Fed officials debate policy direction as Summers backs Bessent's critique of potential Fed overreach, while markets react with Nasdaq dropping amid uncertainty over Powell's leadership.
Verizon is still losing postpaid phone subscribers—those coveted customers who pay monthly bills—thanks to aggressive deals from competitors. However, there’s a silver lining: the company raised its full-year profit forecast, suggesting cost-cutting or other strategies might be offsetting the subscriber bleed.
Editor’s Note: Losing postpaid subscribers isn’t great—it’s the bread and butter of wireless carriers—but Verizon’s improved outlook hints they’re finding ways to stay profitable despite the squeeze. For consumers, this means the promo wars aren’t slowing down, so better deals might still be up for grabs. For investors, it’s a mixed bag: growth is shaky, but the bottom line might hold.
The Nasdaq took a dip today as investors weighed mixed signals—General Motors warned of a $1.1 billion hit from tariffs, while economist Alan Bessent argued there’s no compelling reason for Fed Chair Jerome Powell to step down. It’s a day of financial jitters and policy speculation.
Editor’s Note: Tariffs and Fed leadership uncertainty are stirring up Wall Street. GM’s hefty tariff bill shows how trade policies can dent corporate profits, while Bessent’s comments add fuel to the debate over Powell’s future—a key factor for market stability. If big players like GM are feeling the pinch, it could ripple through the economy.
The euro is getting stronger while the U.S. dollar weakens, as global investors look for safer bets amid political and economic instability. It’s a shift that reflects growing confidence in Europe’s currency—or at least, less confidence in the dollar’s usual dominance.
Editor’s Note: Money doesn’t just sit still—it flows where it feels safest. Right now, turbulence elsewhere is making the euro look like a steadier option, which could ripple through everything from vacation costs to global trade. If this trend holds, it might signal bigger changes in how the world views economic power.
Italy is doubling down on its demands for UniCredit’s proposed takeover of Banco BPM, drafting a new decree that will reinstate most of the original conditions. This move signals the government’s ongoing reluctance to greenlight the deal without strict safeguards.
Editor’s Note: Italy’s stance shows how protective governments can be about their banking sectors, especially when big mergers are on the table. For UniCredit, this could mean more hurdles—or even a dealbreaker—while for Banco BPM, uncertainty lingers. It’s a reminder that in high-stakes finance, political will often trumps corporate ambition.
If you've noticed your grocery bill creeping up, especially at the meat counter, you're not alone. Beef prices have hit record highs with no relief in sight, according to experts. On the flip side, egg prices are finally dropping after last year's spikes. It's a mixed bag for shoppers—some wins, some painful surprises.
Editor’s Note: This isn’t just about sticker shock at the supermarket. Rising beef prices could force families to rethink meals, while falling egg costs might ease some budget pressure. It’s a snapshot of how unpredictable food inflation still is—and why your wallet feels the whiplash.
Microsoft says a group of Chinese hackers has been exploiting vulnerabilities in its SharePoint software to target US government agencies, universities, and energy companies. The breach highlights ongoing cyber-espionage risks, with sensitive systems potentially compromised.
Editor’s Note: This isn’t just another tech security alert—it’s a reminder that state-backed hackers are constantly probing critical infrastructure. When big players like Microsoft call out foreign actors, it signals serious concerns about national security and corporate defenses. If you work in government, education, or energy, this one’s worth paying attention to.