Name: Big banks announce plans to cut back on end-of-year bonuses
Uploaded: 2022-12-02T21:38:11Z
Duration: P133S
Description: Bonus pools are shrinking at some of the biggest banks this year, including Goldman Sachs, JP Morgan, Citi, and Bank of America.

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The $630 billion space industry is expected to grow to $1.8 trillion by 2035, according to the World Economic Forum. Much of that growth will come from the emerging commercial space market, led by companies such as Elon Musk’s SpaceX.
Many smaller companies are following a similar path. Yahoo Finance got an inside look at how one of those companies operates: Firefly Aerospace. Firefly has multiple facilities outside Austin, TX, and recently doubled the size of its 200-acre rocket ranch to automate large portions of production and reduce costs.
Firefly’s mission is to become an end-to-end space transportation company. The company is manufacturing rockets, including an upcoming medium launch vehicle in partnership with Northrop Grumman (<a data-i13n="cpos:1;pos:1" href="https://finance.yahoo.com/quote/NOC/">NOC</a>), orbital vehicles to service spacecraft on their missions, and landers.
One of those landers, Blue Ghost, is set to become the third American commercial spacecraft to attempt a lunar landing later this year. That mission is backed by a $112 million NASA grant, part of the agency’s $2.6 billion Commercial Lunar Payload Services initiative, aimed at developing reliable transportation options to the moon for supplies and research—a step in the Artemis mission to put humans back on the moon.
If you’re going to future-proof your portfolio, you need to know what’s NEXT. In this series, Yahoo Finance will feature stories that give a glimpse at the future, and show how companies are making big moves today that will matter tomorrow.
For more on our NEXT series, click <a data-i13n="cpos:2;pos:1" href="https://finance.yahoo.com/live/next">here</a>, and tune in to <a data-i13n="cpos:3;pos:1" href="https://www.youtube.com/yahoofinance">Yahoo Finance Live</a> for more expert insight and the latest market action, Monday through Friday.

The $630 billion space industry is expected to grow to $1.8 trillion by 2035, according to the World Economic Forum. Much of that growth will come from the emerging commercial space market, led by companies such as Elon Musk’s SpaceX. Many smaller companies are following a similar path. Yahoo Finance got an inside look at how one of those companies operates: Firefly Aerospace. Firefly has multiple facilities outside Austin, TX, and recently doubled the size of its 200-acre rocket ranch to automate large portions of production and reduce costs. Firefly’s mission is to become an end-to-end space transportation company. The company is manufacturing rockets, including an upcoming medium launch vehicle in partnership with Northrop Grumman (NOC), orbital vehicles to service spacecraft on their missions, and landers. One of those landers, Blue Ghost, is set to become the third American commercial spacecraft to attempt a lunar landing later this year. That mission is backed by a $112 million NASA grant, part of the agency’s $2.6 billion Commercial Lunar Payload Services initiative, aimed at developing reliable transportation options to the moon for supplies and research—a step in the Artemis mission to put humans back on the moon. If you’re going to future-proof your portfolio, you need to know what’s NEXT. In this series, Yahoo Finance will feature stories that give a glimpse at the future, and show how companies are making big moves today that will matter tomorrow. For more on our NEXT series, click here, and tune in to Yahoo Finance Live for more expert insight and the latest market action, Monday through Friday.

Following the SpaceX playbook: Inside Firefly’s Rocket Ranch

In an effort to combat excessive phone usage and promote a healthier relationship with technology, dumbwireless Co-Founder Will Stults joins Yahoo Finance to discuss the "dumbphone" and its capabilities, as well as its underlying purpose.
Stults describes the device as "a one-stop shop" for "non-smartphones and other low-tech solutions," designed to empower individuals to "have a better relationship with their screen time." He acknowledges that the dumbphone has sparked conversation as this generation becomes increasingly addicted to screen time, stating, "A lot of us are in agreement that we need to take additional measures to reduce screen time."
Stults emphasizes that the phones are "simple talk and text devices," purposefully designed to minimize screen time. He notes that their target audience comprises parents seeking a first phone for their children and individuals aged 20-30 who are actively looking to curb their screen time.
For more expert insight and the latest market action, click <a data-i13n="cpos:1;pos:1" href="https://finance.yahoo.com/video/microsoft-alphabet-earnings-fuel-stock-173051064.html">here</a> to watch this full episode of Yahoo Finance.
This post was written by <a data-i13n="cpos:2;pos:1" href="https://www.yahoo.com/author/angel-smith/">Angel Smith</a>

In an effort to combat excessive phone usage and promote a healthier relationship with technology, dumbwireless Co-Founder Will Stults joins Yahoo Finance to discuss the "dumbphone" and its capabilities, as well as its underlying purpose. Stults describes the device as "a one-stop shop" for "non-smartphones and other low-tech solutions," designed to empower individuals to "have a better relationship with their screen time." He acknowledges that the dumbphone has sparked conversation as this generation becomes increasingly addicted to screen time, stating, "A lot of us are in agreement that we need to take additional measures to reduce screen time." Stults emphasizes that the phones are "simple talk and text devices," purposefully designed to minimize screen time. He notes that their target audience comprises parents seeking a first phone for their children and individuals aged 20-30 who are actively looking to curb their screen time. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance. This post was written by Angel Smith

How the 'Dumbphone' aims to break excessive screen time habits

Younger families are increasingly <a data-i13n="cpos:1;pos:1" href="https://www.usatoday.com/story/travel/hotels/2023/10/15/young-travelers-timeshares-buying/71079703007/">turning to timeshares</a>, a service offered by Travel + Leisure Co. (<a data-i13n="cpos:2;pos:1" href="https://finance.yahoo.com/quote/TNL?.tsrc=fin-srch">TNL</a>), which recently topped earnings estimates for the first quarter. Travel + Leisure CEO Mike Brown joins Yahoo Finance to discuss the company's niche in the vacation ownership market and broader travel trends. 
Travel + Leisure's "very strong Q1" was driven by consumer demand to purchase timeshares, Brown says. "Leisure travel doesn't seem to be slowing from our perspective," he adds, pointing to the Sun Belt, Florida theme parks, and East Coast beaches as particularly popular destinations. 
The post-pandemic transformation of work has boosted the company's length of stay, the CEO explains, with consumers getting away from the office earlier and working remotely toward the end of the week. Accommodations like timeshares that offer more space "are at the front end" of what consumers desire for future vacations, Brown adds. 
Though Airbnb and VRBO also offer rentals with more space, Brown says Travel + Leisure's commitment to brand differentiates the company from vacation rental businesses. Highlighting the Margaritaville and Wyndham collections, Brown says consumers like the consistency a brand provides. "That's what we offer: brand and great value in vacation ownership," the CEO tells Yahoo Finance. 
For more expert insight and the latest market action, click <a data-i13n="cpos:3;pos:1" href="https://finance.yahoo.com/video/microsoft-alphabet-earnings-fuel-stock-173051064.html">here</a> to watch this full episode.
This article was written by Gabriel Roy.

Younger families are increasingly turning to timeshares, a service offered by Travel + Leisure Co. (TNL), which recently topped earnings estimates for the first quarter. Travel + Leisure CEO Mike Brown joins Yahoo Finance to discuss the company's niche in the vacation ownership market and broader travel trends.&nbsp; Travel + Leisure's "very strong Q1" was driven by consumer demand to purchase timeshares, Brown says. "Leisure travel doesn't seem to be slowing from our perspective," he adds, pointing to the Sun Belt, Florida theme parks, and East Coast beaches as particularly popular destinations.&nbsp; The post-pandemic transformation of work has boosted the company's length of stay, the CEO explains, with consumers getting away from the office earlier and working remotely toward the end of the week. Accommodations like timeshares that offer more space "are at the front end" of what consumers desire for future vacations, Brown adds.&nbsp; Though Airbnb and VRBO also offer rentals with more space, Brown says Travel + Leisure's commitment to brand differentiates the company from vacation rental businesses. Highlighting the Margaritaville and Wyndham collections, Brown says consumers like the consistency a brand provides. "That's what we offer: brand and great value in vacation ownership," the CEO tells Yahoo Finance.&nbsp; For more expert insight and the latest market action, click here to watch this full episode. This article was written by Gabriel Roy.

Timeshares are in: Travel + Leisure tops Q1 earnings estimates

Pharmaceutical giant AbbVie Inc. (<a data-i13n="cpos:1;pos:1" href="https://finance.yahoo.com/quote/ABBV?.tsrc=fin-srch">ABBV</a>) shares came under pressure as the market closed on Friday, following the disappointing first quarter sales performance of the company's arthritis drug, Humira. The company forecast that Humira's sales could slow further in the face of heightened competition.
Yahoo Finance's health reporter <a data-i13n="cpos:2;pos:1" href="https://www.yahoo.com/author/anjalee-khemlani/?.tsrc=fin-srch">Anjalee Khemlani </a>breaks down the details, providing insight into the rise of biosimilars in the market.
For more expert insight and the latest market action, click <a data-i13n="cpos:3;pos:1" href="https://finance.yahoo.com/video/microsoft-alphabet-earnings-fuel-stock-173051064.html">here</a> to watch this full episode of Yahoo Finance.
This post was written by <a data-i13n="cpos:4;pos:1" href="https://www.yahoo.com/author/angel-smith/">Angel Smith</a>

Pharmaceutical giant AbbVie Inc. (ABBV) shares came under pressure as the market closed on Friday, following the disappointing first quarter sales performance of the company's arthritis drug, Humira. The company forecast that Humira's sales could slow further in the face of heightened competition. Yahoo Finance's health reporter Anjalee Khemlani breaks down the details, providing insight into the rise of biosimilars in the market. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance. This post was written by Angel Smith

Abbvie stock falls amid growing biosimilar competition

President Biden<a data-i13n="cpos:1;pos:1" href="https://finance.yahoo.com/video/biden-signs-tiktok-ban-bill-162145350.html"> has signed legislation that forces ByteDance</a>, the parent company of TikTok, to either divest its operations or face a ban in the US. Xcel Brands CEO & ORME Co-Founder Robert D'Loren joins Yahoo Finance to discuss what the legislation means for content creators and brands moving forward.
D'Loren acknowledges TikTok's status as "one of the most important social media platforms" for brands and influencers, offering opportunities for business growth and exposure. However, with uncertainty looming over TikTok's future in the United States, D'Loren advises users to "hope for the best, plan for the worst."
Highlighting the resilience of the creative community, D'Lorene emphasizes their adaptability stating, "never underestimate a crowd." Even in the event of a TikTok ban, he expresses confidence that creators would find "the next best platform" to maintain their presence.
"I think we're going to see more and more people, given the uncertainty with TikTok, beginning to migrate to new platforms," he tells Yahoo Finance.
For more expert insight and the latest market action, click <a data-i13n="cpos:2;pos:1" href="https://finance.yahoo.com/video/microsoft-alphabet-earnings-fuel-stock-173051064.html">here</a> to watch this full episode of Yahoo Finance.
This post was written by <a data-i13n="cpos:3;pos:1" href="https://www.yahoo.com/author/angel-smith/">Angel Smith</a>

President Biden has signed legislation that forces ByteDance, the parent company of TikTok, to either divest its operations or face a ban in the US. Xcel Brands CEO & ORME Co-Founder Robert D'Loren joins Yahoo Finance to discuss what the legislation means for content creators and brands moving forward. D'Loren acknowledges TikTok's status as "one of the most important social media platforms" for brands and influencers, offering opportunities for business growth and exposure. However, with uncertainty looming over TikTok's future in the United States, D'Loren advises users to "hope for the best, plan for the worst." Highlighting the resilience of the creative community, D'Lorene emphasizes their adaptability stating, "never underestimate a crowd." Even in the event of a TikTok ban, he expresses confidence that creators would find "the next best platform" to maintain their presence. "I think we're going to see more and more people, given the uncertainty with TikTok, beginning to migrate to new platforms," he tells Yahoo Finance. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance. This post was written by Angel Smith

What a TikTok ban could mean for creators

Yahoo Sports' Draft Live crew reacts to San Francisco's selection of the Florida wide receiver 31st overall in the 2024 NFL Draft.

Yahoo Sports' Draft Live crew reacts to San Francisco's selection of the Florida wide receiver 31st overall in the 2024 NFL Draft.

Why 49ers fans should love the Ricky Pearsall pick

According to a report from the <a data-i13n="cpos:1;pos:1" href="https://www.wsj.com/economy/central-banking/trump-allies-federal-reserve-independence-54423c2f">Wall Street Journal</a>, allies of former President Donald Trump are drawing up plans that would erode the Federal Reserve's independence. Former Federal Reserve Board Special Adviser & Dartmouth College Economics Professor Andrew Levin joins Market Domination Overtime to discuss the impacts of potential second term from the former President on the Fed.
Levin explains that existing laws already allow permit a degree of intervention in the Fed's actions: "[The report] talked about the possibility that the Secretary of the Treasury would be involved. Under current law, back to Dodd-Frank, so more than ten years ago, Secretary of the Treasury already has authority to be very involved with the Federal Reserve's emergency facilities. What's reasonable to say is past secretaries haven't used that authority very much. They've been kind of hands off in letting the Fed do what it sees fit in terms of these emergency facilities. But again, under Dodd-Frank, there is latitude if there were a financial emergency, we're talking about a crisis, something like the COVID pandemic or the crisis of 2008., that the Secretary of the Treasury could be more involved in working with the Fed."
For more expert insight and the latest market action, click <a data-i13n="cpos:2;pos:1" href="https://finance.yahoo.com/video/microsoft-alphabet-earnings-fuel-stock-173051064.html">here</a> to watch this full episode of Market Domination Overtime.
This post was written by <a data-i13n="cpos:3;pos:1" href="https://www.yahoo.com/author/nicholas-jacobino/">Nicholas Jacobino</a>

According to a report from the Wall Street Journal, allies of former President Donald Trump are drawing up plans that would erode the Federal Reserve's independence. Former Federal Reserve Board Special Adviser & Dartmouth College Economics Professor Andrew Levin joins Market Domination Overtime to discuss the impacts of potential second term from the former President on the Fed. Levin explains that existing laws already allow permit a degree of intervention in the Fed's actions: "[The report] talked about the possibility that the Secretary of the Treasury would be involved. Under current law, back to Dodd-Frank, so more than ten years ago, Secretary of the Treasury already has authority to be very involved with the Federal Reserve's emergency facilities. What's reasonable to say is past secretaries haven't used that authority very much. They've been kind of hands off in letting the Fed do what it sees fit in terms of these emergency facilities. But again, under Dodd-Frank, there is latitude if there were a financial emergency, we're talking about a crisis, something like the COVID pandemic or the crisis of 2008., that the Secretary of the Treasury could be more involved in working with the Fed." For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Nicholas Jacobino

Trump allies consider plans to remodel Federal Reserve: WSJ

As Yahoo Finance coverage draws to a close for the week, here are the events to watch for next week.
Federal Reserve Chair Jerome Powell is set to announce a highly anticipated decision on monetary easing policy on Wednesday. Market participants are hoping for a potential rate cut.
The earnings season continues, with a multitude of companies slated to release their first quarter results. Tech giants Amazon (<a data-i13n="cpos:1;pos:1" href="https://finance.yahoo.com/quote/AMZN?.tsrc=fin-srch">AMZN</a>), Apple (<a data-i13n="cpos:2;pos:1" href="https://finance.yahoo.com/quote/AAPL?.tsrc=fin-srch">AAPL</a>), and Qualcomm (<a data-i13n="cpos:3;pos:1" href="https://finance.yahoo.com/quote/QCOM?.tsrc=fin-srch">QCOM</a>) will take center stage.
For more expert insight and the latest market action, click <a data-i13n="cpos:4;pos:1" href="https://finance.yahoo.com/video/microsoft-alphabet-earnings-fuel-stock-173051064.html">here</a> to watch this full episode of Market Domination Overtime.
This post was written by <a data-i13n="cpos:5;pos:1" href="https://www.yahoo.com/author/angel-smith/">Angel Smith</a>

As Yahoo Finance coverage draws to a close for the week, here are the events to watch for next week. Federal Reserve Chair Jerome Powell is set to announce a highly anticipated decision on monetary easing policy on Wednesday. Market participants are hoping for a potential rate cut. The earnings season continues, with a multitude of companies slated to release their first quarter results. Tech giants Amazon (AMZN), Apple (AAPL), and Qualcomm (QCOM) will take center stage. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Angel Smith

Fed decision, Big Tech earnings: What to watch

Jack

Bonus pools are shrinking at some of the biggest banks this year, including Goldman Sachs, JP Morgan, Citi, and Bank of America.

Big banks announce plans to cut back on end-of-year bonuses

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Bonus pools are shrinking at some of the biggest banks this year, including Goldman Sachs, JP Morgan, Citi, and Bank of America.

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Big banks announce plans to cut back on end-of-year bonuses

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