NEW YORK — The NBA draft is Thursday at 8 p.m. ET, and there will be a lot of intel and speculation coming out the next few days as teams gear up for the big night. There is no clear-cut No. 1 overall pick like in years past, but Jabari Smith remains the safest pick at No. 1. Here’s a breakdown of all the latest information coming out heading into the draft. (This page will be continually updated with the latest information and intel from around the league.) Wednesday updates Jalen Williams… Source link
Read More »Elon Musk says Tesla’s new factories are ‘gigantic money furnaces’ that are losing billions of dollars from EV-battery shortages and supply-chain snags
Yasin Ozturk/Anadolu Agency via Getty Images Musk said Tesla was losing billions of dollars at its new factories because of supply-chain snags. The CEO has complained about supply-chain shortages in the past. Musk is one of many auto executives who have said shortages may further hurt the industry. Elon Musk said during a recent interview that electric-car-battery shortages and supply-chain snags were costing Tesla billions of dollars. “Both Berlin and Austin factories are gigantic money furnaces… Source link
Read More »Former Colts, Ravens DE Tony Siragusa dies at 55
RIP Tony Siragusa. (Photo by Evan Agostini/Invision for PepsiCo/AP Images) Tony Siragusa, a member of the Baltimore Ravens’ Super Bowl-winning defense who carved out a post-retirement media career, died Wednesday, the Ravens confirmed Wednesday. He was 55 years old. Siragusa, nicknamed “Goose,” played 12 seasons in the NFL, but had to overcome a major obstacle on his way there when he tore his ACL in college at Pittsburgh, depleting his draft stock to the point that he went undrafted in the… Source link
Read More »‘A cold dark place’ — Michael Burry thinks the market has plenty of room to plunge. But he finally sees value in these 4 stocks
‘A cold dark place’ — Michael Burry thinks the market has plenty of room to plunge. But he finally sees value in these 4 stocks Michael Burry — the hedge fund manager depicted by Christian Bale in The Big Short — has been aggressively investing during this market downturn. Burry’s latest 13F filing for the first quarter of 2022 shows a broad range of new investments and some interesting strategic moves with options. That’s a significant shift from the previous quarter when Burry… Source link
Read More »Fed officials start to embrace the possibility of recession
Policymakers at the Federal Reserve are beginning to entertain the possibility of recession, as high inflation pushes the central bank to raise interest rates at the fastest pace in decades. “It’s certainly a possibility,” Fed Chairman Jerome Powell told the Senate Banking Committee on Wednesday when asked about the chance of a recession. Powell clarified: “It’s not our intended outcome.” The Fed chief’s remarks on Wednesday stand in contrast to his commentary from early May, when… Source link
Read More »Philadelphia Fed President Patrick Harker speaks with Yahoo Finance [Transcript]
Patrick Harker, President of the Federal Reserve Bank of Philadelphia, joined Yahoo Finance Live on June 22, 2022, to discuss his economic outlook and the Fed’s recent decision to raise interest rates by 0.75%. — BRIAN CHEUNG: President Harker. Good morning. How are you? PATRICK HARKER: Good morning, Brian. Thanks for having me. BRIAN CHEUNG: So a lot to talk about, obviously the big news headline coming from the Fed last week of that 0.75%, 75 basis point, move. It was an interesting kind of… Source link
Read More »How the Biden economy compares with Jimmy Carter’s
You might have heard: Joe Biden is shaping up as the next Jimmy Carter. As a Democratic president in the 1970s, Carter had to deal with surging inflation, as Biden does now. Carter also faced an energy crisis, triggered abroad, much as Biden is now trying to tackle soaring gasoline prices caused by Russia’s invasion of Ukraine. Carter famously claimed the nation faced a “crisis in confidence,” which is arguably the case under Biden, too, given that consumer confidence, by some measures,… Source link
Read More »US is only a few days away from an ‘absolute explosion’ on inflation — here are 3 shockproof sectors to help protect your portfolio
U.S. consumer prices rose 8.6% in May from a year ago, marking the biggest increase since December 1981. But according to pollster and GOP political strategist Frank Luntz, things are about to get a lot worse. “We are 13 days away from an absolute explosion on inflation,” Luntz told CNBC last week, referring to the upcoming 4th of July weekend. He explains that Independence Day, Thanksgiving, and Christmas are three holidays where Americans hit the road and “buy more food than any other… Source link
Read More »Deshaun Watson still facing possibly most problematic civil suit
(Warning: This column contains allegations of sexual misconduct.) It should be of little surprise that when Houston-area attorney Tony Buzbee announced that 20 of his 24 clients had settled civil lawsuits against Cleveland Browns quarterback Deshaun Watson, he spent most of the time talking about one of the plaintiffs who hadn’t resolved things. Ashley Solis. Tuesday’s settlements are a step toward Watson eventually moving past this scandal and perhaps returning to play NFL games, but it… Source link
Read More »JPMorgan’s mortgage business to slash workforce as housing market cools
JPMorgan Chase (JPM) is slashing jobs in its home-lending division as rising mortgage rates and inflation drive a slowdown in the housing market. The bank is expected to lay off or reassign more than 1,000 employees, Bloomberg News first reported on Wednesday. Bloomberg’s report indicated “about half” of these impacted workers will be moved to different departments within the bank. “Our staffing decision this week was a result of cyclical changes in the mortgage market,” a JPMorgan… Source link
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