Author: Editor

The Financial Accounting Standards Board issued a new accounting standards update Tuesday aimed at improving its existing hedge accounting guidance.The updated standard helps companies do more hedges in five particular areas:Similar risk assessment for cash flow hedgesIt expands the hedged risks that are allowed to be aggregated in a group of individual forecasted transactions, so entities can apply hedge accounting to potentially larger portfolios of forecasted transactions. It changes the requirement to designate a group of individual forecasted transactions from having a shared risk exposure to having a similar risk exposure. Entities are required to assess risk similarity both at…

The nasty courtroom battle between two of the biggest alternative data players has ended in a settlement.Carlyle-backed Yipit and Jefferies-owned M Science agreed to drop their lawsuits against each other as part of the settlement, according to a person familiar with the arrangement who was not authorized to speak publicly. The details of the settlement have not been made public.The lawsuits, which centered on claims that two employees stole trade secrets from one rival and passed them on to another, rocked the alternative data world. These firms have grown in scale and revenue as hedge funds and asset managers use…

The housing market is still largely frozen, and sellers don’t seem to be in any rush to help it thaw. More than 84,000 home sellers yanked their homes off the market in September, according to a new report from Redfin. That marks a 28% increase from the number of homes that were delisted the prior year, and the highest pace of pulled listings in any September in eight years, the real estate listings site said.The firm said it counted a home as “delisted” if a listing was pulled from the market for at least 31 days without a sale or…

Warren Buffett composes letters. Ray Dalio drafts essays. Howard Marks pens memos. As of Sunday, Michael Burry writes a newsletter.The money manager of “The Big Short” fame is shuttering his hedge fund to focus on publishing a Substack titled “Cassandra Unchained,” squarely aimed for now at calling out AI mania and key players such as Nvidia and OpenAI.It’s a return to Burry’s roots. Long before he predicted and profited from the collapse of the mid-2000s US housing bubble, he ran a value-investing blog in his off hours as a medical student.Burry is one of many investors to embrace writing as…

Fed Gov. Christopher Waller told Fox News that he thought his most recent conversation with Bessent went well.”I talked to Scott about 10 days ago. We had a nice, a great, meeting,” Waller told Fox Business in late November.Waller said that the White House is looking for someone with “experience.” It’s not clear what experience that entails, but of the reported finalists, only three have experience serving on the central bank.”I think they are looking for someone who has merit, experience, and knows what they are doing in the job, and I think I fit that,” he said.Just before Thanksgiving,…

Weak buyer demand, weakening home prices and overall uncertainty in the economy are combining to make home sellers change their minds and step out of the market. Close to 85,000 U.S. sellers took their homes off the market in September, up 28% from September 2024 and the highest level for that month in eight years, according to Redfin. Sellers are delisting because so many listings are going stale, sitting on the market longer and longer. Redfin reported that 70% of listings in September were on the market for 60 days or longer. Homeowners are seeing prices weaken significantly and would rather…

An Abercrombie & Fitch store stands in midtown Manhattan in New York City on Oct. 24, 2024.Spencer Platt | Getty ImagesShares of Abercrombie & Fitch soared 30% in morning trading on Tuesday after the company showed investors it’s set to keep growing, even as its namesake brand slows down. During the apparel retailer’s fiscal third quarter, Abercrombie brand sales fell 2%. But for at least the third quarter in a row, Hollister saved the retailer, as sales climbed 16%. CEO Fran Horowitz said sales at Abercrombie are expected to be flat in the current quarter, indicating growth at Hollister is…

Mifepristone and Misoprostol pills are pictured Wednesday, Oct. 3, 2018, in Skokie, Illinois.Erin Hooley | Chicago Tribune | Tribune News Service | Getty ImagesJust over a year since Donald Trump was elected president again, the $6.9 billion abortion pill industry is operating under the same federal rules he inherited from former President Joe Biden — but new threats to the drug are mounting.Between a Food and Drug Administration safety review that could upend distribution, legal battles over whether the pill can stay on the market, and anti-abortion rhetoric from activists and the Trump administration, drugmakers appear to be bracing for…

A Dick’s Sporting Goods store in Pleasant Hill, California, US, on Monday, Nov. 24, 2025. David Paul Morris | Bloomberg | Getty ImagesDick’s Sporting Goods is planning to close a slew of Foot Locker stores now that its acquisition of the sneaker company is complete, the company said Tuesday when announcing fiscal third-quarter earnings.  It’s unclear how many stores Dick’s plans to shutter, but the closures are part of a larger restructuring it’s implementing so Foot Locker isn’t a drag on its profits come fiscal 2026, Dick’s Executive Chairman Ed Stack told CNBC’s Courtney Reagan. “We need to clean out the garage,”…

A Best Buy store in Pinole, California, US, on Monday, Nov. 24, 2025. Best Buy Co. is expected to release earnings figures on November 25. David Paul Morris | Bloomberg | Getty ImagesBest Buy hiked its full-year forecast Tuesday, as it topped Wall Street’s quarterly sales expectations and customers turned to the retailer to upgrade tech devices and splurge on new computers, gaming consoles and smartphones. The consumer electronics retailer said it now expects revenue of between $41.65 billion to $41.95 billion for the full year, higher than its previous range of $41.1 billion to $41.9 billion. It expects adjusted…