Author: News Room

Just how much pressure American car buyers can bear is going to be a question automotive investors will wrestle with in 2023. It feels almost impossible that the answer will end up being positive for automotive-related stocks, though the consumer’s resilience up to this point has been something to behold. The percentage of people paying $1,000-plus a month for their personal transportation hit a record in the first quarter: 16.8% of consumers who financed a new vehicle are paying four-digit figures, according to auto industry data provider Edmunds. That compares with 15.7% in the fourth quarter of 2022 and 10.3%…

U.S. stock indexes traded mostly higher on Tuesday as investors cautiously looked ahead to March’s inflation data due Wednesday that could determine the Federal Reserve’s next interest-rate move, as well as to the start of the corporate earnings reporting season on Friday. How are stock indexes trading The S&P 500 SPX, +0.30% rose 14 point, or 0.4%, to 4,123 Dow Jones Industrial Average DJIA, +0.53% added 176 points, or 0.5%, to 33,763 Nasdaq Composite COMP, -0.12% dropped 3 points, or less than 0.1%, to 12,081 On Monday, the Dow Jones Industrial Average rose 101 points, or 0.3%, to 33,587, the…

One day after China simulated “joint precision strikes” on Taiwan during military exercises around the island, Taiwan’s Foreign Minister Joseph Wu condemned Beijing’s actions in an exclusive interview with CNN and warned that “they seem to be trying to get ready to launch a war against Taiwan.” “Look at the military exercises, and also their rhetoric, they seem to be trying to get ready to launch a war against Taiwan,” Wu said. “The Taiwanese government looks at the Chinese military threat as something that cannot be accepted and we condemn it.” Asked if Taiwan has any sense of the timing…

A debate is emerging among top Federal Reserve officials about whether to plough forward with another interest rate increase amid diverging opinions over the magnitude of a potential credit crunch stemming from the recent banking turmoil. Austan Goolsbee, president of the Chicago Fed, called for “prudence and patience” in setting monetary policy, in prepared remarks ahead of a speech at the Economic Club of Chicago, saying it was unclear how much regional banks might pull back on lending following the implosion of Silicon Valley Bank and Signature Bank last month.“Given how uncertainty abounds about where these financial headwinds are going,…

In 2022, Euronav NV (NYSE:EURN) reported revenue of $855 million, up 104% YoY, driven by hiked spot rates. According to Figure 1, EURN’s VLCC average spot rate increased from $11300/d in 2021 to $27600/d in 2022. Also, its Suezmax spot rate increased from $11100/d in 2021 to $31200/d in 2022. It is important to know that EURN’s VLCC 2022 average time charter rate which didn’t change so much compared to 2021, was 55% higher than its VLCC average spot rate. The company’s loss of $339 million in 2021 turned into a profit of $203 million in 2022. Considering the net…

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The digital space is growing exponentially, with major hype geared toward the artificial intelligence (AI) industries. However, the metaverse has emerged as the latest thriving sector for enthusiasts, investors, businesses, and analysts from diverse communities. Among a large list of metaverse projects competing for attention is RobotEra, an immersive web3-powered gaming platform.This unique gaming project integrates the metaverse capabilities as it gradually permeates several aspects of real life, incorporating physical experiences that blend with the virtual world. RobotEra continues to create a seamless digital space for members to interact and enjoy thrilling gaming experiences more inherently. However, there’s more to this cutting-edge project. Growing Adoption…

Leon Levine, who built Family Dollar into a discount retail giant catering to America’s lower-income and middle-class shoppers, has died at 85. The Leon Levine Foundation, the philanthropic organization Levine later founded, confirmed in an online statement he died on April 5. No cause was listed. Levine, a college dropout, was one of several retail founders who ushered in a boom of stores selling low-cost goods. Discount stores have thrived in recent decades as the income gap in the United States has widened. Three dollar store chains — Dollar General, Dollar Tree and Family Dollar — are now the fastest-growing…

Google announced that starting Tuesday it’s adding more than 800 free channels to its Google TV app on the Chromecast streaming device and select TVs made by Sony, CL, Hisense and Philips.Google’s aggregation of several existing free TV services like Fox’s Tubi, Paramount Global’s Pluto TV and Haystack News is a move to differentiate its streaming operating interface from competitors, including Roku, Apple and Amazon. And it may help attract people to Google’s platform who otherwise don’t want to pay for streaming services.The Alphabet unit said it is integrating free channels into the “Live” tab where users will see content…

Manhattan District Attorney Alvin Bragg on Tuesday filed a federal lawsuit seeking to block a House Judiciary Committee subpoena issued last week to a former prosecutor who played a key role in Bragg’s criminal investigation of ex-President Donald Trump.Bragg’s suit escalates a battle that began when the Judiciary Committee Chairman Jim Jordan, R-Ohio, and other Trump allies in the House recently opened an inquiry into the D.A.’s prosecution of Trump.The suit calls that inquiry an “unprecedently brazen and unconstitutional attack by members of Congress on an ongoing New York State criminal prosecution and investigation of former President Donald J. Trump.”The…