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☆ Businesses Rush to Sidestep Rate Shock by Paying Down Debt
▼ + stars: | 2022-11-09 | by ( Kristin Broughton | ) www.wsj.com time to read: +7 min

Executives are aggressively paying down debt as higher interest rates increase the cost associated with having debt and businesses face the prospect of a recession. As a result, some are taking steps to rein in expenses and cut interest costs, while others are looking to put cash reserves to work as their bank deposits continue to generate minimal yields. Beauty paid an annual interest rate of 4.9% on the loan, according to Mandy Fields, the company’s chief financial officer. About two-thirds of the loan carried a 5% interest rate that was fixed through a swap, which was set to expire in 2025. The two transactions reduced KAR’s annual interest costs by $70 million, to an estimated $15 million a year, Mr. Loughmiller said.

☆ Republican Ted Budd defeats Democrat Cheri Beasley for U.S. Senate in North Carolina
▼ + stars: | 2022-11-09 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Alex-Seitz-Wald-Circle-Byline-Template.Jpg | Alex Seitz-Wald | ) www.nbcnews.com time to read: +4 min

WASHINGTON — Republican Rep. Ted Budd defeated Democrat Cheri Beasley in North Carolina’s competitive Senate race Tuesday, NBC News projects, letting Republicans retain a seat that will be vacated by retiring Sen. Richard Burr. Both parties spent heavily in the race, though North Carolina Democrats accused the national party of abandoning Beasley in a tight election. And even when others didn’t, we believed in North Carolina and I still do. NBC News exit polls showed that most North Carolina voters rated national economic conditions as not good or poor. Past contests have made national Democrats wary of North Carolina, however.

[1/2] SpaceX Chief Engineer Elon Musk gestures during a joint news conference with T-Mobile CEO Mike Sievert at the SpaceX Starbase, in Brownsville, Texas, U.S., August 25, 2022. REUTERS/Adrees LatifCompanies Twitter Inc FollowTesla Inc FollowWILMINGTON, Del., Nov 7 (Reuters) - As Elon Musk is engulfed in his overhaul of Twitter, the entrepreneur is headed to trial to defend his record $56 billion Tesla Inc pay package against claims it unjustly enriches him without requiring his full-time presence at the carmaker. The disputed pay package allows Musk to buy 1% of Tesla's stock at a deep discount each time escalating performance and financial targets are met; otherwise Musk gets nothing. Does Elon Musk work for the board or does the board work for Elon Musk," said Minor Myers, a professor at UConn School of Law. Myers said if the pay package is rescinded, the board could simply create a new one and do so with McCormick's ruling to guide them.

☆ We expect fixed income to be a good diversifier in 2023, says Wilmington Trust's Meghan Shue
▼ + stars: | 2022-11-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe expect fixed income to be a good diversifier in 2023, says Wilmington Trust's Meghan ShueMeghan Shue, head of investment strategy at Wilmington Trust, joins 'Power Lunch' to discuss the likelihood of more market pain ahead, softening in consumer spending trends over recession fears and tips for navigating market conditions and geopolitical concerns.

☆ Democratic state Sen. Don Davis faces off against Republican Sandy Smith in North Carolina's 1st Congressional District election
▼ + stars: | 2022-11-02 | by ( Hanna Kang | ) www.businessinsider.com time to read: +4 min

Democrat Don Davis is running against Republican Sandy Smith in North Carolina's 1st Congressional District. North Carolina's 1st Congressional District candidatesDavis, first elected to North Carolina's State Senate in 2008, currently represents the state's 5th Senate District. Smith, Davis' opponent, is a business executive, entrepreneur, and real estate investor. Voting history for North Carolina's 1st Congressional DistrictNorth Carolina's 1st Congressional District stretches through a primarily rural part of the eastern side of the state and borders Virginia. The Democratic Congressional Campaign Committee leads all spenders.

☆ At least 7 Republicans vying for a spot in Congress this November were at the Capitol on January 6
▼ + stars: | 2022-11-01 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +9 min

Several Republican candidates for Congress have ties to the January 6 Capitol attack. Van Orden at the time wrote that he had been in Washington, DC, for "meetings and to stand for the integrity of our electoral system as a citizen." A representative for Van Orden did not immediately respond to Insider's request for comment. Smith won a crowded primary against seven other Republican candidates in May and secured Trump's endorsement in September. Jeff Zink is up against Democratic incumbent Rep. Ruben Gallego in Arizona's 3rd Congressional District.

☆ Zelenskyy accuses Russia of creating 'artificial famine' after Moscow suspends crucial grain deal
▼ + stars: | 2022-10-30 | by ( Hyder Abbasi | ) www.nbcnews.com time to read: +5 min

Ukrainian President Volodymyr Zelenskyy accused Russia of creating “conditions of artificial famine” and suggested it should be expelled from the G-20 group of nations on Saturday after Moscow withdrew from a crucial grain export deal. “How can Russia be among the G-20 if it is deliberately working for starvation on several continents?” Zelenskyy said during an address on Ukrainian television. President Joe Biden warned that global hunger could increase because of Russia’s decision to suspend the deal. The U.N. negotiated that deal and that should be the end of it.”Secretary of State Antony Blinken also accused Russia of weaponizing food. The grain deal had restarted shipments from Ukraine, allowing sales on world markets, targeting the prewar level of 5 million metric tons exported from Ukraine each month.

☆ Russia's Lavrov needles Biden over Cuban missile crisis and Ukraine
▼ + stars: | 2022-10-30 | by ( ) www.reuters.com time to read: +3 min

LONDON, Oct 30 (Reuters) - President Vladimir Putin's foreign minister on Sunday needled Joe Biden over Ukraine, saying that he hoped the U.S. president had the wisdom to deal with a global confrontation similar to the 1962 Cuban missile crisis. Russia's invasion of Ukraine has triggered the biggest confrontation between Moscow and the West since the Cuban crisis when the Soviet Union and United States came close to nuclear war. In an interview for a Russian state television documentary on the missile crisis, Foreign Minister Sergei Lavrov said there were similarities to 1962, largely because Russia was now threatened by Western weapons in Ukraine. "I hope that in today's situation, President Joe Biden will have more opportunities to understand who gives orders and how," Lavrov said. Asked what Russia should do now in the current crisis, Lavrov said: "The readiness of Russia, including President Vladimir Putin, for negotiations remains unchanged."

☆ Biden votes early in Delaware for November midterms
▼ + stars: | 2022-10-29 | by ( The Associated Press | ) www.nbcnews.com time to read: +1 min

— President Joe Biden — accompanied by one of his granddaughters, a first-time voter — cast his midterm ballot on Saturday. In-person early voting in his home state of Delaware, where Biden regularly returns for weekends, began Friday. Democrats nationwide have encouraged voters to take advantage of early voting, either by mail-in ballots or at precincts where available to maximize turnout. Biden said he was feeling good about the midterms, which will decide control of Congress for the next two years. He also voted in Delaware last month, when he made a quick, one-day trip for the state’s Sept. 13 primaries.

☆ Biden casts early vote, vows to visit more states in coming days
▼ + stars: | 2022-10-29 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

[1/5] U.S. President Joe Biden arrives to cast his vote during early voting for the 2022 U.S. midterm elections with his granddaughter Natalie, a first-time voter, at a polling station in Wilmington, Delaware, U.S. October 29, 2022. REUTERS/Tasos Katopodis/PoolWILMINGTON, Del., Oct 29 (Reuters) - U.S. President Joe Biden cast an early vote in the crucial Nov. 8 midterm elections on Saturday, joined by his granddaughter Natalie, a first-time voter, and said he would visit more states in coming days to help Democrats fight for every possible vote. "I'm feeling good," Biden told reporters after voting and speaking briefly with an elderly woman in a wheelchair. It's a choice, a fundamental choice," Biden said. "Millions of Americans are casting their ballots against Biden and Democrats' reckless agenda of crime, rising prices, and open borders," he said.

☆ Biden to cast early vote, along with granddaughter, a first-time voter
▼ + stars: | 2022-10-29 | by ( ) www.reuters.com time to read: +2 min

WILMINGTON, Del., Oct 29 (Reuters) - U.S. President Joe Biden will cast an early vote in the crucial Nov 8 midterm elections on Saturday, joined by his granddaughter Natalie, a first-time voter, as Democrats fight for every vote. Polls suggest Democrats could lose control of both houses of Congress, with voter discontent over high inflation spoiling the momentum Democrats had hoped to win from a bitter fight with Repubicans over abortion rights. Voter turnout - usually far lower in midterm elections than in presidential ballot years - will be a critical factor in battleground states, and Democrats are urging voters to cast their ballots early. A total of 19,495,342 early votes have been cast nationwide, according the U.S. The center estimates that 50% of young people aged 18-29 voted in the 2020 presidential election, an 11% jump from 2016, but voter turnout tends to be lower in non-presidential election years.

☆ Biden offers condolences after deadly stampede in South Korea
▼ + stars: | 2022-10-29 | by ( ) www.reuters.com time to read: 1 min

WILMINGTON, Del., Oct 29 (Reuters) - U.S. President Joe Biden offered his deepest condolences after at least 149 people were killed in a stampede at a Halloween event in South Korea, calling the incident tragic. "Jill and I send our deepest condolences to the families who lost loved ones in Seoul. We grieve with the people of the Republic of Korea and send our best wishes for a quick recovery to all those who were injured," he wrote, referring to his wife, first lady Jill Biden. The United States stands with the Republic of Korea during this tragic time." Reporting by Andrea Shalal in Wilmington, Del.

☆ Biden says husband of U.S. House Speaker Pelosi getting better following attack
▼ + stars: | 2022-10-29 | by ( ) www.reuters.com time to read: 1 min

WILMINGTON, Del., Oct 29 (Reuters) - President Joe Biden said on Saturday that Paul Pelosi, the husband of Speaker of the House Nancy Pelosi, is doing better following an attack for which he required surgery. Biden told reporters it looked like the attack was intended for Speaker Pelosi and he urged political actors to condemn political violence. Reporting by Andrea Shalal and Jason Lange; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

$55 BILLION TESLA PAY LAWSUITA shareholder of Tesla wants a judge to find that Musk's Tesla pay package, which is estimated to be worth $55 billion, unjustly enriches Musk. read more read moreTesla has said it does not tolerate discrimination and has taken steps to address workers' complaints. LAWSUITS SPARKED BY MUSK'S TWEETSIn August 2018, Musk sent a tweet that he had "funding secured" to take Tesla private, sending shares sharply higher. Tesla shareholders are suing in Delaware to tighten oversight of Musk's tweets about the company. read moreJPMorgan Chase & Co (JPM.N) also sued Tesla in November for $162.2 million, saying it was forced to reprice Tesla stock warrants after the 2018 tweet.

PHILADELPHIA/WILMINGTON, Oct 28 (Reuters) - President Joe Biden and Vice President Kamala Harris will make a rare appearance together on the campaign trail in Philadelphia on Friday as the duo seeks to boost Pennsylvania Democrats in the closing stretch of the Nov. 8 midterm election. Their visit - Biden's 19th to the crucial battleground state of Pennsylvania since taking office - comes less than two weeks until Election Day. Biden will return to Pennsylvania again next week with former President Barack Obama, underscoring the urgency Democrats feel to replace retiring Republican Senator Pat Toomey. Biden and Harris will speak at the Pennsylvania Democratic Party’s annual Independence Dinner, a major state party event expected to raise more than $1 million. Biden’s 2020 rival, Trump, and his potential adversary in 2024, is expected to campaign in Pennsylvania next weekend as well.

☆ Trade seen boosting U.S. economy in Q3; growth details likely soft
▼ + stars: | 2022-10-27 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

"The devil is in the details, and if you strip out trade, GDP will look a lot weaker than the headline number suggests," said Ryan Sweet, a senior economist at Moody's Analytics in West Chester, Pennsylvania. According to a Reuters survey of economists, GDP growth likely rebounded at a 2.4% annualized rate last quarter after contracting at a 0.6% pace in the second quarter. Wild swings in trade and inventories were behind the contraction in GDP in the first half of the year. A modest rebound in business spending on equipment is predicted after it contracted in the second quarter. Some economists believe inventories, which were the biggest drag on GDP in the second quarter, had a neutral impact on output last quarter.

☆ Wall Street retreats as Fed worries outweigh earnings
▼ + stars: | 2022-10-20 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +3 min

The New York Stock Exchange building is seen from Broad Street in Lower Manhattan in New York, January 20, 2016. But stocks were unable to hold their gains as strong weekly jobless claims and comments from Federal Reserve Bank of Philadelphia President Patrick Harker bolstered concerns about the Fed hiking rates and potentially tilting the economy into a recession. Better-than-expected results thus far has pushed earnings growth expectations for third-quarter for S&P 500 companies to 3.1% from a 2.8% increase earlier in the week, but still well below the 11.1% increase that was forecast at the start of July. Other data showed sales of existing homes fell for an eight straight month, while another reading showed factory activity in the Federal Reserve Bank of Philadelphia's district contracted again in October. The S&P 500 posted 3 new 52-week highs and 23 new lows; the Nasdaq Composite recorded 40 new highs and 204 new lows.

☆ The only US state without commercial airline service is getting 5 new routes to Florida next year — see the full list
▼ + stars: | 2022-10-20 | by ( Taylor Rains | ) www.businessinsider.com time to read: +4 min

Low-cost startup Avelo Airlines is launching five new routes to Wilmington Airport in New Castle, Delaware. Delaware is the only US state without commercial airline service after Frontier Airlines left in June. Low-cost startup Avelo Airlines announced on Thursday that it will open a new base at Wilmington Airport in New Castle, Delaware on February 1. Henryk Sadura/Getty ImagesAvelo will launch twice weekly flights on Mondays and Fridays between Wilmington and Fort Myers starting on February 3. Walter Bibikow/Getty ImagesAvelo will launch twice weekly flights on Wednesdays and Saturdays between Wilmington and West Palm Beach starting on February 4.

☆ A financially independent 26-year-old who built a 250-home neighborhood in the suburbs of Atlanta explains the 6-phase process that goes into completing a new housing development project
▼ + stars: | 2022-10-20 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +10 min

The 26-year-old developer explains what exactly goes into completing a new housing development. His company is wrapping up a 250-home development called Somerset Hills in Fairburn, Georgia, a suburb outside of Atlanta. His team has 10 homes to finish before the development project is complete. Insider spoke to Uboh about what exactly goes into completing a new housing development from the ground-up. Identify your vision and strategyThe first phase of the process is nailing down your vision and strategy for the project.

☆ Biden to campaign for DeSantis rival Crist in November Florida trip
▼ + stars: | 2022-10-16 | by ( Jeff Mason | ) www.reuters.com time to read: +2 min

WILMINGTON, Del., Oct 16 (Reuters) - U.S. President Joe Biden will take on a potential 2024 presidential rival, Florida's Governor Ron DeSantis, in a November campaign event for the Democratic candidate for governor, Charlie Crist. Biden and DeSantis have publicly played nice with each other in recent weeks in the aftermath of Hurricane Ian. During a joint appearance on a trip to survey storm damage in Florida, Biden said the two leaders had worked "hand-in-glove." DeSantis is popular in the Republican Party and has clashed with Biden on multiple policy issues including COVID-19 vaccines, immigration, and abortion rights. Register now for FREE unlimited access to Reuters.com RegisterReporting by Jeff Mason; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

☆ We're closing in on a peak for 10-year treasury yields, says Wilmington Trust's Meghan Shue
▼ + stars: | 2022-10-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're closing in on a peak for 10-year treasury yields, says Wilmington Trust's Meghan ShueMeghan Shue, Wilmington Trust head of investment strategy, joins 'TechCheck' to discuss nearing a peak in the 10-year treasury note yield, predictions for the Fed interest rate easing, and Q4 positioning in growth stocks.

☆ Elon Musk under federal investigation tied to Twitter deal -Twitter court filing
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: 1 min

WILMINGTON, Del., Oct 13 (Reuters) - Elon Musk is under a federal investigation related to his $44 billion takeover deal for Twitter Inc (TWTR.N), the social media company said in a court filing made public on Thursday. Register now for FREE unlimited access to Reuters.com RegisterReporting by Tom Hals in Wilmington, Delaware Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

Infowars founder Alex Jones speaks to the media after appearing at his Sandy Hook defamation trial at Connecticut Superior Court in Waterbury, Connecticut, U.S., October 4, 2022. The plaintiffs were relatives of 20 children and six staff members who were gunned down at Sandy Hook Elementary School in December 2012. The families, meanwhile, suffered a decade-long campaign of harassment and death threats by Jones’ followers, attorney Chris Mattei said. The trial was marked by weeks of anguished testimony from the families, who filled the gallery each day and took turns recounting how Jones’ lies about Sandy Hook compounded their grief. In August, another jury found that Jones and his company must pay $49.3 million to Sandy Hook parents in a similar case in Austin, Texas, where the headquarters of Jones' Infowars conspiracy theory website is located.

The strategy, which transfers pre-tax IRA funds to a Roth IRA for future tax-free growth, may pay off when the market drops because you can buy more shares for the same dollar amount. Here are three of the biggest Roth conversion errors — and the best ways to avoid them. You'll need to compare the break-even point of the upfront levy on pre-tax contributions and earnings to future tax-free growth, she said. But even if the tax-free growth won't exceed the upfront costs during your lifetime, a Roth conversion can still be used as a "wealth transfer tool," Collado said. Of course, this assumes there are heirs to enjoy the future tax savings.

☆ Stocks week ahead: Get ready for earnings season
▼ + stars: | 2022-10-09 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +6 min

We’ll get a better sense this week when several top financial firms and consumer companies report third-quarter earnings. The robust greenback will hurt sales and profits for these firm’s international operations. “Bank balance sheets and capital positions both remain in solid shape,” said KBW analyst David Konrad in a bank earnings preview report. The US government will report the latest monthly reads on consumer prices and wholesale prices next week. The consumer price index, or CPI, is the one investors will be watching most closely.

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