Search Results for 'federal reserve'

Lowey Dannenberg, P.C. is Investigating Illumina, Inc. (NASDAQ: ILMN) for Potential Breaches of Fiduciary Duty by Its Board of Directors

Posted: 10/4/2023 By:
  • NEW YORK, Oct. 04, 2023 (GLOBE NEWSWIRE) --
  • Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, is investigating a potential breach of fiduciary duty claim involving the board of directors of Illumina, Inc. (NASDAQ: ILMN) (“Illumina”).If you are a long-term shareholder of Illumina, and wish to participate, learn more, or discuss the issues surrounding the investigation, please contact Andrea Farah at [email protected] or (914) 733-7256.Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws
  • The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.

Read Article


Why your cellphone will go off with an 'emergency alert' Wednesday

Posted: 10/4/2023 By:
  • At 1:20 p.m. CT, you can expect your cell phone to buzz with an alert, thanks to a test of the emergency alert system from the FCC and FEMA.According to a press release, the Federal Communications Commission and the Federal Emergency Management Agency on Wednesday, October 4 will conduct a nationwide test of the country's Emergency Alert System (EAS) and Wireless Emergency Alert System (WEA).The national test will be executed in two portions, officials said
  • One will be sent to all televisions and radios, the release said, and the other will be sent to all consumer cellphones
  • Both messages are set to occur at 1:20 p.m. CT., according to the release
  • Should the test be postponed due to severe weather or other significant events, the back-up testing date is Oct. 11, the release added
  • WEA test message will be sent to phones only once, officials said, with cell towers scheduled to broadcast the test for approximately 30 minutes
  • According to officials, the message will be accompanied by a "unique tone and vibration
  • "Here's what the test message will say on cell phones, according to the release
  • “THIS IS A TEST of the National Wireless Emergency Alert System.

Read Article


2 Cars 2 Winners: Impact of the St. Francis Foundation!

Posted: 10/4/2023 By:
  • MONROE, La. (KNOE) -
  • Over the last decade, the St. Francis Foundation has been instrumental in elevating care at St. Francis Medical Center in Monroe
  • Since its inception ten years ago, the foundation has raised $5 million dollars for the hospital
  • Funds from the St. Francis Foundation’s 2 Cars 2 Winners Raffle go straight toward Women’s, Children’s, and Critical Care services
  • In the last few years, the hospital used money from the 2 Cars 2 Winners raffle to renovate and update the Pediatric Intensive Care Unit (PICU)
  • St. Francis has the region’s only Level III Neonatal Intensive Care Unit (NICU) and Level II PICU.“The St. Francis Foundation has been a blessing for us in Patient Care Services
  • many nearby hospitals limiting their services, St. Francis is seeing more babies born than ever before
  • You can buy a ticket online here or at Ouachita Valley Federal Credit Union locations, Creed & Creed, Sparks Nissan, Van-Trow Toyota, the St. Francis Medical Center Gift Shop, or the St. Francis Community Health Center.

Read Article


No life jackets among safety fails when Homestead man died on Florida Keys job, OSHA says

Posted: 10/4/2023 By:
  • An overloaded crane, unqualified crane operator and no life jackets led to a Homestead man’s drowning death after a Florida Keys crane collapse, the Occupational Safety and Health Administration said
  • “On the trajectory of swinging the boom, the crane tracks were raising up and the crane flipped over the water,” OSHA said
  • “The pile driving equipment, where [Reyes] was holding himself, dropped into the water with him
  • He was struck, trapped, and sunken to the bottom of the sea by the pile driving equipment
  • Area Office Director Conell Eastmond said: “This tragedy was completely preventable if the company had met its responsibility and followed federal requirements
  • Because of its negligence, a young man needlessly lost his life, and his loved ones are now left to grieve their loss
  • ”You can report workplace safety problems to OSHA either online, calling 800-321-6742 (OSHA) or by visiting the nearest OSHA office
  • This story was originally published October 4, 2023, 9:22 AM.

Read Article


Markets Today: Stocks Rebound as Bond Yields Fall on a Weak ADP Report

Posted: 10/4/2023 By:
  • T-note yields are falling this morning after September's monthly ADP employment report showed fewer jobs than expected, a dovish factor for Fed policy
  • The markets will look to Friday’s monthly U.S. employment report for confirmation that the labor market is slowing
  • Weekly U.S. MBA mortgage applications fell -6.0% in the week ended Sep 29 to its lowest level since 1996
  • U.S. and European bond yields fell back from early gains and are moving lower
  • Japan’s Nikkei 225 today closed -2.28%.The Euro Stoxx 50 today recovered from a 6-1/2 month low and is moderately higher
  • Japanese stocks sold off today on negative carryover from Tuesday’s slide in U.S. equity markets
  • Soaring global interest rates are undercutting stocks on concerns that the Federal Reserve will keep interest rates higher for longer
  • The higher bond yields led to the selling of technology and consumer discretionary stocks and led the overall market lower.

Read Article


An emergency alert test will sound today on all U.S. cellphones, TVs and radios. Here's what to expect.

Posted: 10/4/2023 By:
  • A nationwide test of the federal emergency alert system will be broadcast at approximately 2:20 p.m. EDT to cellphones, televisions and radios across the United States
  • Central Time, or 12:20 p.m. Mountain Time
  • Here's what to know about the upcoming U.S. test:What is an emergency alert?The Federal Emergency Management Agency will conduct today's test in coordination with the Federal Communications Commission
  • Today will mark the seventh nationwide test of the Emergency Alert System
  • This will be the third nationwide test of wireless alerts, and the second nationwide test transmitted to all cellphones, FEMA said in a statement
  • As the Wireless Emergency Alert test is sent out to phones, the Emergency Alert System test will be sent to televisions and radios."With
  • All major wireless providers participate in FEMA's wireless alert system
  • Is it real?'"Exposure to emergency alert tests may prepare people to act quickly in the event of a real emergency, he said.

Read Article


In the Next Pandemic Antiviral Drugs Could Be Key, But Are They Ready?

Posted: 10/4/2023 By:
  • Improving Communication Could Strengthen Federal Efforts to Prevent the Next Major CyberattackWe’ve already seen what can happen when one of the nation’s critical services is disrupted by a

Read Article


Missouri prison guard sentencing for child porn today

Posted: 10/4/2023 By:
  • BONNE TERRE, Mo. –
  • A Missouri prison guard who admitted to assaulting an inmate and possessing child porn will be sentenced Wednesday.37-year-old Carl Hart worked at a state prison in Bonne Terre
  • He told a federal court that an argument with an inmate led to the inmate getting pepper-sprayed
  • Hart admitted to hitting the inmate twice while he was washing off the spray in the shower
  • The former prison guard was also found with child porn in his Dropbox account and on his phone
  • He faces up to 30 years in prison and a $500,000 fine.

Read Article


Why Wall Street investors are freaking out | Business

Posted: 10/4/2023 By:
  • A version of this story first appeared in CNN Business’ Before the Bell newsletter
  • October has a long history of spooking Wall Street, and this week’s market action is serving up a particular dose of terror for traders
  • Here’s why investors are freaking out:Rates and the Fed: A surge in corporate debt sales and rising bond yields have sent stocks lower
  • Stocks often struggle when government bond yields are elevated, since it means investors can get high returns on less risky assets
  • Meanwhile, stronger-than-expected jobs data has exacerbated anxiety that the Fed will decide to keep interest rates higher for longer
  • Mortgage rates are racing towards 8%, after hitting their highest level since 2000 last week
  • Markets continue to reel from a narrowly avoided federal government shutdown last weekend over the fiscal budget
  • Statistical evidence doesn’t quite support the phenomenon, but the level of superstitious caution on Wall Street is real.

Read Article


Dow rallies after weak ADP payrolls data, bond yields ease

Posted: 10/4/2023 By:
  • US stocks recouped some of Tuesday's heavy losses in early trading, although the mood remained cautious ahead of non-farm payrolls on Friday and ongoing political uncertainty
  • Large establishments drove the slowdown, losing 83,000 jobs and wiping out gains they made in August," ADP said
  • Stocks fell sharply on Tuesday after robust jobs vacancies figures gave further credence to the belief interest rates will stay elevated for some to come
  • Bond yields jumped once more and their trajectory will be closely watched again
  • Deutsche Bank’s Jim Reid noted the last 24 hours saw the “relentless bond sell-off continue, with yields rising to fresh multi-year highs on both sides of the Atlantic.”
  • Today, the data driven Federal Reserve will have another indication as to the health of the jobs markets, plus a services sector reading
  • Factory order numbers are also due, and are expected to show an increase of 0.2% after slipping 2.1% in July
  • In corporate news, ExxonMobil is due to release its third-quarter earnings considerations in a regulatory filing, offering a preview of its results.

Read Article


Disclosures in focus with CSA electronic delivery review, OSC exemption for FIs

Posted: 10/4/2023 By:
  • The update provided this week means that this will now be considered alongside a proposed electronic access model for prospectuses and for certain continuous disclosure documents issued in 2022 and the proposed amendments to annual and interim disclosures will not be implemented until the access model has been considered
  • “When we proposed amendments to our continuous disclosure requirements in 2021, we aimed to streamline disclosure requirements and reduce the regulatory burden for public companies while maintaining strong investor protection,” said Stan Magidson, CSA Chair and Chair and CEO of the Alberta Securities Commission
  • “We believe these goals would be best achieved when combined with a model for electronic access to information
  • We are carefully reviewing the feedback on the CSA’s 2022 proposed electronic access model to assess how that could be implemented in parallel with the continuous disclosure amendments
  • ”The
  • OSC’s announcement Tuesday reveals the adoption of OSC Rule 52-503 Exemption from Disclosure of a Specified Financial Measure
  • It provides an exemption in Ontario from certain requirements in National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure for a reporting issuer that is, or that has a subsidiary or an affiliate that is, a “federal financial institution” as defined by the Bank Act (Canada) and subject to the guidelines of the Office of the Superintendent of Financial Institutions.

Read Article


Strong JOLTs quickened stock and bond selloff – Eyes on ADP [Video]

Posted: 10/4/2023 By:
  • Even a hint of an improving US jobs market sends shivers down investors' spines
  • This is why the stronger than expected job openings data from the US spurred panic across the global financial markets yesterday
  • Note that the JOLTS data is volatile, and one data point is insufficient to point at changing trend
  • We still believe that the US jobs market will continue to loosen
  • But the market reaction to yesterday’s JOLTS data was sharp and clear
  • The US yields spiked, equities were sold and the US dollar extended rally
  • Due today, the ADP report is expected to show a significant slowdown in US private job additions last month; the expectation is a meagre 153’000 new private job additions in September
  • Any weakness would be extremely welcome for the rest of the world, while a strong looking data, an - God forbid – a figure above 200K could boost the Federal Reserve (Fed) hawks and bring the discussion of a potential rate hike in November seriously on the table.

Read Article


NESREA, DG win public service awards for environmental technology

Posted: 10/4/2023 By:
  • The National Environmental Standards and Regulations Enforcement Agency (NESREA) has emerged as the best federal agency on the “Use of Environmental Sustainable Technology Implementation” in the country
  • The Bureau of Public Service Reforms (BPSR) announced this in a letter with Ref: BPSR/ICT.20/1/139, conveying news of the prestigious Nigeria GovTech Award recently
  • The Director General (DG) of BPSR, Dr Dasuki Arabi, also revealed the nomination of the DG of NESREA, Prof Aliyu Jauro, for the “Distinguished GovTech Trailblazer’s Award” for exemplary leadership
  • In a statement made available to Daily Trust by the Assistant Director, Media and Publicity of NESREA, Amaka Ejiofor, she quoted Dr Arabi as disclosing that a major criterion for the Distinguished GovTech Trailblazer’s Award was the advancement of government technology initiatives and digital governance in line with the federal government’s digital transformation in the public sector.•
  • Why we killed ex-president of Benue customary appeal court – Suspects• Over N10trn spent on refineries, better sold off – OyedeleHe said the awards would be presented later in October this year after a “nationwide nomination and online voting process initiated on radio, TV and The Punch newspaper of September 4, 2023.”

Read Article


‘Honor to Serve’: Ousted McCarthy Announces He Won’t Run For Speaker Again

Posted: 10/4/2023 By:
  • “I will not seek to run again for Speaker of the House,” McCarthy posted to social media
  • ”When approached by reporters following the vote, McCarthy said emphatically that he feels “great”—but declined to answer any further questions
  • Every House Democrat voted in favor of McCarthy being booted, along with eight House Republicans
  • That was just enough to overrule the vast majority of the GOP conference who supported keeping McCarthy in leadership
  • Andy Biggs (R-AZ), Ken Buck (R-CO), Tim Burchett (R-TN), Eli Crane (R-AZ), Bob Good (R-VA), Nancy Mace (R-SC), Matt Rosendale (R-MT), and Gaetz
  • “They don’t get to say they’re conservative because they’re angry and chaotic,” McCarthy said Tuesday night
  • he isn’t seeking an immediate return to GOP leadership, McCarthy said he “hasn’t thought about” resigning from Congress altogether
  • McCarthy tried to argue that the compromise was necessary to ensure Americans on federal payrolls continued getting paid.

Read Article


All eyes on Virginia’s elections

Posted: 10/4/2023 By:
  • “The stakes have never been higher,” Biden said at a campaign reception in McLean, Va., just outside Washington
  • A GOP landslide would all but ensure Virginia’s exit
  • But several factors could work against a GOP takeover, University of Virginia elections expert J. Miles Coleman told Scott
  • Continued Republican infighting on Capitol Hill also threatens a government shutdown next month — an important issue for a state where many federal workers reside
  • And Democrats could succeed in activating young voters, who are more likely to be concerned about climate change than their peers
  • Power Switch is brought to you by the journalists behind E&E News and POLITICO Energy
  • “Laphonza who?!?” said R.L. Miller, president of Climate Hawks Vote
  • Environmental justice: In the ambitious bid to reinvent South Baltimore, equity concerns remain.

Read Article


With Interest Rates Set to Remain High Into 2025, These 2 Stocks Make Good Sense

Posted: 10/4/2023 By:
  • Tuesday trading saw the S&P 500 lose 1.4% while the Dow fell by a fraction less
  • Not helping the cause were comments from the Cleveland Federal Reserve and Atlanta Federal Reserve presidents
  • Raphael Bostic, Atlanta Fed President, said that he expects interest rates to stay at elevated levels “for a long time,” Barchart’s Rich Asplund reported Tuesday
  • The fact that interest rates could remain high for as long as two years is bad news for some stocks and great news for others
  • If you’re unfamiliar with Intuitive Surgical (ISRG), it is the world leader in robotic surgical systems
  • You won’t see interest expense eating up its operating profits anytime soon
  • Texas Pacific Land (TPL) became a C-Corp. in January 2021, after 133 years organized as a land trust
  • Texas Pacific Land owns 886,000 acres of land in West Texas, a prime oil and gas area.

Read Article


Dow Turns Negative for the Year

Posted: 10/4/2023 By:
  • The Dow Jones Industrial Average has given back all of its gains for the year after job openings rose more than expected in August, suggesting the Federal Reserve has more work to do
  • The Dow dropped 333 points, or 1%, on Tuesday, while the S&P 500 fell 1.2%, and the Nasdaq Composite was off 1.5%.The last time the Dow closed in negative territory this year was June 1, according to Dow Jones Market Data
  • Fed futures have penciled in a 34.9% chance of a rate hike at the November meeting, up from 27.2% on Monday, according to the CME FedWatch Tool.“Any
  • wonder why the Fed expects to raise interest rates again?” wrote Greg McBride, chief financial analyst at Bankrate
  • “With 1.5 job openings for every unemployed worker, there is little evidence of substantial easing in labor market demand, a risk to getting inflation lower.”

Read Article


Technology Sector Update for 10/03/2023: AMZN, MSFT, ODD, LDOS

Posted: 10/3/2023 By:
  • Tech stocks were lower late Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) falling 2% and the Philadelphia Semiconductor index shedding 2.4%.In company news, (AMZN) allegedly made more than $1 billion in revenue through the use of an algorithm described in a US Federal Trade Commission lawsuit against the company, The Wall Street Journal reported Tuesday
  • Amazon shares fell 3.9%.Separately, Amazon and Microsoft (MSFT) are set to face a push by UK media regulator Ofcom for an antitrust probe into their alleged dominance of the cloud computing market in the country, Reuters reported Tuesday
  • Microsoft fell 3.2%.ODDITY
  • Tech (ODD) gained 5% after saying it now expects year-over-year net revenue growth for Q3 to be between 29% and 31%, ahead of its initial guidance of 18% to 23%.Leidos (LDOS) said it obtained a 19-month contract extension from NASA for the production of its Laser Air Monitoring System for Artemis IV and V missions to the moon
  • Leidos shares fell 0.5%.

Read Article


Financial Sector Update for 10/03/2023: VERY, PNC, SLF

Posted: 10/3/2023 By:
  • Financial stocks were lower in late Tuesday afternoon trading, with the NYSE Financial Index dropping 1.8% and the Financial Select Sector SPDR Fund (XLF) off 1.9%.The Philadelphia Housing Index was shedding 2.7%, and the Real Estate Select Sector SPDR Fund (XLRE) fell 1.9%.The yield for 10-year US Treasuries jumped 12 basis points to 4.81%, and bitcoin (BTC-USD) was declining 0.5% to $27,378.In economic news, US job openings rose to 9.6 million in August, according to the Bureau of Labor Statistics, above the 8.8 million expected in a survey compiled by Bloomberg and the 8.9 million reported in July
  • In corporate news, Vericity (VERY) shares surged past 87% after IA Financial Group agreed to buy the company for $170 million
  • PNC Financial Services (PNC) unit PNC Bank said Tuesday it acquired a portfolio of $16.6 billion of capital commitments facilities from Signature Bridge Bank through an agreement with the Federal Deposit Insurance Corp. as receiver
  • PNC Financial Services shares were down 0.4%.Sun Life Financial (SLF) said Tuesday it completed the acquisition of Canada-based Dialogue Health Technologies
  • Sun Life was down almost 2%.

Read Article


Banks are bracing for a recession as Treasury yields surge

Posted: 10/3/2023 By:
  • The tough talk has dampened the year’s rally in stocks and reignited a dramatic selloff in the roughly $25 trillion Treasury market
  • “Right now, there is nothing standing in the way of higher Treasury yields,” Kathy Jones, chief fixed-income strategist at Schwab Center for Financial Research, told MarketWatch
  • Rising Treasury yields are upsetting financial markets
  • Higher yields on newly issued Treasury bonds erode the value of portfolios that include lower coupon debt issued when rates were lower
  • Banks also tend to hold large exposure to commercial property loans that could be difficult to refinance if rates stay higher for longer
  • Potential fallout from higher rates or a recession has been a focus at the Federal Reserve and the Treasury Department
  • The Fed responded with an emergency lending facility for banks to tap for liquidity to prevent forced asset sales
  • The march higher in longer-dated Treasury yields has largely wiped out U.S. bond-market returns for the year.

Read Article


El Paso Woman Posed as Immigration Services Employee, Sentenced to Seven Years in Prison

Posted: 10/3/2023 By:
  • EL PASO, Texas – An El Paso woman was sentenced in a federal court in El Paso to 87 months in prison for wire fraud and impersonating a federal employee
  • Hernandez’s victims provided her with the documentation required to file and adjust their immigration status
  • She was not an employee of CIS and never took any actions to adjust the victims’ status
  • Investigation revealed that Hernandez had amassed thousands of dollars of unexplained wealth within the 18 months coinciding with her fraudulent activity
  • Hernandez pleaded guilty in April to 10 counts of wire fraud and one count of impersonation
  • “My office will prosecute anyone who fraudulently takes advantage of our federal agencies and their beneficiaries, and we will ensure their victims are afforded proper reparations
  • Individuals who impersonate a federal officer and exploit trusting individuals for their own personal gain, will be held accountable for their crimes,” said Special Agent in Charge Francisco B. Burrola for the HSI El Paso Division
  • “HSI will leverage its investigative abilities in order to identify, arrest and prosecute these piranhas in society.”

Read Article


‘I used to have a hidden cell phone due to a DV issue’: Therapist issues PSA about tomorrow's FEMA cell phone alert

Posted: 10/3/2023 By:
  • With the Federal Emergency Management Agency’s national alert test just around the corner, one therapist has taken to TikTok to warn viewers who keep hidden cell phones for safety reasons
  • Eastern Time on Oct. 4, will sound even if cell phones are on silent mode
  • “The only way to avoid this is if your phone is powered off,” the therapist urged over 3.1 million viewers as of Tuesday afternoon
  • Acknowledging the importance of the alert test, she said it does still put any person with a cell phone hidden in their home “at risk.”“I
  • know that there are many people out there who have hidden cell phones for safety
  • Domestic violence, sex trafficking, sex work, unsafe home situations, whatever it may be,” Kristin elaborates in her video
  • “I used to have a hidden cell phone due to a DV issue
  • thankful this came across my fyp bc my friend has a trap phone and she wouldn’t have known,” another added.

Read Article


Your phone will make an alarming noise Wednesday at 2:20 p.m. ET unless you turn it off first

Posted: 10/3/2023 By:
  • If your phone, television or radio makes an alarming sound around 2:20 p.m. ET on Wednesday, don't freak out
  • The Federal Emergency Management Agency and the Federal Communications Commission are set to test the national public alert and warning system on Wednesday
  • Nearly all smartphones connected to a cellular network will deliver a message, alongside an alert sound and vibration: "THIS IS A TEST of the National Wireless Emergency Alert System
  • FEMA tests are designed to make sure the U.S. government can get important messages to Americans in emergency situations
  • TV and radio stations will also deliver the same message around the same time
  • This is the third nationwide test of the alert system, FEMA said
  • The last one was in August 2021
  • While iPhones and most Android smartphones offer settings to opt out of certain government alerts, such as Amber alerts, users can't opt out of this test, FEMA said.

Read Article


Why we know so little about cannabis – and why scientists are worried

Posted: 10/3/2023 By:
  • So why, given our long history with the drug, are there so many unanswered questions?Research into cannabis really only started in earnest two decades ago
  • Yet the number of published studies about cannabis pales in comparison to the trove of data we have on drugs like tobacco and alcohol
  • “We don’t have foundational data on cannabis that we have for other stuff,” says Ryan Sultan at Columbia University in New York
  • A big reason for this is that government regulations have made it exceedingly difficult to study the drug
  • Even in Canada, where recreational cannabis use has been legal since 2018, federal and provincial restrictions have encumbered research
  • That has people like Sultan worried
  • We don’t know what doses are appropriate, what their long-term effects are or even what people are consuming, he says
  • “In fact, we know the things they’re getting are not what the label says they are.

Read Article


Ex-Chewy worker says MO colleagues groped her, gave out candy from their pants: Lawsuit

Posted: 10/3/2023 By:
  • The federal lawsuit filed last Tuesday says the victim, a woman, began working as a fork lift operator for Chewy in September 2022
  • The woman said in the lawsuit she was verbally harassed and later groped by colleagues
  • She said despite multiple complaints made to human resources at her branch of the dog food and supplies distribution company, nothing was done
  • The Star could not immediately reach attorneys for the woman or a spokesperson for Chewy for comment
  • Shortly after starting the job, male coworkers started offering candies to the victim, according to the lawsuit
  • Eventually this included male colleagues making lewd comments about the size of her breasts
  • At the time of the lawsuit filing, Chewy leadership still had not informed her she could return to work, court records show
  • She has not been paid by Chewy since going on leave and has since gotten a different job.

Read Article