Author: News Room

Amazon.com, Inc. (NASDAQ:AMZN) Goldman Sachs Communacopia + Technology Conference September 9, 2024 4:05 PM ET Company Participants Matt Garman – CEO of Amazon Web Services Conference Call Participants Eric Sheridan – Goldman Sachs Eric Sheridan All right. So all right, I think we’re going to get going in the interest of time. I know people are still moving around, but it’s my pleasure to introduce Matt Garman, the CEO of AWS, representing AWS as part of amazon.com today. First, I’m going to read the safe harbor and then Matt and I are going to get into a conversation. During the…

The U.S. government’s road safety agency wants the auto industry to design new vehicles including increasingly large SUVs and pickup trucks so they reduce pedestrian deaths and injuries. The National Highway Traffic Safety Administration said Monday that it’s proposing a new rule setting testing and performance requirements to minimize the risk of pedestrian head injuries. The rule is aimed largely at SUVs and pickup trucks, which have grown in size and hood height over the years, causing blind spots for drivers. NHTSA said pedestrian deaths increased 57% from 2013 to 2022, from 4,779 to 7,522. The agency says the rule would…

If you’re considering a political candidate, it makes sense to examine their record on fiscal issues and how their policies have affected their constituents’ finances. But what about the candidate’s personal finances?Such are the conversations surrounding Minnesota governor and vice-presidential candidate Tim Walz. Walz and his wife Gwen earned about $300,000 in 2023, according to documents shared with the Wall Street Journal. His Republican rival, Senator J.D. Vance, disclosed 2022 income between $1.2 and $1.3 million.Even more interestingly, Walz told the Journal that he made a roughly $135,000 early withdrawal from a workplace retirement account last year to fund his…

Goldman Sachs will post a roughly $400 million pretax hit to third-quarter results as the bank continues to unwind its ill-fated consumer business.CEO David Solomon said Monday at a conference that by unloading Goldman’s GM Card business, as well as a separate portfolio of loans, the bank would post a hit to revenues when it reports results next month.It’s the latest turbulence related to Solomon’s push into consumer retail. In late 2022, Goldman began to pivot away from its nascent consumer operations, beginning a series of writedowns related to selling chunks of the business. Goldman’s credit card business, in particular…

Have you noticed how much information appears in both mainstream and social media about American pensioners planning or wishing to retire abroad? If you’re among those dreaming of retiring abroad, you’re in good company. According to Fortune, “boomers are leaving America to retire abroad in droves because the U.S. is just too expensive.” Or, as CNN writes: “As America’s retirement crisis grows, so too does the dream of retiring abroad where cities are walkable, social services plentiful and the cost of living affordable.” The number of Americans looking to settle abroad has tripled over the past 30 years, according to…

The most important moment in the race between Kamala Harris and Donald Trump comes this week, as the vice president prepares for what could be her only opportunity to directly confront a former president whose political dominance she is pledging to end. Their Tuesday night debate is particularly important for Harris, who is battling to define herself in voters’ eyes and keep up the positive momentum she’s enjoyed since becoming the Democratic Party’s new nominee this summer. The debate at the National Constitution Center in Philadelphia will be the first face-to-face encounter between Harris and Trump, who are locked in…

Anthony Miller © WestpacWestpac, one of Australia’s Big Four banks, named Anthony Miller on Monday as its new chief executive to succeed the retiring Peter King.Miller, currently CEO of Westpac’s Business & Wealth division, will take office in December.“Anthony is an exceptional leader,” said Westpac chairman Steven Gregg. Miller was previously Deutsche Bank’s Australia and New Zealand chief executive. He also spent 16 years at Goldman Sachs.“In our search for a CEO, we looked for an executive who is customer-focused with a proven record of performance and a deep understanding of the Australian market,” Gregg said. Read the full article…

Distribution Is Sustainable As Long We Develop Time Travel By 2027 In April of this year, we switched NextEra Energy Partners LP. (NYSE:NEP) to a Sell rating. So we would not count on the current distribution becoming your annualized total return profile in the next 5 years. We rate NextEra Energy Partners, LP units a Sell and think there is substantial downside once the distribution is realigned. Source: Lower For Longer The stock realized that resistance was futile and moved lower. Seeking AlphaPrevious to that, as well, we have been skeptical of the merits of this investment. Seeking AlphaOver the…

DirecTV filed a complaint Saturday with the Federal Communications Commission alleging Disney did not negotiate in good faith as the two sides remain at an impasse on a distribution deal. “Disney has violated the FCC’s good faith mandates by predicating any licensing agreement on DIRECTV’s waiving any legal claims on Disney’s past, current, or future anticompetitive actions, including its ongoing packaging and minimum penetration demands,” a DirecTV spokesperson told CNN on Sunday. In the 10-page complaint, DirecTV claimed the negotiations stalled because, “Disney insists on bundling and penetration requirements that a federal district court judge in New York recently found…

It was a rough start to the historically weak month of September on Wall Street. Economic growth concerns and investor trepidation ahead of Tuesday’s presidential debate and the Federal Reserve’s policy meeting later in the month sank the market. For the week: The S & P 500 gave back over 4% in its worst weekly performance in a year; the Nasdaq plunged more than 5.5%; and the Dow Jones Industrial Average dropped roughly 3%. The sharp selling Friday was partly due to Club name Broadcom ‘s 10% post-earnings stock decline. The chipmaker beat on the quarter but disappointed with guidance…