Company News for May 23, 2024

Yahoo Finance AU
Handwritten sign reveals grim truth of how much cashless change costs you
The small business laid bare just how much customers were paying in card surcharges.
Yahoo Finance AU
Aussie woman $2,500 out-of-pocket after split second mistake: 'Stupid'
The woman from Brisbane is urging others to look out for the red flags she missed. Read more here.
NewsWire
‘Sleeper issue’ could hit millions of Aussies
There is one fear plaguing the vast majority of working Australians, and experts say it’s not going away.
Yahoo Finance Video
Tesla is biggest market bubble in world history: Short seller
Tesla's (TSLA) stock momentum seems to have stalled Friday morning after shareholders voted to approve CEO Elon Musk's pay packages — valued at nearly $46 billion — at the company's annual shareholder meeting on Thursday. Many analysts and Wall Street experts have shared new, incredibly bullish forecasts for the EV company, including Wedbush's Dan Ives — whose latest call sees Tesla's market cap reaching over $1 trillion in 2025 — and Ark Invest (ARKK) Founder, CEO, and CIO Cathie Wood, who believes the stock could reach $2,600 by 2029. However, not everyone shares this enthusiasm around Tesla and Elon Musk. Clean Energy Transition CEO and Portfolio Manager Per Lekander — a long-time Tesla short-seller — joins The Morning Brief to explain his $15 price target, likening Tesla to "the next Enron." "Let's not forget, that the stock is down 60% from all-time high at the same time as the market has gone up, 20, 25% in the meantime," Lekander says, citing Tesla's earnings and its year-to-date stock losses. "So the stock needs to go down. Once it goes down, it's going to go down more. And I think what drives it down is earnings. And I think we are very, very close to the turning point because so far it's been a slippery slope. They've sold cars poorly therefore they lowered the price, therefore earnings went down..." Lekander characterizes Musk as "missing... what's going on in the overall EV space" coming out of COVID-19 pandemic trends. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan. Catch up on Yahoo Finance's coverage of all things Tesla, Elon Musk, and his pay package saga: Don't bet against Elon Musk: Dan Ives talks $1T Tesla call Elon Musk wins Tesla shareholder battle to keep his record-breaking pay Elon Musk has been integral to Tesla's growth, AI: Cathie Wood Musk's pay battle is not over. Here's why. Is Elon Musk the right fit as Tesla's CEO? Musk pay package: What's incentivizing shareholder votes Elon Musk's $46B Tesla pay package: Explained
Fortune
Nvidia alone accounts for more than a third of the S&P 500’s gains this year—and it’s a big risk for investors, top economist warns
"The bottom line is that the extreme concentration of returns in the S&P 500 makes investors more vulnerable to single headlines impacting the one stock driving index returns."
Yahoo Finance AU
Costly mistake 65 per cent of Aussies make when paying painful insurance bill
Money saving expert Joel Gibson shares the easy ways you can claw back cash.
Moneywise
‘I’m counting on this income’: Single mom in NC faces squatter nightmare after Airbnb guests refuse to leave
She’s relying on that rent to put her son through college.
Bloomberg
Emerging-Market Bond Rally Threatened as Hawkish Flags Multiply
(Bloomberg) -- The balmy days of dovish monetary policy that fueled a rally in emerging-market bonds looks to be over as central banks across the developing world turn more hawkish.Most Read from BloombergFlesh-Eating Bacteria That Can Kill in Two Days Spreads in JapanSouthwest Plane Plunged Within 400 Feet of Ocean Near HawaiiYes, Everyone Really Is Sick a Lot More Often After CovidDanes Asked to Keep Supplies, Iodine Pills to Prepare for CrisesMeloni Uses the G-7 to Put Focus on the Global Sou
Moneywise
South Florida condo owners are dumping their homes after getting slapped with six-figure special assessments
One real estate expert says, “this is just the beginning.”
NewsWire
Expert shares top tips ahead of tax time
An expert has shared the five best - and five worst - things you can do this tax time to get the best possible return.
Associated Press Finance
Toyota shareholders demand vote against chairman Toyoda as automaker embroiled in testing scandal
Toyota’s chairman Akio Toyoda will be facing some disgruntled shareholders this week, as two major proxy groups demand a vote against keeping the grandson of the founder on its board. The vote expected at the June 18 annual shareholders meeting comes after Toyota apologized recently over fraudulent certification tests for vehicles, a major embarrassment for a company that prides itself on a reputation for excellent quality. The raft of problems at Japanese automakers including Toyota are said not to involve any safety problems and no recalls were announced.
Fortune
The Fed hits Evolve bank with order over fintech troubles
The U.S. central bank has issued an enforcement action against Evolve Bank & Trust for failing to comply with anti-money-laundering, risk management, and consumer compliance programs.
Simply Wall St.
The past five years for Star Entertainment Group (ASX:SGR) investors has not been profitable
The Star Entertainment Group Limited ( ASX:SGR ) shareholders should be happy to see the share price up 11% in the last...
Sky News
Venture capital firm to unveil name-change after founder's exit
One of London's most prominent venture capital investors will this week change its name following the death and resignation of its two co-founders. Sky News understands that Hambro Perks, which counts a stake in What3Words, the location-mapping service, among its holdings, is to rebrand as Salica Investments. Hambro Perks was founded by Rupert Hambro, an investment veteran who died in 2021, and Dominic Perks, who left the firm last year.
Yahoo Finance Video
Tesla bulls and short sellers, French stocks pull back: Morning Brief
It's Friday morning, but even the stock market can't afford to take a three-day weekend! Morning Brief Hosts Seana Smith and Brad Smith guide investors through the leading industry stories and into the day's market open. Wall Street and tech investors are abuzz about Tesla (TSLA) and what CEO Elon Musk's pay package — valued at around $46 billion in the company's current stock price — is indicating about the future growth of the EV maker. Wedbush Securities Managing Director & Senior Equity Analyst Dan Ives details his latest forecast stipulating Tesla's market cap could be over $1 trillion in 2025. Clean Energy Transition CEO and Portfolio Manager Per Lekander later chimes in on why he believes Tesla is "the biggest stock market bubble in history" and that it could be "the next Enron." In stock news, Apple (AAPL) continues to hold the most valuable company title at the open after it's market cap surpassed Microsoft's (MSFT). France's CAC 40 (^FCHI) exchange takes a hit, falling by well over 2% as political tensions over France's snap election create unease in the market. This post was written by Luke Carberry Mogan.
GOBankingRates
5 Reasons Avoiding an Annuity Is a Smart Move for Your Retirement
Annuities are often recommended by advisors as good options for retirees, and in some cases, they can be appropriate. The positive features of annuities include the potential for lifelong income,...
Bloomberg
Global rate-cut juggernaut Is struggling to start
(Bloomberg) -- Central banks cagey about joining the global interest-rate cutting cycle may reveal themselves this week with a quartet of decisions in advanced economies.
Yahoo Finance Video
Disinflation is clearly unfolding in markets: Strategist
Stock markets are trading mixed after an eventful week of economic data releases and corporate announcements. Ryan Detrick, Carson Group's Chief Market Strategist, joins Market Domination Overtime to discuss market outlooks. Detrick emphasizes that the market's focus is primarily on inflation, with "some big-time improvements" emerging that are steering the economy back toward pre-pandemic levels. He notes that this week's data points have showcased "disinflation" taking place, although the broader public may not fully recognize it yet. Turning his attention to the impact of current conditions on consumers, Detrick believes that "the top 40% who truly drive the economy are still in good shape, ....and we continue to think the consumer is fairly healthy overall and it should still lead to a bull market." For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Angel Smith
Bloomberg
China’s Premium Brands Fall Out of Favor With Stock Investors
(Bloomberg) -- China’s once-mighty shoppers have turned into reluctant spenders in the face of an economic slowdown, a shift that’s proving particularly painful for stocks related to premium brands.Most Read from BloombergFlesh-Eating Bacteria That Can Kill in Two Days Spreads in JapanSouthwest Plane Plunged Within 400 Feet of Ocean Near HawaiiYes, Everyone Really Is Sick a Lot More Often After CovidDanes Asked to Keep Supplies, Iodine Pills to Prepare for CrisesMeloni Uses the G-7 to Put Focus
GOBankingRates
Here’s How Early the Average Gen Zer Starts To Save for Retirement Compared to Boomers
When it comes to retirement savings, Gen Z will be dealing with a set of problems that haven't been seen before. Unlike their Baby Boomer predecessors, members of Generation Z have to think about...

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Company News for May 23, 2024

Latest stories

Handwritten sign reveals grim truth of how much cashless change costs you

Aussie woman $2,500 out-of-pocket after split second mistake: 'Stupid'

‘Sleeper issue’ could hit millions of Aussies

Tesla is biggest market bubble in world history: Short seller

Nvidia alone accounts for more than a third of the S&P 500’s gains this year—and it’s a big risk for investors, top economist warns

Costly mistake 65 per cent of Aussies make when paying painful insurance bill

‘I’m counting on this income’: Single mom in NC faces squatter nightmare after Airbnb guests refuse to leave

Emerging-Market Bond Rally Threatened as Hawkish Flags Multiply

South Florida condo owners are dumping their homes after getting slapped with six-figure special assessments

Expert shares top tips ahead of tax time

Toyota shareholders demand vote against chairman Toyoda as automaker embroiled in testing scandal

The Fed hits Evolve bank with order over fintech troubles

The past five years for Star Entertainment Group (ASX:SGR) investors has not been profitable

Venture capital firm to unveil name-change after founder's exit

Tesla bulls and short sellers, French stocks pull back: Morning Brief

5 Reasons Avoiding an Annuity Is a Smart Move for Your Retirement

Global rate-cut juggernaut Is struggling to start

Disinflation is clearly unfolding in markets: Strategist

China’s Premium Brands Fall Out of Favor With Stock Investors

Here’s How Early the Average Gen Zer Starts To Save for Retirement Compared to Boomers