TSMC Earnings: Taiwan Semiconductor Manufacturing Company (TSMC), one of the world’s largest and most influential semiconductor manufacturers, is set to report a strong surge in its quarterly profit, largely driven by rising demand for chips used in artificial intelligence (AI) hardware. However, proposed U.S. restrictions on chip exports could cast a shadow over the company’s
Hindenburg Research, the US-based short-selling firm known for its controversial financial reports accusing high-profile companies of fraud and financial misconduct, is set to shut down. Nate Anderson, the founder of the firm, made the announcement on Wednesday, bringing an end to nearly eight years of explosive investigative work. Anderson, who founded the company in 2017,
US President-elect Donald Trump has announced plans to establish a new body named the External Revenue Service (ERS), which will focus on collecting tariffs, duties, and all revenues derived from foreign sources. This announcement comes as part of his broader strategy to strengthen America’s global trade position and reduce reliance on domestic taxation. In his
Wegmans, the renowned New York-based supermarket chain, has set its sights on opening a store in Cranberry Township by late 2027. The announcement of the planned 115,000-square-foot location marks a significant milestone in Wegmans’ long-awaited entry into the Pittsburgh market. While the store is still in the early stages of development, including securing approval from
United Rentals, one of the world’s largest equipment rental companies, announced on Tuesday its plan to acquire smaller rival H&E Equipment Services in a $4.8 billion deal. The acquisition comes as United Rentals aims to strengthen its position in the highly competitive equipment rental market, capitalizing on the growing demand across various industries in the
Lourenco Goncalves, the President and CEO of Cleveland-Cliffs, has called Northeast Ohio home for over a decade, leading the Cleveland-based steel company since 2014. However, if his ambitious bid to acquire US Steel succeeds, Goncalves has announced he will relocate out of state, to Pittsburgh. During a nearly two-hour news conference in Western Pennsylvania on
PPI December Data: Wholesale prices rose less than expected in December, providing a positive signal for the economy amid concerns that inflation is not decreasing as quickly as the Federal Reserve had hoped to reach its 2% target. The Bureau of Labor Statistics released its producer price index (PPI) report on Tuesday, revealing that wholesale
The Most Important Inflation Reading in Years: Investors are gearing up for a crucial inflation report this Wednesday, as December’s Consumer Price Index (CPI) data could significantly impact market expectations. The report could either reinforce the view that the Federal Reserve will keep rates steady throughout 2025, or potentially spark concerns of further rate hikes.
Walmart Reveals New Logo After Nearly Two Decades: Walmart has unveiled a fresh new logo in its first major brand refresh in nearly two decades. This updated logo, revealed on Monday, highlights the retailer’s evolution while nodding to its legacy and founder Sam Walton’s vision. As the company adapts to meet the needs of today’s
Capital One is facing a lawsuit from the U.S. government’s Consumer Financial Protection Bureau (CFPB) for allegedly “cheating millions of consumers” by not paying more than $2 billion in interest to holders of its high-interest savings accounts. The case centers around the bank’s management of its “360 Savings” accounts, which the CFPB claims were unfairly