Author: News Room

With back-to-back Indianapolis 500 victories, two NTT IndyCar Series Championships and 30 career IndyCar wins including 27 with Team Penske, it made tremendous sense that Josef Newgarden and Team Penske stay together for the future. It became official Saturday afternoon at the Chevrolet Detroit Grand Prix as the team announced a contract extension with the IndyCar Series star. “This very much feels like home here to me,” Newgarden said. “This is my eighth year with the team. They’ve provided me with every opportunity that I could have ever dreamed of. I’ve enjoyed my time here immensely, immensely. There’s nothing that’s…

President Franklin D. Roosevelt maintained a lifelong connection with Springwood, his family home.He was raised at the property in Hyde Park, New York, and hosted dignitaries there as president.Measuring about 21,000 square feet, Springwood has 49 rooms and eight bathrooms. President Franklin D. Roosevelt’s estate in Hyde Park, New York, is the only place in the US where a president was born, maintained a connection throughout his life, and is buried, according to the National Park Service.Widely regarded as one of the most influential US presidents, Roosevelt was elected in 1932 and led the country through the Great Depression and…

The “UpLift” program in central Iowa provides up to $500 a month for 110 low-income residents. Though the legislation could threaten its future, its organizers say it will continue — for now — using private funding. They said the program is showing similar results to other basic income programs around the country: Residents are mostly spending the money on food and shelter.Ashley Ezzio, a senior project coordinator at The Tom and Ruth Harkin Institute for Public Policy and Citizen Engagement, which is conducting the study, told The Des Moines Register that most participants are spending the money on essentials. A…

By Md Manzer Hussain (Reuters) – Most stock markets in the Gulf ended higher on Sunday, led by the Saudi index, after a U.S. inflation reading supported expectations of interest rate cuts from the Federal Reserve. Saudi Arabia’s benchmark index rose 1.1% after it hit a more than five-month low on Thursday. The index was lifted by gains in almost all sectors, led by the IT, utilities and healthcare stocks. ACWA Power advanced 4.4% and Saudi National Bank, the kingdom’s largest lender, added 1.8%. Saudi Aramco (TADAWUL:), however, slipped 1.9% to 28.45 riyals per share, its lowest level in more…

By Tim Hepher and Lisa Barrington DUBAI (Reuters) – The next CEO of Boeing (NYSE:) should have an understanding of what led to its current crisis and be prepared to look outside for examples of best industrial practices, the head of the International Air Transport Association said on Sunday. U.S. planemaker Boeing is engulfed in a sprawling safety crisis, exacerbated by a January mid-air panel blowout on a near new 737 MAX plane. CEO Dave Calhoun is due to leave the company by the end of the year as part of a broader management shake-up, but Boeing has not yet…

Minneapolis FED President Neel Kashkari warned that the FED will need to maintain higher interest rates for a long time. This warning came in response to repeated inflation overshoots and resilient demand. “It’s likely that we’ll want to hold rates for a while longer,” Kashkari said in an interview with the Financial Times’ Monetary Policy Radar before the publication blackout period associated with the Fed’s June 12 Federal Open Market Committee meeting. Although he is not a voting member of the committee this year, Kashkari has been hawkish on the FOMC lately. Its impact increased after inflation surprised upwards for…

Online shopping in China is widely expected to grow. It’s less clear how much longtime players such as Alibaba and JD.com will benefit. “You have relatively strong insurgent players coming in,” James Yang, Hong Kong-based partner at Bain and Company told me last week. “This is going to be not just a two-player game, but a three, four, five-player game,” he said. E-commerce’s share of China’s retail sales climbed to 37.5% in 2023, up from 27.9% in 2019, according to Bain. The data showed that in Asia, the country ranks first by far in e-commerce penetration. In the U.S., official…

The Supreme Court is turning toward the final, frenzied weeks of its term, readying potential blockbuster decisions on abortion, guns and former President Donald Trump’s claims of absolute immunity. The decisions will land rapidly at a tense time for the 6-3 conservative-liberal court – just before a historic presidential election that has been heavily influenced by its decision two years ago to overturn Roe v. Wade. Public opinion of the court remains at record lows. Conservative Justice Samuel Alito, meanwhile, is facing sharp blowback over two controversial flags raised at his homes in Virginia and New Jersey. Here are some…

Islam Makhachev separated himself from former UFC champions Jon Jones, Demetrious Johnson, Khabib Nurmagomedov, and Max Holloway when he won his 14th straight fight under the UFC banner, submitting Dustin Poirier in the fifth round of their UFC 302 main event. Makhachev, who retained his UFC lightweight title with the stoppage victory, can now set his sights on the only two fighters who have longer winning streaks than his, ex-welterweight champion Kamaru Usman (15) and former middleweight kingpin Anderson Silva (16). As expected, Makhachev used his wrestling, ground control, and submission skills to secure a D’arce choke on Poirier in…

Income investors love Dividend Aristocrats. And why not? These are stocks that have delivered dividend raises year after year for many decades. But we can do even better than the Aristocrats. And get stinkin’ rich in the process by buying these payout raisers before they have clocked 25 years of divvie growth (the qualification to be an Aristocrat). This is where the real money is made. The problem with some Aristocrats is that their best days are behind them. When a company reaches a level of dividend maturity, payout ratios can get bloated, and payout increases can become incremental and…