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This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Friday, November 18, 2022 Today’s newsletter is by Julie Hyman, anchor, and correspondent at Yahoo Finance. Follow Julie on Twitter @juleshyman. Read this and more market news on the go with Yahoo Finance App. So far, Macy’s has been one of the standouts of the retail earnings season. Its shares leaped by 15% yesterday after the department store… Source link

Federal appeals court asked state high court to weigh in on duty to defend Justices agree with Yahoo that AIG unit’s policy is ambiguous (Reuters) – The California Supreme Court backed Yahoo’s bid to revive a lawsuit against its former insurer for refusing to defend the web services provider against several class actions that accused it of sending out spam “robo-text” messages. The justices said Thursday a federal magistrate in San Jose misapplied California law in 2017, when he found… Source link

By Sheila Dang, Paresh Dave and Hyunjoo Jin (Reuters) -Hundreds of Twitter employees are estimated to be leaving the beleaguered social media company following an ultimatum from new owner Elon Musk that staffers sign up for “long hours at high intensity,” or leave. In a poll on the workplace app Blind, which verifies employees through their work email addresses and allows them to share information anonymously, 42% of 180 people chose the answer for “Taking exit option, I’m free!” A quarter said… Source link

Elizabeth Holmes, one of Silicon Valley’s most celebrated and vilified startup founders, is scheduled to appear in court in San Jose on Friday for a sentencing hearing where she’s expected to learn whether she’ll go to prison for defrauding investors out of hundreds of millions of dollars. Holmes, who was found guilty in January of three counts of wire fraud and one count of conspiracy related to her now-defunct blood-testing venture Theranos, faces up to 20 years in prison, up to $1… Source link

Billionaire hedge fund manager Bill Ackman has been urging the Federal Reserve to get serious on inflation since late last year. Now, he has doubts about the U.S. central bank’s ability to bring price stability down to its target. And thinks stock prices could remain under pressure as rates stay high amid this new environment. The Pershing Square Capital founder and CEO said Thursday in a quarterly call with investors that interest rates are “meaningfully below where they are going to… Source link

Domantas Sabonis is one of two centers to look out for in Thursday’s matchup between the Kings and Spurs. Thursday brings an odd schedule in the NBA. There are only three games, and all of them will be on the West Coast. The Trail Blazers will take on the struggling Nets, who gave up a staggering 153 points in a loss to the Kings on Tuesday. Those same Kings will also be in action, taking on the Spurs in Sacramento. The final game of the evening will feature the Clippers hosting the… Source link

With calls to regulate crypto in the wake of FTX’s meltdown increasing, one legal expert says those demands are misplaced. “When it just comes to regulation of the space in general, I know a lot of people are calling for it,” Cathy Yoon, chief legal officer at MPCH, told Yahoo Finance Live (video above). “They want immediate action, but I think at the heart of things we really have to remember this really is a fraud first, and not necessarily something that touches all of the crypto… Source link

Those advocating for a more equitable financial system suffered a serious setback last week, when revelations emerged that crypto’s so-called white knight, Sam Bankman-Fried, reportedly used customer deposits in FTX (FTT-USD), the crypto exchange he founded, to fund risky bets in Alameda, a sister company he owned. The bankruptcy of one of the world’s largest crypto exchanges and ensuing allegations around its demise have sent shockwaves across the crypto industry and shaken the… Source link

Our analysts reveal their boldest fantasy predictions for Week 11. Which will come to pass? Nice day for Nico Dalton Del Don: Nico Collins saw 10 targets during his return last week while Brandin Cooks continues to fall out of favor in Houston. Davis Mills plays far better at home, and Houston gets a Washington team traveling during a short week. The Commanders have ceded the second-most passing scores in the league but rank second against the run in DVOA, so it’s a nice setup for volume… Source link

Kohl’s (KSS) is bordering on irrelevancy, and it may stay that way for years to come, warned one veteran retail analyst. “Kohl’s is a business whose time has passed,” Jan Rogers Kniffen, CEO of J Rogers Kniffen Worldwide, said on Yahoo Finance Live (video above). “They were the rising star all through the ’80s, ’90s, and into 2000, and at that point in time they wound up with 1,150 stores in a space that probably only needed 750. and they have been mature and struggling ever since.” Those… Source link