[ad_1] WASHINGTON – The Federal Reserve on Wednesday enacted its first interest rate cut since the early days of the Covid pandemic, slicing half a percentage point off benchmark rates in an effort to head off a slowdown in the labor market.With both the jobs picture and inflation softening, the central bank’s Federal Open Market Committee chose to lower its key overnight borrowing rate by a half percentage point, or 50 basis points, affirming market expectations that had recently shifted from an outlook for a cut half that size.Outside of the emergency rate cuts during Covid, the last time the…
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[ad_1] Image source: Unilever plc Unilever (LSE: ULVR), the consumer goods giant, is poised for a potentially transformative move as it contemplates spinning off its £15bn ice cream business. This strategic decision, which would include renowned brands such as Magnum, Wall’s, and Ben & Jerry’s, has sparked considerable interest among investors. A strong year The shares are trading just under the £50 mark, reflecting a robust market capitalisation of £123.19bn. The company’s price-to-earnings (P/E) ratio stands at 19.77 times. This indicates that investors are willing to pay a premium for the shares compared to some of its industry peers. This…
[ad_1] Federal Reserve Board Chairman Jerome PowellKevin Dietsch/Getty ImagesTraders see heightened odds of a big initial rate cut from the Federal Reserve this week.As markets price in rising odds of a 50 basis point cut, the Fed may be more likely to deliver, BMO’s Ian Lyngen says.He says markets pricing an 80% chance of a big rate cut could sway the Fed. Odds currently stand at 63%.Investors have been pricing in rising odds of a 50 basis point interest rate cut from the Federal Reserve.And as the market increasingly positions for a jumbo cut, the Fed may be more likely…
[ad_1] The Cupra Ateca, once a prominent player in the compact crossover market, has seen its star wane in recent years. While it’s a beloved model among enthusiasts, the aging design has made it less competitive. However, the digital world has brought a glimmer of hope with the unofficial debut of its successor. Digimods Design has crafted a stunning rendering of the potential 2026 Cupra Ateca, a model that seamlessly blends the familiar silhouette of its predecessor with a modern, sporty aesthetic. The front end hints at a Porsche Macan influence, but upon closer inspection, the Ateca’s identity remains intact.…
[ad_1] Check back for updates throughout the trading dayU.S. stocks were muted in mid-day Wednesday trading, while moves in the dollar and the Treasury bond market reflected indecision amongst global investors as to how the Federal Reserve is likely to execute its first rate cut in more than four years later today.Updated at 1:05 PM EDTCoin flipStocks are holding onto modest gains heading into the final hour prior to the Fed’s September rate decision in Washington, with the S&P 500 rising 6 points, or 0.11% and the Nasdaq up 23 points, or 0.13%Trading in the interest rate markets, meanwhile, suggests…
[ad_1] Mesirow Financial Investment Management Inc. lowered its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 23.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 704 shares of the network technology company’s stock after selling 214 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Palo Alto Networks were worth $239,000 as of its most recent filing with the Securities and Exchange Commission. A number of other hedge funds and other institutional investors have also recently added to or…
[ad_1] Intel’s (NASDAQ: INTC) stock price collapse at the start of August on news out of its earnings report wasn’t a big surprise. The chipmaker had fallen behind after years of operating a money-losing foundry business, while fabless rivals, like Advanced Micro Devices, have gained market share.Intel has long dominated the PC processor business, but a cultural aversion to risk-taking prevented the company from extending that leading position into other areas. It missed the mobile transition and now seems to be falling behind in artificial intelligence (AI).The company even lost Apple as a customer for its Macs after Apple experienced…
[ad_1] MSI has outed its new X870 and X870E motherboards for AMD AM5 processors, including the new Ryzen 9000-series chips. The big news is ATX 3.1 support and a big boost in PCIe power supply.MSI says the boards’ new supplemental PCIe Power feature delivers a major boost in overall board and GPU power supply. That could well come in handy, what with expectations of ever greater power draw from upcoming GPUs, particularly Nvidia graphics cards like the rumoured 550 W RTX 5090.The power boost comes courtesy of an integrated 8-pin PCIe power connector on the motherboard itself. Conceptually, it’s a…
[ad_1] From the Dispatch Politics on The DispatchHappy Wednesday! Election Day is 48 days away. Iowa Sen. Joni Ernst brought a prop to the GOP Senate leadership press conference Tuesday, a board game entitled “Kamala’s Twister,” complete with a spinner.Up to SpeedVice President Kamala Harris participated in a 45-minute interview with the National Association of Black Journalists on Tuesday in which she spoke about her economic plan and condemned former President Donald Trump for spreading baseless claims of migrants eating pets in Springfield, Ohio. Tonya Mosley of NPR, Eugene Daniels of Politico, and Gerren Keith Gaynor of theGrio pressed her…
[ad_1] Former senior civil servant Sue Gray, who became a household name as the Partygate investigator, is at the centre of fresh controversy over the revelation she is paid more than her boss – the prime minister.Ms Gray’s critical report into lockdown gatherings in Downing Street prompted numerous Conservative MPs to call on Boris Johnson to resign and contributed to his downfall in 2022.When it emerged the following year that Sir Keir Starmer had approached her to advise Labour on the challenges of moving from opposition to government, some Tory MPs were incensed and said it undermined her report.With Labour…