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Investors should pray for a mild recession from the Fed’s aggressive interest rate hikes, according to Harvard University professor of economics and author Ken Rogoff, because it could get much worse. “The dollar is very strong, and interest rates are rising very fast,” Rogoff said on Yahoo Finance Live (video above). “So I think the idea that it’s going to be a really mild recession, if that, would be lucky. I’d say it’s going to be a tough trade-off for the Fed once the numbers start… Source link

Norwegian Cruise Line (NCLH) CFO Mark Kempa doesn’t see the cruise operator taking any drastic action to pay down the debt accrued during the COVID-19 pandemic. “As we look forward over the course of the next two to three years, we have about a billion dollars a year [of debt] plus or minus that’s coming due,” Kempa said on Yahoo Finance Live (video above). “And we firmly believe, given our trajectory today, that with our existing cash on hand and our expected organic cash flow, we are going… Source link

Cherelle Griner’s most recent call with her wife, Phoenix Mercury star Brittney Griner, left her distraught. Brittney is still in prison in Russia awaiting an appeal hearing after she was first arrested in February. After Cherelle spoke with her recently, she told CBS News’ Gayle King that she cried for “two, three days straight.” “It was the most disturbing phone call I’d ever experienced,” Cherelle told CBS on Thursday. “It’s just the most still, I think, moment I’ve just… Source link

New York Yankees slugger Aaron Judge’s record-breaking home run ball hasn’t been seen since it flew into the glove of Cory Youmans on Tuesday night, sparking debate over what the fan should do with the historic memorabilia. “Our offer still stands,” Memory Lane President JP Cohen told Yahoo Finance. “It’s 2 million bucks.” The ball, which broke Roger Maris’ 61-year record for most single-season home runs in baseball’s American League, is estimated to be worth between $1.25… Source link

For the second time in two months, Ford (F) has hiked the price of its electric F-150 Lightning pickup. Although this time it’s just for the base Pro model, the price hike of around 11% sends the base model to $51,974, from $46,974 before any federal or state tax credits. In a statement, Ford said it was “adjusting the MSRP on the 2023 F-150 Lightning Pro due to ongoing supply chain constraints, rising material costs and other market factors.” Ford added that current retail order holders… Source link

Football teams are not museums. That’s something Daniel Vitale learned the hard way after he loaned the New England Patriots Hall of Fame a rare American flag autographed by Tom Brady. Vitale is suing the Patriots for allegedly ruining the autographed flag by displaying it using improper techniques, which faded the autograph and possibly reduced the value of the flag by up to $1 million. Let’s break down this case. The flag According to the suit, the autographed flag is very rare. It’s an… Source link

U.S. stocks were mixed at the start of trading Thursday after a dramatic two-day rally that kicked off the quarter fizzled. The S&P 500 edged down 0.1%, while the Dow Jones Industrial Average sank 90 points, or 0.3%. The technology-heavy Nasdaq Composite was an outlier — up a modest 0.2%. The moves early Thursday came after fresh data from the Labor Department showed a jump in the number of Americans filing for first-time unemployment insurance last week. Initial jobless claims rose sharply… Source link

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 Thursday, October 6, 2022 Today’s newsletter is by Jared Blikre, a reporter focused on the markets on Yahoo Finance. Follow him on Twitter @SPYJared. Stocks clawed back early losses Wednesday, with the Dow posting its best returns to start a quarter since 1938. Impressive, right? Traders might be tempted to think we’ve hit the low, and it’s all… Source link

Former President Donald Trump could soon return to Twitter (TWTR) now that Elon Musk has agreed to move forward with his $44 billion acquisition of the social media company. Musk has said in the past that he doesn’t agree with the lifetime ban on Trump, which Twitter enacted in early 2021 following the Jan. 6 attack on Capitol Hill. But restoring Trump’s account could pose another challenge for the platform should incendiary tweets drive advertisers away from Twitter and toward competitors… Source link

Yahoo Sports’ Charles Robinson and Charles McDonald discuss Tom Brady’s NFL swan song. Not only are the Buccaneers struggling through four weeks of the season, but Brady and his wife Gisele Bundchen have reportedly hired divorce lawyers. Hear the full conversation on the You Pod to Win the Game podcast. Subscribe on Apple Podcasts, Spotify, Stitcher or wherever you listen. Video Transcript [AUDIO LOGO] CHARLES ROBINSON: We got to talk about Brady. As much as we have avoided the whole… Source link