Shares of Yellow fell 90% Friday afternoon following a Delaware court’s decision on its pension liabilities. (Photo: Jim Allen/FreightWaves)A Delaware bankruptcy court provided some clarity late Friday regarding $6.5 billion in withdrawal liability claims against Yellow Corp. The total amount the bankrupt less-than-truckload company will actually pay, however, remains to be decided. The mere fact that the estate will have to make good on some portion of the claims sent Yellow’s stock spiraling.Shares of Yellow (OTC: YELLQ) fell 90% on Friday to 50 cents per share as stockholders realized their bet that the company’s asset value would exceed amounts owed…
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(Bloomberg) — Bond traders are once again ramping up wagers on a half-point interest-rate cut by the Federal Reserve next week, just days after that bet seemed all-but-over.Most Read from BloombergThe likelihood of a 50-basis-point move climbed to 40% on Friday, up from as low as 4% earlier in the week. The repricing added to a rally in US government bonds, lifted small-cap stocks and weighed on the dollar.This shift marks a rapid about-face for traders who earlier this week had almost completely discounted the possibility of a large cut in the wake of hotter-than-forecast consumer-prices data and signs the…
Businesses and a charity said a lane reduction on a major A-road across a river had disrupted trade and cost them extra time and money.The westbound carriageway of the A14 Orwell Bridge, near Ipswich, was reduced to a single lane on 6 September, after a routine inspection discovered the “potentially unsafe condition” of a joint.Mike Barrett from the food charity FareShare East Anglia, based in Ipswich, said its fuel bill had increased due to its drivers “having to change routes from the shortest most positive route to try and avoid the jams”.A taxi driver, said the time of his journeys…
Matt Stroshane/Getty, Tyler Le/BIAI stocks like Nvidia, Super Micro Computer, and Broadcom soared nearly 20% this week.The rally was sparked as Oracle and Nvidia executives addressed concerns about AI returns.Oracle shares surged by 24% after Larry Ellison’s bullish comments on AI’s long-term potential.The stock market’s artificial-intelligence trade was revived this week, with shares of AI stalwarts like Nvidia, Super Micro Computer, and Broadcom soaring by nearly 20%.AI-related names and semiconductor shares were caught in a slump after Nvidia reported its second-quarter earnings two weeks ago. Nvidia shares slid sharply after the company failed to meet sky-high expectations, leading investors to…
As the cooler Colorado evenings set in, it’s evident football season is in full swing. For Denver singer-songwriter and entrepreneur Dre Lane, this means he gets to watch his favorite football player — his son Mario Lane. CBS “We call him deuce deuce,” said Dre.Since Mario was 4 years old, his dad Dre made sure he was on the field. Entering his junior year at Cherokee Trail High School, this season is special for them for more reasons than one. “It really just transcends through my soul. You know, being able to be out here and watch him compete with…
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Volodymyr Zelensky has said it is “difficult to repeatedly hear” Western allies say they are working on a decision to lift limits on the use of long-range missiles as Vladimir Putin “burns down our cities and villages”.Mr Zelensky has pleaded with allies for months to allow his military to fire long-range US ATACMS and British Storm Shadow missiles at Russian targets used to launch devastating daily attacks on Ukraine.On Friday, UK prime minister Keir Starmer met with US president Joe Biden at the White House were they discussed Ukraine and the Middle East. There was no announcement on the use of long-range weapons.“Putin interprets…
Boeing May Need To Offer Additional Concessions To End Strike Despite Multi-Billion Dollar Debt: BofA AnalystBofA Securities analyst Ronald J. Epstein reiterated a Neutral rating on Boeing Company (NYSE:BA), with a price forecast of $200.The analyst views Boeing as particularly vulnerable, noting that the company has delayed its 737 production rate increase from 42 per month, originally set for September 2024, to March 2025.A prolonged strike could further worsen the company’s current difficulties, Epstein added.However, if the Spirit AeroSystems strike and subsequent contract negotiations set a precedent, the strike could potentially be resolved in as little as a week, Epstein…
Times Observer photos by Josh Cotton Dolores Timco outlined how the Ronnie and Joyce Weller Tidioute Development Fund will benefit her business as the fund’s first grant recipient.With that sustained population decline come a whole slate of problems that towns throughout much of rural America face. Solving those challenges is a big puzzle. Some of the challenges can be tied to funding. And the Ronnie and Joyce Weller Tidioute Development Fund aims to get some good things going. Ronnie Weller, center, discusses his hopes for revitalization in Tidioute during this week’s Warren Worx stakeholder meeting held at Tidioute Community Charter…
Edwards Air Force base has been home to many ‘firsts’ in Air Force lore, from the first supersonic flight to the first space shuttle landing. This week the Air Force broke ground on another ‘first’ at Edwards, one which could address the chronic housing shortage at the remote base in the southern California desert where some troops have lived in RVs for years before finding full-time housing. With Edwards base officials lifting shovels of dirt with contractors, work began for the on-base apartment complex that will be run by a private company, a first for the Air Force. Officials hope…