Rooting for Donald Trump to fail has rarely been this profitable. Just ask a hardy band of mostly amateur investors who have collectively made tens of millions over the past month by betting that the stock price of his social media business – Truth Social – will keep dropping despite wild swings that appear to mirror the candidate’s latest polls, court trials and outbursts on Truth Social itself. Several of these investors interviewed by The Associated Press say their bearish gambles using “put” options are driven less by their personal feelings about the former president than by their enduring faith in the woeful underlying financials of the company. Read moreRooting for Trump to fail has made his stock shorters millions
Expectations are tempered for the financial prospects of summer of 2024 at the movies. There are fewer superheroes than normal in a landscape that was vastly altered by the production shutdowns during last year's dual Hollywood strikes. Last summer brought a new enthusiasm at theaters, with “Barbie” and “Oppenheimer,” and surprise hits like “Sound of Freedom,” helping the season’s box office crack $4 billion for the first time since 2019. This summer has splashy, anticipating offerings too, like “Deadpool & Wolverine,” “Twisters,” “Inside Out 2,” “Furiosa” and a two-part Kevin Costner Western. But can it reach $4 billion? Read moreThe summer after Barbenheimer and the strikes, Hollywood charts a new course
Temporary farmworkers are getting more legal protections against employer retaliation, unsafe working conditions, illegal recruitment and other abuses. The rule announced Friday by the Biden administration aims to bolster support for workers on H-2A visas. Each year, hundreds of thousands of immigrants, mostly from Mexico, take on seasonal jobs in U.S. agriculture. The proposal drew nearly 13,000 public comments after it was announced in September. Pro-labor groups applauded the changes, while some business groups warned of excessive regulatory burdens. The rule takes effect June 28. Read moreTemporary farmworkers get more protections against retaliation and other abuses under new rule