Latest news for Food Culture (OTC:FCUL) Stock

Food Culture Inc provides people healthy, ready to eat meals under "All Your Meals" brand. It developed recipes for finished meals that are prepared daily and shipped directly to clients, providing easy to reheat, healthy and fresh meal solutions.

Food Culture Inc

News

WHLM

Reported Friday, Wilhelmina International Confirms Nasdaq Delisting, Last Trading Day Expected December 31, 2024

GLDG

Reported Friday, GoldMining Renews At-The-Market Program For Up To $50M In Common Shares

Macro Economic Events

Econ #s

Economics

U.K. Gross Domestic Product (YoY) For Q3 0.9% Vs. 1.0% Est.; 0.7% Prior

U.K. Gross Domestic Product (QoQ) For Q3 0.0% Vs. 0.1% Est.; 0.4% (Revised) Prior

U.K. Current Account For Q3 -18.1B Vs. -22.9B Est.; 24.0B (Revised) Prior

U.K. Business Investment (QoQ) For Q3 1.9% Vs. 1.2% Est.; 1.8% (Revised) Prior

The<a href="https://www.benzinga.com/money/how-to-invest-in-the-sp-500"> S&amp;P 500 </a>is flashing a rare technical warning signal that hasn&#8217;t been seen since the Jimmy Carter administration, with declining stocks dominating market action for 14 consecutive days through Thursday.
What Happened: &#8220;Market tops have to start somewhere, and many begin with breadth divergences,&#8221; warns Ed Clissold, chief U.S. strategist at NDR, noting this marks the longest decline streak since Oct. 15, 1978, Business Insider <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-risk-signal-breadth-sp500-investor-sentiment-returns-2024-12">reported</a> on Monday. 
The troubling market breadth comes as the benchmark index trades just 4% below its record high, masking deeper problems beneath the surface. The equal-weighted S&amp;P 500, which better reflects the typical stock&#8217;s performance, has already fallen 7% from its peak.
Historical data paints a concerning picture for investors. After similar breadth declines since 1972, the S&amp;P 500 has averaged just 0.1% returns over the following six months – significantly below the typical 4.5% gain seen during all periods.
The market faces a critical test heading into the traditionally bullish year-end period. &#8220;A lack of a <a href="https://www.benzinga.com/24/12/42627985/which-magnificent-7-stock-will-gain-the-most-in-a-santa-claus-rally-28-select">Santa Claus Rally</a> would be concerning not only from a seasonal perspective, but it would allow breadth divergences to deepen,&#8221; Clissold cautioned.
Adding to the worries, NDR&#8217;s sentiment indicators show investors have maintained extreme optimism since September, marking the seventh-longest stretch of excessive bullishness since 1995. This optimism, combined with the Federal Reserve&#8217;s recent hawkish stance on 2025 interest rate cuts, has pushed the market toward its worst weekly performance since March 2023.
&#8220;If the stock market cannot rectify recent breadth divergences in the next few weeks, it would suggest our concerns about a more difficult 2025 could come to fruition,&#8221; Clissold concluded.
See Also: <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42639832/bitcoin-ethereum-dogecoin-lose-sheen-ahead-of-holidays-but-top-analyst-points-to-this-indicator-says-btc-will-hit-a-top-above-168k">Bitcoin, Ethereum, Dogecoin Lose Sheen Ahead Of Holidays But Top Analyst Points To This Indicator, Says BTC Will Hit A Top Above $168K</a>
Why It Matters: The term &#8220;Santa Claus rally&#8221; was coined by Yale Hirsch in 1972 in the &#8220;Stock Trader&#8217;s Almanac.&#8221; It refers to the tendency for <a href="https://www.benzinga.com/general/education/24/12/42625025/santa-claus-rally-in-2024-poll-shows-investors-split-on-end-of-year-returns-57-say-this">stock prices to rise </a>during the final five trading days of the year and the first two trading days of the following year. This period often sees higher prices due to factors such as year-end portfolio rebalancing, positive holiday sales reports, and optimism for the year ahead, all of which can contribute to strong returns for major stock market indexes.
When Benzinga asked if readers expect a Santa Clause rally, 57% responded that they expect one.
The S&amp;P 500 warning comes even as the <a href="https://www.benzinga.com/24/12/42627688/dow-surges-over-600-points-gold-jumps-1-5">index surged over</a> 1.5% to 5,956.61 on Friday.
The conflicting signals come as the benchmark index approaches what could be its <a href="https://www.benzinga.com/24/12/42430296/carson-researchs-50-year-study-suggests-that-the-26-months-old-bull-market-is-far-from-over">best election year</a> performance ever, having already notched 56 new all-time highs in 2024, according to Carson Research&#8217;s chief market strategist Ryan Detrick.
Price Action: Meanwhile, on Friday, the Dow traded up 1.55% to 43,000.53 while the NASDAQ rose 1.65% to 19,693.06. The S&amp;P 500 also rose, gaining, 1.53% to 5,956.61. SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) which closely monitors the S&amp;P 500 closed 1.20% higher and Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) closed 0.87% higher, as per <a href="https://pro.benzinga.com">Benzinga Pro</a>.
Read Also: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/movers/24/12/42639832/bitcoin-ethereum-dogecoin-lose-sheen-ahead-of-holidays-but-top-analyst-points-to-this-indicator-says-btc-will-hit-a-top-above-168k">Crypto Analyst: ‘2025 Will Continue To Be a Great Year for Bitcoin'</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Shutterstock

Analyst Color

Markets

General

'A Lack Of A Santa Claus Rally Would Be Concerning,' Says Analyst As S&P 500 Breadth Hits Lowest Since Jimmy Carter Era

ICL Appoints Elad Aharonson As President And CEO, Effective March 13, 2025

Rate decision supports investments in battery storage, transmission infrastructure and maintenance to improve reliability for customers.

Reported Friday, PGE Receives Approval For 2025 Rates, Supporting Critical Investments In Battery Storage And Grid Modernization

Reported Saturday, EHang Partners With Changan Automobile To Redefine Personal Transportation Through Innovative Flying Cars

RKLB

Reported Saturday, Rocket Lab Concludes 2024 With 16th Mission, Delivering Synspective Satellite And Celebrating Unprecedented Launch Cadence

Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) deliveries would be impacted if the U.S. were to <a href="https://www.benzinga.com/news/global/24/11/41998381/tesla-earnings-will-be-hit-hardest-if-7500-ev-credit-is-cut-warns-gary-black-citing-80-dependence-on-ev-sales-please-do-the-math">cancel the up to $7,500 tax credit</a> currently available on the purchase of electric vehicles in the country, according to researcher Troy Teslike.
What Happened: Tesla researcher Teslike noted that the cancelation of a 5000 euro ecological bonus for electric vehicles in France as well as the cancelation of a €4,500 environmental bonus in Germany led to EV sales of the company dropping in the regions.
Cancelation of a $7500 tax credit on the purchase of EVs could similarly cause a fall in sales for the company in the U.S., Teslike said. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Here are two data points on what could happen when the $7,500 Federal Tax Credit in the US is canceled: • In France, the €5,000 Ecological Bonus for electric vehicles was canceled a year ago on December 14, 2023. Tesla&#39;s year-to-date sales from January to November are down by…
&mdash; Troy Teslike (@TroyTeslike) <a href="https://twitter.com/TroyTeslike/status/1870368929773731876?ref_src=twsrc%5Etfw">December 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
In November, Reuters reported that President-elect Donald Trump&#8216;s transition team is planning to kill $7,500 tax credit available on EV purchases. The report also noted that Tesla representatives expressed support for ending the subsidy to the team.
"In my view, we should end all government subsidies, including those for EVs, oil and gas," Tesla CEO Elon Musk then said.
Why It Matters: During Tesla&#8217;s second-quarter earnings in late July, Musk also said that the impact of the elimination of subsidies&nbsp;<a href="https://www.benzinga.com/news/24/07/39934750/trump-presidency-and-ira-cut-would-be-devastating-for-competitors-says-elon-musk-long-term-probably" target="_blank" rel="noreferrer noopener">would only be slight for Tesla</a>&nbsp;but devastating for its competitors. The elimination of EV subsidies would probably help Tesla in the long term, he added.
However, not all are <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42005034/elon-musk-backs-calls-for-end-to-ev-subsidies-but-former-tesla-exec-warns-of-massive-drop-in-manufacturing-investments-if-trump-follows-through">as hopeful as Musk</a>. The Future Fund&nbsp;Managing Partner&nbsp;Gary Black said in November that the killing of the consumer tax credit will have a <a href="https://www.benzinga.com/news/global/24/11/41999238/ross-gerber-blasts-teslas-support-for-ending-ev-tax-credit-as-insanity-amid-reported-policy-shift-under-trump-administration">negative impact on Tesla's EPS</a> similar to the one experienced by the company when it resorted to price cuts to increase delivery volume in 2023.&nbsp;
Teslike then also said that the loss of tax credit would only make Tesla lose its market to gas cars from luxury car brands.
"Tesla competes with gas cars from BMW, Mercedes, Porsche, and Audi. Therefore, without the tax credit, Teslas will effectively be $7,500 more expensive compared to those cars,"&nbsp;Teslike then said. 
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/tech/24/12/42640472/tesla-exec-bemoans-cost-of-sending-letter-to-owners-affected-by-ev-giants-recent-recall-of-nearly-700000-vehicles">Tesla Exec Bemoans Cost Of Sending Letter To Owners Affected By EV Giant&#8217;s Recent Recall Of Nearly 700,000 Vehicles</a></li>
</ul>
Photo courtesy: Tesla

Tech

TSLA

Tesla Deliveries At Risk If $7,500 EV Tax Credit Ends, Researcher Warns Despite CEO Elon Musk Claiming Otherwise

The Scarborough Energy Project has passed another significant milestone with the final Pluto Train 2 modules arriving at the Pluto LNG facility in Karratha, Western Australia.
The successful completion of the Pluto Train 2 module program advances the Scarborough Energy Project towards the targeted delivery of first LNG in 2026.
Since February 2024, a total of 51 modules, weighing a combined 56,000 metric tonnes, have been shipped to Karratha from the module yard in Batam, Indonesia, where they were built.
Expanding the Pluto LNG facility to include a second LNG processing train provides an efficient way to process gas from the offshore Scarborough field.

Reported Earlier, Woodside's Scarborough LNG Project Reaches New Heights With Delivery Of Final Pluto Train 2 Components

Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) latest advancements in artificial intelligence and quantum computing are helping the tech giant rebuild its reputation and investor confidence.
What Happened: After the release of OpenAI's ChatGPT in late 2022, Google had reportedly <a href="https://www.benzinga.com/news/22/12/30170477/chatgpt-popularity-reportedly-leads-to-google-declaring-code-red-as-sundar-pichai-increases-involvem-1">declared a "Code Red,"</a>
The company faced criticism for lagging behind rivals like Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), which partnered with OpenAI to integrate ChatGPT-like capabilities into its products.
However, Google's latest developments have shifted the narrative, <a href="https://www.ft.com/content/3a3f8c9f-90fd-4e2f-94c4-b9977438e911">reported</a> Financial Times.
See Also: <a href="https://www.benzinga.com/tech/24/12/42378596/openais-chatgpt-makes-headway-in-search-threatening-googles-reign">OpenAI's ChatGPT Makes Headway In Search, Threatening Google's Reign</a>
"Alphabet has been under the microscope since ChatGPT was released," said Tiffany Hsia, a U.S. equity portfolio manager at AllianceBernstein and a Google shareholder. "Gemini 2.0 and the quantum chip give investors renewed confidence that they are one of the leading tech powerhouses."
This year, Google <a href="https://www.benzinga.com/24/12/42446686/google-introduces-ai-agent-prototype-that-can-browse-the-web">launched</a> Gemini 2.0, Veo 2 and Imagen 3 <a href="https://www.benzinga.com/tech/24/12/42609242/marques-brownlee-breaks-down-how-googles-ai-video-generator-veo2-outpaces-openais-sora">models for video and image</a> generation, along with a <a href="https://www.benzinga.com/24/12/42404763/pichai-and-musk-dream-big-about-quantum-computing-and-solar-energy-the-most-obvious-path-is-staring-at-our-eyes-literally">quantum computing breakthrough</a> with its Willow chip.
It also unveiled a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39206137/google-accelerates-ai-innovation-jpmorgan-bullish-on-alphabet-as-apple-microsoft-ri">custom AI accelerator chip</a>, the Trillium Tensor Processing Unit, to challenge Nvidia Corporation's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) dominance.
Other innovations include Project Mariner, which <a href="https://www.benzinga.com/24/12/42446686/google-introduces-ai-agent-prototype-that-can-browse-the-web">compiles research reports</a> and acts on behalf of users, and Project Astra, which enables real-time answers across text, video, and audio <a href="https://www.benzinga.com/news/24/05/38826439/at-google-io-2024-sundar-pichai-and-team-announces-new-gemini-models-project-astra-ai-fraud-protecti">through smart glasses</a>.
Why It Matters: Google has also faced growing competition and scrutiny. It still dominates the search market with a 90% share, but new players like OpenAI and Anthropic pose a <a href="https://www.benzinga.com/news/24/06/39426605/google-amazon-backed-openai-rival-anthropic-unveils-claude-3-5-sonnet-its-most-powerful-ai-yet">credible threat</a>.
The company also faces regulatory hurdles with the U.S. Department of Justice <a href="https://www.benzinga.com/news/legal/24/11/42053249/google-could-lose-chrome-browser-in-dojs-latest-antitrust-move">seeking to break up</a> Google's ad tech business and is challenging its dominance in search.
Last week, <a href="https://www.benzinga.com/tech/24/12/42635813/google-announces-major-layoffs-as-pichai-stresses-efficiency">Google also cut 10% of its top management</a> positions as part of a multi-year initiative to streamline operations and enhance efficiency.
Despite these challenges, Alphabet Class A and C shares have risen around 38% on a year-to-date basis.
It currently has a market capitalization of $2.351 trillion, making it the fifth most valuable company in the world following Apple, Nvidia, Microsoft and Amazon.
Price Action: Alphabet&#8217;s Class A shares rose by 1.54% on Friday, closing at $191.41, while Class C shares climbed 1.72% to end at $192.96, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>.
The latest analyst updates from JP Morgan, Goldman Sachs, and Baird place an average price target of $215.67 on Alphabet&#8217;s Class A shares, suggesting a potential gain of 11.87%.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/GOOGL/analyst-ratings"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/23014217/Screenshot-2024-12-23-at-12.12.07%E2%80%AFPM-1024x378.png" alt="" class="wp-image-703386" /></a></figure>
Similarly, Oppenheimer, Jefferies, and Pivotal Research have set an average price target of $225 for Class C shares, projecting an upside of 15.9%.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/GOOG/analyst-ratings"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/23014244/Screenshot-2024-12-23-at-12.12.35%E2%80%AFPM-1024x378.png" alt="" class="wp-image-703388" /></a></figure>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41141844/after-googles-2-7b-acquisition-of-founders-and-staff-this-ai-startup-abandons-large-language-model-p">After Google&#8217;s $2.7B Acquisition Of Founders And Staff, This AI Startup Abandons Large Language Model Plans And Shifts Focus Away From Chatbots</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Media

GOOG

GOOGL

MSFT

NVDA

Google Entered 'Code Red' After ChatGPT Release, But Gemini 2.0 And Quantum Chip Give Investors 'Renewed Confidence,' Says This Portfolio Manager

Starbucks Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) workers have expanded their strike to additional U.S. cities amid stalled wage negotiations during the crucial holiday shopping period, potentially <a href="https://www.benzinga.com/news/24/12/42609868/starbucks-workers-plan-strike-in-la-chicago-seattle-on-christmas-eve-amid-holiday-rush">affecting the coffee chain&#8217;s Christmas sales</a>, according to Workers United union.
What Happened: The five-day strike, which began Friday, has spread from initial locations in Los Angeles, Chicago, and Seattle to include stores in New Jersey, New York, Philadelphia, and St. Louis, the union said in a statement Saturday. Workers in Columbus, Ohio, Denver, and Pittsburgh are also participating in the walkout, reported Reuters.
At the heart of the dispute is Workers United&#8217;s proposal for substantial wage increases, including an immediate 64% rise in minimum hourly wages and a 77% increase over a three-year contract period. Starbucks has called these demands &#8220;unsustainable&#8221; and maintains that the strike has not significantly impacted its operations, noting that only a small fraction of its more than 11,000 U.S. locations are affected.
See Also: <a href="https://www.benzinga.com/24/12/42639737/trumps-call-to-reclaim-panama-canal-sparks-backlash-every-square-meter-belongs-to-panama-says-president-mulino">Trump&#8217;s Call To Reclaim Panama Canal Sparks Backlash: &#8216;Every Square Meter Belongs To Panama,&#8217; Says President Mulino</a>
Why It Matters: The strike comes at a critical time for Starbucks, which employs approximately 200,000 workers across its U.S. operations. While negotiations between the company and the union began in April, with over eight bargaining sessions leading to 30 agreements, key issues regarding wages, staffing, and <a href="https://www.benzinga.com/news/24/12/42609868/starbucks-workers-plan-strike-in-la-chicago-seattle-on-christmas-eve-amid-holiday-rush">schedules remain unresolved</a>.
Workers United has warned that the strike could expand to &#8220;hundreds of stores&#8221; by Christmas Eve, potentially disrupting one of the busiest retail periods of the year. 
Despite these labor challenges, Wall Street maintains a generally positive outlook on the company. Wells Fargo analyst Zachary Fadem, who holds an 86% accuracy <a href="https://www.benzinga.com/24/12/42260312/this-analyst-with-86-accuracy-rate-sees-more-than-12-upside-in-starbucks-here-are-5-stock-picks-for-last-week-from-wall-streets-most-accurate-analysts">rating according to Benzinga</a>, recently maintained an Overweight rating on Starbucks with a price target of $115, suggesting over 12% upside potential.
The current consensus <a href="https://www.benzinga.com/quote/SBUX/analyst-ratings">price target among 28 analysts</a> covering Starbucks stands at $103.85, with estimates ranging from Jefferies&#8217; low of $76 to Evercore ISI Group&#8217;s high of $120.
<figure class="wp-block-image aligncenter size-large is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/23012401/Screenshot-2024-12-23-at-11.53.13%E2%80%AFAM-1024x371.png" alt="" class="wp-image-703357" style="width:682px;height:auto" /></figure>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/12/42640010/palantir-and-anduril-reportedly-lead-consortium-partner-with-spacex-and-openai-to-compete-against-traditional-defense-contractors-in-850-billion-us-military-market">Palantir And Anduril Reportedly Lead Consortium, Partner With SpaceX And OpenAI To Compete Against Traditional Defense Contractors In $850 Billion US Military Market</a></li>
</ul>
Image Via Shutterstcok 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

SBUX

Starbucks Strike Expands To More US Cities As Wage Negotiations Stall During Busy Holiday Season

Sanofi initiates phase 3 program for PCV21 and expands collaboration with SK bioscience for next-generation pneumococcal conjugate vaccines
<ul>
<li>Pneumococcal disease remains a major global health challenge despite the availability of current vaccines</li>
<li>This 21-valent pneumococcal conjugate vaccine (PCV21) is the first pneumococcal conjugate vaccine candidate with more than 20 serotypes to enter phase 3 in infants &amp; toddlers</li>
</ul>

Sanofi Launches Phase 3 Trials For PCV21 And Strengthens Partnership With SK Bioscience On Next-Generation Pneumococcal Conjugate Vaccines

Another country now faces a significant risk of economic stagnation warned veteran economist Mohamed A. El-Erian, in an X post, as the the major economic power&#8217;s short-term bond yields plummeted to a two-decade low on Friday.
What Happened: The yield on one-year Chinese government debt sharply declined 17 basis points on Friday, settling at 0.85%, the lowest level observed in over 20 years since 2003. This followed a significant event earlier in the trading session when yields briefly dipped below the psychologically important 1% threshold.
El-Erian is the former CEO and co-CIO at Pimco and the current president of Queens College at Cambridge University. According to him, Japan is recovering from an &#8220;awful economic trap&#8221; while China moves toward &#8220;Japanification.&#8221;
Last month China&#8217;s long-term 30-year bond yields dipped below those of Japan. This development is interpreted by investors as a signal that the Chinese economy may be entering a phase of &#8220;Japanification,&#8221; characterized by sluggish economic growth and persistent low inflation.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">A common refrain 20 years ago in the West was that "Japan could not happen here." That was proven wrong for quite a few other advanced economies. Now it's China that faces the risk of "Japanification" … and, ironically, this as Japan itself is climbing out of that awful… <a href="https://t.co/9gl9oEgfuz">pic.twitter.com/9gl9oEgfuz</a>
&mdash; Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1870154630795010219?ref_src=twsrc%5Etfw">December 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/24/12/42610441/nikes-new-ceo-says-we-lost-our-obsession-with-sport-as-he-rebukes-old-strategies-on-performance-marketing-isolation-of-wholesalers-aims-to-create-demand">Nike&#8217;s New CEO Blames Promotions For Declining Profits, Says Turnaround Efforts May Hurt As Company Moves To Clear Excess Inventory: &#8216;We Lost Our Obsession With Sport&#8217;</a>
Why It Matters: Japanification refers to the economic phenomenon where a country experiences a prolonged period of sluggish economic growth, accompanied by low inflation, even when monetary policies are implemented to stimulate the economy. This situation often results in persistently low interest rates, as central banks struggle to combat deflationary pressures.
According to a <a href="https://www.goldmansachs.com/insights/articles/from_briefings_09-april-2021">note</a> by former chief Japan economist at Goldman Sachs, Naohiko Baba, who is now with Barclays, &#8220;Concerns about Japanification have been rising recently in Europe and particularly in China, where the working-age population is projected to decline significantly. Interestingly, however, despite its demographic headwinds, Japan's economy has still managed to grow, albeit modestly.&#8221;
China&#8217;s consumer price index increased by 0.2% year-on-year in November 2024, marking a slight slowdown from the previous month&#8217;s 0.3% increase and falling below the economists forecast. Meanwhile, China&#8217;s GDP growth for the first three quarters of 2024 reached approximately 4.8% year-on-year. As of December 2024, China&#8217;s key interest rates stood as follows: Loan Prime Rate (LPR) at 3.10% and above five-year LPR at 3.60%.
According to a <a href="https://www.ssga.com/au/en_gb/institutional/insights/economic-parallels-china-japan">paper</a> by the global financial services firm State Street Global Advisors, &#8220;China fares better than 1990s Japan in certain aspects — such as higher policy autonomy, stricter capital control, and lower urbanization ratio — the nation has higher policy uncertainty, a more extreme property-sector boom, worse demographic progression, and a more challenging strategic relationship with the U.S.&#8221;
&#8220;Proactive and coordinated policy response on both monetary and fiscal fronts to boost the public expectations of future growth will be critical if China is to avoid Japanification. This proactive policy response needs to be coupled with more long-term structural reforms to combat demographic transition and property sector drag,&#8221; the paper added.
A Dec. 9 <a href="http://cpc.people.com.cn/n1/2024/1209/c64094-40378540.html">statement </a>by the Chinese government said that it aims to implement proactive fiscal policies to stimulate economic growth. The government will maintain a moderately loose monetary policy to support economic activity, said the press release and it will utilize a combination of policy tools to effectively address economic challenges. The Chinese government also strives to actively encourage consumer spending to drive economic growth.
Read Next:
<ul>
<li><a href="http://MicroStrategy Stock Declines Over 14% Amid Heightened Volatility Over S&amp;P 500 Inclusion Concerns: Here's What Is Happening">MicroStrategy Stock Declines Over 14% Amid Heightened Volatility Over S&amp;P 500 Inclusion Concerns: Here&#8217;s What Is Happening</a></li>
</ul>

Government

Regulations

Bonds

Mohammed El Erian Says This Country Faces Japan-Style Economic Risk Even As Tokyo Rebounds

Popular dog-themed cryptocurrency Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) spiked late Sunday night after President-elect Donald Trump recruited longtime loyalist Katie Miller to the Department of Government Efficiency, overseen by billionaire Elon Musk and former presidential candidate Vivek Ramaswamy.
What happened: Through his Truth Social account, Trump announced, "Katie Miller will soon be joining DOGE! She has been a loyal supporter of mine for many years, and will bring her professional experience to Government Efficiency."
Miller expressed gratitude to Trump for the appointment and said, "Deeply honored to work for you at DOGE to make our government efficient and accountable. Let's Make America Great Again!"
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Thank you <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a> for your trust. Deeply honored to work for you at DOGE to make our government efficient and accountable. Let's Make America Great Again! <a href="https://t.co/JYuvCEu6mp">https://t.co/JYuvCEu6mp</a>
&mdash; Katie Miller (@katierosemiller) <a href="https://twitter.com/katierosemiller/status/1870990234361778534?ref_src=twsrc%5Etfw">December 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:<a href="https://www.benzinga.com/24/12/42519107/if-you-invested-1000-in-bitcoin-when-the-first-bitcoin-etf-was-filed-heres-how-much-youd-have-today"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42560698/microstrategys-aggressive-bitcoin-strategy-raises-eyebrows-in-crypto-community">MicroStrategy&#8217;s Aggressive Bitcoin Strategy Raises Eyebrows In Crypto Community</a>.
Why It Matters: Miller served as deputy press secretary at the Department of Homeland Security in Trump's first administration. She later took over as press secretary for former Vice President Mike Pence.
Miller's husband, Stephen Miller, was named as Deputy Chief of Staff for Policy in the upcoming Trump administration.
Floated by Musk and greenlighted by Trump, the Department of Government Efficiency, popularly known as <a href="https://www.benzinga.com/news/24/11/41965420/elon-musk-vivek-ramaswamy-led-department-of-government-efficiency-opens-account-on-x-says-it-is-working-overtime">DOGE</a>, is aimed at bringing down government bureaucracy, slashing excess regulations, cutting waste expenditures, and restructuring federal agencies.
Dogecoin, a cryptocurrency that <a href="https://www.benzinga.com/markets/cryptocurrency/23/12/36355033/elon-musk-loves-dogecoin-but-says-he-doesnt-spend-a-lot-of-time-thinking-of-cryptocurrency">Musk has expressed interest in in recent years</a>, has gained in response to developments surrounding the department.
Price Action: At the time of writing, Dogecoin was exchanging hands at $0.315, up 2.19 % in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42545656/bitcoin-is-no-manhattan-real-estate-peter-schiff-challenges-microstrategys-micheal-saylor-btc-doesnt-generate-any-income">Bitcoin Is No Manhattan Real Estate, Peter Schiff Challenges MicroStrategy&#8217;s Michael Saylor: &#8216;BTC Doesn&#8217;t Generate Any Income&#8217;</a></li>
</ul>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Politics

$DOGE

Dogecoin Turns Green As Trump Appoints Loyalist Katie Miller To The Department Of Government Efficiency

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) executive Sendil Palani on Sunday bemoaned the cost of sending letters to customers whose vehicles were affected by the <a href="https://www.benzinga.com/markets/equities/24/12/42613937/tesla-stock-falls-over-5-during-pre-market-after-elon-musk-led-ev-giant-recalls-nearly-700000-vehicles">recent recall issued by the company</a>.
What Happened: Palani termed the mandate of sending letters to affected owners as a waste of time and money.
&#8220;The OEM has to pay for printing, postage (now up to $0.73 per letter), and administration,&#8221; Palani, Vice President of Finance at Tesla, said. 
U.S. auto safety regulator National Highway Traffic Safety Administration (NHTSA) said on Friday that Tesla is <a href="https://www.benzinga.com/markets/equities/24/12/42613937/tesla-stock-falls-over-5-during-pre-market-after-elon-musk-led-ev-giant-recalls-nearly-700000-vehicles">recalling 694,304 Cybertruck, Model 3, and Model Y vehicles</a> citing concerns about the tire pressure monitoring system warning lights. Tesla released an over-the-air software update aimed at fixing the issue. 
As per Palani&#8217;s estimate, posting the letters notifying customers of the recent recall alone could cost Tesla up to $506,000. 
Palani also said on Sunday that in the case of Tesla&#8217;s recalls, &#8220;very often&#8221; the issue has been resolved before vehicle owners receive the mail as many of the issues are fixed via over-the-air software updates.
In July, Tesla recalled over 1.8 million vehicles over concerns that an unlatched hood can fully open when driving, obstructing the driver's view and increasing the risks of a crash. The company, then too, fixed the issue via an over-the-air update. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Wastes time and money too. The OEM has to pay for printing, postage (now up to $0.73 per letter), and administration. In Tesla&#39;s case, the issue has very often been resolved prior to mail delivery.
&mdash; Sendil Palani (@sendilpalani) <a href="https://twitter.com/sendilpalani/status/1870940251310772315?ref_src=twsrc%5Etfw">December 22, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Earlier this year, Tesla CEO Elon Musk himself <a href="https://www.benzinga.com/news/24/02/37148735/tesla-ceo-elon-musk-urges-nhtsa-to-end-requirement-for-physical-letters-regarding-recalls-fixed-via">called upon the NHTSA</a> to stop the requirement of mailing physical letters to vehicle owners for recalls fixed via an over-the-air (OTA) update.
&#8220;This needs to stop,&#8221; Musk wrote on X.
Musk and several other Tesla executives have previously even <a href="https://www.benzinga.com/news/24/02/36921334/elon-musk-criticizes-labeling-over-the-air-fixes-as-recalls-for-tesla-vehicles-by-that-anachronistic" target="_blank" rel="noreferrer noopener">condemned the use of the word &#8220;recall&#8221;</a> for vehicle issues that are fixed via an over-the-air (OTA) software update.
&#8220;This &#8216;recall&#8217; literally just changes a few pixels on the screen with an over-the-air update. By that anachronistic standard, phones are being "recalled" every few weeks,&#8221; Musk said in February after the company issued a &#8220;recall&#8221; for about <a href="https://www.benzinga.com/news/24/02/36906058/tesla-initiates-first-ever-cybertruck-recall-as-part-of-larger-2-2m-vehicle-callback" target="_blank" rel="noreferrer noopener">2.2 million vehicles</a> due to concerns about a smaller font size for warning lights compromising the visibility of crucial safety information.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42056899/jim-cramer-thinks-trumps-plans-for-robotaxis-are-fanciful-but-he-is-still-bullish-on-tesla-stock-the-musk-premium-will-work-its-magic-in-other-ways" target="_blank" rel="noreferrer noopener">Jim Cramer Thinks Trump's Plans For Robotaxis Are ‘Fanciful,' But He Is Still Bullish On Tesla Stock: ‘The Musk Premium Will Work Its Magic In Other Ways'</a></li>
</ul>
Photo courtesy: Shutterstock

Tesla Exec Bemoans Cost Of Sending Letter To Owners Affected By EV Giant's Recent Recall Of Nearly 700,000 Vehicles

Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) executives and board members have capitalized on the company&#8217;s remarkable stock performance in 2024, selling $1.25 billion worth of shares as the streaming giant&#8217;s market value approaches $100 billion.
What Happened: Co-founders Daniel Ek and Martin Lorentzon led the selling spree, collecting $350 million and $550 million respectively, according to U.S. Securities and Exchange Commission filings. The stock sales accelerated in November and December, involving approximately 20 company leaders.
The streaming service&#8217;s shares have nearly tripled in 2024, marking a dramatic recovery from 2022-2023 when its market capitalization fell below $20 billion. The turnaround follows successful cost-cutting measures, <a href="https://www.benzinga.com/news/23/12/36063807/spotify-to-layoff-17-of-workforce-being-lean-is-not-just-an-option-but-a-necessity-says-ceo-daniel-e">including a 25% workforce reduction</a> in 2023, and price increases across multiple markets.
Key executives joining the selling wave include Chief Product and Technology Officer Gustav Söderström ($106 million), Chief Business Officer Alex Norström ($63 million), and Chief Human Resources Officer Katarina Berg ($38 million). Netflix CEO Ted Sarandos, a Spotify board member since 2016, sold $6 million in stock.
See Also: <a href="https://www.benzinga.com/24/12/42640181/microstrategys-michael-saylor-proposes-digital-assets-framework-for-us-advocates-bitcoin-reserve-capable-of-generating-1681-trillion-in-wealth">Michael Saylor Proposes US Digital Assets Framework, Backs Bitcoin Reserve Capable Of Generating $16–$81 Trillion In Wealth</a>
Why It Matters: JPMorgan recently named Spotify <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42561047/amazon-meta-alphabet-spotify-lead-jpmorgans-2025-tech-picks-for-ai-potential">among its top tech picks for 2025</a>, alongside Amazon.com Inc., Meta Platforms Inc., and Alphabet Inc., citing AI-driven growth potential. However, investment firm Ark Invest, led by Cathie Wood, sold approximately $4.8 million worth of Spotify <a href="https://www.benzinga.com/24/12/42281575/cathie-woods-monday-moves-4-8m-spotify-stock-sale-meets-4-7m-pinterest-shopping-spree">shares in early December</a>.
Price Action: Spotify closed at $460.88 on Friday, up by 1.48%. In after-hours trading, the stock slightly gained, reaching $461.06. Year-to-date, Spotify&#8217;s stock has surged 144.11%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Spotify has a <a href="https://www.benzinga.com/quote/SPOT/analyst-ratings">consensus price target</a> of $402.19, based on 32 analysts. The highest target is $560, and the lowest is $190. The most recent ratings, from Canaccord Genuity and Goldman Sachs, suggest a 13.87% upside, with an average target of $525.
<figure class="wp-block-image aligncenter size-large is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/22231018/Screenshot-2024-12-23-at-9.39.14%E2%80%AFAM-1024x372.png" alt="" class="wp-image-703228" style="width:578px;height:auto" /></figure>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/12/42640010/palantir-and-anduril-reportedly-lead-consortium-partner-with-spacex-and-openai-to-compete-against-traditional-defense-contractors-in-850-billion-us-military-market">Palantir And Anduril Reportedly Lead Consortium, Partner With SpaceX And OpenAI To Compete Against Traditional Defense Contractors In $850 Billion US Military Market</a></li>
</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Comments

Food Culture

News

Latest news for Food Culture (OTC:FCUL) Stock

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga