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After a three-year investigation, New York Attorney General Letitia James has filed a civil lawsuit against Donald Trump, three of his children and his real-estate company, claiming they “engaged in numerous acts of fraud and misrepresentation” for at least a decade. The suit claims the Trumps knowingly and consistently overstated the value of at least 23 commercial properties, for the purpose of getting lower interest rates and cheaper insurance. James wants the family and the company… Source link

U.S. stocks slid Friday morning as fears of aggressive Federal Reserve policy had equity markets pace towards a big weekly loss and Treasury yields continue a perilous climb to fresh highs. The benchmark S&P 500 tumbled 1.2% early into the session. The Dow Jones Industrial Average plunged more than 300 points, or 1.1%, falling below the 30,000 level for the first time since June. The technology-heavy Nasdaq Composite off by 1.2%. Meanwhile, the 10-year U.S. Treasury note spiked above 3.7%,… 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 September 23, 2022 Today’s newsletter is by Julie Hyman, anchor and correspondent at Yahoo Finance. Follow Julie on Twitter @juleshyman. Who else is sick of talking about the Fed? Of course, the Federal Reserve and its battle against inflation using higher interest rates is vitally important. But I need a break. So, on to another crucial question:… Source link

(Reuters) -Goldman Sachs has cut its year-end 2022 target for the benchmark S&P 500 index by about 16% to 3,600 points, as the U.S. Federal Reserve shows little signs of stepping back from its aggressive rate-hike stance. Analysts at Goldman Sachs wrote in a note late Thursday that the expected path of interest rates by the central bank is now higher than its previous estimate. Their previous target was 4,300 points. The benchmark index last closed at 3,758 points. “Based on our client… Source link

(Bloomberg) — Investors are flocking to cash and shunning almost every other asset class as they turn the most pessimistic since the global financial crisis, according to Bank of America Corp. strategists. Most Read from Bloomberg Cash had inflows of $30.3 billion, while global equity funds saw outflows of $7.8 billion in the week through Sept. 21, the bank said in a note, citing EPFR Global data. Bond funds lost $6.9 billion, while $400 million left gold, the data showed. Investor sentiment… Source link

In continuing fantasy draft preparations, we’re seeing how our projections here at The Athletic measure up against other rankings. We already explored some of the gaps between our projections and NHL dot com’s rankings. For a quick refresher, these are the categories we used in the projections: goals, assists, plus/minus, power play points, shots on goal, and hits for skaters; goalies count wins, save percentages, goals-against average, and shutouts.  Now, we’ll see how our rankings… Source link

Fifteen of Spain’s top women’s soccer players are declining to play for the Spanish national team until working conditions improve, and alleged in Thursday emails that the situation around the team had “significantly” affected their “emotional state” and “health,” Spain’s soccer federation (the RFEF) and the players said in partially conflicting statements Thursday and Friday. The temporary resignations come weeks after a few Spanish stars reportedly urged head coach Jorge Vilda to step down,… Source link

FedEx (FDX): The delivery company announced cost-cutting measures and rate hikes after warning in preliminary fiscal first-quarter results of weakening demand. FedEx released its fiscal first-quarter results in an 8-K before the close of trading Thursday, sending shares up 0.8%. The company outlined plans to save up to $2.7 billion in fiscal 2023 and up to $4 billion by fiscal 2025. “We’re moving with speed and agility to navigate a difficult operating environment, pulling cost,… Source link

Salesforce Chair and Co-CEO Marc Benioff and his team are serious about expanding profit margins after years of making big acquisitions of Mulesoft, Tableau, and Slack. “For us, I think that the market doesn’t fully appreciate how committed we are to growth and margins,” Benioff told Yahoo Finance Live at the software giant’s Dreamforce conference in San Francisco before reeling off several recent initiatives by the company. Benioff also didn’t rule out making large deals in the future, Source link

U.S. stocks closed lower Thursday to cap a turbulent session after the Federal Reserve’s latest policy announcement and subsequent remarks from Chair Jerome Powell sent markets into disarray. The benchmark S&P 500 slid 0.9%, while the Dow Jones Industrial Average shed 100 points, or 0.4%. The technology-heavy Nasdaq Composite tumbled 1.4%. The moves extend a Fed-induced sell-off Wednesday that saw the S&P 500 and Dow each erase around 1.7% and the Nasdaq plummet 1.8%, and mark a third… Source link