Author: News Room

The judge overseeing Dominion Voting Systems’ massive defamation case against Fox News said Wednesday that he plans to appoint an outside attorney to investigate whether the right-wing network lied to the court to withhold key evidence, after repeatedly expressing exasperation and frustration with Fox’s attorneys. “I am very concerned… that there have been misrepresentations to the court. This is very serious,” Delaware Superior Court Judge Eric Davis said Wednesday at a pretrial hearing in Wilmington. The extraordinary move, on the brink of the trial starting next week, is the latest blow to Fox News as it tries to fend off…

Warner Bros. Discovery on Wednesday unveiled its new blended streaming service of HBO Max and Discovery+, called “Max.”Warner Bros. Discovery executives have been planning to combine HBO Max and Discovery+ for more than a year as part of the rationale for merging Discovery Communications and WarnerMedia, which was divested from AT&T in April 2022. The new service will launch on May 23. “Max is the one to watch, because it’s home to shows that have a supersized effect on people and culture,” Zaslav said during a presentation in Burbank, California. “It’s streaming’s version of must-see TV.” The new streaming platform…

Juul will pay $462 million to settle claims by six states and Washington D.C. that the vaping company marketed its addictive e-cigarettes to underage teens, five Democratic attorneys general announced Wednesday.The agreement is the largest multi-state settlement the company has reached to date, the attorneys general said during a press conference. The deal will impose strict limits on Juul’s sales and marketing abilities, and will force Juul to secure its products behind retail store counters and verify the age of purchasers, the officials added. The states that reached the settlement with Juul are New York, California, Massachusetts, New Mexico, Illinois…

Shares of real estate investment trust (REIT) American Tower (AMT) were last seen 0.9% higher at $212.29, and pacing for their sixth-straight daily win. The equity has added nearly 15.5% over the last six months, and now sports a fractional year-to-date lead. However, traders shouldn’t get excited just yet, as AMT is now trading near a trendline with historically bearish implications. Specifically, American Tower stock is within one standard deviation of its 160-day moving average. According to data from Schaeffer’s Senior Quantitative Analyst Rocky White, the security saw six similar signals over the last three years, and was lower one…

Key News Asian equity markets were mixed on light volumes in advance of today’s US CPI print. Overnight was a Tale of Two Chinas: Onshore (Mainland/domestic investors) versus Offshore (Hong Kong-US ADRs/foreign investors), as both performance and volume diverged. Mainland China investors cheered yesterday’s economic release with small gains on high volumes while Hong Kong fell on light volumes. China’s credit expansion will be a driver of economic growth, while M2 provides a nice tailwind for stocks. Brazil’s President Lula will visit China next week following French President Macron’s visit last week. Australia and China have made some baby steps…

By Leika Kihara TOKYO (Reuters) – New Bank of Japan Governor Kazuo Ueda’s main challenge will be to phase out yield curve control (YCC), which has come under criticism for distorting markets by keeping long-term interest rates from rising. Under YCC, the BOJ targets short-term interest rates at -0.1% and the 10-year government bond yield at 0.5% above or below zero, in an effort to sustainably achieve 2% inflation. Here is how Japan’s YCC works and its potential pitfalls. WHY YCC? After years of huge bond buying failed to fire up inflation, the BOJ cut short-term rates below zero in…

By Bianca Flowers (Reuters) – Colorado farmers will be able to legally fix their own equipment next year, with manufacturers like Deere (NYSE:) & Co obliged to provide them with manuals for diagnostic software and other aids, under a measure passed by legislators in the first U.S. state to approve such a law. The Consumer Right to Repair Agriculture Equipment Act passed 46-14 in Colorado’s Senate late on Tuesday, after winning approval in the state House of Representatives in February. The bill garnered bipartisan support as farmers grew increasingly frustrated with costly repairs and inflated input prices denting their profits.…

DoubleVerify an attractive opportunity, risk/reward profile favorable for long-term investors – William Blair By Sam Boughedda William Blair analysts believeDoubleVerify Holdings Inc (NYSE:) has “massive TAMS ahead,” and the multiple growth drivers for the company “underscore an attractive opportunity” for the company in 2023 and beyond. The analysts, who have an Outperform rating on the stock, explained that the firm thinks DoubleVerify has “meaningfully grown its total addressable market (TAM) over the past 12 to 18 months” as the company has expanded its platform and unlocked new revenue opportunities in large connected TV providers and social networks. “In CTV, the…

U.S. stock indexes were struggling for direction midsession Wednesday, after giving back an early bounce, on March consumer price index data showing inflation though slowing is still elevated. How stock indexes are trading On Tuesday, the Dow Jones Industrial Average rose 98 points, or 0.29%, to 33,685, the S&P 500 closed less than a point lower at 4,108.94, and the Nasdaq Composite dropped 52 points, or 0.43%, to 12,032.What’s driving markets The… Read the full article here

The slowdown in the housing market hasn’t spared the super-rich. From the ritzy suburbs of Beverly Hills to the glitzy Manhattan skyline, luxury real-estate has felt the heat from the broader sector’s weakness. Particularly with mortgage interest rates double where they were last year and the flow of new listings slowing, ultra-luxury real-estate has taken a hit, Mauricio Umansky, a Los Angeles-based real-estate entrepreneur and TV reality-show personality, told MarketWatch.  “The… Read the full article here