Bank stocks pop after Fed releases 'easier' 2025 stress test, plans to make exam more predictable

Palantir Technologies has reported robust financial results, exceeding expectations with a 39% revenue increase to $884 million and a net income doubling to $214 million for the first quarter of 2025. Despite concerns over potential U.S. defense spending cuts, the company raised its revenue growth forecast to 36%, driven by substantial contracts with government agencies and a 71% surge in commercial revenue. CEO Alex Karp emphasized the rapid adoption of AI technology as a pivotal...

Rite Aid Files for Bankruptcy Again Rite Aid Corp, a major American drugstore chain, has filed for bankruptcy for the second time in two years, aiming to sell its assets while keeping stores operational during the Chapter 11 process. The company, which emerged from its first bankruptcy in September 2024, has since closed over 800 stores and now operates 1,245 locations in 15 states. CEO Matt Schroeder indicated interest from potential buyers and emphasized the...

The New Zealand Government is planning a significant overhaul of its pay equity regime, which may complicate the process for people to file pay equity claims. This reform is expected to save the Government billions, potentially resulting in lower pay rates for workers in predominantly female sectors. The pay equity regime was established following a pivotal legal case by caregiver Kristine Bartlett, who highlighted gender discrimination in her pay under the Equal Pay Act, and...

The home of missing Joshlin Smith has been completely destroyed by fire shortly after Judge Nathan Erasmus convicted her mother, Racquel "Kelly" Smith, her partner, Jacquen "Boeta" Appollis, and their friend, Steveno van Rhyn, of kidnapping and trafficking in the Western Cape High Court on Friday. This significant event raises concerns regarding the circumstances surrounding Joshlin's disappearance and the implications of the convictions. The timing of the fire, occurring just hours post-verdict, adds a layer...

At least three people are dead and five others injured after multiple shooters opened fire at El Camaron Gigante Mariscos & Steakhouse in Arizona, an incident described as "isolated" by police. Among the deceased are a 17-year-old boy, his 21-year-old brother, and a 29-year-old man; a critically injured 16-year-old boy is expected to survive. Police are questioning multiple individuals and collecting evidence while the restaurant expresses grief and support for the victims and their families...

In a livestreamed address on May 5, 2025, Alberta Premier Danielle Smith challenged newly elected Prime Minister Mark Carney to negotiate an "Alberta Accord" for a new federal-provincial agreement, emphasizing key demands like guaranteed access to coastlines for energy exports and equal federal transfers akin to Ontario and Quebec. While acknowledging separatist sentiments among Albertans, she stressed the importance of remaining within Canada but indicated openness to a referendum if citizen support materializes. Smith's remarks...