Author: News Room

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Telegram chief executive Pavel Durov was placed under formal investigation by a French judge on Wednesday over alleged criminal activity on the messaging app, and barred from leaving France. Durov is facing preliminary charges as part of an investigation into Dubai-based Telegram’s alleged failure to address criminality on the app, including enabling money laundering, drug trafficking and the distribution of child sexual abuse content, Paris prosecutors said.One of the charges against Durov alleges “complicity in the administration of an online platform to enable…

Investment Thesis The share price of Vale S.A. (NYSE:VALE), the world’s largest iron ore producer, is down 30% year to date, from about $15.70 to $10.89 as of August 27. Declining iron ore prices, from which more than 80 percent of Vale’s revenues derive, amid uncertainty regarding future Chinese demand, have contributed to this fall. Additionally, a lengthy leadership battle, which included attempts by the government to intervene, has most likely also weighed on the share price. In the past few days, two important events have taken place. Iron ore futures (SCO:COM) have bottomed out at $98/ton – at least…

Nvidia once again beat Wall Street’s expectations when it reported earnings on Wednesday. But for a company that’s been on a stunning growth streak over the past two years, merely great numbers may no longer be enough to impress investors. The AI chipmaker — whose stock has helped power the market’s feverish rally this year — reported more than $30 billion in sales in its fiscal second quarter, up 122% from the same period a year ago, and ahead of the $28.7 billion Wall Street analysts had expected. Profits from the quarter also more than doubled to $16.6 billion, up…

Salesforce shares rose 4% in extended trading on Wednesday after the business software maker reported robust fiscal second-quarter results that beat estimates and raised its full-year profit outlook.The company also said Amy Weaver, its finance chief, will step down. She will remain at the company as the CFO until a successor is appointed and, after that, will stay on as an advisor. Salesforce will consider internal and external candidates, Marc Benioff, the company’s co-founder, chair and CEO, said on a conference call with analysts. He said it was his idea to have Weaver took over the lead financial role after…

Check out the companies making headlines in extended trading. Nvidia — The artificial intelligence chipmaker dropped 5% even after Nvidia beat expectations in its fiscal second-quarter results. Adjusted earnings per share of 68 cents exceeded the LSEG consensus estimate of 64 cents per share. Revenue of $30.04 billion exceeded the anticipated $28.7 billion. In the current quarter, Nvidia expects about $32.5 billion in revenue, more than the $31.77 billion expected by analysts, according to StreetAccount. Salesforce — The software stock advanced 3.5% after Salesforce reported better-than-expected fiscal second-quarter results and raised its full-year profit outlook. Separately, the company said president…

With summer wrapping up shortly, parents are outfitting their children for the new school year. But American households are struggling to afford back-to-school items such as backpacks, clothing, school supplies and books. This struggle is leading millions of parents to carry debt to make sure their children have what they need for school.  FINANCIAL PRESSURES ARE IMPACTING BACK TO SCHOOL SHOPPING Nearly one-third (31%) of U.S. adults doing back-to-school shopping this year will go into debt to pay for it or already have, according to Bankrate’s newest Back to School Survey.  Also, this type of spending is up from 29% in 2022.…

The Supreme Court of the United States (SCOTUS) denied the Biden administration’s request to lift a block on the Saving on a Valuable Education (SAVE) plan, which is designed to ease the burden of student loan debt for millions of borrowers. A federal appeals court in Missouri blocked the entire SAVE program from being enforced while litigation over the merits continues in the lower courts. The Department of Justice, which is part of the Biden administration, most recently asked the high court for emergency relief.The request went to Justice Brett Kavanaugh, who has jurisdiction over time-sensitive applications from Missouri. The…

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. The interest rate on a 30-year fixed-rate mortgage is 6.375% as of August 2, which is 0.125 percentage points lower than yesterday. Additionally, the interest rate on a 15-year fixed-rate mortgage is 5.625%, which is 0.250 percentage points lower than yesterday. With mortgage rates changing daily, it’s a good idea to…

By Lucy Lazarony, Next Avenue Many Americans in their 50s don’t have nearly enough savings set aside for retirement. How bad is the shortfall? According to Prudential’s 2024 Pulse of the American Retiree survey, with just a decade until the traditional retirement age, 55-year-old Americans have less than $50,000 in median retirement savings. Prudential says that is “significantly short” of the recommendation to have saved eight times one’s annual income by that age. The Bureau of Labor Statistics estimated in June that the median annual wage for U.S. workers aged 55 and older was $62,244. Eight times that amount is…

A version of this story appeared in CNN’s What Matters newsletter. To get it in your inbox, sign up for free here. If 2024 is anything like 2020 or 2016, the presidential election will be decided by relatively small margins in a handful of states. That means some local battles scattered across the country could have national importance. Here’s a round-up of some recent CNN reports, something we’ll do again as we get closer to Election Day. This is an ongoing story that has seen normally run-of-the mill meetings of the Georgia State Election Board turn into packed affairs featuring supporters…