The main house at Gordon Pointe spans 11,500 sq ft. Dawn McKenna Group / Coldwell Banker Realty The most expensive home for sale in the U.S. hit the market this week for $295 million. Gordon Pointe, as it’s called, is a roughly 9-acre compound in Naples, Florida, on the Gulf…
Tag: business news
Insurers such as State Farm and Allstate are leaving fire- and flood-prone areas. Home values could take a hit
Some insurance companies are pulling back coverage from fire- and flood-prone areas, leaving homeowners with limited affordable options. This trend may even affect the property value of American homes, experts say. The nation’s largest homeowner’s insurance company, State Farm, stopped accepting new applications for policies on property in California in…
Oil prices could spike 20%, possibly double if Middle East conflict disrupts Strait of Hormuz
Oil traders have largely shrugged off repeated attacks on vessels in the Red Sea, but a confrontation with Iran that disrupts the Strait of Hormuz would send crude prices significantly higher, according to analysts. “If you’ve got a disruption of the Strait of Hormuz for a month, prices would rise…
These Middle East flashpoints could trigger regional conflict that impacts oil prices
Oil traders are not taking the risk of escalation in the Middle East seriously enough as the situation in the region deteriorates by the day, according to RBC Capital Markets. There are several key flashpoints where the Israel-Hamas war could escalate into a regional conflict that has a material impact…
Universal banks on ‘Migration’ to expand its animation lead over Disney
Universal and Illuminations latest animated film centers on a family of ducks who decides to leave the safety of a New England pond for an adventurous trip to Jamaica. However, their well-laid plans quickly go awry when they get lost and wind up in New York City. Universal Disney dropped…
Nike sinks 12% after it slashes sales outlook, unveils $2 billion in cost cuts
Nike on Thursday unveiled plans to cut costs by about $2 billion over the next three years as it lowered its sales outlook. The stock fell about 12% in premarket trading Friday. Nike shares were up 4.7% so far this year through Thursday’s close, lagging far behind the S&P 500’s…
2024 energy outlook: What investors can expect from crude prices, and how to play it
Better times may be ahead for energy investors after this year’s declines opened major investment opportunities, and oil prices rebound. West Texas Intermediate futures are down about 7% in 2023. That would mark the commodity’s first annual decline since 2020, when it fell more than 20%. Those declines come amid…
Friday’s S&P 500 and Nasdaq-100 rebalance may reflect concerns over concentration risk
It’s arguably the biggest stock story of 2023: a small number of giant technology companies now make up a very large part of big indexes like the S&P 500 and the Nasdaq-100. Five companies (Apple, Microsoft, Amazon, Nvidia and Alphabet) make up about 25% of the S&P 500. Six companies (Apple, Microsoft,…
GPT and other AI models can’t analyze an SEC filing, researchers find
Patronus AI co-founders Anand Kannappan and Rebecca Qian Patronus AI Large language models, similar to the one at the heart of ChatGPT, frequently fail to answer questions derived from Securities and Exchange Commission filings, researchers from a startup called Patronus AI found. Even the best-performing artificial intelligence model configuration they…
Hasbro laying off 1,100 workers as weak toy sales persist into holiday season
Hasbro is laying off about 1,100 employees as the toy maker struggles with soft sales that have carried into the holiday shopping season, according to a company memo obtained by CNBC. Hasbro had about 6,300 employees as of earlier this year, according to a company fact sheet. Shares of the…