FINANCE
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Chevron reports disappointing Q4 as refining posts first loss since 2020
US oil major Chevron has reported fourth-quarter (Q4) earnings below expectations due to weak refining margins, marking the first loss in this segment in four years. CEO Mike Wirth noted the post-pandemic surge in fuel margins has ended, with a continued downtrend expected this year, reported Reuters. The company’s adjusted earnings per share of $2.06 fell short of Wall Street’s…
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LinkedIn lawsuit over use of customer data for AI models is dismissed
By Jonathan Stempel (Reuters) – A proposed class action accusing Microsoft’s (MSFT) LinkedIn of violating the privacy of millions of Premium customers by disclosing their private messages to train generative artificial intelligence models has been dismissed. The plaintiff Alessandro De La Torre on Thursday filed a notice of dismissal without prejudice in the San Jose, California federal court, nine days…
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Auto tech firm CDK reaches $630 million settlement in US dealer data case
By Mike Scarcella (Reuters) – Automotive technology giant CDK Global has agreed to pay $630 million to settle antitrust claims that it caused hundreds of software vendors to overpay for vehicle dealership data by restricting access. The proposed settlement, filed on Monday night in a federal court in Madison, Wisconsin, requires a judge’s approval. The company denied any wrongdoing in…
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US dollar retreats from 2-year high as Trump touts ‘tremendous’ tariff power, but holds off on swift action
The US dollar (DX=F, DX-Y.NYB) further retreated from near two-year highs on Friday, falling to a one-month low after President Trump said he would “rather not” impose tariffs on China. “We have one very big power over China, and that’s tariffs, and they don’t want them,” Trump said in an interview with Fox News on Thursday. “And I’d rather not…
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Netflix stock reaches all-time high as Wall Street cheers ‘near flawless’ earnings
Netflix stock (NFLX) surged to yet another all-time high, rising as much as 13.6% in early trading on Wednesday, as Wall Street analysts praised the company’s fourth quarter earnings results. Shortly after the opening bell, the stock leaped to just under $1,000 a share as analysts rushed to increase their respective price targets. Pivotal Research upped its target from $1,000…
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IonQ Updates Its Quantum Value Timeline After Nvidia’s Jensen Huang Gives His Own Timeline of 15 to 30 Years
The last three months have been quite eventful for quantum computing stocks, with some of the sharpest ups and downs investors will ever see. It started when Alphabet‘s Google announced a major quantum breakthrough with its Willow chip. The Dec. 9 announcement revealed that the Willow chip allows quantum computers to self-correct errors better than ever — a major milestone…
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Tech groups sue US CFPB to block rule on payment apps, digital wallets
By Jonathan Stempel (Reuters) – Two technology trade groups sued the U.S. Consumer Financial Protection Bureau on Thursday to block a new rule giving the regulator supervisory authority over payment apps and digital wallets from large non-banks. NetChoice and TechNet said Congress did not give the CFPB free rein to aggressively, arbitrarily and capriciously police large non-banks offering consumer financial…
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California halts insurance non-renewals in wildfire areas
The California Department of Insurance (CDI) has mandated all property insurance providers to halt any pending non-renewals and cancellations for residential properties in affected areas in light of ongoing wildfires. Earlier this month, wildfires erupted in several regions across California, with US President Biden approving a Major Disaster declaration for the state. The existing laws in California already offer protection…
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12 Annuity Terms Every Investor Should Know
A woman looking up annuity terms. SmartAsset and Yahoo Finance LLC may earn commission or revenue through links in the content below. Annuities can be a good option for investors seeking steady income during retirement. To get started, it’s important to learn some basic annuity terms. These 12 key terms will help you understand how annuities work and whether they…
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Stocks Turn Lower After JOLTS Data
The stock market took a dive after the latest job openings numbers came in higher than expected. The Dow was down 42 points, or 0.1%. The S&P 500 was down 0.4%. The Nasdaq Composite fell 0.8%. All three indexes began the day higher. Bond yields were spiking. The yield on the 10-year Treasury note was up to 4.69%. The 2-year…
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