Apple enthusiasts and investors alike were excited about the launch of the Vision Pro, the company’s foray into mixed reality headsets. However, a recent analyst report by Ming-Chi Kuo casts a shadow over the product’s future. Sharp Drop in Demand: According to Kuo, Apple has significantly slashed its 2024 VisionContinue Reading
Walmart’s Fintech Play: One vs Affirm and Beyond Walmart’s fintech startup, One, is making a play for a bigger slice of the retail giant’s financial services pie. One recently launched buy now, pay later (BNPL) loans, directly challenging Affirm, Walmart’s current BNPL partner. This move signals a potential shift inContinue Reading
Red Lobster Weighs Chapter 11 Restructuring America’s favorite seafood chain, Red Lobster, might be undergoing a major financial overhaul. According to a Bloomberg report, the company is considering filing for Chapter 11 bankruptcy as part of a restructuring plan. This move aims to tackle debt and potentially renegotiate leases andContinue Reading
Defense behemoth Lockheed Martin (LMT.N) has emerged victorious in the hotly contested race for the Next Generation Interceptor (NGI) program, a multi-year, $17 billion contract awarded by the Missile Defense Agency (MDA). This win comes as a welcome shot in the arm for Lockheed after recent setbacks, including reduced F-35Continue Reading
Piedmont Lithium Gets Green Light for N.C. Lithium Mine, But Challenges Remain Piedmont Lithium (PLL.O), a supplier to Tesla (TSLA.O), has received a key permit from North Carolina regulators to develop a major lithium mine. This mine has the potential to be one of the largest sources of lithium inContinue Reading
Tesla Slashes Workforce by Over 10%, Prepares for “Next Phase of Growth” Electric vehicle giant Tesla announced a significant workforce reduction exceeding 10% globally, according to a company memo from CEO Elon Musk. The news comes amidst a backdrop of declining stock prices and production challenges. Cost Cutting and IncreasedContinue Reading
Buyout Firms Score Big As Wall Street Banks Regain Loan Market Share Companies are ditching private lenders for cheaper rates and looser terms from traditional banks. This year, a whopping $16 billion in loans have moved from private credit funds to public markets like syndicated loans and bonds. Companies likeContinue Reading
Alphabet’s stock is nearing a record $2 trillion market value, a milestone surpassed in the U.S. only by Microsoft, Apple, and Nvidia. The stock has rebounded from last month’s low, when concerns arose over the company’s AI progress. The recent cloud event demonstrated the enterprise-readiness of Alphabet’s AI model despiteContinue Reading
Jersey Mike’s Subs Considers Selling Business to Blackstone. The Wall Street Journal, citing anonymous sources, has reported that Jersey Mike’s Subs, a privately-held company, has engaged in intermittent discussions with Blackstone, a financial services firm. If a deal were to materialize, it could value Jersey Mike’s at $8 billion. However,Continue Reading
Ever wondered how many Americans bid farewell to their working days with a cool million in their retirement accounts? It’s a question that stirs curiosity and prompts reflections on financial goals and retirement planning strategies. While there’s no one-size-fits-all answer, recent surveys shed light on the financial landscape of retirees.Continue Reading
Dollar General’s decision to curb self-checkout to reduce inventory losses suggests a strategic shift in their approach to loss prevention. By limiting self-checkout, the company likely aims to enhance monitoring and control over transactions, reducing opportunities for theft or errors. This move could involve increased reliance on staff-assisted checkout, whichContinue Reading
A Fulton County judge dismissed multiple counts from the election interference indictment against former President Donald Trump and some co-defendants, focusing on Solicitation of Violation of Oath by a Public Officer. Of the 13 counts Trump faced, three were dropped, leaving him with 10. Judge McAfee agreed with the defendants’Continue Reading