Arm, the British chip designer, experienced a rollercoaster ride in the stock market with its shares closing down over 2% following the release of its fiscal fourth-quarter results. The company reported a significant 47% year-over-year rise in revenue, driven primarily by the demand for artificial intelligence applications. These robust sales were a result of high-value
When considering a Roth individual retirement account (IRA) conversion, experts suggest that timing is crucial in order to maximize tax savings. Roth conversions involve transferring pretax or nondeductible IRA funds to a Roth IRA, allowing for tax-free growth in the future. While there are upfront taxes to be paid on the converted balance, converting early
Spanish bank BBVA made headlines recently with its surprising announcement of a hostile takeover bid for Banco Sabadell, its domestic rival. This unexpected move came after Sabadell’s board rejected BBVA’s initial 12 billion euro takeover offer, citing undervaluation of the bank’s growth prospects. Despite this rejection, BBVA proceeded to take its all-share offer directly to
For the first time in over a decade, the summer movie season kicked off without a Marvel Cinematic Universe film, a shift that has had a noticeable impact on the box office. Usually, Marvel films have been the cornerstone of the summer season, consistently generating massive openings of over $100 million. However, this year, Universal’s
President Joe Biden is aiming to implement a student loan forgiveness plan before the upcoming November presidential election. However, the administration is currently sifting through an overwhelming amount of public comments on the proposal, which were published in the Federal Register. With over 34,000 comments already submitted and more expected before the 30-day public comment
Siemens Energy recently experienced a massive 13% surge in shares following the announcement of its updated forecast and the replacement of the CEO of its wind turbine unit. The decision for Jochen Eickholt to step down by mutual agreement and be replaced by Vinod Philip signals a major shift in leadership within the company. This
The recent decrease in mortgage rates has brought about a slight increase in demand, particularly for refinances. This adjustment in rates has been attributed to a variety of factors, including the slowing job market, wage growth at its slowest pace since 2021, and the Federal Reserve’s revised plans for quantitative tightening and interest rates. According
British neobank Monzo announced that it has secured an additional $190 million in funding, bringing its total raise for the year to $610 million. This significant investment was made by new investors, including Hedosophia and CapitalG, among others. As a result, the latest funding round values Monzo at around $5.2 billion, up from $5 billion
In a historic move, the members of the prestigious Garrick Club in Britain have decided to permit women to join the institution, marking a significant shift in its 193-year history. The decision to allow women into the club, which has been exclusively for men since its establishment in 1831, was made with a 59.98% majority
In the United States, the most common choice for homebuyers seeking a mortgage is the 30-year fixed-rate option. This type of mortgage is considered to be a distinctly American creation, as stated by Greg McBride, who serves as the chief financial analyst for Bankrate. With a 30-year fixed-rate mortgage, borrowers have the advantage of spreading