In recent years, activist investors have faced defeat after defeat in proxy fights, with notable losses at companies like Disney and Norfolk Southern. This trend has led to questions about whether activist investors are losing credibility and power in the corporate world. The original activists who paved the way for governance reforms are distinct from
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Housekeepers in Palm Beach and South Florida are experiencing a surge in demand and salaries, with some making well over $150,000 a year. The mass exodus of wealthy individuals from high-tax states to Florida has led to an unprecedented need for household staff in elite enclaves, especially in Palm Beach. Staffing agencies are reporting bidding
Nvidia, the chipmaker, saw its shares surpass $1,000 for the first time in extended trading following the release of its fiscal first-quarter results. The company exceeded analyst expectations with a significant increase in revenue, reporting earnings per share of $6.12 adjusted versus $5.59 adjusted. Additionally, Nvidia’s revenue came in at $26.04 billion, higher than the
The S&P 500 has recently reached another record high, with a significant increase of 53% since the peak of inflation in 2022. Experts have pointed out the positive performance of the index, which tracks the largest US company stocks. While there are concerns about a potential market pullback, some analysts believe that there is still
E.l.f. Beauty recently celebrated its first billion-dollar fiscal year, showcasing an impressive 77% increase in sales. However, despite this significant achievement, the company’s shares experienced a decline after revealing their projected slower growth. This unexpected turn of events has left investors and analysts scratching their heads as they try to make sense of the situation.
The recent report from the National Association of Realtors revealed a 1.9% decrease in the sales of previously owned homes in April compared to March. This unexpected decline can be attributed to the significant increase in mortgage rates that started at the beginning of February. The continuous rise in rates, reaching 7% in April, has
After experiencing a decrease for the third consecutive week, mortgage interest rates have ignited a surge in demand for refinances. The Mortgage Bankers Association reported a 1.9% increase in total mortgage application volume compared to the previous week. Specifically, the average contract interest rate for 30-year fixed-rate mortgages decreased to 7.01% from 7.08%, sparking a
The Biden administration recently announced a plan to forgive $7.7 billion in student loans for over 160,000 borrowers. This initiative is part of the U.S. Department of Education’s strategy to alleviate the burden of education debt on households. As Education Secretary Miguel Cardona highlighted, the administration is dedicated to providing student debt relief to millions
The latest development in the financial industry involves the Consumer Financial Protection Bureau’s declaration that customers of the buy now, pay later (BNPL) sector must adhere to the same federal safeguards as credit card users. This means that BNPL lenders, which are primarily fintech firms like Affirm, Klarna, and PayPal, will now be required to
In a recent development, British regulators have imposed a hefty fine of £61.6 million ($79 million) on U.S. investment bank Citi for deficiencies in its trading systems and controls. The Prudential Regulation Authority and the Financial Conduct Authority conducted an investigation spanning from April 1, 2018, to May 31, 2022, which revealed significant lapses in
