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Stocks sink after Powell suggests Fed may not cut rates in March

January 31, 2024 Yahoo News 0

Stocks sink after Powell suggests Fed may not cut rates in March

Paramount Global (PARA) shares skyrocketed more than 10% in early trading on Wednesday after Bloomberg reported media mogul Byron Allen made a $14.3 billion bid to buy all of Paramount’s outstanding shares. According to the report, Allen offered $28.58 each for the company’s voting shares, marking a 50% premium compared to recent trading levels, and $21.53 for non-voting shares. Including existing debt, the total value of the deal amounts to roughly $30 billion. It’s unclear how he would… Source link

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Disney lawsuit against DeSantis dismissed by judge as company vows fight ‘will not end here’

January 31, 2024 Yahoo News 0

Disney lawsuit against DeSantis dismissed by judge as company vows fight ‘will not end here’

A federal judge is dismissing Disney’s (DIS) free speech lawsuit against Florida Governor Ron DeSantis — a big win for the politician amid his ongoing political feud with the media giant. In a court filing obtained by Yahoo Finance, US District Judge Allen Winsor, who was appointed to the federal bench by former President Donald Trump in 2019, granted a motion to dismiss the First Amendment case. The judge determined that Disney’s position “fails on the merits” and ultimately “lacked… Source link

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Federal Reserve leaves interest rates unchanged, tempers expectations on rate cuts ahead

January 31, 2024 Yahoo News 0

Federal Reserve leaves interest rates unchanged, tempers expectations on rate cuts ahead

The Federal Reserve maintained its benchmark interest rate on Wednesday in a range of 5.25%-5.50%, the highest since 2001, and cautioned it won’t begin lowering interest rates until it sees further progress on inflation returning to its 2% target. “The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2%,” the Fed said in its policy statement. Fed chair Jerome Powell at his Wednesday… Source link

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Stocks sink after Powell suggests Fed may not cut rates in March

January 31, 2024 Yahoo News 0

Stocks sink after Powell suggests Fed may not cut rates in March

Paramount Global (PARA) shares skyrocketed more than 10% in early trading on Wednesday after Bloomberg reported media mogul Byron Allen made a $14.3 billion bid to buy all of Paramount’s outstanding shares. According to the report, Allen offered $28.58 each for the company’s voting shares, marking a 50% premium compared to recent trading levels, and $21.53 for non-voting shares. Including existing debt, the total value of the deal mounts to roughly $30 billion. It’s unclear how he would… Source link

Read More »