Hoonigan, the company founded by the late Ken Block, has filed for bankruptcy. The company, renowned for its exhilarating stunts and rally car competitions, seeks to eliminate its substantial $1.2 billion debt within a two month timeframe. Block, a visionary of rally driving, established the Monster World Rally Team in 2010 to compete at a global level. Over the years, he achieved remarkable success, including multiple podium finishes in both the World Rally Championship and World Rallycross Championship. Despite its impressive achievements, Hoonigan has encountered financial challenges, leading to the recent bankruptcy filing. The company’s bankruptcy declaration comes just one…
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Traders work on the floor at the New York Stock Exchange on Sept. 9, 2024.Brendan Mcdermid | ReutersThe S&P 500 inched lower Monday as investors await the Federal Reserve’s highly anticipated policy meeting, during which central bankers are expected to cut rates for the first time since 2020. Meanwhile, the Dow Jones Industrial Average rose to a new all-time high.The S&P 500 pulled back 0.1%. The tech-heavy Nasdaq Composite shed 0.8%. Meanwhile, the 30-stock Dow added 119 points, or 0.4%.Apple shares declined 3% after analysts at firms, including Bank of America and JPMorgan, noted that shipping times could point to…
Dividends are regular payments companies make to their shareholders from their profits. Dividend stocks are shares in these companies that consistently pay out dividends. These stocks are often associated with mature, stable companies that have steady cash flows. Investors can receive dividends as cash or reinvest them to buy more shares. Dividend stocks are popular among income-seeking investors and those looking for stability. Investing in dividend stocks can offer several benefits. They provide a steady income stream, which is particularly appealing during market downturns. Many dividend-paying companies have a history of increasing their payouts over time. This can lead to…
US and European stock markets wavered on Monday as investors cautiously awaited the US Federal Reserve’s first interest-rate cut since 2020.In New York, the Dow was up but the wider S&P 500 and the tech-heavy Nasdaq were lower shortly after opening. In Europe, London was marginally higher but all the main continental exchanges were slightly lower.The dollar fell ahead of the rate cut announcement, while haven investment gold rose to a new record high.US stocks surged last week on positive economic news and as investors increasingly priced in a full half-point cut, with the Dow and S&P 500 reaching a…
Formula 1’s longest bidding war has finally concluded, with renowned designer Adrian Newey set to join Aston Martin in 2025. The 65 year old Briton, whose cars have clinched 13 drivers’ and 12 constructors’ titles, will leave Red Bull after nearly two decades. This move marks a significant coup for Aston Martin’s owner, Lawrence Stroll, who continues his ambitious pursuit of a world championship. While some may question if Red Bull did enough to retain Newey, the decision has implications for both parties. Newey’s departure from Red Bull is a major loss for the team, which has dominated the sport…
Bond’s first advantage over Goldfinger isn’t his brawn or his gadgets, but by playing Goldfinger at his own game. He first scuppers Goldfinger’s card game scam, and later switches Goldfinger’s ball during a game of golf. The golf scenes – filmed at Stoke Park in Buckinghamshire – would begin Connery’s love of golf (as Hollywood legend goes, various future film schedules were at the mercy of his golfing).It’s also part of the Bond formula: 007 besting his rival in a gentlemanly contest. Bond has competed against villains at pheasant shooting, horse racing, fencing, witty banter, a whole manner of casino…
RESTON, Va. – Volkswagen (ETR:) Financial Services (VWFS) and Wells Fargo & Company (NYSE: WFC) have established a multi-year co-branded agreement that positions Wells Fargo as the preferred provider of consumer retail financing for Volkswagen, Audi, and Ducati purchases in the United States market. This partnership is slated to commence in April 2025 for VW and Audi dealerships, with Ducati dealerships following suit.The collaboration aims to enhance the consumer purchase experience across over 1,000 U.S. dealerships, combining the automotive expertise of VWFS with the comprehensive financial services capabilities of Wells Fargo. VWFS will continue to manage existing customer contracts and…
The Ford F-Series, a perennial top seller in the American pickup truck market, has faced numerous challenges over its decades long reign. Despite the introduction of newer competitors, the F-Series has consistently maintained its dominance. However, the recent introduction of the 2024 model year, which brought minor updates and increased prices, has raised questions about its continued supremacy. While the F-Series’ performance remains impressive, the Chevrolet Silverado’s growing popularity poses a potential threat. To showcase the F-Series’ capabilities, a recent drag race event at Bradenton Motorsports Park in Florida featured a white F Series going head to head with a…
Investing.com — Wells Fargo downgraded Colgate-Palmolive (NYSE:) to “underweight” from an “equal weight” rating signaling a more cautious outlook for the company’s future performance. This follows a period of growth and outperformance for Colgate-Palmolive, but analysts now project a return to more normalized growth rates, aligning the company’s trajectory closer to its industry peers. While the stock’s price target remains unchanged at $100, this represents a downside of about 5.4% from its current trading price of $105.73. Colgate-Palmolive’s recent success, which saw the company outperform large consumer goods rivals such as Procter & Gamble (NYSE:), Coca-Cola (NYSE:), and PepsiCo (NASDAQ:),…
Risk is not simply a matter of volatility. In his new video series, How to Think About Risk, Howard Marks — Co-Chairman and Co-Founder of Oaktree Capital Management — delves into the intricacies of risk management and how investors should approach thinking about risk. Marks emphasizes the importance of understanding risk as the probability of loss and mastering the art of asymmetric risk-taking, where the potential upside outweighs the downside. Below, with the help of our Artificial Intelligence (AI) tools, we summarize key lessons from Marks’s series to help investors sharpen their approach to risk. Risk and Volatility Are Not…