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☆ He left his desk job in the US to run a food stall in Hong Kong. He earns more now — but plans to walk away from it soon.
▼ + stars: | 2024-05-10 | by ( Faye Bradley | ) www.businessinsider.com time to read: +9 min

Toby To Yan Choi left his accounting job in California to help his father run a food stall in Hong Kong. Dai pai dongs — Hong Kong's open-air stalls serving food with a no-frills approach — are disappearing. The number of dai pai dongs in all of Hong Kong has dwindled to just over 20, according to the Hong Kong Tourism Board. The braised white pepper pork hock is one of the signature dishes at Dai Lee Dai Pai Dong. AdvertisementHe's gotten married since moving to Hong Kong and plans to move back to the US if he and his wife have kids.

Persons: Toby, Yan Choi, Dai pai dongs, —, Santa Barbara, Choi, Dai Lee Dai Pai Dong, pai, Hong Kong, He's, Hong Kong Dai pai dongs, Hong, sizzling woks, Agnes Chee Yan, Wei, pai dongs, Tiffany Leung, Faye Bradley, wasn't, Shawn Cai, Law Chun Chuen, Dai Lee Dai Pai, Yan Choi There's, they've, Tony Lee, Mok Wah Ho, Ales, Yan Choi He's, Betty Richardson, dongs, Chee, I'm Organizations: Service, University of California, Kong's, Hong Kong Tourism Board, China Morning Post, Young Locations: California, Hong Kong, Santa, Hong, Sham Shui, Sham, China, Shanghai

☆ Home Equity Loan Alternative Could Revolutionize the Housing Market
▼ + stars: | 2024-02-28 | by ( James Rodriguez | ) www.businessinsider.com time to read: +16 min

Like a lot of homeowners, Schummer was keen to convert some of his theoretical wealth into real cash. These kinds of deals, often referred to as home-equity-sharing agreements or home-equity investments, have existed on the fringes of housing finance for decades. The success or failure of home-equity investments could shape the future of homeownership in America. If the home's value has gone up, everyone wins; sell it for a loss, and the investor might share in that downside. "Over time for us, the customer becomes everybody," Eoin Matthews, the chief business officer and a cofounder of Point, told me recently.

Persons: Kennis Schummer, Schummer, Laurie Goodman, Goodman, he'd, Eoin Matthews, —, Hometap, Jim Riccitelli, Riccitelli, Adam Rust, Rust, Rust wasn't, I'm, Jordan Gilberti, Holly Bunting, Mayer Brown, Edwin Remsberg, Matthews, they'd, Jeffrey Glass, Glass, I've, he's Organizations: Consumer, Urban Institute, Federal Reserve, Bain Capital, Palisades Group, Redwood Trust, Getty, Consumer Federation of America Locations: Pensacola , Florida, California, homeownership, America, Connecticut, Maryland, Florida

☆ Fed's favorite inflation gauge looms next week — plus, what we want from 2 portfolio earnings reports
▼ + stars: | 2024-02-24 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Wall Street returned to its winning ways this week — and Nvidia 's blowout earnings report Wednesday night was a big reason why. Twenty-six of our 32 portfolio stocks have delivered their results this earnings season (we didn't own Abbott Labs at the time of its report). It was a muted week for macroeconomic data, but we did get a slightly better-than-expected January existing home sales report on Thursday. In the week ahead, two more Club names are set to report earnings before a market-moving economic update arrives Thursday morning. The two other reports of note are the January new home sales report on Monday and ISM Manufacturing report on Friday.

Persons: Dow, we'll, bode, We're, Li Auto, Krystal, Arcutis, MARA, Iovance, Goldman Sachs BDC, CRON, BUD, Papa, LEV, Ginkgo, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nvidia, Nasdaq, Dow Jones, Dow, Palo Alto Networks, Bausch Health, Coterra Energy, Abbott, Companies, TJX, Marshalls, TJX Companies, Berkshire Hathaway, Krystal Biotech, Alpha Metallurgical Resources , Inc, Fidelity National Information Services Inc, Animal Health, ELAN, Public Service Enterprise Group, Surgery Partners, BioCryst Pharmaceuticals Inc, Outdoor Holdings, Enlight Renewable Energy Ltd, Kosmos Energy, Playtika, Video Communications, TiRobot Corp, IRB, SBAC Communications Corporation, HEICO Corporation, FS KKR, Archer Aviation Inc, TransMedics, Sterling Construction Company, AES, Cruise Line Holdings, Lowe's Companies, American Electric Power Company, Bank of Nova, APLS Pharmaceuticals, Bank of Montreal, BMO, Devon Energy, Solar Inc, Technologies, Lab, Virgin Galactic Holdings, Splunk Inc, eBay, EBAY, Luminar Technologies, Agilent Technologies, G Foods, Masimo Corp, Baidu, Parts Inc, Icahn Enterprises, Viatris Inc, ACM Research, Golden Ocean Group, EMCOR, Industries, NRG Energy, Dycom, Editas, UWM Holdings Corporation, Vistra Energy, Marathon Digital Holdings, AMC Entertainment Holdings, Paramount Global, IonQ Inc, International, HP, Monster Beverage Corporation, Cronos, Birkenstock Holding, Anheuser, Busch InBev, Body, Brink's Company, Flags Inc, Papa John's, ACI, Hormel, Lion Electric Company, BlackRock TCP, Dole plc, DOLE, Fisker Inc, Dell Technologies, Ginkgo Bioworks Holdings, Autodesk, Green Brick Partners, Hewlett Packard Enterprise, Veeva Systems, INTTEST Corporation, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: New York City, U.S, Salesforce, Maxx, Bank of Nova Scotia, BlackRock, Cayman

☆ Here are Thursday's biggest analyst calls: Tesla, Apple, Boeing, IBM, Meta, Microsoft, Rivian, Amazon & more
▼ + stars: | 2024-01-25 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Goldman Sachs reiterates Apple as buy Goldman said it's standing by the tech giant heading into earnings on February 1. Bank of America reiterates Meta as buy Bank of America raised its price target on Meta to $425 per share from $405. Piper Sandler reiterates Microsoft as overweight Piper warned investors in a note on Thursday not to "sleep" on Microsoft Cloud. Bank of America downgrades Boeing to neutral from buy Bank of America said in its downgrade of the stock that it sees too much regulatory scrutiny. Bank of America upgrades Heico to buy from neutral Bank of America said investors should buy the dip in the aerospace and electronics aftermarket company. "

Persons: Needham, Rivian, Morgan Stanley, Tesla, Goldman Sachs, ServiceNow, Goldman, it's, TAL, BTIG, Jefferies, Wells, Piper Sandler, Piper, JPMorgan downgrades Hertz, JPM, Hertz Organizations: Bank of America, IBM, Revenue, Apple, JPMorgan, Tal, Bloom Energy, Gray Customers, Amazon, " Bank of America, Meta, DuPont, Microsoft, Deutsche Bank, Avis, Deutsche, Boeing, Alaska Airlines, of America Locations: ServiceNow, China, Bloom

☆ Vote counting begins in closely watched Taiwan election
▼ + stars: | 2024-01-10 | by ( Clement Tan | ) www.cnbc.com time to read: +9 min

With China intensifying its rhetoric on its claim over Taiwan, global observers are billing this Taiwan election as highly pivotal for security in the Asia-Pacific at a time of testy U.S.-China relations. If Lai and Hsiao win the Jan. 13 vote for the Taiwan presidential office, it would mark the first time any political party has stayed in office for more than two consecutive terms since Taiwan introduced direct presidential elections in 1996. Campaign posters for various legislative member candidates in Taipei, Taiwan, on Wednesday, Dec. 27, 2023. China's Taiwan affairs office has characterized the self-ruled island's election as a choice between "peace and war, prosperity and decline." "China has always meddled whenever there is an election in Taiwan, but this time, it's the most serious."

Persons: Hou Yu, Hei Leung, Ko Wen, policymaking, Tsai Ing, Ko, Cynthia Wu, Jing Bo, jiun, Sam Yeh, Jing, Tsai, Lai Ching, Hsiao, United States —, Lai, Timothy S, Rich, Jaw Shaw, kong, Hou, Kevin Luo, Xi Jinping, Joe Biden, Xi, Biden, Nancy Pelosi, Rong Xu, Democratic Progressive Party Lai Ching, Yasuyoshi Chiba, DPP's Lai, Weeks Organizations: ih, Anadolu, Getty, Democratic Progressive Party, Kuomintang, Taiwan People's Party, China, Local, KMT, Taiwan Studies, University of Oxford, AFP, Taiwan, Rich Western Kentucky University, Taiwan's National Police Agency, New, DPP, University of Minnesota, Western Kentucky University, U.S, China -, APEC, CNBC, Former U.S, Bloomberg, Taiwan's DPP, Beijing, Cross Straits Service Locations: Taichung, Taiwan, Taipei, Asia, Pacific, U.S, China, Hsinchu, United States, Overconfidence, New Taipei City, China - U.S, Beijing, Taiwan Strait, Kaohsiung

Student-led demonstrations have taken place on college campuses across the U.S. since the start of the Israel-Hamas war last month. Photo: Chin Hei Leung/Zuma PressRising tensions on campuses related to the Israel-Hamas war have led to widespread calls for colleges to do more to protect Jewish students from bigotry and threats of physical harm. A group of more than 30 Modern Orthodox high schools has joined donors, alumni and law firms in calling on colleges to rein in antisemitism after a rash of protests and antisemitic incidents on campuses that have left many Jewish students deeply unnerved.

Persons: Chin Hei Leung Organizations: Hamas, Zuma Locations: Israel

☆ Jewish Students, Stand Tall
▼ + stars: | 2023-10-24 | by ( ) www.wsj.com time to read: 1 min

A man draped in an Israeli flag walks through a group of anti-Israel protesters in University District, Wash., Oct. 13. Photo: Chin Hei Leung/Zuma PressAnti-Semitism has reared its hideous head at many American universities, and now, as Dovid Efune notes in “Give Me The Biggest Kippah You Can Find” (Houses of Worship, Oct. 20), some Jewish students are voicing concern about their safety. Don’t cave to the loud and brainwashed. I’d encourage those students to think about it this way: If you lived in Israel right now, instead of facing loud chants, hateful placards and indifferent administrators, you would be facing rockets—and worse. Israelis your age are in a fight for their lives, while all you have to do is hold your head high and fight back with your words.

Persons: Chin Hei Leung, Dovid Efune Organizations: Zuma Locations: Israel, University District

☆ The culinary delights hidden inside Hong Kong’s markets
▼ + stars: | 2023-10-20 | by ( Maggie Wong | ) edition.cnn.com time to read: +11 min

Hong Kong CNN —Offering everything from Michelin-endorsed dim sum to juicy smoked goose served in a world-renowned restaurant, Hong Kong is home to some of the finest culinary experiences on the planet. But don’t fret – we have put together a list of eight top-quality Hong Kong markets along with some of the best dishes to try. Queen Street Cooked Food MarketQueen Street Market serves some of the most authentic Chiuchow -- a regional Cantonese cuisine -- dishes. Maggie Wong/CNNA foodie haven in the north of Hong Kong, Yuen Long is a hub for both modern and traditional eateries. The relatively run-down look of the Fa Yuen Street Cooked Food Market inside only adds to the charm.

Persons: ”, Lui Ka Chun, Kongers, Lui, “, Wai Kee, Maggie Wong, Kau Kee, ngau, jyu beng, Kan, Hong Kong’s, Lok Yuen, yuen yeung, Tsang Kee, Chan Chun Kee, suckling, Tai Po Hui, Lam Kee, Tung Kee, Ping Kee, Ng Zai Kee, Bon, Tsun, CNN Kwun, Long, Tim Kee, Yuen Long, it’s, Kee’s, Fa, Mui Kee Congee, Shau Kee Wan Organizations: CNN, Hong Kong CNN, Michelin, Lok, Market, Queen, Thai &, Thai & Vietnam Cuisine, ABC, Tai Po Hui, Food, hawker, Hong Kong’s, Fa Yuen, Kitchen Locations: Hong Kong, Hong, hawker, Kong’s, Kan Kee, Kowloon City, Kowloon Walled City, Lok, Beijing, Thai, Thai & Vietnam, Tai Po, New Territories, Shanghai, Kwun Tong, CNN Kwun Tong, Kowloon, Sichuan, Yuen, Mong Kok, Aldrich, Aldrich Bay, Shau

☆ A US astronaut involuntarily set a record for time spent in orbit, after his mission home was aborted and added 6 months to his trip
▼ + stars: | 2023-09-28 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +4 min

US astronaut Frank Rubio landed back on Earth Wednesday after 371 days in space. AdvertisementAdvertisementUS astronaut Frank Rubio became an unwilling record-holder after spending 371 days on the International Space Station (ISS), the longest time spent on a single spaceflight by any NASA astronaut. A broken ride extended the missionRubio set off for the ISS on the Soyuz MS-22 spacecraft on September 21, 2022. With his flight, Rubio beat the previous US record-holder Mark Vande Hei, who spent 355 days in space. Russian cosmonaut Valeri Polyakov spent 437 days aboard the Mir space station in the 1990s.

Persons: Frank Rubio, —, Rubio, wouldn't, Sergey Prokopyev, Dmitri Petelin, It's, Mark Vande Hei, Valeri Polyakov, Thomas Pesquet, NASA Rubio, Bill Nelson, Nelson Organizations: Service, Space, NASA, Soyuz, CNN, Ars Technica, SpaceX, ISS Locations: Russian, French, USA

☆ NASA’s Frank Rubio returns home from space station
▼ + stars: | 2023-09-27 | by ( Jackie Wattles | Kristin Fisher | ) edition.cnn.com time to read: +6 min

CNN —Record-breaking NASA astronaut Frank Rubio has finally returned to Earth, feeling the pull of the planet’s gravity for the first time in more than a year. The crew’s arrival marked the end of a long — and unexpected — journey for Rubio, who had been slated to spend only six months aboard the International Space Station. Rubio bested the previous record for the longest stay in space by a US astronaut — 355 days — which was set by NASA’s Mark Vande Hei in 2022. A view shows the Soyuz MS-23 spacecraft (on left) that carried Roscosmos cosmonauts Sergey Prokopyev and Dmitry Petelin and NASA astronaut Frank Rubio back to Earth. Space station crew rotationThe Soyuz MS-24 vehicle was finally ready this month and carried NASA astronaut Loral O’Hara and Roscosmos cosmonauts Oleg Kononenko and Nikolai Chub to the space station on September 15, paving the way for Rubio’s return on Wednesday.

Persons: Frank Rubio, Rubio, Sergey Prokopyev, Dmitri Petelin —, Dmitry Petelin, Konstantin Borisov, Reuters Rubio’s, “, ”, ’ ” Rubio, —, NASA’s Mark Vande Hei, Valeri Polyakov, Prokopyev, Petelin, Roscosmos, couldn’t, Loral O’Hara, Oleg Kononenko, Nikolai, Rubio’s Organizations: CNN, NASA, Russian Soyuz, Space, Soyuz, Reuters, Houston, Roscosmos Locations: Kazakhstan, Russian, Dzhezkazgan, Ukraine, United States, Russia

☆ U.S. astronaut Rubio and two Russian cosmonauts land in Kazakhstan
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +3 min

[1/3] A view shows the Soyuz MS-23 spacecraft (L) carrying Roscosmos cosmonauts Sergey Prokopyev, Dmitry Petelin and NASA astronaut Frank Rubio, who get prepared to leave the International Space Station and head for a parachute-assisted landing on the steppe of Kazakhstan, September 27, 2023. "The crew have returned to earth after a year on the ISS," Russia's Roscosmos, Russia's space corporation, said after the landing on time at 1117 GMT. Rubio, who is 47 and on his first space voyage, travelled back to Earth with Russian cosmonauts Sergey Prokopyev, 48, and Dmitry Petelin, 40. That gave the two Russians and Rubio an unexpectedly extended mission of 371 days in orbit. On Sept. 11, Rubio surpassed the previous NASA record of 355 consecutive days in space set by now-retired U.S. astronaut Mark Vande Hei.

Persons: Sergey Prokopyev, Dmitry Petelin, Frank Rubio, Konstantin, Rubio, he's, Prokopyev, Mark Vande Hei, Russia's Valeri Polyakov, Polyakov, Roscosmos, Guy Faulconbridge, Steve Gorman, Mark Trevelyan, Gareth Jones Organizations: NASA, Space Station, U.S, Space, Soyuz, Army, Blackhawk, Thomson Locations: Kazakhstan, ALMATY, Zhezqazghan, Moscow, Los Angeles, Miami, U.S, Bosnia, Afghanistan, Iraq

A NASA astronaut and two Russian cosmonauts returned to Earth on Wednesday after being stuck in space for just over a year. American Frank Rubio set a record for the longest U.S. spaceflight — a result of the extended stay. Rubio spent more than two weeks longer in space than Mark Vande Hei, who held NASA's previous endurance record for a single spaceflight. Russia holds the world record of 437 days, set in the mid-1990s. The Soyuz capsule that brought Rubio and cosmonauts Sergey Prokopyev and Dmitri Petelin back was a replacement launched in February.

Persons: Frank Rubio, Rubio, Mark Vande Hei, Sergey Prokopyev, Dmitri Petelin, Denmark’s Andreas Mogensen, Prokopyev, “, ” Rubio Organizations: NASA, Earth, Soyuz, International Space, Engineers, Helicopters, Army, U.S . Naval Academy, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: Kazakhstan, Russia, Point, Petelin

NASA astronaut Frank Rubio now holds the record for the longest U.S. spaceflight. Rubio surpassed the U.S. space endurance record of 355 days on Monday at the International Space Station. But their stay was doubled after their Soyuz capsule developed a coolant leak while parked at the space station. By then, Rubio will have spent 371 days in space, more than two weeks longer than Mark Vande Hei, the previous U.S. record holder for a single spaceflight, Russia holds the world record of 437 days, set in the mid-1990s. “Your dedication is truly out of this world, Frank!” NASA chief Bill Nelson said via X, formerly known as Twitter.

Persons: Frank Rubio, Rubio, Mark Vande Hei, Frank !, Bill Nelson Organizations: NASA, Space, Twitter, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Department of Science Education, AP Locations: Russia, Kazakhstan

☆ Astronaut Frank Rubio sets US record for longest trip in space
▼ + stars: | 2023-09-11 | by ( Jackie Wattles | ) edition.cnn.com time to read: +7 min

CNN —Astronaut Frank Rubio has now been in low-Earth orbit for more than 355 days, breaking the record for the longest space mission by a US astronaut. Rubio — who has been on the International Space Station since September 2022 — bested the previous record, held by retired NASA astronaut Mark Vande Hei, at 1:40 p.m. NASAIn the record booksIf all goes to plan, and Rubio departs on September 27, his 371-day stay will not be a world record for the longest space mission. She now serves as a private astronaut for Axiom Space, which so far has hosted two commercial trips to the space station that have allowed paying customers to experience a trip to the orbiting laboratory alongside a veteran professional astronaut. During his stay in space, Rubio has seen several crews of astronauts rotate through via SpaceX vehicles.

Persons: Frank Rubio, Rubio —, —, Mark Vande Hei, Rubio, crewmates, Sergey Prokopyev, Dmitri Petelin —, Roscosmos, Rubio’s, Vande Hei, Bill Nelson, Frank ! ” Rubio, Valeri Polyakov, Vande Hei’s, Scott Kelly, Gennadi Padalka, Peggy Whitson, Whitson, Anna Kikina, Joel Montalbano, ” Montalbano, European Space Agency — Organizations: CNN, Space Station, NASA, Russian Soyuz, Soyuz, SpaceX, Roscosmos, Space, Russian, Japan Aerospace Exploration Agency, European Space Agency Locations: Russian, Roscosmos, Russia, United States, Ukraine

☆ Germany has finally figured out how to build more ammo for the 1960s-era cannon Ukraine is using to blast Russian drones
▼ + stars: | 2023-09-05 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

Ukraine has been using Cold War-era Gepard cannons to take down Russian drones and missiles. A German arms manufacturer plans to send 300,000 35mm rounds to Kyiv for its Gepards. Ukraine has relied heavily on its arsenal of Gepards provided by Germany to blast low-flying Russian drones and missiles out of the sky. It took existing 35mm ammunition from infantry fighting vehicles and modified it for the Gepard, which needed its fire control unit to recognize the new munitions. A Gepard gun successfully fired the ammunition in May, and Rheinmetall said on Sunday that "a first lot" of 35mm ammunition is now on its way to Ukraine.

Persons: Jacob Bradford One, SERGEI SUPINSKY Organizations: Service, NATO, Factory, Rheinmetall AG, Ukraine, US Army, Rheinmetall, Getty Locations: Ukraine, Wall, Silicon, Germany, Kyiv, Switzerland, German, Poland, Berlin, AFP, Moscow, Russia, Ukrainian

☆ NASA's SpaceX Crew-6 astronauts depart space station after Hurricane Idalia clears Florida
▼ + stars: | 2023-09-03 | by ( Jackie Wattles | ) edition.cnn.com time to read: +3 min

CNN —Four astronauts concluded their six-month stay aboard the International Space Station on Sunday and are heading for a splashdown off the coast of Florida days after Hurricane Idalia ravaged parts of the state. The astronauts, members of the Crew-6 mission run jointly by NASA and SpaceX, boarded their Crew Dragon capsule on Sunday and departed the space station at 7:05 a.m. Over the past week, the Crew-6 astronauts have worked to welcome and hand over operations to the Crew-7 team members, who arrived at the space station on Sunday. During their stint in space, the Crew-6 astronauts were slated to oversee more than 200 science and tech projects. But the Russian Soyuz spacecraft that carried him and two Russian colleagues to the space station sprang a coolant leak late last year.

Persons: Hurricane, Stephen Bowen, Warren “ Woody ” Hoburg, Alneyadi, Andrey Fedyaev, ” Hoburg, “, It’s, Hoburg, Frank Rubio, Rubio, Mark Vande Hei, Rubio’s, “ We’ve, “ Frank, … Organizations: CNN —, NASA, SpaceX, Carolinas, United, CRS, International Space Station, Russian Soyuz Locations: Florida, Gulf Coast, Georgia, United Arab Emirates, Russian, American, Saudi Arabia, Roscosmos

☆ Climate change turns US utilities grimly exciting
▼ + stars: | 2023-08-31 | by ( Robert Cyran | ) www.reuters.com time to read: +6 min

A hotter and stormier world is making life unpleasantly exciting for shareholders, as Hawaiian Electric Industries (HE.N) shows. Yet while European firms have buried power lines underground to avoid damage from storm and fires, American utilities have generally balked. The firm said a second fire began in the same area several hours later, after the utility had turned off local power lines. Separately, Hawaiian Electric Industries, the parent company of Hawaiian Electric, said on Aug. 24 it had suspended its dividend. The company said HEI had withdrawn $170 million and Hawaiian Electric had withdrawn $200 million from their existing revolving unsecured credit facilities to strengthen their balance sheets.

Persons: Joe Biden, Jill Biden, Josh Green, Jaime Green ,, Lady of, Kevin Lamarque, HEI, Fitch, Lawrence, Peter Thal Larsen, Sharon Lam, Aditya Sriwatsav Organizations: Hawaii, REUTERS, Reuters, Hawaiian Electric Industries, United, Utilities, Hurricanes, Lawrence Berkeley National, Edison International, Consolidated Edison, Dow, Maui, Hawaiian Electric, Electric, Thomson Locations: Lady of Hawaii, Lahaina, Maui, Hawaii, U.S, United States, Americas, Europe, Alaska, California, New York, Arkansas , Louisiana, Texas

☆ Here are 2 major themes to watch in the week ahead after Friday's market rally
▼ + stars: | 2023-08-26 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

As August is known to be, it's been a rough month-to-date for all three of those stock market benchmarks so far. This past week, the overall market was oversold, according to Jim Cramer's trusted S & P Oscillator. After Friday's strong finish, we'll see if the market's oversold condition abates as two major themes play out in the week ahead: Earnings from two Club names — Salesforce (CRM) and Broadcom (AVGO) — and key economic reports ahead of September's Fed meeting. Outside of the labor market and inflation, we'll also get a look at the housing market with the pending home sales on Wednesday. As we heard from fellow Club name Palo Alto Networks (PANW) last week, companies are growing more cautious and more closely scrutinizing large sales deals.

Persons: Jerome Powell's, Powell, it's, Jim Cramer's, Friday's, —, It's, we've, we'll, we're, Salesforce, AVGO, We're, Brown, Forman, Campbell Soup, LULU, Jim Cramer, Jim, Angela Weiss Organizations: Nasdaq, Federal, Nvidia, Dow Jones, Broadcom, Fed, Labor, Club, Palo Alto Networks, VMWare, HEICO Corporation, Bank of Montreal, BMO, Bank of Nova, Hewlett Packard Enterprise, HP, PVH Corp, Patterson Companies, Veeva Systems, UBS, Academy Sports, Hormel, Signet Jewelers, Dell Technologies, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, AFP, Getty Locations: Jackson Hole , Wyoming, China, Bank of Nova Scotia, New York City

☆ Hawaiian Electric engages with Guggenheim after Maui wildfire scrutiny
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

Aug 22 (Reuters) - Hawaiian Electric Industries (HE.N) said on Tuesday it was seeking advice from boutique advisory firm Guggenheim Securities, after questions were raised over the utility's role in the Maui wildfires. "We are seeking advice from various experts as we position HEI and Hawaiian Electric to be the strong, financially healthy local utility that the people of Maui and Hawai‘i need over the long term," the company said. Shares of Hawaiian Electric, which were down 2.4% at the open, reversed course, and were up 1.3% at $13.21 in afternoon trading. Fitch on Monday downgraded Hawaiian Electric's credit rating to junk status, becoming the third ratings agency to flag risks associated with the utility's potential exposure to liabilities related to the wildfire. Fitch said potential liabilities could be above $3.8 billion, which represents an "existential threat" to the company.

Persons: HEI, Fitch, Arunima Kumar, Arshreet Singh, Krishna Chandra Organizations: Hawaiian Electric Industries, Guggenheim Securities, Electric, Thomson Locations: Maui, Hawaii's, Honolulu, Lahaina . Fitch, Bengaluru

☆ Why are Treasury yields so high and what does it mean for you?
▼ + stars: | 2023-08-18 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

On Thursday, the yield on the US 30-year Treasury bond hit its highest since 2011 and the 10-year note notched its best return since October 2022. Bond yields go up as bond prices fall. What it means: Higher bond yields could mean bad news for stocks: Bonds compete with stocks for investors’ dollars, and when yields go up, equities often go down. If international bond yields rise, the demand for US bonds may decrease, meaning the US may have to offer even higher yields to attract investors. Still, whatever happens abroad, Turnquist said the key to bringing Treasury yields down will be a slower US economy.

Persons: Bond, Stocks, Adam Turnquist, Turnquist, ”, ” Taylor, Taylor Swift, QuestionPro, Swift, Krystal Hur, Bryan Mena, Elton John’s, Larry Miller, New York University Steinhardt Organizations: CNN Business, Bell, New York CNN, Federal, Federal Reserve, Atlanta Fed, LPL, Treasury, EU, Bank of, Electric, Hawaiian Electric Industries, Street Journal, P Global, CNN, North, New York University Locations: New York, Bank of Japan, Hawaii, Maui, Lahaina, Los Angeles, American, North America

☆ Hawaiian Electric stock plummets as lawsuits mount and rumors of restructuring grow
▼ + stars: | 2023-08-17 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +2 min

New York CNN —Shares of Hawaiian Electric Industries tumbled more than 20% on Thursday following a report that the largest power provider in Hawaii could be considering restructuring as it faces an onslaught of costly lawsuits for the role it may have played in Maui’s devastating wildfires. The company’s stock is down more than 73% so far this year. Shares plummeted to 13-year lows on Monday after a class action suit was filed alleging that the wildfires ravaging Maui were caused by energized power lines that were knocked down by strong winds. The suit alleges that Hawaiian Electric Industries “chose not to deenergize their power lines during the High Wind Watch and Red Flag Warning conditions for Maui before the Lahaina Fire started,” despite knowing the risks of sparking a fire in those conditions. The report comes two days after S&P Global downgraded Hawaiian Electric and all of its subsidiaries to BB-.

Persons: ”, Jim Kelly, HEI Organizations: New, New York CNN, Hawaiian Electric Industries, Electric Industries “, Street Journal, P Global, Electric, CNN, Hawaiian Electric Locations: New York, Hawaii, Maui, Lahaina, Maui County

☆ Hawaiian Electric’s stock plunges again after S&P downgrades its credit rating
▼ + stars: | 2023-08-15 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

New York CNN —Hawaiian Electric Industries’ stock plummeted another 10% Tuesday after S&P Global downgraded the company’s credit rating to junk. In a statement, S&P Global said the wildfires have placed the company at a higher risk, and that it there is a potential for further credit downgrades. More lawsuits could arise, further jeopardizing the company’s credit rating depending on how successful the plaintiffs are. S&P said that the class action lawsuits could increase risk for the company and deteriorate its credit quality. S&P also placed HEI and its entities on CreditWatch with negative implications, which means the utility’s credit rating could be further downgraded in the near future.

Persons: ”, ” Moody’s, Moody’s, HEI “, Jim Kelly, ” Kelly, HEI, Josh Green Organizations: New, New York CNN, Hawaiian Electric Industries, P Global, Hawaiian Electric, Pacific Gas and, Electric, CNN, Hawaii Gov, HEI Locations: New York, California, Hawaii, Maui, Lahaina, Hawaii’s, HEI

☆ Retired NASA astronaut Scott Kelly describes his UFO experience. 'It turns out it was Bart Simpson, a balloon.'
▼ + stars: | 2023-06-03 | by ( Jessica Orwig | ) www.businessinsider.com time to read: +3 min

Retired NASA astronaut Scott Kelly spent over 8,100 consecutive hours in space. But his UFO experience actually happened on Earth while he was flying off Virginia Beach. But retired astronaut Scott Kelly is here to tell us that many UFO sightings are probably just our eyes playing tricks on us. Kelly was part of a panel that convened on Wednesday at NASA headquarters to discuss UFOs, what NASA now refers to as unidentified aerial phenomenon. Recalling the thousands of hours he spent in space, Kelly said on Wednesday, "Oftentimes, in space, I would see things and I was like, 'That's really not behaving like it should.'

Persons: Scott Kelly, —, Kelly, Bart Simpson, Mark Vande Hei, KIRILL KUDRYAVTSEV, David Spergel Organizations: NASA, Service, Virginia Beach, Space, Getty Locations: Virginia, RIO

☆ The real reasons stores are closing in big cities
▼ + stars: | 2023-05-12 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +9 min

These big chains and others have closed stores in major US cities recently, raising alarm about the future of retail in some of the country’s most prominent downtowns and business districts. How policymakers remake their downtowns — with retail as a crucial attraction — will be crucial to cities’ fiscal health and regional economies. People who are being employed in those stores are losing their jobs” because of crime, New York City Mayor Eric Adams, a Democrat, said in February. San Francisco lost around 6% of its retail establishments from 2019 to 2021, according to the think tank’s research. For example, chain-store closures in New York City have correlated to the products most frequently bought online.

☆ Exotic turtles have been poached to near-extinction in Asia, but in Hong Kong, these species thrive
▼ + stars: | 2023-04-30 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +2 min

Scientists in Hong Kong are trying to save three species of turtles, CNN reports. Meanwhile, the Golden coin turtle, a striped turtle once considered an integral part of Chinese folk medicine, can go for hundreds of American dollars, CNN reported. "The situation has come to a point where it cannot be worse," Sung told CNN. The researchers told CNN that each species' population is now in the hundreds, with the Golden coin turtle being the rarest of all, with only around 100 in Hong Kong. Experts told CNN that since 2015, authorities, including the city's police and local wildlife organizations, seized thousands of illegally hunted turtles.

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