It's day two of the East and Gulf Coast Port Strike, causing significant disruptions. West Coast Shipping, a classic car shipping company, is feeling the effects. COO and Co-Founder Alex Naumov spoke with Scarlet Fu on "Bloomberg Markets" about how they're diverting shipments through other ports, leading to increased costs. The strike is impacting businesses nationwide, forcing them to make costly adjustments.
Hurricane Helene has caused an estimated $6.4 billion in damages, according to early estimates from catastrophe modeling firm Karen Clark & Company. Insurers are bracing for significant losses as recovery efforts begin.
ModivCare Inc., a medical transportation firm, has secured a temporary relief from its banks, preventing a technical debt default. The company's cash flow issues stemmed from slow payments, making this reprieve crucial.
Pinterest has launched Performance+ just in time for the holiday season. This new suite features AI and generative AI tools designed to help advertisers optimize their targeting and improve results. Pinterest CEO Bill Ready discussed these developments with Caroline Hyde and Ed Ludlow on "Bloomberg Technology."
In a significant move, major financial firms have approved guidelines for using tokenized shares of money-market funds from financial giants like BlackRock and Franklin Templeton as collateral in trading. This step marks a notable advancement in integrating innovative financial technologies into traditional markets.
Money-market funds are seeing a surge in cash inflows despite a new regulatory overhaul that introduces costly mandatory fees for the industry. This trend highlights investor confidence in these funds as a safe place to park their money, even amid increased costs. Many are flocking to these funds for their stability, prioritizing safety over potential returns amidst changing market conditions.
StandardAero Inc. saw its shares jump 36% in their trading debut after raising $1.44 billion in an initial public offering. The aircraft maintenance services provider's successful launch highlights strong investor interest in the aviation sector.
On Wednesday, Bank of America experienced significant online service disruptions, leaving many customers unable to access their accounts. Reports began surfacing around noon Eastern Time, with DownDetector noting that approximately 5,000 users had reported issues by 3 p.m. ET. Customers expressed frustration on social media, with some unable to log in at all, while others ...
The yen took a hit today after Japan's new Prime Minister Shigeru Ishiba stated that the economy isn't prepared for another interest rate hike from the central bank. His comments sent shockwaves through currency markets, leading to a significant drop in the yen's value.
TotalEnergies CEO Patrick Pouyanne announced that the French energy company is actively developing plans to list its shares in New York, alongside Paris and other European exchanges. This move aims to attract more U.S. investors.
