Latest news with #AmericanMobilityGround
Yahoo
17-02-2025
- Business
- Yahoo
EU Plans Simpler State-Aid Rules to Help Boost Clean Investment
(Bloomberg) -- The European Union is planning simpler, targeted state-aid rules to encourage clean tech investments and boost the region's industrial competitiveness against the US and China. Can Portland Turn a Corner? Why American Mobility Ground to a Halt SpaceX Bid to Turn Texas Starbase Into City Is Set for Vote in May Saudi Arabia's Neom Signs $5 Billion Deal for AI Data Center Cutting Arena Subsidies Can Help Cover Tax Cuts, Think Tank Says The European Commission, the bloc's executive arm, is due to unveil the Clean Industrial Deal on Feb. 26. It will be accompanied by a new state-aid framework setting out how member countries can design measures to support the twin objectives of decarbonizing production and better positioning industry against global rivals, according to a draft document seen by Bloomberg News. The plan, discussed as the EU grapples with stubbornly high energy prices, puts at member states' disposal grants, tax advantages, subsidized loan and other tools. The goal is to accelerate the deployment of renewable energy and ensure sufficient manufacturing capacity of clean technologies. To attract more private capital from risk-averse investors such as pension funds and insurers, the new rules would offer member states a possibility of de-risking of investments in portfolios or projects, according to the document, which may change before formal adoption. The commission has a policy of not commenting on draft measures. National governments would also be able to introduce tax incentives in the form of accelerated depreciation for the acquisition of clean-tech assets. Projects that would qualify for investment aid include the production of biofuels, biogas, renewable fuels of non-biological origin, and electricity storage, as well as mature technologies such as solar, wind and hydropower. The framework will include detailed criteria for granting the aid. In some cases, member states also would be able to aid industrial decarbonization in the form of investments in carbon capture equipment. Japan Perfected 7-Eleven. Why Can't the US Get It Right? Elon Musk's DOGE Is a Force Americans Can't Afford to Ignore How Silicon Valley Swung From Obama to Trump How Oura's Smart Ring Bridged the Gap From Tech Bros to Normies The Game Changer: How Ely Callaway Remade Golf ©2025 Bloomberg L.P. Sign in to access your portfolio
Yahoo
16-02-2025
- Business
- Yahoo
Bonds Rally as Weak Retail Sales Bolster Fed Bets: Markets Wrap
(Bloomberg) -- The bond market ended the week with solid gains as a soft reading on retail sales revived bets on Federal Reserve rate cuts. Progressive Portland Plots a Comeback Why American Mobility Ground to a Halt How to Build a Neurodiverse City SpaceX Bid to Turn Texas Starbase Into City Is Set for Vote in May A Filmmaker's Surreal Journey Into His Own Private Winnipeg A rally in Treasuries pushed the 10-year yield below 4.5%, with the bond notching its fifth straight week of gains — the longest run since 2021. Money markets are back to fully pricing in a first Fed reduction by September. The S&P 500 hovered near its all-time highs. The dollar hit a fresh low for 2025. US retail sales slumped in January by the most in nearly two years, indicating an abrupt pullback by consumers after a spending spree in the closing months of 2024. The value of retail purchases, not adjusted for inflation, decreased 0.9% after an upwardly revised 0.7% gain in December. 'The consumer sentiment report showed people were getting nervous and today's weak retail sales number confirmed it,' said David Russell at TradeStation. 'However, the resulting slack is good news for the Fed and tilts the balance a little bit more toward rate cuts.' At Interactive Brokers, Jose Torres says the weak consumption report is reopening the door to a potential Fed reduction this summer, a prospect that was dampened by a 'piping hot' inflation print earlier this week. The S&P 500 was little changed. The Nasdaq 100 added 0.4%. The Dow Jones Industrial Average fell 0.4%. US markets will be closed Monday for Presidents' Day. Meta Platforms Inc. rose for a 20th consecutive session. Dell Technologies Inc. jumped on news it's near an over $5 billion server deal for Elon Musk's xAI. Intel Corp. fell Friday, but closed with its best week since 2000. The yield on 10-year Treasuries declined five basis points to 4.48%. The Bloomberg Dollar Spot Index fell 0.3%. 'Consumers pulled back hard on spending after a generous holiday season, but they were still willing to open their pocketbooks when it came to dining out,' said Ellen Zentner at Morgan Stanley Wealth Management. 'This suggests households remain confident in the economy even as policy uncertainty has risen.' To Gary Schlossberg at Wells Fargo Investment Institute, evidence of slowing activity isn't enough to offset recent signs of firming inflation and shift expectations back to an early rate cut by the Fed. 'Are consumers taking a break?' said Bret Kenwell at eToro. 'Investors should be careful not to extract too much meaning from one data point. However, weaker retail sales amid increasing or stubbornly high inflation is a burden for US consumers and companies. It's too early to call it a trend, but if that trend were to develop, it would be a troubling sign.' Will Compernolle at FHN Financial says he's skeptical the report signals a true inflection point in consumer spending. Paired with an 'overzealous reaction' to Thursday's producer price index, bonds have moved into 'overbought territory,' he said. 'The positive scenario from today's data is this: rates ease as the economy moderates and the consumer weakness is a blip that doesn't impact investors' love affair with stocks,' said Steve Sosnick at Interactive Brokers. 'The flipside is a much worse scenario: the consumer and the government both slam their wallets shut, impacting GDP faster than the Fed is willing or able to operate.' Faster inflation in the US could end up being a 'blessing in disguise' for financial markets because it will force President Donald Trump to opt for smaller trade tariffs, according to Bank of America Corp's Michael Hartnett. The strategist recommended buying bonds, saying that the 30-year Treasury yield likely reached a multi-year high of about 5% in January. The yield was trading near 4.7% on Friday. Hartnett also reiterated his preference for international equities over US stocks. 'Bond yields have certainly bounced around this week, and the fact that they've been able to come back down played a big role in yesterday's strong rally in the stock market,' said Matt Maley at Miller Tabak. 'However, this seemed to have more to do with the inflation issue than with the war or with tariffs.' Given that the stock market has been range-bound for almost three months now, any meaningful upside breakout of this range will be quite positive on a technical basis, Maley concluded. An analysis conducted by Goldman Sachs Group Inc. shows that the market has been more micro-driven than average since the start of 2023. During the last six months, 74% of the typical S&P 500 stock's returns have been driven by company-specific rather than 'macro' factors vs. an average of 58% over the past two decades. 'We expect the current micro-driven environment will persist in 2025,' said the Goldman strategists led by David Kostin. Among the factors, they said economic forecasts point to a healthy growth environment this year; continued artificial-intelligence development and adoption should create differentiation across stocks; elevated policy uncertainty also suggests elevated dispersion. 'Debates over trade, tax, fiscal, and other policies represent potential catalysts for additional return dispersion,' they noted. 'A 'micro-driven' market creates opportunity for active managers.' Corporate Highlights: Airbnb Inc. issued an upbeat forecast for the first three months of 2025, citing 'continued strong demand' after a bustling holiday travel season. Applied Materials Inc., the largest US maker of chip-manufacturing equipment, issued a lukewarm revenue forecast for the current period, citing the risk of export controls crimping its business. Coinbase Global Inc. said revenue more than doubled and profit increased more than forecast during last quarter's Trump-inspired rally in digital assets. Dell Technologies Inc. is in advanced stages of securing a deal worth more than $5 billion to provide Elon Musk's xAI with servers optimized for artificial-intelligence work. DraftKings Inc. reported fourth-quarter earnings that beat expectations and raised its sales guidance for the current year. Moderna Inc. recorded a quarterly loss as vaccine sales waned and the company had an unexpected charge for a canceled manufacturing contract. Palo Alto Networks Inc. issued a disappointing earnings outlook for the current quarter, despite rivals including Fortinet Inc. and Check Point Software Technologies Ltd. posting strong results. Roku Inc., the streaming-video platform company, reported fourth-quarter results that beat expectations. SoundHound AI Inc., Serve Robotics Inc. and Nano-X Imaging Ltd. tumbled after Nvidia Corp. filed a 13F indicating that the chipmaker exited its stakes in the companies. Taiwan Semiconductor Manufacturing Co. is considering taking a controlling stake in Intel Corp.'s factories at the request of Trump administration officials, a person familiar with the matter said, as the president looks to boost American manufacturing and maintain US leadership in critical technologies. Some of the main moves in markets: Stocks The S&P 500 was little changed as of 4 p.m. New York time The Nasdaq 100 rose 0.4% The Dow Jones Industrial Average fell 0.4% The MSCI World Index was little changed Bloomberg Magnificent 7 Total Return Index rose 0.4% The Russell 2000 Index was little changed Currencies The Bloomberg Dollar Spot Index fell 0.3% The euro rose 0.2% to $1.0491 The British pound rose 0.2% to $1.2586 The Japanese yen rose 0.3% to 152.32 per dollar Cryptocurrencies Bitcoin rose 0.7% to $97,156.73 Ether rose 2.2% to $2,726.16 Bonds The yield on 10-year Treasuries declined five basis points to 4.48% Germany's 10-year yield advanced one basis point to 2.43% Britain's 10-year yield advanced one basis point to 4.50% Commodities West Texas Intermediate crude fell 0.8% to $70.72 a barrel Spot gold fell 1.5% to $2,884.89 an ounce This story was produced with the assistance of Bloomberg Automation. --With assistance from John Viljoen, Sagarika Jaisinghani, Margaryta Kirakosian, Julien Ponthus and Divya Patil. The Undocumented Workers Who Helped Build Elon Musk's Texas Gigafactory The Unicorn Boom Is Over, and Startups Are Getting Desperate The NBA Has Fallen Into an Efficiency Trap Japan Perfected 7-Eleven. Why Can't the US Get It Right? How Silicon Valley Swung From Obama to Trump ©2025 Bloomberg L.P. Sign in to access your portfolio
Yahoo
15-02-2025
- Business
- Yahoo
Trump Media Losses Surge as It Hands Staff $107 Million in Stock
(Bloomberg) -- Trump Media & Technology Group Corp. rewarded employees with more than $107 million in stock last year as revenue declined and it posted a $401 million loss. Progressive Portland Plots a Comeback Why American Mobility Ground to a Halt SpaceX Bid to Turn Texas Starbase Into City Is Set for Vote in May Saudi Arabia's Neom Signs $5 Billion Deal for AI Data Center Cutting Arena Subsidies Can Help Cover Tax Cuts, Think Tank Says The company, which runs Truth Social, ended December with 29 full-time staff, according to an annual report posted after markets closed Friday. Revenue slipped more than 12% to $3.6 million while its annual loss swelled more than six-fold. The results boosted the venture's accumulated deficit to $2.9 billion. Created from a blank-check merger in March, Trump Media's largest shareholder is President Donald J. Trump, whose stake is held in a trust managed by his son Donald Trump Jr. Despite losses, the company's shares trade akin to so-called meme stocks that move independently of underlying financial results. The price almost doubled last year as the 45th US president successfully campaigned to retake the White House. The company used $61 million in cash for its operating activities, and the majority of the overall net loss stemmed from a change in the value of a derivative liability. Trump's stake in the company was worth $3.5 billion on Friday. The Undocumented Workers Who Helped Build Elon Musk's Texas Gigafactory The Unicorn Boom Is Over, and Startups Are Getting Desperate The NBA Has Fallen Into an Efficiency Trap Japan Perfected 7-Eleven. Why Can't the US Get It Right? Elon Musk's DOGE Is a Force Americans Can't Afford to Ignore ©2025 Bloomberg L.P. Sign in to access your portfolio
Yahoo
15-02-2025
- Business
- Yahoo
Trump DOJ Asks Judge to Toss Case Against NYC Mayor Eric Adams
(Bloomberg) -- Justice Department lawyers asked a judge to dismiss the corruption case against New York City Mayor Eric Adams, carrying out an order that several other prosecutors had refused. Progressive Portland Plots a Comeback Why American Mobility Ground to a Halt SpaceX Bid to Turn Texas Starbase Into City Is Set for Vote in May Saudi Arabia's Neom Signs $5 Billion Deal for AI Data Center Cutting Arena Subsidies Can Help Cover Tax Cuts, Think Tank Says The Friday filing in Manhattan federal court capped off a tumultuous week for the Justice Department, which began with Acting US Deputy Attorney General Emil Bove ordering Manhattan's chief federal prosecutor, Danielle Sassoon, to drop the Adams case. Sassoon resigned rather than carry out the directive, and Justice Department officials asked to take over the case also stepped down. In a Wednesday letter to Attorney General Pam Bondi, she raised concerns that the decision to drop the case amounted to an improper quid pro quo to get Adams to support President Donald Trump's immigration policies. US District Judge Dale Ho must now decide whether to grant the motion. Sassoon said in her letter that she thought it was likely that Ho would conduct a thorough investigation of the Justice Department's handling of the case and that he might deny the motion as improper. The Undocumented Workers Who Helped Build Elon Musk's Texas Gigafactory The Unicorn Boom Is Over, and Startups Are Getting Desperate The NBA Has Fallen Into an Efficiency Trap Japan Perfected 7-Eleven. Why Can't the US Get It Right? Elon Musk's DOGE Is a Force Americans Can't Afford to Ignore ©2025 Bloomberg L.P.
Yahoo
14-02-2025
- Business
- Yahoo
Texas Oil Export Port to Get Trump Team's Blessing, Duffy Says
(Bloomberg) -- Transportation Secretary Sean Duffy said the Trump administration planned to 'move forward' with approval of a Texas port capable of shipping 1 million barrels of oil a day proposed by Sentinel Midstream LLC. Progressive Portland Plots a Comeback Why American Mobility Ground to a Halt SpaceX Bid to Turn Texas Starbase Into City Is Set for Vote in May Saudi Arabia's Neom Signs $5 Billion Deal for AI Data Center Cutting Arena Subsidies Can Help Cover Tax Cuts, Think Tank Says The project, first proposed in 2019 and known as the Texas GulfLink Deepwater Port, has been awaiting a final authorization from the Transportation Department's Maritime Administration. 'That was held up for five years, and it was stonewalled. Bureaucrats got in the way, and now we are moving forward with that,' Duffy told reporters Friday in the Oval Office, where he joined President Donald Trump for the signing of an executive order creating a new council to steer US energy policy. 'We are going to move forward with a permitting process for the Texas GulfLink Deepwater Port,' he added. Duffy cast the port as important to 'making sure we can move energy in and out of the country.' The project, proposed off the coast of Brazoria County, Texas, would allow oversized oil tankers known as very large crude carriers, or VLCCs, to load as much as 85,000 barrels of crude oil an hour. Gulflink and similar oil terminals have faced increasing objections from environmental activists, who pressured former President Joe Biden to halt those projects arguing that they're incompatible with environmental justice and fighting climate change. GulfLink alone would be responsible for more than 100 million tons of upstream and downstream greenhouse gas emissions per year, according to Earthworks, an environmental group opposed to the project. Still, Biden's Environmental Protection Agency authorized the Texas GulfLink project in October and his administration last April signed off on a similar nearby export facility by Enterprise Products Partners LP with the capacity to export 2 million barrels of oil a day. The Undocumented Workers Who Helped Build Elon Musk's Texas Gigafactory The Unicorn Boom Is Over, and Startups Are Getting Desperate The NBA Has Fallen Into an Efficiency Trap Japan Perfected 7-Eleven. Why Can't the US Get It Right? Elon Musk's DOGE Is a Force Americans Can't Afford to Ignore ©2025 Bloomberg L.P.
