(Bloomberg) — Microsoft Corp. unveiled a new $60 billion stock-buyback program, matching its largest-ever repurchase authorization, and raised its quarterly dividend 10%.Most Read from BloombergThe software company said shareholders as of Nov. 21 will receive a quarterly dividend of 83 cents a share, compared with the current 75 cents. The share repurchase agreement, which has no expiration date, replaces a $60 billion buyback program announced in 2021.Microsoft, the world’s second-most valuable company, has benefited in the past several years from market exuberance for artificial intelligence. The software maker has infused its product line with AI technology from partner OpenAI and…
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The Dodge Colt, a subcompact car sold by Dodge from 1971 to 1994, was a rebadged Mitsubishi Galant and Lancer initially. It was a response to the growing popularity of small, inexpensive cars like the AMC Gremlin, Ford Pinto, and Chevrolet Vega. Despite its Japanese origins, the Colt struggled to compete with other Japanese models like the Toyota Corolla, Honda Civic, and Datsun 1200. Over its seven generations, the Colt’s body styles varied from coupes and sedans to hatchbacks and vans. The first few generations were larger and more luxurious, but as the 1980s progressed, the Colt became smaller and…
Two car restoration experts recently rescued a 1961 Plymouth Sport Suburban from a Pennsylvania garage where it had been languishing for four decades. The car was in dire straits, having been neglected for so long. Despite the challenges, the experts were determined to bring it back to life. They towed the car to their workshop and immediately began the arduous task of restoring it. A key question on everyone’s mind was whether the car’s 318 cubic-inch V8 engine would still function after so many years of inactivity. The experts were hopeful but cautious, knowing that the engine might have suffered…
By Jonathan Allen, Brad Brooks and Andrew Hay (Reuters) -Ryan Routh, the man who authorities allege carried out an apparent attempted assassination on former President Donald Trump, has a lengthy criminal history and connections to the war in Ukraine. Routh, 58, was charged with two gun-related crimes in a federal court in Florida on Monday, a day after he was spotted with a rifle hiding in shrubbery on the property line of Trump’s golf course. More charges are expected. Officials have not cited any possible motives. One of Routh’s sons described him as a loving father. North Carolina voting records…
A Houstonian with a penchant for performance cars recently acquired a used 2019 Cadillac CTS-V. Not content with its factory tuned capabilities, he sought to raise its power and handling. With a specific goal in mind outperforming his brother’s CT5-V Blackwing he entrusted his vehicle to the experts at Late Model Racecraft. The CTS-V, already a formidable machine with its supercharged 6.2-liter V8 engine, was a promising foundation for the ambitious project. The tuning firm, renowned for its expertise in high performance Cadillac models, was eager to unleash the vehicle’s full potential. Houstonian’s 850HP Cadillac CTS-V Custom Tuned (Late Model…
European stock markets extended gains, gold hit a record high and the dollar fell on Friday ahead of an expected US interest-rate cut next week.More data this week suggesting the Federal Reserve was winning the battle against inflation provided an extra kick for global equities after recent drops caused by worries of a possible US recession.Asia’s main stock markets diverged as they closed out the week, while Wall Street advanced Thursday.While concerns linger over last week’s big miss on US jobs creation, traders are turning their attention to the central bank decision next Wednesday.“Gold prices are once again at record…
Shreveport councilmembers James Green, Tabatha Taylor and Grayson Boucher penned a letter on Monday, emphasizing the necessity of relocating the police department due to the subpar state of the Shreveport Police Station.The letter comes just days after LSU Health Shreveport announced that it would be opening a new research facility in the old Sears building at Mall St. Vincent, a site which had been considered for a new police station.For the last five years the Shreveport Police Station located at 1234 Texas Avenue has increasingly come under scrutiny for its poor condition, which pose significant health and safety risks to…
Hyundai Motor America has initiated a recall affecting 54,647 vehicles due to a potential fuel pump failure. The issue, stemming from faulty engine control module software and a high pressure fuel pump design flaw, can lead to loss of drive power. The recall was prompted by multiple complaints from customers both domestically and internationally, highlighting the importance of vehicle safety and timely recalls. Hyundai discovered the problem after receiving reports of vehicles experiencing unexpected loss of drive power. Upon investigation, engineers identified two primary causes: faulty engine control module software and a design flaw in the high pressure fuel pump.…
A lucrative trade that offered hedge funds a way to ratchet up profits on Chinese debt instruments is starting to lose its charm.Data due this week may show a popular strategy – which had resulted in a fourfold increase in foreigners’ holdings of Chinese bank notes over the past year – has lost momentum in August, analysts said.The trade involves overseas investors lending out their dollars in return for the yuan and using the proceeds to buy short-term bonds. Returns on the strategy have dwindled due to a lower demand for foreign-exchange in the swaps market.The development is significant because…
Joa_Souza/iStock Unreleased via Getty Images Petrobras (NYSE:PBR) CFO Fernando Melgarejo said the company’s next five-year business plan will contain “realistic” spending levels and possibly include an increase in how much debt the company can take on, Bloomberg reported Monday. The CFO said ongoing discussions about the 2025-29 business plan – likely to be released in November – include cash levels, investments, and a potential boost in the total debt ceiling of $65B, one of the conditions for dividend payments, but “if there is an increase in the debt ceiling it doesn’t mean we’re going to increase the debt. It would…