Author: Press Room

Elon Musk gave more information on the long-awaited Cybertruck release in a new Joe Rogan interview. The billionaire said there will be a “beast mode version” and a version with bulletproof glass. Tesla has scheduled a Cybertruck delivery event for November 30. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Elon Musk spilled more details on Tesla’s upcoming Cybertruck during an interview with Joe Rogan on Tuesday.On his latest appearance on “The Joe Rogan Experience,” the Tesla CEO said the electric pickup truck will…

Smiling business woman lying in moneygetty Despite headline inflation trending downward in recent months, more than half of American adults say that they are now living paycheck to paycheck following a LendingClub report published in June 2023. A closer look at the report revealed that roughly 58 percent of U.S. adults are now living each month paycheck to paycheck. More surprisingly, three-quarters of consumers earning less than $50,000 annually, and 65 percent earning between $50,000 and $100,000 are having their paychecks stretched thin every month. With inflation dramatically falling, after reaching a four-decade high of 9 percent in June last…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Carlsberg’s chief executive warned of weak consumer sentiment and denounced Moscow’s seizure of its Russian subsidiary as the Danish brewer reported lower than expected beer sales across its key markets. “There is nowhere we are seeing a buoyant consumer,” Jacob Aarup-Andersen said following his first trading update as chief executive, in which the company reported like-for-like revenue growth globally of 5.8 per cent on the back of price increases.  Sales volumes fell 5.2 per cent in western Europe, lower than analysts’ consensus, while…

© Reuters. FILE PHOTO: The logo of WeWork, backed by Japan’s SoftBank Group Corp, is seen in the window of an office building in London, Britain, July 3, 2020. REUTERS/Simon Newman/File Photo (Reuters) -WeWork plans to file for bankruptcy as early as next week, a source familiar with the matter said on Tuesday, as the SoftBank (TYO:) Group-backed company struggles with a massive debt pile and hefty losses. Shares of the flexible workspace provider fell 32% in extended trading after the Wall Street Journal first reported the news. They have fallen roughly 96% this year. New York-based WeWork is considering…

© Reuters. A row of residential houses stands in Brooklyn’s neighborhood of Bushwick, New York, U.S., September 16, 2022. REUTERS/Amr Alfiky/File Photo (Reuters) – Insurer Assurant (NYSE:) reported a surge in third-quarter adjusted profit on Tuesday, helped by the strong performance of its global housing unit and higher investment returns, sending shares up 2.7% in aftermarket trading. Assurant’s global housing business, which offers lender-placed insurance, multi-family housing and mortgage services, posted adjusted EBITDA of $165.1 million in the quarter, compared with a loss of $38.5 million a year earlier. “Global Housing’s top-line momentum and improving loss experience combined with Global…

© Reuters. Investing.com – US crude stockpiles possibly rose as much as 1.3 million barrels last week, resulting in another build as well at the storage hub tied to the delivery of oil contracts traded on the New York Mercantile Exchange, petroleum trade group API said Tuesday.  Declines were seen in inventories of gasoline, the premier US motor fuel product, and distillates — a feedstock for diesel and heating fuel, the weekly inventory report from the API, or American Petroleum Institute, showed. Typically at this time of year, demand for motor fuels is softer in the United States as Americans…

Bet_Noire The FDA has approved Novartis’ (NYSE:NVS) Cosentyx for the treatment of severe hidradenitis suppurativa, a debilitating skin disease, in adults. Novartis said Cosentyx, also known as secukinumab, is currently the only IL-17A inhibitor approved for the condition. Cosentyx is already approved in the US for the treatment of conditions such as plaque psoriasis, psoriatic arthritis, ankylosing spondylitis and non-radiographic axial spondylarthritis. Acelyrin (SLRN) and MoonLake Immunotherapeutics (MLTX) are also developing IL-17 inhibitor therapies for hidradenitis suppurativa. (Adds Acelyrin and MoonLake to story.)

© Reuters. The Bank of Japan (BOJ) has made a dovish adjustment to its Yield Curve Control (YCC) policy, leading to a weakened Japanese yen (JPY) against G-10 and Asian currencies. The adjustment has increased flexibility by placing a 1.0% upper end on the 10-year Japan Government Bonds (JGB) yield range as a reference rather than a cap. This move comes amid Wall Street’s overnight gains and has sparked risk-on sentiment in the market. Market participants are now closely watching the BOJ’s next decision, which could see the 10-year JGB yield rise above 1%. RBC Capital Markets predicts this potential…

Ep. 554 — Ilana Dayan The Axe Files with David Axelrod Israeli journalist Ilana Dayan has anchored “Uvda,” the leading investigative news program on Israeli TV, for 30 years. She joined David this week to talk about the first 24 hours after Hamas attacked Israel on Oct. 7, America’s involvement in the conflict, the helplessness felt in Israel, whether she believes the war will expand throughout the region, the political fallout for Israeli Prime Minister Benjamin Netanyahu and his Likud party following the attack, and where the Israeli-Palestinian relationship—as well as any hope for peace—goes from here. Oct 26, 2023…

Dow Jones Industrial Averagegetty October is joining September and August for months this year that the Dow Jones Industrial Average made the journey from high at the beginning to lower prices by month’s end. The closely watched measure of the really big stocks in the market rallied from time to time but never enough to erase the amount of loss that showed up on the days of selling. Although economic reports showed strength — gross domestic product increased 4.9% in the 3rd quarter — investors seemed to be looking at interest rates rises as the disturbing factor mitigating anything else.…