Trump's Copper Tariffs: What Are Cathodes, and Why Are They Exempt?
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Yahoo
21 hours ago
- Yahoo
Getty Images Holdings (GETY) – Shutterstock Merger Inches Closer
Getty Images Holdings, Inc. (NYSE:GETY) is . On June 10, the company received a significant boost on its proposed merger with Shutterstock, a leading provider of high-quality creative content for transformative brands. Shutterstock's stockholders approved the adoption of the proposed merger, with approximately 82% of the issued and outstanding shares voting in favor. The approval paves the way for the merger of the two companies, which is expected to result in a combined company capable of meeting the ever-changing needs of customers through investments in content creation, event coverage, and technological innovation. 'Our complementary strengths will allow us to better serve customers while also delivering exceptional value to our partners, contributors and stockholders in a fast evolving and competitive environment,' said Paul Hennessy, Shutterstock's Chief Executive Officer. The merger between Getty Images and Shutterstock is expected to close in the second half of the year, subject to regulatory approvals. Getty Images Holdings, Inc. (NYSE:GETY) is a communication services company that provides creative and editorial visual content solutions. It offers creative content, including royalty-free photos, illustrations, vectors, videos, and generative AI services, as well as editorial content, which consists of photos and videos. While we acknowledge the potential of GETY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and 11 Defensive Stocks Billionaires are Buying amid US Trade Tariff Uncertainty. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Los Angeles Times
a day ago
- Los Angeles Times
Blue Bottle coffee workers at four California stores vote to join union
Blue Bottle coffee shops in the Bay Area have unionized, becoming the latest locations to be swept up in the wave of barista organizing that has surged across the U.S. in recent years. In an election held by the National Labor Relations Board on Thursday, workers at Bay Area locations of the specialty coffee chain — three in Oakland and one in Berkeley — voted 22 to 5 in favor of joining Blue Bottle Independent Union. The independent union won its first victory in May of last year when it unionized six locations of the Nestlé-owned chain in the greater Boston area. The roughly 80 workers the union represents in Massachusetts will now be augmented by 37 workers at the four new union stores in California. 'We have growing ranks of baristas realizing they deserve better,' said Alex Pyne, 25, president of the Blue Bottle Independent union. Blue Bottle spokesperson Annaliese Hazen said in a statement the company respected the right of workers to form a union. 'At the heart of our culture at Blue Bottle Coffee lies a profound commitment to care. While we believe in our ability to address the needs of our teams directly, we respect their right to union representation,' Hazen said. Since a successful bid by Starbucks workers in Buffalo, N.Y., to unionize their store in late 2021, cafes have become a new, highly visible ground for organizing. Hundreds of Starbucks locations have unionized, as well as other smaller chains such as Gimme Coffee in Ithaca, N.Y., and Boba Guys in Los Angeles. The broader restaurant industry is largely non-union, besides sub-industries such as hotel kitchens and airport and stadium concessions. Blue Bottle union leaders said they chose not to affiliate their group with a large established union so as to maintain flexibility and control over how they organize stores. It's a similar path taken by the independent Amazon Labor Union and Trader Joe's United that formed in recent years. The Bay Area Blue Bottle workers first announced their union drive in June. The workers are seeking improved benefits and higher wages to address the high cost of living in the Bay area. At the Berkeley and Oakland stores, baristas start at $20.07 while shift supervisors start at $21.07, which workers said is not enough to make ends meet in the high-priced area. They also cite the loss of such perks as holiday bonuses and a free weekly bag of coffee beans since Nestlé acquired a majority stake in 2017. Workers also said they want more transparency with the company's sourcing of coffee beans and display that shows prices of raw coffee, as well as Nestlé's practices in other parts of the world. 'We are just workers standing up for themselves,' said Alex Reyes, a shift supervisor who has worked at the Berkeley store for eight years. 'We want a seat at the table.'
USA Today
a day ago
- USA Today
Uncertain economic times? That means it's gold's time to shine
What's it worth: From Costco gold bars to pots of gold That's enough for more than 1 billion Olympic gold medals, which are actually primarily made of silver, and about 750,000 pots of gold waiting at the end of every rainbow. Or you'd have to spend $694 billion at Costco on its 1-ounce gold bars, although the $3,410 bar is out of stock. Value of reserves rises and falls with price of gold The price of gold fluctuates, but as of July 2025, the market value of all the gold stored in the New York Federal Reserve vault could be estimated somewhere between $470 billion and $680 billion, depending on the market price of gold, which hit a record high this year. Who owns all the gold in the Fed's stockpile? But none of that gold belongs to the Fed, and most of it isn't American. In 2021, the U.S. Treasury Department reported it only stores about 13.4 million fine troy ounces – about 416 metric tons – there. The rest belongs to foreign governments, other central banks, and official international organizations, who trust the Fed to keep it locked away 80 feet below street level. Golden opportunity for a heist movie? Where is the world's gold stored? The United States stores gold in other places, too. The largest American-owned gold stockpile is at Fort Knox in Kentucky, which houses about 147.3 million fine troy ounces of gold – about 4,583 metric tons. Other countries, including Germany, Italy, and France, also have large gold reserves. More: Trump wants lower interest rates. Will the Fed make cuts? Live updates Why people still like gold Beyond its shine, some investors, central banks, and governments view gold as an attractive asset that inspires confidence, even in uncertain times. 'It's historical money. It goes back several millennia as original money,' said Aakash Doshi, the global head of gold strategy at State Street Investment Management. 'It goes back to biblical times. It was one of the gifts from the three wise men.' While today gold isn't used as a large-scale payment method, it's a highly liquid asset with no particular credit risk and is not directly controlled by any central bank, according to Joe Cavatoni, the senior market strategist for the Americas for the World Gold Council. Some investors still view it as 'real' money – something that can't be printed – and a hedge against market and economic volatility. 'Gold performs in good times as well as in the bad times,' Cavatoni said. Why gold demand surged While the dollar or the euro isn't going away anytime soon, Doshi said the demand for real hard assets that complement fiat currency rose over the last few decades as global debt and governments' share of that debt has increased. In 2024, gold overtook the euro as the second-largest global reserve asset after the U.S. dollar, according to a June European Central Bank report. Doshi listed the 2008 financial crisis, the U.S.-China trade war, shifting trade alliances like the rearrangement of the North American Free Trade Agreement, and expanded sanctions as forces driving some central banks' increased interest in gold, as they seek stability amid economic shocks and geopolitical tension. Cavatoni said that rating agencies' recent downgrades to the U.S. government's creditworthiness and the risks that come with holding treasuries are also likely on people's minds, adding that a lot of the increased demand is coming from emerging market central banks. Gold price jumped since the start of 2024 He said gold is valued higher when market risk is unclear and uncertainty is high, adding, 'that's kind of the world we're living in now.' 'When you think about their absolute level of holdings, they are still very low relative to the percentage of total reserves. And I think that there's still an opportunity for them to continue to grow,' Cavatoni said. 'But I think we're seeing in our second quarter data and other sound bites that they're definitely paying close attention to what the performance is going to look like.'
