Author: John Freddy
John Freddy
John Freddy is a highly respected economist, columnist, and news writer with an accomplished career that began in 1982. Over the past four decades, he has been a prominent voice in financial journalism, delivering in-depth coverage and analysis of the stock market, including major indices like the NYSE, Nasdaq, S&P 500, and DJIA. John is also known for his expertise in commodities, focusing on key sectors such as oil, energy, food, gas, and consumer markets.
A radical plan to halt “virgin steelmaking” in the UK is being considered in a move that threatens the loss of 2,000 jobs at British Steel’s works in Scunthorpe. Government officials are weighing a proposal to switch off Britain’s last two remaining blast furnaces despite launching emergency legislation this year preventing the works’ Chinese owners from doing the same. The proposal is understood to envisage merging British Steel with part of Speciality Steel UK (SSUK), a division of Sanjeev Gupta’s metals empire that crashed into a government-led insolvency in August. It is one of several options being considered, Whitehall sources said. But the merger…
Stock Widget Tesla TSLA -2.85% ▼ shareholders approved a record-setting pay package for Chief Executive Elon Musk, a plan designed to motivate the world’s richest man with as much as $1 trillion in additional stock. Flanked by dancing humanoid robots on a stage bathed in pink and blue light at the electric-vehicle maker’s Austin, Texas, headquarters, Musk thanked the crowd of shareholders who supported the pay package with more than 75% of the votes cast. “What we’re about to embark upon is not merely a new chapter of the future of Tesla but a whole new book,” Musk said. “I guess what…
In a blow to U.S. industrial self-sufficiency and national security, U.S. Magnesium LLC, the nation’s sole primary producer of magnesium metal, filed for Chapter 11 bankruptcy protection on September 10, 2025. The filing, lodged in the U.S. Bankruptcy Court for the District of Delaware, stems from escalating regulatory disputes with the state of Utah over alleged environmental pollution from its Rowley facility along the shrinking Great Salt Lake. With assets and liabilities estimated between $100 million and $500 million, the company—wholly owned by billionaire Ira Rennert’s Renco Group Inc.—is seeking to restructure through a going-concern sale, warning that its collapse…
Stock Widget For generations of Americans, The Gap GPS -3.20% ▼ evoked the essence of effortless style—the crisp white tees, slim khakis, and relaxed jeans that defined casual Fridays and weekend wardrobes from the 1980s through the early 2000s. Nestled in the heart of bustling indoor malls, Gap stores were more than retailers; they were cultural touchstones, symbolizing an accessible American aesthetic. But in a retail landscape reshaped by e-commerce, fast fashion, and shifting consumer habits, the once-mighty chain has quietly shuttered over 80% of its locations, shrinking from a global peak of more than 2,500 stores in 2000 to…
Stock Widget USA Rare Earth USAR +23.20% ▲, a key player in the domestic rare earths and magnet production industry, is riding a wave of investor enthusiasm following a flurry of positive developments. The company reported its second-quarter 2025 financial results on August 12, 2025, and announced a new memorandum of understanding (MOU) with Enduro Pipeline Services, marking its 12th such agreement to date. These milestones, coupled with strong customer interest in its upcoming rare earth magnet production facility in Stillwater, Oklahoma, have propelled USAR shares up 23.2% as of 10:08 a.m. ET on August 13, recovering sharply from a…
President Donald Trump is imposing an additional 25 percent tariff on India, lifting the total rate to 50 percent. Trump, writing in an Aug. 6 executive order, said India’s government is “currently directly or indirectly importing Russian Federation oil.” “Accordingly, and as consistent with applicable law, articles of India imported into the customs territory of the United States shall be subject to an additional ad valorem rate of duty of 25 percent,” the executive order states. Last week, the president announced a 25 percent tariff against India, one of the largest U.S. trading partners. Additionally, India would face another penalty…
Japanese carmaker Nissan has said it will cut another 11,000 jobs globally and shut seven factories as it shakes up the business in the face of weak sales. Falling sales in China and heavy discounting in the US, its two biggest markets, have taken a heavy toll on earnings, while a proposed merger with Honda and Mitsubishi collapsed in February. The latest cutbacks bring the total number of layoffs announced by the company in the past year to about 20,000, or 15% of its workforce. It was not immediately clear where the job cuts will be made, or whether Nissan’s…
Rite Aid filed for bankruptcy protection Monday for the second time, less than a year after the embattled drugstore chain emerged from Chapter 11 as a private company. Rite Aid said in a news release that it’s looking for a buyer and is in “active discussions” with multiple prospects. The Chapter 11 filing in U.S. Bankruptcy Court in New Jersey gives Rite Aid access to $1.94 billion in new financing to fund the sale process, during which it plans to keep stores open. The company did not respond to The Washington Post’s request for comment. Rite Aid first filed for bankruptcy in October…
Apollo Global Management (NYSE: APO) says it is directing over $100 billion of capital into industries reshaped by trade friction. In a Q2 2024 investor briefing, the firm highlighted a multibillion-dollar allocation across private equity, credit and infrastructure to capitalize on reshoring trends, supply-chain reorientation and commodity arbitrage amid U.S.–China decoupling and new green levies. Apollo executives note that “private assets” can “offer a measure of stability during times of turbulence, such as the current stretch driven by U.S. President Donald Trump’s tariffs”. In effect, Apollo treats tariffs not merely as costs but as catalysts for value – redeploying capital from affected…
Chicago, May 2025 – Conagra Brands has agreed to sell its Chef Boyardee canned pasta business to private equity firm Pinnacle Partners for $600 million in cash. The deal – expected to close in Q1 of fiscal 2026 – transfers an iconic, 97-year-old brand out of Conagra’s portfolio after about 25 years of ownership. Conagra confirmed the transaction covers Chef Boyardee’s shelf-stable operations and Milton, Pa. manufacturing plant (about 820,000 sq. ft. with 500 employees), while Conagra will retain the rights to license the frozen skillet meals line. Conagra CEO Sean Connolly said the divestiture is “another milestone in reshaping the Conagra Brands portfolio for…