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That's especially true for millennials, for which student-loan debt has been one of many balls in a long-time juggling act of financial challenges. Many have been hoping they wouldn't have any student-loan debt at all come fall — or at least, a much lighter load. And the generation has dealt with all of this while shouldering the lion's share of student-loan debt. Student debt has left a stain on millennials' adulthoodForty-three million borrowers currently share the $1.7 trillion of national student-loan debt. Biden has canceled billions of student loans that are only 0.2% of the totalNow, Biden has taken some steps toward student-loan debt assistance.
Persons: Biden, Forbes, doesn't bode, Joe Biden, he's, hasn't, it's, They've, haven't, Daniela Capparelli, Ayelet Sheffey, Alan Collinge, we've, ROBYN BECK, Elizabeth Warren, Chuck Schumer, I'm, Gen Z, homeownership, Andrew Burton, he'd, Alexander Cockerham, Biden's, Ron Klain, Jen Psaki, Miguel Cardona Organizations: Democratic, MediaNews, Orange, Register, Center for Retirement Research, Boston College, Biden, Department of Education, Student Loan Justice, Getty, CNN, Washington Post, millennials, Yahoo Finance, Reuters, Politico, White, White House, Department of Justice, Education Locations: Sens
Whether the surge will be temporary or inflation is here to stay is still unknown. If higher inflation remains it could sink stocks, which now have historically high valuations. Jeffrey Gundlach, the billionaire investor known in the financial community as the "bond king," made a simple prediction about inflation on Tuesday. I'm guessing 'up,'" Gundlach said in a tweet, referencing the consumer price index, a popular measure for inflation. "Absorbing those bonds if inflation stays high is going to be a really big problem," Gundlach said.
Persons: Jeffrey Gundlach, Gundlach, it's, Mohamed El, Erian, Gargi Chaudhuri, Goldman Sachs, Ryan Detrick Organizations: Bloomberg, Federal Reserve, Yahoo Finance, Reserve, CNBC, LPL, Fed Locations: Americas
BlackRock outlines investment push into private markets
  + stars: | 2021-06-10 | by ( Kate Duguid | ) + 0.99   time to read: +2 min
Larry Fink, Chief Executive Officer of BlackRock, takes part in the Yahoo Finance All Markets Summit in New York, U.S., February 8, 2017. REUTERS/Lucas JacksonBlackRock Inc (BLK.N), the world's largest asset manager, is pushing more aggressively into private market investments, the firm detailed at an investorpresentation on Thursday. BlackRock, in its investor day presentation on Thursday, said alternative investments - including private equity, real estate, hedge funds and venture capital - can offer a market-beating edge. Private market investments recorded 18% revenue growth for the company last year, twice the rate of the broader industry. A spokesperson for BlackRock said this has picked up momentum since the firm in May received a license in China for a majority-owned wealth management venture, the country's fast-growing asset management market.
Persons: Larry Fink, Lucas Jackson, Joe Biden's, Fink Organizations: Yahoo Finance, REUTERS, Lucas Jackson BlackRock Inc, BlackRock, CNBC, Thomson Locations: New York, U.S, BlackRock, China
NY Fed's Williams says now not the time to take action on tapering
  + stars: | 2021-06-03 | by ( Reuters Staff | ) sentiment -0.99   time to read: 1 min
FILE PHOTO: John Williams, Chief Executive Officer of the Federal Reserve Bank of New York, speaks at an event in New York, U.S., November 6, 2019. REUTERS/Carlo Allegri(Reuters) - While it makes sense for Federal Reserve officials to begin discussing their options for adjusting monetary policy, the U.S. economy is still far from the point at which the central bank might begin to withdraw its support, New York Fed Bank President John Williams said on Thursday. “We’re still quite a ways off from reaching the substantial progress that we’re really looking for in terms of adjustments to our purchases,” Williams said during an interview with Yahoo Finance, referring to the Fed’s monthly purchase of $120 billion in bonds. “I just don’t think the time is now to take any action.”
Persons: John Williams, Carlo Allegri, “ We’re, ” Williams, Organizations: Federal Reserve Bank of New, REUTERS, Federal Reserve, New York Fed Bank, Yahoo Finance Locations: Federal Reserve Bank of New York, New York, U.S, New
BlackRock CEO says Shell decarbonisation ruling "not a solution"
  + stars: | 2021-06-03 | by ( Reuters Staff | ) sentiment -1.00   time to read: +2 min
REUTERS/Lucas Jackson/File PhotoBlackRock CEO Larry Fink said the ruling that requires Shell to deepen its planned greenhouse gas emission cuts was an example of a general attitude that failed to address the overall problem. The ruling, which could trigger legal action against other energy companies, is expected to force Shell to shed assets to comply. Shell said it was disappointed with the ruling and planned to appeal. “That (the ruling) doesn’t change the global footprint, that’s not a solution,” Fink told a conference on infrastructure investing. “We’re doing a lot of greenwashing because we’re not changing the carbon footprint of the world.
Persons: Larry Fink, Lucas Jackson, Shell, ” Fink, , we’re, , “ It’s Organizations: MILAN, Royal, Shell, Yahoo Finance, REUTERS, BlackRock, BP Locations: New York, U.S
Glauber Contessoto became a millionaire in April after investing in dogecoin two months prior. Glauber Contessoto, 33, became a 'dogecoin millionaire' after investing his life savings, or $250,000, into the cryptocurrency when it was at $0.045. Then yes, I'm a millionaire," Contessoto told Insider. You can't just make gold," Contessoto told Insider. In my opinion, that's dogecoin," Contessoto said.
Persons: Glauber Contessoto, cryptocurrency, Contessoto, he's, cryptocurrencies, cryptos, bitcoin, dogecoin, that's, Zs, it's, he'll, Elon Musk, 0nly, pansy Organizations: millennials, Yahoo Finance
WASHINGTON (Reuters) -Federal Reserve policymakers have begun to acknowledge they are closer to debating when to pull back some of their crisis support for the U.S. economy, even as they say it is still needed to bolster the recovery and employment. Those bond buys, together with near-zero interest rates, are aimed at easing borrowing costs and encouraging hiring and investment. Fed policymakers have promised to give markets plenty of notice before changing policy, to avoid a repeat of the “taper tantrum” spike in bond yields after former Fed Chair Ben Bernanke surprised markets by flagging a reduction to the Fed’s bond-buying in 2013. Most Fed policymakers have stuck to the view that the recent rise in inflation will prove transitory, given its origins in supply and labor market bottlenecks that will in time get worked out. That would be the highest reading since June 1993 and beyond the Fed’s 2% inflation target.
Persons: Mary Daly, ” Daly, Richard Clarida, ” Clarida, Jerome Powell, Ben Bernanke, Esther George, Clarida Organizations: WASHINGTON, Federal Reserve, San Francisco Federal Reserve Bank, CNBC, Yahoo Finance, Fed, , Kansas Locations: U.S, San Francisco, ,
Fed's Bullard: financial stability poses potential risk for economy
  + stars: | 2021-05-24 | by ( Reuters Staff | ) sentiment -0.74   time to read: 1 min
FILE PHOTO: St. Louis Fed President James Bullard speaks about the U.S. economy during an interview in New York February 26, 2015. REUTERS/Lucas Jackson/File Photo(Reuters) - Federal Reserve Bank of St. Louis President James Bullard said on Monday that the Fed is taking financial instability on board as a “potential risk” for the U.S. economy as the pandemic nears an end and the recovery gains steam. “We monitor financial stability very closely,” Bullard told Yahoo Finance. “I would say instability risks are higher than normal, but still not at an alarming level.”
Persons: Louis, James Bullard, Lucas Jackson, Louis President James Bullard, ” Bullard, Organizations: Louis Fed, REUTERS, Federal Reserve Bank of St, Yahoo Finance Locations: U.S, New York
Cardboard-box makers are facing supply issues as demand surges along with the prices of raw materials. Thomas Ryan, the director of corporate communications at International Paper, said that the reason was multifaceted. A large Amazon supplier, International Paper in 2017 provided about half of the boxes used by the tech giant, according to Yahoo Finance. An Amazon spokesperson did not immediately respond to a request for comment about its cardboard supply. Daniel Nordigarden, a partner at McKinsey & Company's packaging service line, told Supply Management in March that some retailers are looking at plastic alternatives to cardboard packaging "due to a scarce situation."
Persons: Thomas Ryan, Mark Sutton, Sutton, Patrick Fallon, Daniel Nordigarden, Terry Webber, Ryan Organizations: CNBC, Street Journal, Yahoo Finance, Amazon, Financial, McKinsey, Supply Management, American, & Paper Association, AF, PA Locations: United Kingdom
"It's going to put pressure on everyone else," Craig Moffett, of the research company MoffettNathanson, said of the AT&T deal on Yahoo Finance Live. A deal would give Amazon more than 4,000 film titles and 17,000 television episodes to add to its streaming library. Along the way, some media companies once seen as major players — NBC and CBS among them — can no longer rely on their size. LightShed has aggressively advocated for media consolidation to compete with Netflix and Disney. And with more content, companies will operate with more user data, which Venkatesan said could mean better automated recommendations and targeted content creation.
Persons: It's, Oprah Winfrey, , Craig Moffett, James Bond, Peacock, Paul Hardart, Rajkumar Venkatesan, Venkatesan, LightShed, NBCUniversal, that's, Sen, Richard Blumenthal, Conn, Blumenthal, Martin Scorsese Organizations: HBO, CNN, TNT, Food Network, HGTV, Oprah, Oprah Winfrey Network, Travel Channel, Netflix, Disney, Yahoo Finance, MGM, Technology, Apple, Comcast, Paramount, NBC, New York University, University of Virginia, CBS, Media, LightShed Partners, The New York Times
Jeffrey Gundlach REUTERS / Jessica RinaldiBillionaire investor Jeffrey Gundlach warned stimulus checks are distorting markets. The DoubleLine Capital CEO said sustained inflation could hit stock prices. He also warned sustained inflation could hammer stock prices, and suggested bitcoin's recent slump might indicate that market speculation is on the decline. The billionaire founder and CEO of DoubleLine Capital, whose nickname is the "bond king," said multiple rounds of stimulus checks have distorted several parts of the economy. Gundlach linked the cryptocurrency boom and meme-stock frenzy to stimulus checks later in the interview.
Persons: Jeffrey Gundlach, Jessica Rinaldi, Gundlach, we've, they've Organizations: DoubleLine, Yahoo Finance, Netflix, Federal Reserve, Gamestop
Nike will require employees in its Beaverton, Oregon campus to work three days a week in the office. A Wednesday email sent to employees said a hybrid work model was the aim even before the pandemic. Nike will require employees in its 286-acre Beaverton, Oregon, campus to work three days a week in the office, Insider has learned. The timelines and details of employees return to office will vary by country and location, the company said. Upon the return to campus, Nike will also offer more shared workspaces designed for collaboration and a mobile food ordering program for employees, the email outlined.
Persons: Jeff Nichols, we've, Nichols Organizations: Nike, Yahoo Finance, Employees, SEC Locations: Beaverton , Oregon, Oregon, Beaverton
WASHINGTON (Reuters) - Federal Reserve officials grappled on Tuesday with April’s surprisingly weak employment growth, maintaining faith in the U.S. economic rebound but acknowledging the pace of the jobs recovery may prove choppier than anticipated. “I do expect to see good improvement on people wanting to go to work and able to work,” Brainard added. Fed officials, however, have largely discounted the impact of the extra payments on workers’ willingness to seek jobs, arguing that it isn’t the benefit as much as health risks and other problems that are at play. The pace of the labor market rebound has a direct bearing on how the Fed intends to set monetary policy. Fed officials, however, say they expect the pressure on prices to also ease over time, just as the difficulties in the labor market will be resolved.
Persons: grappled, April’s, Mike Blake The, Lael Brainard, ” Brainard, Loretta Mester, Patrick Harker, Mary Daly, Brainard, Biden, ” Mester, , Organizations: WASHINGTON, Federal Reserve, REUTERS, Fed, , Society for, U.S, Cleveland Fed, Philadelphia Fed, San Francisco Fed, Yahoo Finance Locations: U.S, Oceanside , California, Mike Blake The United States, , Washington, stoke
Federal Reserve officials grappled on Tuesday with April's surprisingly weak employment growth, maintaining faith in the U.S. economic rebound but acknowledging the pace of the jobs recovery may prove choppier than anticipated. "There are still concerns over contracting the virus, the need to take public transportation," she said, while many parents are waiting for schools to reopen. "I do expect to see good improvement on people wanting to go to work and able to work," Brainard added. Speaking separatelyto Yahoo Finance, Cleveland Fed President Loretta Mester laid out similar arguments. Slower job growth pushes that moment further into the future even as concerns increase about potentially rising inflation.
Persons: grappled, April's, Lael Brainard, Brainard, Loretta Mester, Mester, " Brainard Organizations: Federal, Fed, Society for, U.S, Yahoo Finance, Cleveland Fed, Thomson Locations: U.S, States, Washington
The world's second-largest cryptocurrency by market value topped $4,000 on Monday. Crypto analyst Megan Kaspar predicts the token could reach between $8,000 to $10,000 by year-end. When ether was trading at around $1,200, crypto analyst Megan Kaspar predicted it would hit $3,400. Fundstrat Global AdvisorsAn even more bullish former Ark Invest analyst James Wang has predicted a $40,000 price target for ether. The boom in DeFi applications is the major catalyst for him too, as he believes the $3 trillion global banking-and-auditing industry could be more efficient with software.
Persons: Megan Kaspar, Kaspar, David Grider, James Wang Organizations: SEC, Yahoo Finance, Fundstrat Global Advisors, Fundstrat Global, Ark
As this handy-dandy history from the newsletter startup chartr shows, that's about the same amount Verizon paid for Yahoo in 2017. As for Verizon, a phone company buying two declining Internet companies, success was never likely. But smaller collections of duller Internet properties have thrived too. Similarly, publicly traded J2 Global runs a digital-only content business of lucrative cats-and-dogs properties like RetailMeNot,, and Speedtest. He is the author of two books: "Inside Apple" (about Apple) and "Wild Ride" (about Uber).
Persons: Steve Jobs, , Jerry Yang, David Filo, Terry Semel, Carol Bartz, Justin Sullivan, Apollo, Uber, Tomas Pueyo, Pueyo, Substack, Adam Lashinsky Organizations: Yahoo, AOL, Apple, Apollo Global Management, Verizon, Microsoft, Netflix, Flickr, Instagram, Google, Hollywood, Warner, Yahoo Sports, Yahoo Finance, Facebook, Red Ventures, CNET, Lonely, J2 Global, J2, The New York Times, Stanford, Territories, Fortune Locations: Sunnyvale, Calif, New York City, San Francisco
Yum Brands, which operates KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill, is also accepting cryptocurrencies. The corporation permitted bitcoin as a valid payment method at Pizza Hut Venezuela last year. Yum Brands also partnered with CryptoBuyer to initiate the launch of crypto payment methods, according to Nasdaq. APAfter provisionally pausing from accepting the cryptocurrency as a valid payment method due to its volatility, Xbox is accepting bitcoin payments for Xbox store credits. Although Amazon does not directly permit bitcoin as a valid payment method, you can buy Amazon vouchers and gift cards through Bitrefill.
Persons: Laszlo Hanyecz, Warren Buffet, Elon Musk, Tesla, Jack Dorsey, Jay, Burger King, Tim Hortons, Cryptobuyer, Taco Bell, CryptoBuyer, Amatil, Sotheby's, Stefan Pepe Organizations: Burger King, AP Restaurant Brands, Yahoo Finance, Yum Brands, Nasdaq, KFC, BitPay, Big, PayPal, AP, eBay, eBay Inc, ., Starbucks, Reuters Locations: India, Africa, Burger, Burger King Venezuela, Taco, Pizza, Venezuela, KFC Canada, Asia Pacific, Australia, New Zealand, New York
said that big tech companies are a "threat to our democracy" and should be broken up. Warren also bashed bitcoin's environmental impact and reiterated her calls for a wealth tax. Elizabeth Warren sat down for an interview with Yahoo Finance's editor-in-chief Andrew Serwer on Thursday and laid into big tech companies, cryptocurrencies, and the ultra-wealthy. But part two is that this is a further demonstration that these giant tech companies are way, way, way to powerful. "We need to break up these big tech companies and we need to do it for two reasons.
Persons: Elizabeth Warren AP, John Minchillo Elizabeth Warren, Warren, Elizabeth Warren, Andrew Serwer, Trump, Donald Trump's, , Andy, it's, Larry Summers Organizations: Yahoo Finance, Democratic, Yahoo, Facebook, SEC, Delphi Locations: Massachusetts, America
The telecom giant just sold Verizon Media to private-equity firm Apollo Global Management for $5 billion. The deal includes Techcrunch, Engadget, Yahoo, AOL, and Verizon's advertising technology. Verizon hoped to use its telecom data to build an advertising and media powerhouse to compete with Google and Facebook. But Verizon Media Group CEO Guru Gowrappan, who will continue to run the company under Apollo, sees it differently. The ad exec theorized that Verizon's ad business could grow under private-equity ownership, though.
Persons: Brian Weiser, Guru Gowrappan, Gowrappan, it's, Hans Vestberg, they've, I'm, GroupM's Weiser, they're Organizations: Verizon Media, Apollo Global Management, Apollo, Verizon, Techcrunch, Engadget, Yahoo, AOL, Google, Facebook, Yahoo Finance, TechCrunch, Verizon Media Group, Service, Media's, Gannett
Shark Tank investor Kevin O'Leary said he has allocated 3% of his portfolio to bitcoin, which he once considered "garbage". O'Leary said in an interview with Yahoo Finance he's working on organizing a "council of sustainability" to include corporations and governments that are mining bitcoin responsibly. O'Leary bought bitcoin as Canada and other countries have eased restrictions on institutional buying of the cryptocurrency. "Shark Tank" investor Kevin O'Leary has allocated 3% of his portfolio to bitcoin and is aiming to bolster sustainability in mining for the world's largest cryptocurrency. He also said he's working on organizing a "council of sustainability" to include corporations and governments that are mining coins responsibly.
Persons: Kevin O'Leary, O'Leary, Yahoo Finance he's, I've Organizations: Shark, Yahoo Finance, Regulators, CNBC, Research, Cambridge University Locations: bitcoin, Canada, Sweden, Argentina
Verizon to offload Yahoo, AOL for $5 billion
  + stars: | 2021-05-03 | by ( Reuters Eva Mathews | Eva Mathews | ) sentiment -1.00   time to read: +2 min
The Verizon logo is seen on the side of a truck in New York City, U.S., October 13, 2016. REUTERS/Brendan McDermidVerizon Communications Inc (VZ.N) is getting rid of its media businesses that include iconic brands Yahoo and AOL for $5 billion, ending an expensive and unsuccessful run in the media and advertising world. Reuters reported that Verizon sought buyers for Yahoo Finance in 2019, and some industry estimates had valued that business alone at around $2 billion. That compares to the roughly $4.48 billion Verizon spent on Yahoo in 2017, betting its 1 billion-plus users would be a fertile audience for online ads. Verizon Media's portfolio also includes online brands such as TechCrunch, Makers, Ryot and Flurry, according to its website.
Persons: Brendan McDermid, HuffPost, Guru Gowrappan Organizations: Verizon, REUTERS, Brendan McDermid Verizon Communications Inc, Yahoo, AOL, Facebook Inc, Google, Apollo, Verizon Media, Reuters, Yahoo Finance, Thomson Locations: New York City, U.S, New York, BuzzFeed
Apollo Buys Yahoo, AOL From Verizon for $5 Billion
  + stars: | 2021-05-03 | by ( Micah Maidenberg | Drew Fitzgerald | ) + 0.94   time to read: +1 min
Apollo Global Management Inc. agreed to pay about $5 billion to acquire Yahoo and AOL from Verizon Communications Inc. as the wireless giant exits its ill-fated foray into the media business. The private-equity firm is paying $4.25 billion in cash for a majority stake in the media assets and providing Verizon with interests in the businesses totaling $750 million. In addition, Verizon will keep a 10% stake in a new company, called Yahoo, that will be formed to operate the business. The Wall Street Journal earlier reported Apollo’s interest in Verizon Media’s business, which mostly struggled to grow against Alphabet Inc.’s Google and Facebook Inc. Verizon Media had about $7 billion in revenue last year. Verizon collected some of the web’s best-known brands starting in 2015 with its purchase of AOL, followed by its 2017 acquisition of Yahoo.
Persons: AOL’s, Tim Armstrong Organizations: Apollo Global Management Inc, Yahoo, AOL, Verizon Communications Inc, Verizon, Street, Inc, Facebook Inc, Verizon Media, TechCrunch, Yahoo Finance
Verizon sells Yahoo and AOL businesses to Apollo for $5 billion
  + stars: | 2021-05-03 | by ( Steve Kovach | ) sentiment -1.00   time to read: +2 min
Verizon will sell its media group to private equity firm Apollo Global Management for $5 billion, the two companies announced Monday. Verizon bought AOL for $4.4 billion in 2015, and it bought Yahoo for $4.5 billion in 2017. Under former AOL CEO Tim Armstrong, the Yahoo and AOL brands were converged into a new online media division within Verizon called Oath. Oath rebranded again as Verizon Media Group in November 2018 and was run by Guru Gowrappan. With the sale of Yahoo and AOL, Verizon signaled it is no longer interested in media, unlike its rivals.
Persons: Tim Armstrong, Armstrong, Guru Gowrappan, Gowrappan Organizations: Yahoo, Inc, AOL Inc, Verizon, Apollo Global Management, AOL, Yahoo Finance, Engadget, Apollo, Google, Verizon Media Group, Netflix, Disney, Comcast, CNBC
Just shy of five years since buying them, Verizon is selling AOL and Yahoo for $5 billion. The new owner is private equity firm Apollo Global Management. After just shy of five years of ownership, Verizon has sold its ownership stake in Yahoo and AOL for $5 billion, the telecoms giant announced on Monday morning. The new company formed by AOL and Yahoo will be known solely as Yahoo, and the new owner is private equity firm Apollo Global Management. "We are big believers in the growth prospects of Yahoo," Apollo senior partner and co-head of private equity David Sambur said in the announcement release.
Persons: David Sambur, Ben Gilbert Organizations: Verizon, AOL, Yahoo, Apollo Global Management, Engadget, TechCrunch, Yahoo Finance, Yahoo Mail, Twitter
Jack Ma may give up his Ant Group stake after making negative comments about Chinese regulation. Businessmen like Ren Zhiqiang and Xiao Jianhua disappeared after criticizing Chinese regulators. The Chinese billionaire and Alibaba founder Jack Ma might give up his stake in Ant Group after being noticeably absent from public life. CNBC's David Faber reported Ma is being "less visible, purposefully" back in January after Yahoo Finance noted the billionaire had not been seen publicly for months. Ant Group, Ma's financial-services company, has drawn the ire of Chinese banks that accused it of stealing business from them.
Persons: Jack Ma, CNBC's David Faber, Ma, Ren Zhiqiang, Xiao Jianhua, Faber, Mad, Vladimir Putin, Ma's, Ant, Ren, Xu Zhangrun, Zhang Xuezhong, Xiao, Meng Hongwei, Meng's, It's Organizations: Ant, Ant Group, Reuters Ant Group, Yahoo Finance, Amazon, Microsoft, Google, Communist Party, New York Times, Reuters, Tomorrow, The Times, Regulators, Guardian, Interpol, BBC Locations: Alibaba, Beijing, Hong Kong, China, France
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