Author: Anthony M. Orbison

By Lisa Baertlein and Abhinav Parmar (Reuters) -FedEx announced the much-anticipated spinoff of its freight trucking division on Thursday, as it restructures its operations to focus on its core delivery business, sending shares in the parcel delivery giant up as much as 10% in after-hours trading. Analysts believe the spinoff could unlock up to $20 billion in shareholder value, while clearing the way for FedEx management to zero in on merging operations of its separate Express and Ground units. They also say FedEx Freight assets were not fully appreciated within FedEx and that spinning that business off as an independent…

It’s not a very safe world. That becomes obvious when you visit the U.S. State Department website and see how many countries are subject to some form of travel warning.All warnings, however, are not created equal. The lightest two travel advisories the State Department issues, Level 1: Exercise Normal Caution and Level 2: Exercise Increased Caution, amount to the government telling you to be careful.Related: Forget Nassau, US adds serious warnings for 2 Caribbean cruise portsFor Level 1 and Level 2 travel advisories, it often makes sense to read the specific warning the department issued. Sometimes it includes areas not…

A decentralized real estate trading platform built on smart contract platform Solana (SOL) saw its price rise and dip after gaining support from Coinbase. Two days ago on the social media platform X, the top US-based crypto exchange platform said it had added Parcl (PARCL), a decentralized exchange (DEX) that lets users trade and invest in real estate using synthetic assets without the need to physically own any property. Synthetic assets are tokenized, blockchain-based representations of real-world assets, such as securities and real property that can easily be swapped. News of the addition caused the token to dip in price…

Unlock the White House Watch newsletter for freeYour guide to what the 2024 US election means for Washington and the worldUS House Republicans have crafted a new spending bill that acquiesces to Donald Trump’s demand to seek a two-year extension to the debt limit in order to avoid a government shutdown by the end of the week.The 116-page bill put forward on Thursday would also extend government spending to March 14 and includes billions of dollars for communities devastated by natural disasters. The president-elect urged Republicans and Democrats to vote for the deal. “SUCCESS in Washington!” he posted on his…

(Reuters) -United States Steel on Thursday forecast a surprise loss for the fourth quarter, sending its shares down nearly 5% in aftermarket trading. The company expects an adjusted loss of between 29 cents and 25 cents for the quarter, compared with analysts’ average estimate of a profit of 16 cents, according to data compiled by LSEG. U.S. Steel projected its fourth-quarter adjusted core profit to be about $150 million, which is below its prior forecast of $225 million to $275 million. Steel prices remained depressed and costs related to the ramp up of its Big River 2 (BR2) facility exert…

It was a sea of red in the crypto industry as Bitcoin price dropped below $100,000 briefly and the crypto fear and greed index moved from the extreme greed zone of 88 to 69. So, why did crypto crash this week? Bitcoin (BTC), he largest cryptocurrency, was trading at $102,300 on Dec. 19, while Ethereum (ETH) dropped to $3,600. Some of the top laggards were coins like Cosmis, Floki, THORChain, Curve DAO Token, and Fantom. Crypto crashed because of the Fed decision The most important reason why the crypto crash happened is the Federal Reserve decision. The bank decided to…

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Transcript:Conway Gittens: I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.The Dow staged a minor recovery Thursday after the federal reserve’s interest rate outlook prompted an 1100-point drop the day before. The rest of the market added to losses. On the bright side, November existing home sales were the strongest since March. Sales were up 6.1 percent over the past 12 months, which is the best annual gain in nearly 3-1/2 years. The median sales price rose to $406,100.Related: Amazon under investigation due to a concerning issueTurning to other business headlines, in what…

In what has been an impressive performance for the cryptocurrency, Ethereum has gained 65% this year, leading many traders to ponder if ETH is bound for a $5,000 all-time high in the fast-approaching 2025. The second largest crypto by market cap could be set to truly make good on its incredible potential.The asset has faced a notable price correction in recent days. The asset has fallen far below the $4,000 psychological level it had reached earlier this month. However, there are still high hopes for how it will fare in the coming year. With the entire sector set to get…

Summary The Fed wrapped up its Open Market Committee meeting and, as expected, lowered the federal funds rate by another 25 basis points. The fed funds target rate is now 4.25%-4.50%. This was the third reduction in the rate-cut cycle, which started in September after the central bank had hiked rates aggressively during 2022 and 2023. Three meetings, three cuts. But based on forecasts released along with the rate decision, it looks like the Fed will refrain from lowering rates in the months ahead at an aggressive rate. While the Fed has clearly shifted its emphasis from solely fighting inflation,…