Image source: Getty Images The S&P 500 has long been the gold standard for stock market returns. This blue-chip index, which tracks the performance of the 500 largest publicly traded companies in the US, has returned just above 10% on average since its 1957 inception. Over the last 10 years, however, the annualised return has been running slightly higher than that (around 12%). With dividends reinvested, it’s been above 13%! That’s an incredible, inflation-busting return! This hot run of form isn’t guaranteed to continue. But if it did and the index returned 12%, then a £1,000 investment today would become…
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DANBURY, Conn., Oct. 07, 2024 (GLOBE NEWSWIRE) — An Ethan Allen (NYSE:) distribution center located in Old Fort, North Carolina, was recently impacted by the significant flooding caused by Hurricane Helene. The distribution center, which primarily focuses on shipping custom-made home furnishings to select wholesale customers, has not yet resumed daily shipping operations due to limited road accessibility for tractor trailers. Recovery efforts have already begun, including restoration of electricity and internet connectivity. The Company’s major upholstery operations, which are located in central North Carolina, were not significantly disrupted by Hurricane Helene and are currently operating at normal capacity. Ethan…
Former drug company executive Martin Shkreli and his lead attorney Benjamin Brafman arrive at U.S. District Court for the fourth day of jury deliberations in his securities fraud trial in the Brooklyn borough of New York City, U.S., August 3, 2017. Amr Alfiky | ReutersThe Supreme Court on Monday rejected a bid by notorious ‘pharma bro’ Martin Shkreli to hear his appeal of a $64 million financial penalty on the fraudster for blocking competition to a lifesaving drug whose price he had raised by more than $700 per pill.Shkreli’s request that the Supreme Court take his appeal of a federal court…
By Daniel Wiessner(Reuters) – The U.S. Supreme Court declined on Monday to hear a challenge by Uber (UBER) and Lyft (LYFT) to lawsuits by the state of California on behalf of drivers who signed agreements to keep legal disputes with the ride-hailing companies out of court in a legal fight over their status as contractors.The justices turned away appeals by the two companies of a lower court’s ruling that let the Democratic-led state’s attorney general and labor commissioner pursue claims that Uber and Lyft owe money to drivers who were misclassified as independent contractors rather than employees.The companies have argued…
Mexico has become an increasingly attractive destination for investors. The country boasts several economic advantages, particularly its proximity to the United States. It’s also home to a youthful population that is well-equipped for the workforce — a median age of 29 with 45% of its citizens younger than 25. The Mexican government has developed programs to upskill its young citizens and prepare them for a tech-centric future. The country’s information technology market surpassed $2 billion in 2022. Outside the workforce, Mexico’s youth are significant drivers of consumer spending, forming the bulk of 126 million Mexican consumers whose purchasing power continues…
Image source: Getty Images The FTSE 250 consists of mid-cap companies just below those in the FTSE 100, as ranked by market capitalisation. These medium-sized businesses tend to be more domestically focused than their blue-chip counterparts. As a group though, FTSE 250 stocks have struggled in recent times, rising just 3.75% in five years (not including dividends). This poor performance largely reflects the challenges faced by the UK economy, including Brexit, Covid, high inflation, and a cost-of-living crisis. The UK’s economic productivity also remains notoriously weak. However, inflation finally seems to be under control and interest rates are set to…
The U.S. Department of Energy (DOE) is taking major steps to boost the nation’s power grid, aligning with the Biden-Harris Administration’s Investing in America agenda. The DOE announced two important actions to lower costs and improve energy access. The first is a $1.5 billion investment in four key transmission projects and the second is the release of the final National Transmission Planning (NTP) Study. These moves reflect the administration’s commitment to making the electricity grid more reliable, resilient, and capable of meeting growing demand with affordable, clean energy. DOE’s $1.5 Billion Boost for Critical Transmission Projects The press release explains…
By Daphne Psaledakis WASHINGTON (Reuters) – The United States on Monday imposed sanctions on an international Hamas fundraising network, accusing it of playing a critical role in external fundraising for the Palestinian militant group, in action marking the first anniversary of the Gaza war. The U.S. Treasury Department in a statement said it imposed sanctions on three people and what it called a “sham charity” that it accused of being prominent international financial supporters of Hamas, as well as on the Al-Intaj Bank in Gaza that it said was controlled by the group. Also targeted was a longstanding Hamas supporter,…
Strategic investment from Goldman Sachs Alternatives and additional credit facility commitments fortify BrightNight’s standing as a leading U.S. renewable power platform. NEW YORK, Oct. 7, 2024 /PRNewswire/ — BrightNight, the next-generation renewable power producer built to deliver clean and dispatchable power solutions, today announced the successful closing of a $440 million strategic equity investment from Goldman Sachs Alternatives. This investment, together with existing capital commitments from leading institutional investors, is expected to fully fund BrightNight’s five-year business plan and advance the execution of its 31-gigawatt renewable power project portfolio, which includes solar, energy storage, and hybrid solutions. BrightNight Chairman and…
US stocks slipped on Monday as investors overhauled their views on interest rate cuts after a blowout jobs report ahead of a week of key inflation data and the start of earnings season.The Dow Jones Industrial Average (^DJI) fell 0.3% after notching a fresh record high as stocks soared to close the week. The S&P 500 (^GSPC) shed roughly 0.2%, while the tech-heavy Nasdaq Composite (^IXIC) led the losses with a 0.4% drop.Hopes for an outsized rate cut from the Federal Reserve have melted away after a better-than-expected September jobs report dispelled concerns about cracks in the labor market. The…