Short-Term Treasury Yields Track Toward Biggest Decline in a Year
The 2-year yield was 3.710% in recent trading, according to Tradeweb, down around 0.24 percentage point from Thursday.
On Aug. 2, 2024, the 2-year yield dropped 0.29 percentage point to roughly 3.87%.
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Yahoo
29 minutes ago
- Yahoo
Jury awards over $240 million in damages against Tesla in Autopilot crash lawsuit
A Florida jury on Friday ordered Tesla to pay hundreds of millions of dollars to the victims of a 2019 fatal crash involving its Autopilot driver assist technology. The verdict which comes after a four-year long case could encourage more legal action against Elon Musk's electric car company. A Miami jury decided that Elon Musk's car company Tesla was partly responsible for a deadly crash in Florida involving its Autopilot driver assist technology and must pay the victims more than $240 million in damages. The federal jury held that Tesla bore significant responsibility because its technology failed and that not all the blame can be put on a reckless driver, even one who admitted he was distracted by his cellphone before hitting a young couple out gazing at the stars. The decision comes as Musk seeks to convince Americans his cars are safe enough to drive on their own as he plans to roll out a driverless taxi service in several cities in the coming months. The decision ends a four-year long case remarkable not just in its outcome but that it even made it to trial. Many similar cases against Tesla have been dismissed and, when that didn't happen, settled by the company to avoid the spotlight of a trial. 'This will open the floodgates,' said Miguel Custodio, a car crash lawyer not involved in the Tesla case. 'It will embolden a lot of people to come to court.' The case also included startling charges by lawyers for the family of the deceased, 22-year-old, Naibel Benavides Leon, and for her injured boyfriend, Dillon Angulo. They claimed Tesla either hid or lost key evidence, including data and video recorded seconds before the accident. Tesla said it made a mistake after being shown the evidence and honestly hadn't thought it was there. 'We finally learned what happened that night, that the car was actually defective,' said Benavides' sister, Neima Benavides. 'Justice was achieved.' Tesla has previously faced criticism that it is slow to cough up crucial data by relatives of other victims in Tesla crashes, accusations that the car company has denied. In this case, the plaintiffs showed Tesla had the evidence all along, despite its repeated denials, by hiring a forensic data expert who dug it up. 'Today's verdict is wrong," Tesla said in a statement, 'and only works to set back automotive safety and jeopardize Tesla's and the entire industry's efforts to develop and implement lifesaving technology,' They said the plaintiffs concocted a story 'blaming the car when the driver – from day one – admitted and accepted responsibility.' In addition to a punitive award of $200 million, the jury said Tesla must also pay $43 million of a total $129 million in compensatory damages for the crash, bringing the total borne by the company to $243 million. 'It's a big number that will send shock waves to others in the industry,' said financial analyst Dan Ives of Wedbush Securities. 'It's not a good day for Tesla.' Tesla said it will appeal. Even if that fails, the company says it will end up paying far less than what the jury decided because of a pre-trial agreement that limits punitive damages to three times Tesla's compensatory damages. Translation: $172 million, not $243 million. But the plaintiff says their deal was based on a multiple of all compensatory damages, not just Tesla's, and the figure the jury awarded is the one the company will have to pay. It's not clear how much of a hit to Tesla's reputation for safety the verdict in the Miami case will make. Tesla has vastly improved its technology since the crash on a dark, rural road in Key Largo, Florida, in 2019. But the issue of trust generally in the company came up several times in the case, including in closing arguments Thursday. The plaintiffs' lead lawyer, Brett Schreiber, said Tesla's decision to even use the term Autopilot showed it was willing to mislead people and take big risks with their lives because the system only helps drivers with lane changes, slowing a car and other tasks, falling far short of driving the car itself. Schreiber said other automakers use terms like 'driver assist' and 'copilot' to make sure drivers don't rely too much on the technology. 'Words matter,' Schreiber said. 'And if someone is playing fast and lose with words, they're playing fast and lose with information and facts.' Schreiber acknowledged that the driver, George McGee, was negligent when he blew through flashing lights, a stop sign and a T-intersection at 62 miles an hour before slamming into a Chevrolet Tahoe that the couple had parked to get a look at the stars. The Tahoe spun around so hard it was able to launch Benavides 75 feet through the air into nearby woods where her body was later found. It also left Angulo, who walked into the courtroom Friday with a limp and cushion to sit on, with broken bones and a traumatic brain injury. But Schreiber said Tesla was at fault nonetheless. He said Tesla allowed drivers to act recklessly by not disengaging the Autopilot as soon as they begin to show signs of distraction and by allowing them to use the system on smaller roads that it was not designed for, like the one McGee was driving on. 'I trusted the technology too much,' said McGee at one point in his testimony. 'I believed that if the car saw something in front of it, it would provide a warning and apply the brakes.' The lead defense lawyer in the Miami case, Joel Smith, countered that Tesla warns drivers that they must keep their eyes on the road and hands on the wheel yet McGee chose not to do that while he looked for a dropped cellphone, adding to the danger by speeding. Noting that McGee had gone through the same intersection 30 or 40 times previously and hadn't crashed during any of those trips, Smith said that isolated the cause to one thing alone: 'The cause is that he dropped his cellphone.' The auto industry has been watching the case closely because a finding of Tesla liability despite a driver's admission of reckless behavior would pose significant legal risks for every company as they develop cars that increasingly drive themselves. (FRANCE 24 with AP)
Yahoo
29 minutes ago
- Yahoo
Here's one of the best shares to consider buying as Trump's trade war escalates!
Gold shares like Serabi Gold (LSE:SRB) have been among the most popular stocks to buy as President Trump's trade policy shakes market confidence. Bullion's all-time highs above $3,500 per ounce in April was struck against the backcloth of rising trade tensions. It's a trend I expect to continue. Uncertainty over US trade policy — and the impact of thumping tariffs on economic growth — are natural drivers of safe-haven assets. Gold's receiving extra support, too, from concerns that escalating tariffs will bolster inflation and reduce central banks' appetite to cut interest rates. Gold remains heavily supported by a broadly weaker dollar, uncertainty around tariff announcements and fears about a global recession. Given this situation, Serabi's share price has rocketed 152% over the past year. It's also been propelled higher by the falling US dollar and rising geopolitical tensions. But the Brazilian miner still looks cheap, leading to speculation of further price gains. Its forward price-to-earnings (P/E) ratio is just 3.5 times for 2025. It drops to 3.3 times for next year. Going for gold (stocks) Buying gold shares exposes investors to the risks and unpredictability of the mining industry. This makes it a more dangerous option than buying physical metal, or a fund that simply tracks the gold price. Serabi, which operates in Brazil but reports in US dollars, is also vulnerable to currency volatility. However, this strategy also offers exceptional opportunities to create wealth when the yellow metal surges. Serabi's all-in sustaining costs (AISC) are $1,636 per ounce. If gold prices rise further from current levels of $3,300, every extra dollar will flow straight into the bottom line. This 'leverage effect' means the miner's profits can grow much faster than the bullion price itself (though they can also fall faster when gold drops). The leverage factor partly explains why Serabi's 152% share price gain since last August has outpaced the 36% rise in metal prices. However, it's not the only reason for the company's outperformance. Serabi has also: Reported its highest quarterly production for eight years Raised its mineral resource estimate Made good progress towards more than doubling annual output by 2028 The company's earnings are tipped to rise 87% year on year in 2025. A further 5% rise is tipped for next year. A cheap share I'm considering I hold an exchange-traded fund (the L&G Gold Mining ETF) in my portfolio to capitalise on the leverage effect as gold prices rise. And given its excellent value, I'm also considering buying Serabi shares when I next have cash spare to invest. As well as that having that low P/E ratio, the miner's price-to-earnings growth (PEG) ratio of below 0.1 underlines its cheapness in relation to predicted profits. This is well under the widely accepted value water mark of one. And things remain that way for 2026, with Serabi's PEG coming in at 0.6. While it's not without risk, I think Serabi Gold could be one of the best shares to consider buying in the current climate. The post Here's one of the best shares to consider buying as Trump's trade war escalates! appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool Royston Wild has positions in Legal & General Ucits ETF Plc - L&g Gold Mining Ucits ETF. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fast Company
31 minutes ago
- Fast Company
In uncertain times purpose-driven brands have the winning edge
Whether you're sitting at your desk at work or shopping at the grocery store, you can feel it: the shared sense of uncertainty in the air. Economic indicators are shifting; tariffs have impacted trade flows, and experts predict the nation's growth rate may be cut in half. Combined with broad geopolitical instability, this sense of economic uneasiness has seen consumer sentiment dip to its second-lowest point since 1952. In this challenging climate, even industry giants like Target, Walmart, and Apple are forecasting declines in profits and sales. Yet, history shows that periods of uncertainty often spark innovation and resilience. Brands that can adapt, communicate clearly, and build trust with their customers are well positioned not just to endure, but to lead. So, what can business leaders facing such turbulence do to persevere? Return to the compass that always points to a way to growth: delivering for the consumer. Showing up consistently, adapting with purpose, and becoming the steady heartbeat in their customers' increasingly chaotic world. The Power of Purpose in Uncertain Times As a counterbalance to all the bad news, resilient brands can become a source of strength and reassurance by understanding their consumers and delivering positive impact. In times of uncertainty, brands can improve their customers' day-to-day by bringing moments of joy and meaning into their lives. What's more, they can also deepen those consumer connections by demonstrating alignment with customer values and aspirations for the future. New research supports this call to action: 86% of consumers say brands play an important role in delivering a positive human future. But only 15% of companies are actively investing in efforts aligned to that purpose, a gap that speaks volumes. Consumers are quite willing to reward brands they see as positive difference-makers. They're nearly three times more likely to pay a premium, try new products and services, and even forgive mistakes from brands they think are working towards a better world. This is especially true among Gen Z consumers and younger generations, who prioritize brands that align with their ethical and social principles. So, what does it really mean to deliver a 'positive human future,' and how can brands demonstrate the commitment consumers are seeking? It doesn't mean you have to solve every global issue—you just have to show consumers that you understand their challenges and respond in ways that align to their values. When a single headline can shake markets and communities, consumers are looking for something steady to latch onto, and brands have the opportunity to hold strong. Think Big with Small Gestures For brands, this doesn't require a complete overhaul of business strategy or major new investments. It can start with a simple challenge: how can you show up in small, meaningful ways to brighten consumers' days and give them something to look forward to? Consumers today are seeking more than transactions; they want relationships. Nearly 50% of U.S. consumers are willing to pay more for brands that understand and respond to their needs—brands that listen, learn, and use what they hear to deliver amazing experiences. Take Little Spoon, for example. The baby food company didn't build trust by making grand gestures, but instead took the time to collaborate with parents and scientists to ensure parents have a voice in their child's health. They put their money where their mouth is to provide consistent engagement with parents through its ' Is This Normal ' community platform. They created a winning product that reflects real needs and values, showing up consistently for their customers when and where they needed them. They've successfully become more than a packaged good—they're a partner in parenting, building ardent fans through shared values. To follow in similar footsteps, there are several actions brands can take, starting with active listening and reliability. By using customer insights to understand what matters most, brands can reflect those priorities in their messaging and offerings and then communicate those priorities regularly and consistently. This requires ongoing dialogue and genuine responsiveness to customer feedback and changing needs. By ensuring consumers feel seen and heard, brands will not only build a customer base but also a community. This alignment becomes particularly powerful when economic pressures mount, and consumers are making more deliberate choices about where to spend their money. Above all, it's those small moments of joy that will make all the difference. Positive experiences don't require massive budgets, but they do require intentionality. Whether it's unexpected customer service excellence, community-building initiatives, or simply consistent, reliable communication, these moments transform into lasting relationships. Building Tomorrow's Resilient Brands The businesses that struggle during volatile times often share common characteristics: They become reactive rather than proactive, focus inward rather than on customer needs, or stop innovating to avoid risk. It's more important to show up for customers during times of turbulence than when the waters are calm. Every interaction becomes an opportunity to build trust. Every product decision becomes a chance to show values alignment. Every communication becomes a moment to provide clarity and reassurance. In a world where headlines shift by the hour, brands can emerge as a steady beacon. The brands that thrive aren't necessarily the biggest or the loudest, but those that prioritize real connection with their consumers; those that are able to deliver impact in their day-to-day, and in the world they inhabit. When purse strings tighten, brands that build real relationships, spark joy in the uncertainty, and support a positive human future will build the kind of consumer loyalty that pays dividends through good times and bad.
