Simone Del Rosario
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No quick fix for Intel as it weighs investment and buyout offers
Once a semiconductor powerhouse, Intel is falling from grace and now has two firms vying to catch it. San Diego-based Qualcomm is offering to acquire the company, the Wall Street Journal first reported, while asset management firm Apollo Global Management has offered an investment lifeline worth up to $5 billion, Bloomberg reports. Intel has a market… -
Does Fed rate cut plus falling mortgage rates equal more affordable housing?
Falling interest rates may pique the interest of prospective homebuyers but experts don’t necessarily think it is going to loosen the market anytime soon. The rate for a 30-year fixed mortgage averaged 6.09% for the week, according to Freddie Mac. The dip comes as the Federal Reserve cut its benchmark interest rate by 50 basis… -
Nike rehires 1988 intern as next CEO. Here are Elliott Hill’s first hurdles.
Nike’s new CEO has a lot of ground to make up. On Thursday, Sept. 19, the company announced the sudden retirement of four-year CEO John Donahoe, while Elliott Hill will be returning from retirement to lead the company. Hill last led commercial and marketing operations for Nike and the Jordan brand in 2020. He spent 32… -
Who’s Larry Ellison and what’s Oracle? Bezos challenged as No. 2 richest
Oracle chairman and co-founder Larry Ellison is making moves near the top of the list of the world’s richest people. The tech billionaire recently surpassed Amazon founder Jeff Bezos to take over the No. 2 slot, although there is now back-and-forth for the position. Ellison has an estimated net worth of just over $200 billion… -
Federal Reserve cuts rate by 50 bps ending hike cycle that started in 2022
The Federal Reserve lowered its benchmark interest rate by a supersized 50 basis points, outpacing expectations of 25 basis points. Markets surged Wednesday afternoon, Sept. 18, as the central bank ended its rate-hike campaign that started in 2022. The federal funds rate now sits between 4.75%-5%, down from 5.25%-5.5%. This marks the first rate cut… -
Thousands of California foster children at risk of losing their homes
Nearly 10,000 children in California’s foster care system are at risk of losing their homes over insurance. There are about 45,000 kids total in California’s foster system and more than 1 in 5 of them live in group homes supported by nonprofit foster family agencies, or FFAs. Most often, FFAs care for children considered high-risk,… -
Trump boosts his crypto chops with a new private venture
Former President Donald Trump was off the campaign trail Monday, Sept. 16, as he took part in a live stream to promote a new cryptocurrency venture. Though he took part in a Q&A to start the event, there are still plenty of questions left unanswered about World Liberty Financial (WLF). The former president, along with… -
Markets are betting on a supersized rate cut. Why the Fed may disappoint.
Markets are increasingly betting the Federal Reserve will make a supersized rate cut at this week’s meeting. There are two camps: Those who believe the Fed will cut interest rates by 25 basis points and those who believe the Fed will double up to 50 basis points. A week ago, 2 out of 3 futures traders… -
‘Recession pop’: Can great music signal an economic downturn?
It’s tough to identify if the economy is in a recession. Economists toil over economic data to try to find the most accurate indicators. Gross domestic product and unemployment numbers are great data points, but what does the state of pop music tell us about economic conditions? Traditionally, two consecutive quarters of negative growth is… -
Boeing: The perfect story of what’s wrong with America’s economy?
Boeing’s bright spot this year was the hiring of its new CEO, an engineer and aerospace chief named Kelly Ortberg, after years of finance men at the helm. But Ortberg’s arrival is clouded by the controversies hanging over Boeing, from hours-long hearings on safety issues to a fraud charge to the first worker strike in… -
Boeing’s ‘bad blood’ with union workers led to first strike in 16 years
More than 30,000 Boeing factory workers walked off the job Friday, Sept. 13, after overwhelmingly rejecting a tentative agreement between Boeing and the union. A high 96% of Pacific Northwest workers from the International Association of Machinists and Aerospace workers voted in favor of the strike. “I’m ready. I’ve been preparing for this for a… -
Tack on one more to Trump’s tax-cut pledges: No tax on overtime pay
Former President Donald Trump said on Thursday, Sept. 12, he would add another tax cut to his agenda if elected to the White House in November. This time, the Republican nominee pledged to eliminate taxes on overtime pay. “The people who work overtime are among the hardest-working citizens in our country, and for too long,… -
The more affordable coffee beans aren’t so affordable anymore
A cup of coffee is part of many morning routines, but at night farmers are working overtime to keep coffee safe from crime. Coffee prices are abnormally high with robusta bean futures surging 65% this year and the lucrative trade is attracting unwanted attention. A coffee farmers association in Uganda is reportedly urging farmers to hire…
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