Renowned short seller Jim Chanos vehemently denied the accusations against him, describing them as “false, baseless, and defamatory.” In an interview with CNBC’s Scott Wapner, Chanos addressed the lawsuit filed by Conlon Holdings, a company run by Sean Conlon, alleging that Chanos embezzled funds for personal use. The lawsuit claimed that Chanos treated his firm
Show
Dick’s Sporting Goods has experienced a surge in consumer spending on new sneakers and athletic gear, resulting in the retailer raising its full-year earnings guidance. In the first fiscal quarter, Dick’s saw a 5.3% increase in comparable sales, surpassing analysts’ expectations of 2.4%. This growth was attributed to both increased transactions and higher average ticket
Despite underperformance in the public market, clean energy stocks are experiencing a resurgence in private markets. Clean Energy Ventures‘ newest fund, raising $305 million, exemplifies the growing appetite for decarbonization-focused companies. This oversubscribed fund, with a target of $200 million, showcases the interest from limited partners like The Grantham Foundation, Builders Vision, and Carbon Equity.
The recent increase in mortgage rates has had a significant impact on the housing market. After a brief drop in rates during May, last week saw rates climbing once again. The average interest rate for 30-year fixed-rate mortgages rose to 7.05% from 7.01%, with points also increasing. While this may seem like a small change,
Cathie Wood’s ARK Invest has recently made a significant move by investing in Elon Musk’s startup xAI, showcasing a strong commitment to the artificial intelligence sector. The investment was made through ARK Venture Fund, with the St. Petersburg-based asset manager announcing this development to its clients. In addition to xAI, ARK Venture Fund has also
The International Monetary Fund (IMF) has increased its growth forecast for China in 2021 to 5%, up from the previous prediction of 4.6%. This adjustment is a result of strong first-quarter economic data and recent policy changes implemented by the Chinese government. Additionally, the IMF now anticipates China’s economy to grow by 4.5% in 2025,
In light of the COVID-19 pandemic and its subsequent impact on travel, Chinese high-income households are now showing a preference for domestic travel over international destinations. A recent survey by consulting firm Oliver Wyman revealed that only 14% of families earning at least 30,000 yuan a month in mainland China, who traveled internationally last year,
Many individuals choose to claim their Social Security retirement benefits early, either at the age of 62 or before reaching their full retirement age. However, experts strongly advise delaying these claims in order to receive the maximum benefits earned. By waiting until full retirement age, which typically falls between 66 and 67, individuals can ensure
When Starbucks and its baristas union resume contract bargaining this week, workers may have renewed momentum at their backs. This comes at a critical time for the coffee giant, as it recently reported a challenging quarter with a 3% decrease in U.S. same-store sales and a 7% drop in traffic. As a response, the company
As March 12 rolls around each year, it marks Equal Pay Day, symbolizing the point in the year where women, on average, must work to catch up to the earnings of their male counterparts from the year before. However, for Asian American, Native Hawaiian, and Pacific Islander (AAPI) women, the journey to equal pay extends