Ford will likely suffer as much as a $1 billion hit to its earnings from a devastating fire at a key supplier’s New York factory last month — with F-150 trucks expected to bear the brunt of the disaster, analysts warned on Wednesday. A late-night fire on Sept. 16 leveled parts of a Novelis aluminum factory in Oswego, New York, and is likely to keep most of the factory down through early 2026.While the Novelis factory acts as a supplier for many automakers, Ford is expected to be hit the hardest. It’s the la ...

Most members of the Federal Reserve’s interest-rate setting committee supported further reductions to its key interest rate this year, minutes from last month’s meeting, released Wednesday, showed.A majority of Fed officials felt that the risk that unemployment would rise had worsened since their previous meeting in July, while the risk of rising inflation “had either diminished or not increased,” the minutes said. As a result, the central bank decided at its Sept. 16-17 meeting to reduce its key rate by a ...

Core Insights - David Ellison, chief of Paramount Skydance, is in discussions with major private equity firms to potentially acquire Warner Bros. Discovery (WBD) for over $60 billion [1][4][7] - Apollo Global Management is reportedly the closest to assisting Ellison with the bid, having previously made a $26 billion offer for Paramount [1][4][9] - Ellison's recent acquisition of Paramount for $8 billion has raised questions about his funding capabilities for the WBD deal, as he currently has around $2.75 billion in cash [7][13] Investment Landscape - Apollo Global Management, led by CEO Marc Rowan, owns multiple TV stations and a significant stake in Legendary Entertainment, positioning it as a strong partner for Ellison [2][4] - Blackstone, another major player, has explored financing options but is currently not interested in participating in the WBD bid [4][11] - Ellison's recent $150 million purchase of the Free Press highlights his ongoing media investments, despite concerns about revenue generation from such acquisitions [8][13] Strategic Considerations - WBD's CEO David Zaslav is actively pursuing a strategy to separate WBD into two units, focusing on growth businesses and cable properties, which may complicate Ellison's bid [15][20] - Zaslav is seeking a price of over $30 per share for the streaming and studio unit, significantly higher than the $22-$24 per share that Ellison's team has indicated for the entire WBD [17][20] - The involvement of foreign capital in the deal could face scrutiny from the Trump Administration, adding another layer of complexity to the negotiations [14]

A group of investors including Nvidia are backing Elon Musk’s xAI in an ongoing funding round that has racked up $20 billion thus far, according to a report.The financing round includes debt and equity in a special purpose vehicle that will buy Nvidia chips and rent them to xAI, people with knowledge of the matter told Bloomberg.Musk’s AI firm will then use the processors for its Colossus 2 project – its massive Memphis data center, the report said. 3 A group of investors including Nvidia are backing Elon ...

The most magical place on earth just got more expensive — again.The Walt Disney Company is hiking ticket prices across the board for its two main US-based theme parks — Disney World in Orlando and Disneyland in Anaheim.News of the price hikes, which go into effect on Wednesday, was first reported by the Disney-centric news site MickeyVisit.com. 5 Tickets to Walt Disney World in Orlando are more expensive as the company hiked prices yet again. Getty ImagesThe steepest increases hit Disneyland’s top-tier ti ...

Nearly 394,000 Toyota vehicles in the U.S. are being recalled due to rearview camera issues that could reduce drivers’ ability to see behind them, posing a safety risk, according to auto regulators.Certain model years 2022-2025 Tundra and Tundra Hybrid vehicles and model years 2023-2025 Sequoia Hybrid vehicles are impacted by the recall, the National Highway Traffic Safety Administration (NHTSA) said.A software error is behind the recall, according to NHTSA.The error may cause the rearview image not to disp ...

JPMorgan Chase CEO Jamie Dimon said Tuesday the bank now spends about $2 billion a year on artificial intelligence – and breaks even on the investment thanks to savings the tech has created.JPMorgan invests heavily each year on AI programs across the company in areas like risk, marketing and customer service, Dimon told Bloomberg TV during an interview.The bank — the largest in the country, by total assets — sees about the same amount in annual savings from those investments, he added. 3 Jamie Dimon said ...

Tesla unveiled more affordable versions of its best-selling Model Y SUV and its Model 3 sedan on Tuesday at $39,990 and $36,990, respectively, as the electric-vehicle maker seeks to reverse falling sales and waning market share amid rising competition.Tesla shares were down 4%shortly before the close.Both versions, called Standard, offer 321 miles (516 km) of range and less powerful acceleration than the current higher trims called Premium. They can be ordered immediately, with deliveries set to start betwe ...

Core Viewpoint - Shares in Trilogy Metals surged nearly 215% following the US government's announcement of a 10% stake acquisition, which includes a $35.6 million investment in the company [1][5]. Group 1: Investment and Stake - The US government will take a 10% stake in Trilogy Metals, which is a small Canadian mining firm with only five employees [1]. - The deal includes warrants for the US government to purchase an additional 7.5% of the company [5]. Group 2: Strategic Importance - The partnership aims to unlock domestic supplies of copper and critical minerals to compete with China's reserves, as Trilogy holds interests in two mineral projects in Alaska, including the Ambler Road project [2][4]. - The Ambler Road project is a 211-mile industrial road that will provide access to significant deposits of copper, cobalt, zinc, and lead across over 1,700 active mining claims [4]. Group 3: Market Context - The minerals involved are essential for energy infrastructure, defense technologies, and manufacturing, highlighting their strategic importance [5]. - China currently dominates the critical minerals supply chain, producing nearly 70% of the world's supply of rare earths and processing about 90% [6].

Core Insights - Gold prices reached $4,000 an ounce for the first time, driven by persistent inflation, a government shutdown, and geopolitical risks [1][4] - Gold has surged over 50% this year, influenced by fears of a prolonged funding crisis and escalating trade tensions [10][19] - The demand for gold has increased significantly from both governments and consumers, with central banks, particularly in China and Russia, boosting their reserves [2][24] Price Movements - Gold futures briefly peaked at $4,005.80 before settling just below that level [1][8] - Spot gold traded at $4,002.10, reflecting a 0.6% increase [2][22] - Silver prices also rose by 1.3% to $48.22, while the dollar index fell by 0.4% [3][22] Market Sentiment - Investors are increasingly viewing gold as a hedge against inflation and political uncertainty, reminiscent of the inflationary environment of the 1970s [6][19] - Prominent investors like Ray Dalio and Ken Griffin have expressed concerns about the long-term stability of the US dollar and the implications of fiscal policies [3][7] - The trend of investing in gold is seen as a response to fears of currency depreciation and market volatility [6][22] Central Bank Activity - Central banks are accumulating gold at a record pace, with over 70% of monetary authorities planning to increase their gold holdings this year [24] - The trend is particularly strong among countries like China, India, and Turkey, indicating a strategic shift in reserve management [24] Economic Context - The current economic environment is characterized by high inflation, record borrowing, and heavy government spending, prompting a flight to hard assets like gold [6][19] - The S&P 500 has risen about 14% this year, but the parallel rise in gold prices suggests underlying investor anxiety about future economic conditions [20][22]