’ Fed method to cool inflation
For just the second time in modern history, the Federal Reserve started quantitative tightening in June to draw down its unprecedented $9 trillion balance sheet. The central bank’s assets on hand have more than doubled since the start of the pandemic. “I would just stress how uncertain the effect is of shrinking the balance sheet,”…
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Scandal-plagued Illinois ‘super mayor’ defeated in re-election bid
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Phoenix Mercury legend Diana Taurasi retires after 20 seasons in WNBA
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Texas rancher killed by IED near southern border, officials suspect cartel
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US Supreme Court declines to hear Tennessee drag show case
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House narrowly passes budget resolution, keeping Trump’s agenda alive
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