by Bianca Flowers CHICAGO (Reuters) – The international head of United Steelworkers (USW) said on Monday the union supports North American steel producer Cleveland-Cliffs’ bid to acquire rival United States Steel Corp, adding that the company is the best strategic buyer. Cleveland-Cliffs said Sunday it has offered to buy US Steel in a cash and … Read more
The US stock market showed impressive gains in 2023, and the latest GDP number beat expectations. But according to Rich Dad Poor Dad author Robert Kiyosaki, the picture may not be as rosy as it seems. “Don’t they know that the stock market is going up because Biden raised the debt ceiling? America’s debt is … Read more
Shares of AMC (AMC) were down in early trading Monday, down nearly 40% as investors feared further dilution of their common shares. Over the weekend, a Delaware court approved a merger between AMC and AMC Preferred Stock (APE) that will make all of AMC’s outstanding shares from common stock. In addition, a reverse stock split … Read more
How much savings does the average 70-year-old have? Part of planning for retirement involves deciding how much to save and invest so you can enjoy the kind of lifestyle you want. Setting a savings goal by age can be a good way to organize your strategy and gauge how you’ll track progress toward your goals. … Read more
font size US Steel rejected an unsolicited buyout offer from rival Cleveland Cliffs. Sean Gallup / Getty Images Stock futures rose on Monday as markets faltered, adding to this year’s rally during the month of August. The focus on Wall Street this week will be the minutes of the Federal Reserve’s latest policy meeting and … Read more
What goes up must eventually come down. And in the state of the markets right now, Treasury yields are still rising and hot technology stocks are finally falling. So far this month, the Nasdaq Composite is down about 4.2%. Top tech names like Apple (AAPL) and Nvidia (NVDA) are swinging 10% lower for the month. … Read more
(Bloomberg) — China’s latest attempt to reverse stagnant foreign investment in the country includes pledges to provide better tax treatment for offshore companies and make it easier for them to obtain visas, as officials try to quell concerns about doing business in the world’s second-largest economy. . Most Read from Bloomberg The 24-point plan from … Read more
BEIJING (AP) – Asian stock markets fell on Monday after robust inflation in the United States revived fears that the Federal Reserve could raise interest rates again. Hong Kong’s main market index fell 2.4%. Shanghai, Tokyo and Sydney also fell behind. Oil prices sank. Wall Street’s benchmark S&P 500 fell 0.1% on Friday after government … Read more
(Bloomberg) — A crisis is brewing at Country Garden Holdings, formerly the largest Chinese developer, after units halted trading on domestic bonds and stocks plunged in the wake of a Morgan Stanley downgrade. Most Read from Bloomberg The developer, whose problems threaten worse repercussions than struggling peer China Evergrande Group given it has four times … Read more
(Bloomberg) — A Chinese stock index is close to erasing all the gains it made since a key political meeting in late July, as the economy struggles to gain momentum and optimism about stimulus wanes. Most Read from Bloomberg The CSI 300 Index is down 1.3% as of the midday break after falling 3.4% last … Read more