michaklootwijk/iStock via Getty Images Shares of major heating and cooling equipment makers dropped sharply Thursday after news of a sweeping antitrust lawsuit rattled investor confidence in the sector’s pricing power. Johnson Controls ( JCI ) fell as much as 4.7%, while Carrier Global ( CARR ) declined 7%. Lennox International ( LII ) led losses with an 8.4% drop, and Trane Technologies ( TT ) sl...
michaklootwijk/iStock via Getty Images Shares of major heating and cooling equipment makers dropped sharply Thursday after news of a sweeping antitrust lawsuit rattled investor confidence in the sector’s pricing power. Johnson Controls ( JCI ) fell as much as 4.7%, while Carrier Global ( CARR ) declined 7%. Lennox International ( LII ) led losses with an 8.4% drop, and Trane Technologies ( TT ) slid 5.4%. The selloff followed the filing of a proposed class-action lawsuit in federal court alleging that leading HVAC manufacturers coordinated price increases over several years, potentially inflating costs for customers across residential and commercial markets. Filed in the U.S. District Court for the Eastern District of Michigan, the case Berg v. Robert Bosch, LLC, et al. alleges that several of the largest HVAC equipment manufacturers coordinated actions that drove up prices beginning in January 2020. According to the complaint, the companies, which collectively dominate the U.S. HVAC equipment industry, are accused of engaging in ongoing communications and signaling practices that effectively aligned pricing strategies beginning in 2020. Allegations target industry pricing The lawsuit claims manufacturers justified repeated price hikes by pointing to supply chain disruptions, higher input costs and regulatory changes. However, plaintiffs argue those explanations fail to fully account for the magnitude of increases, suggesting coordination may have played a role. Central to the case is the distinction between lawful “parallel behavior,” where companies independently raise prices, and illegal collusion, where firms allegedly agree in advance to do so. The complaint asserts that the latter occurred, citing industry meetings, shared data and public messaging as mechanisms that reinforced pricing discipline. Industry groups also scrutinized The filing also points to trade organizations and industry publications as potential channels for information exchange and signaling...
Google is expanding access to Search Live, a feature that lets you search for information using your voice and camera. The AI search assistant is now available in more than 200 countries and territories, as well as dozens of languages , according to an announcement on Thursday . Search Live rolled out broadly in the US last September , allowing you to point your phone's camera at something and ask...
Google is expanding access to Search Live, a feature that lets you search for information using your voice and camera. The AI search assistant is now available in more than 200 countries and territories, as well as dozens of languages , according to an announcement on Thursday . Search Live rolled out broadly in the US last September , allowing you to point your phone's camera at something and ask about it aloud, such as how to install a shelving unit. The AI assistant will then offer an audio response, along with links to information it finds on the web. Video: Google Google says it's powering the global expansion of Search Live with its new … Read the full story at The Verge.
Sven Piper Elon Musk is talking about allocating as much as 30% of SpaceX's initial public offering to individual investors, at least three times as much as in a typical IPO. Musk handpicked Bank of America ( BAC ) to focus on domestic retail distribution, according to a Reuters report on Thursday, which cited people familiar with the matter. BofA is expected to be focused on high-net-worth indivi...
Sven Piper Elon Musk is talking about allocating as much as 30% of SpaceX's initial public offering to individual investors, at least three times as much as in a typical IPO. Musk handpicked Bank of America ( BAC ) to focus on domestic retail distribution, according to a Reuters report on Thursday, which cited people familiar with the matter. BofA is expected to be focused on high-net-worth individuals and family offices in the U.S., while UBS will market to those investors internationally. Morgan Stanley ( MS ) is expected to handle smaller-ticker retail investors through its E*Trade platform, according to the report. Citi ( C ) will coordinate international retail and institutional distribution. SpaceX didn't respond to a request for comment from Reuters. Bank of America declined to comment. The Reuters article comes after The Information reported on Tuesday that SpaceX ( SPACE ) is aiming to file its IPO prospectus with regulators late r this week or next week. Separately on Thursday, the WSJ reported that Musk's X has let go of its chief marketing officer and conducted a round of layoffs of more than 20 nontechnical staff over the last several weeks ahead of SpaceX's IPO. More on SpaceX SpaceX IPO: What I Learned From ULA's Heydays SpaceX-xAI Deal: Building America's New Icon SpaceX IPO's $700 Billion Valuation Increase Benchmarked By Rocket Lab SpaceX is said to eye record-breaking IPO with potential $75B raise 10th xAI cofounder departs ahead of SpaceX IPO: report
Coinbase Opposes Stablecoin Compromise In Senate Crypto Bill: Report Authored by Jesse Coghlan via CoinTelegraph.com, Crypto exchange Coinbase is reportedly against the latest compromise over stablecoin yields that the Senate is looking to include in its crypto market structure bill. Coinbase representatives told Senate lawmakers in a meeting on Monday that they had concerns over the language arou...
Coinbase Opposes Stablecoin Compromise In Senate Crypto Bill: Report Authored by Jesse Coghlan via CoinTelegraph.com, Crypto exchange Coinbase is reportedly against the latest compromise over stablecoin yields that the Senate is looking to include in its crypto market structure bill. Coinbase representatives told Senate lawmakers in a meeting on Monday that they had concerns over the language around stablecoin yields in the new compromise version of the bill, Punchbowl News reported Wednesday, citing four people briefed on the exchange. A proposal that circulated earlier this week would have reportedly prevented third parties, such as exchanges, from paying stablecoin yields , a measure aimed at addressing banks’ concerns over the risk of deposit flight. Coinbase is one of the largest crypto lobbyists in the US, and its withdrawal of support for the bill in January came just before the Senate Banking Committee indefinitely postponed a markup to advance the legislation. Republican Senator Thom Tillis and Democratic Senator Angela Alsobrooks are leading the latest effort to advance the bill, and talks are reportedly ongoing. Coinbase did not immediately respond to a request for comment. Senator Alsobrooks, pictured at a banking event in early March, said the compromise bill may leave both crypto and the banks unhappy. Source: American Bankers Association Yield fight plagues Senate bill The fight between the crypto and banking lobbies over the Senate’s bill, which aims to outline how regulators should approach crypto, has largely revolved around stablecoin yields. The White House has hosted at least three meetings for the groups to agree on a compromise, which has yet to materialize. Banking groups argue that stablecoin yield payments by exchanges are a loophole in the GENIUS Act, which banned stablecoin issuers from paying yield to holders, and present a risk of deposit flight from the banking system. Stablecoin yields are a major business for crypto exchanges, and th...
Another technology company is getting in on the artificial intelligence (AI) hype train. Coupang (NYSE: CPNG) announced a formal partnership with Nvidia (NASDAQ: NVDA) to leverage its hardware/software platform to build what it calls an AI factory for its e-commerce logistics network. Shares of Coupang rose on the news but have recently fallen back below $20 amid global stock market turmoil in Mar...
Another technology company is getting in on the artificial intelligence (AI) hype train. Coupang (NYSE: CPNG) announced a formal partnership with Nvidia (NASDAQ: NVDA) to leverage its hardware/software platform to build what it calls an AI factory for its e-commerce logistics network. Shares of Coupang rose on the news but have recently fallen back below $20 amid global stock market turmoil in March. Here's what Nvidia's partnership means for Coupang and why the stock could be an incredible buy after this announcement. Image source: Getty Images. Continue reading
jbk_photography/iStock Editorial via Getty Images Mastercard ( MA ) ( MA:CA ) is looking to offload the real-time payments unit that it acquired from the Denmark-based Nets Group in 2019 for $3.2B, people familiar with the matter told the Financial Times . The Purchase, New York-based payments company has tapped investment bankers to lead the sale, the Thursday, March 26, FT report noted. The sale...
jbk_photography/iStock Editorial via Getty Images Mastercard ( MA ) ( MA:CA ) is looking to offload the real-time payments unit that it acquired from the Denmark-based Nets Group in 2019 for $3.2B, people familiar with the matter told the Financial Times . The Purchase, New York-based payments company has tapped investment bankers to lead the sale, the Thursday, March 26, FT report noted. The sale price is likely to be far lower than the price paid for the acquisition, some people reportedly said. Mastercard is said to have acquired the unit to shift away from being a pure card payments company towards a multi-rail payments group. The unit offering payments between accounts in Europe generates about $370M in annual revenue and ~$100M in EBITDA, according to one of the sources. However, it has reportedly acted as a drag on Mastercard's growth. More on Mastercard Mastercard: You Swipe, I Win Mastercard Incorporated (MA) M&A Call Transcript Visa Vs Mastercard: Why One Payment Giant Is The Better Buy For 2026 PayPal, Stripe, Visa, Mastercard are the latest to be warned about debanking by Trump administration Sports betting legalization tied to rise in credit delinquencies, NY Fed study finds
Amazon’s Big Spring Sale has delivered discounts on wearables like the latest Apple Watch SE 3 and Fitbit’s Charge 6 . But they’re not exactly cheap even though they’re on sale. If you want something under $100, the Fitbit Inspire 3 has returned to its all-time low price of $69.95 ($30 off) at Amazon , Best Buy , and Target . Fitbit Inspire 3 Where to Buy: $99.95 $69.95 at Amazon $99.95 $69.95 at ...
Amazon’s Big Spring Sale has delivered discounts on wearables like the latest Apple Watch SE 3 and Fitbit’s Charge 6 . But they’re not exactly cheap even though they’re on sale. If you want something under $100, the Fitbit Inspire 3 has returned to its all-time low price of $69.95 ($30 off) at Amazon , Best Buy , and Target . Fitbit Inspire 3 Where to Buy: $99.95 $69.95 at Amazon $99.95 $69.95 at Walmart $99.95 $69.95 at Best Buy The wearable nails the essentials, accurately tracking basic health and fitness metrics. It’s a fine choice if you only want to track steps, though it can go deeper, offering features such as irregular heart rate alerts, sleep insights, and tools for managing stress. The tracker itself is lightweight and comfortable enough to wear while you sleep ( The Verge ’s Victoria Song sometimes forgot she was even wearing it). Details are easy to read on its bright OLED display, and the tracker can last up to ten days on a single charge. If you don’t want to wear it on your wrist, you can remove it from the band and use it with a clip attachment instead . Unsurprisingly, this budget-friendly Fitbit lacks features found in pricier models. You’ll need to pay more to get advanced health tools like blood oxygen tracking and EKGs. There’s also no contactless payments, built-in GPS, or smart features like support for Amazon Alexa or Google Assistant (most of which the Fitbit Charge 6 offers). Instead, the tracker just sticks to simple notifications, alarms, and timers, which keeps things easy to use and avoids unnecessary distractions. Read our hands-on impressions of the Fitbit Inspire 3.
By Karen Roman Vinson & Elkins said it represented Aligned Data Centers in the closing of a new $2.58 billion credit facility to support the rapid expansion of its U.S. data center portfolio. The credit facility is secured by an initial collateral pool of six high-performing, well-progressed assets within the company’s portfolio and comprises an […]
By Karen Roman Vinson & Elkins said it represented Aligned Data Centers in the closing of a new $2.58 billion credit facility to support the rapid expansion of its U.S. data center portfolio. The credit facility is secured by an initial collateral pool of six high-performing, well-progressed assets within the company’s portfolio and comprises an […]
Labour MP who led the charge against the Blair government’s plans for prolonged detention of terrorist suspects For much of his career, David Winnick, Labour MP for 42 years – representing Walsall North for 38 of them – was a dogged parliamentarian, originally of the Tribunite left and never aspiring to ministerial office. Yet he will be best remembered for an act of singular courage when he succe...
Labour MP who led the charge against the Blair government’s plans for prolonged detention of terrorist suspects For much of his career, David Winnick, Labour MP for 42 years – representing Walsall North for 38 of them – was a dogged parliamentarian, originally of the Tribunite left and never aspiring to ministerial office. Yet he will be best remembered for an act of singular courage when he succeeded in defeating the plans of the Blair government in its Iraq war-era attempt to hold terrorist suspects for up to 90 days without charge. Winnick, who has died aged 92, had supported the invasion of Iraq in 2003, but took his stand on civil liberties grounds and, much to the aggravation of ministers, led the charge against the prolonged detention proposal in the Commons in 2005 – and then in the home affairs committee against a further attempt by the subsequent Brown administration to hold suspects for 42 days . Winnick’s successful amendment limited the term to 28 days; the vote against the terror bill was the first defeat for the Labour goverment, nine years after taking power. Continue reading...
hh5800/E+ via Getty Images Wall Street pulled back on Thursday as a selloff in technology stocks dragged down the major averages, sending the Nasdaq Composite ( COMP:IND ) down 2% amid escalating U.S.-Iran tensions that continue to rattle markets. Furthermore, market breadth within the Nasdaq-100 ( NDX ) remains notably weak, with 81 of its 100 constituents trading lower during the session—highlig...
hh5800/E+ via Getty Images Wall Street pulled back on Thursday as a selloff in technology stocks dragged down the major averages, sending the Nasdaq Composite ( COMP:IND ) down 2% amid escalating U.S.-Iran tensions that continue to rattle markets. Furthermore, market breadth within the Nasdaq-100 ( NDX ) remains notably weak, with 81 of its 100 constituents trading lower during the session—highlighting a widespread wave of selling pressure rather than a handful of isolated declines and suggesting a more pervasive risk-off tone across the index. Market breadth within the Nasdaq-100 ( NDX ) also remains notably weak, with 61 of its 100 constituents trading lower on the session, underscoring broad-based selling pressure rather than isolated declines. Outlined below are the Nasdaq-100’s ( NDX ) worst-performing stocks in Thursday’s trading session. Applovin Corporation ( APP ), -10.7%. Lam Research Corporation ( LRCX ), -9.1%. Meta Platforms, Inc. ( META ), -8.5%. Seagate Technology Holdings ( STX ), -8.2%. Applied Materials, Inc. ( AMAT ), -7.7%. Micron Technology, Inc. ( MU ), -7.5%. Western Digital Corporation ( WDC ), -6.8%. Advanced Micro Devices, Inc. ( AMD ), -6.7%. Intel Corporation ( INTC ), -6.4%. KLA Corporation ( KLAC ), -5.2%. Nasdaq ETFs: ( QQQ ), ( QQQM ), ( SQQQ ), ( TQQQ ), ( QLD ), and ( QID ). More on markets 20 dividend stocks to watch as the Middle East conflict continues to shake markets OECD lifts G20 inflation outlook as rising energy prices impact global markets Exxon Mobil tops Nvidia in valuation amid the ongoing Middle East conflict Consumer staples stocks flash oversold signals as sector slides AI boom and an economic bust: Citrini Scenario gains momentum in prediction markets
Baris-Ozer Wave Life Sciences ( WVE ) plunged nearly 50% on Thursday to reach a 52-week low as analysts argued that updated results from an early-stage trial for its weight-loss drug WVE-007 missed their expectations. In December, Wave ( WVE ) reported three-month data from a Phase 1 portion of its INLIGHT trial, indicating that overweight or obese individuals who received a single 240 mg dose wit...
Baris-Ozer Wave Life Sciences ( WVE ) plunged nearly 50% on Thursday to reach a 52-week low as analysts argued that updated results from an early-stage trial for its weight-loss drug WVE-007 missed their expectations. In December, Wave ( WVE ) reported three-month data from a Phase 1 portion of its INLIGHT trial, indicating that overweight or obese individuals who received a single 240 mg dose witnessed a 9.4% reduction in visceral fat. Additionally, they experienced a 3.2% increase in lean mass and a 4.5% reduction in total body fat in response to the RNA-based therapy. Shares of the company more than doubled in reaction. Thursday’s readout included three-month follow-up data from those who received WVE-007 at a 400 mg dose, which indicated a 5.0% placebo-adjusted reduction in visceral fat, a 0.7% reduction in total fat, and a 0.2% decline in lean mass. "Investors are likely discouraged by the 400 mg data at 3 months, which look similar on visceral fat as 240 mg and not as good on total fat and lean mass," noted Leerink Partners analyst Joseph P. Schwartz. "Wave delivered half of what we were hoping to see for WVE-007," added Cantor analyst Steve Seedhouse. However, Wave ( WVE ) executives attributed the weaker results to the type of patients enrolled in the study. Medical chief Chris Wright noted in a conference call that the 400-mg cohort initiated with "notably healthier" body composition at baseline, including nearly 30% less visceral fat. According to CEO Paul Bolno, "substantially larger effects" are expected when WVE-007 advances to the Phase 2a multidose portion of INLIGHT for individuals with higher BMI and weight-related illnesses. B. Riley Securities analyst Madison El-Saadi said that the mid-stage trial expected to start in Q2 2026 will be critical before a proper evaluation of the obesity thesis can be carried out. More on Wave Life Sciences Wave Life Sciences Ltd. (WVE) Q4 2025 Earnings Call Transcript Wave Life Sciences: WVE-006 Now In Focu...
The atmosphere around the Federal Reserve has evolved as Chair Jerome Powell has grown more comfortable in press conferences, even amid legal and political pressure. Michael McKee, Bloomberg News international economics and policy correspondent, joins Ira Jersey, Bloomberg Intelligence chief US interest-rate strategist, and Will Hoffman, BI US and Canadian rates strategist, on this Macro Matters e...
The atmosphere around the Federal Reserve has evolved as Chair Jerome Powell has grown more comfortable in press conferences, even amid legal and political pressure. Michael McKee, Bloomberg News international economics and policy correspondent, joins Ira Jersey, Bloomberg Intelligence chief US interest-rate strategist, and Will Hoffman, BI US and Canadian rates strategist, on this Macro Matters edition of the FICC Focus podcast series to discuss this and other issues. The conversation explores
Investigative reporter Szabolcs Panyi covered story alleging foreign minister had passed information to Sergei Lavrov The Hungarian government has filed charges against one of the country’s most prominent investigative journalists, accusing him of spying for Ukraine, as officials grapple with the fallout of allegations that Budapest shared confidential EU information with Moscow. The claims of esp...
Investigative reporter Szabolcs Panyi covered story alleging foreign minister had passed information to Sergei Lavrov The Hungarian government has filed charges against one of the country’s most prominent investigative journalists, accusing him of spying for Ukraine, as officials grapple with the fallout of allegations that Budapest shared confidential EU information with Moscow. The claims of espionage cap off a tumultuous week in Hungarian politics, in which relations with the EU plummeted to new lows and polls suggested that Viktor Orbán’s Fidesz party is still lagging behind in support before next month’s election. Continue reading...