Monthly Archives: March 2022

Disney (DIS) is fighting back against Florida's controversial Parental Rights in Education Act, which critics have infamously dubbed the "Don't Say Gay" bill.

On Monday, Florida Governor Ron DeSantis officially signed the bill into law. The media giant released the following statement in response:

Floridas HB 1557, also known as the Dont Say Gay bill, should never have passed and should never have been signed into law. Our goal as a company is for this law to be repealed by the legislature or struck down in the courts, and we remain committed to supporting the national and state organizations working to achieve that. We are dedicated to standing up for the rights and safety of LGBTQ+ members of the Disney family, as well as the LGBTQ+ community in Florida and across the country.

Disney's statement follows a string of employee-staged walkouts in protest of CEO Bob Chapek's handling of the law, which prohibits classroom discussions regarding sexual orientation and gender identity in public schools for students between kindergarten and third grade.

The law, which will go into effect on July 1, states, Classroom instruction by school personnel or third parties on sexual orientation or gender identity may not occur in kindergarten through grade 3 or in a manner that is not age appropriate or developmentally appropriate for students in accordance with state standards. Parents will be able to sue districts over violations.

Chapek, who initially decided not to speak publicly on the matter, opted to work behind the scenes in an attempt to soften the legislation. It didn't work.

The executive eventually reversed course following intense backlash. He publicly denounced the act during the company's annual shareholder meeting on March 9, but was still criticized for taking a soft stance.

Two days later, Chapek went a step further and directly apologized to employees in a company memo, writing in part, "You needed me to be a stronger ally in the fight for equal rights and I let you down. I am sorry."

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Still, some workers think the gesture was too little, too late.

Disney CEO Bob Chapek faced heavy backlash amid the company's initial response to Florida's so-called "Don't Say Gay" bill

"We expect more from the CEO," Nicholas Luis Maldonado, a current Disney employee who participated in last week's walkout, told Yahoo Finance in a recent interview.

"I just want to be proud to say I'm a Disney World employee [again], but at this time right now, I'm just not feeling the Disney magic," he continued.

A Disney spokesperson responded to the walkouts in a statement, writing, "We know how important this issue is for our LGBTQ+ employees, their families and allies, we respect our colleagues right to express their views, and we pledge our ongoing support of the LGBTQ+ community in the fight for equal rights."

The statement followed an all-company virtual town hall (dedicated to issues surrounding the LGBTQIA+ community), in addition to the revelation of a new task force that Disney says will "develop action plans to make more LGBT-aware content for children and family."

The company also unveiled that Chapek and other senior leaders will conduct a global listening tour and meet with employees in the U.S. and internationally.

"It's a step in the right direction by their statement, but so much more is needed to be done beyond today," Maldonado said. He added that he hopes the company holds more town halls and open forums, in addition to further public statements both in support of the community, and "against any future anti-LGBTQ legislation."

ORLANDO, FL - MARCH 22: Disney employee Nicholas Maldonado holds a sign while protesting outside of Walt Disney World on March 22, 2022 in Orlando, Florida. Employees are staging a company-wide walkout today to protest Walt Disney Co.'s response to controversial legislation passed in Florida known as the Dont Say Gay bill. (Photo by Octavio Jones/Getty Images)

David Huerta, president of Service Employees International Union-United Service Workers West (SEIU-USWW), told Yahoo Finance that "this is a necessary fight."

The California-based union represents several worker classifications within Disney, including costume and custodial.

"Our members expect Disney to be a good corporate citizen...I think for too long corporate America has been looking after its own interests, and not really understanding the impact that that they have on issues that go beyond the workplace," he said.

Huerta went on to explain that big-name corporations like Disney have a responsibility that extends beyond their core businesses, referencing recent employee fights at Starbucks (SBUX), Amazon (AMZN), Kellogg (K), and Netflix (NFLX).

"I think workers realize that they have more power than then they give themselves credit for," Huerta said.

He added that holding employers accountable is "a damn good thing" that's "long overdue."

"Working people do have power and their power is stronger when they stand together, shoulder to shoulder, than when they stand alone," he concluded.

Alexandra is a Senior Entertainment and Food Reporter at Yahoo Finance. Follow her on Twitter @alliecanal8193

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Disney to fight 'Dont Say Gay bill: 'It should never have been signed into law' - Yahoo Finance

Portland Trail Blazers star Damian Lillard spoke to Yahoo Sports in his first interview since it was announced hed be sidelined for the remainder of the 2021-22 season to continue rehabbing from abdominal surgery he underwent in January.

The six-time All-Star revealed how he feels physically, what he learned during the rehab process, why he believes we havent seen the best of him, what Portland needs to do in the critical offseason to contend for a title, his personal and collective goals and the impact family has had in his recovery.

Chris Haynes: Tell me about your rehab process and where youre at. This is obviously something youve never experienced in the NBA, having to sit out an extended period of time due to an injury. How has it been?

Damian Lillard: Its been cool, bro. I knew it was going be a hurdle to just get used to not playing and traveling, and being in the mix. And once I kind of came to peace with that, which took like a month, I just threw myself into the rehab process and the, the areas I could grow and the things that I could put my energy into. That helped me a lot to this point. I haven't had a chance in 10 years to take a step back and let my mind relax and to let my body fully recover and relax and have a true opportunity to ramp up and train and start back with my foundation, who I am as a player and spend time with my family, my kids and my wife. So, I feel strong, mentally and physically. I still got six, seven months before next season. I feel great. I love the opportunities that I've had through this injury because there were a lot of positives that came from a negative situation. Now, it's just a matter of balancing these next six or seven months and making sure I'm not burning myself out from training or burning myself out from trying to ramp up. Its just cruising the rest of the way.

Portland Trail Blazers star Damian Lillard opened up about his rehab after abdominal surgery that sidelined him for the remainder of the 2021-22 season. (Soobum Im/Getty Images)

CH: You've dealt with that pain in your abdominal the last two or three years. Does that pain exist now?

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DL: No. It's the first time that I can say I was pain-free since maybe 2016, 2017. I think that's when I first started having issues. That was the last time I was probably moving freely, easily and just flowing the way I am right now. Its a good feeling working out the other day and the coaching staff kept asking what I was thinking about because I had a smile on my face. I was just like, Damn, I got so used to playing with that pain that I didn't realize how limited I was and how much I was just catering to playing around it. So, I'm definitely excited to be playing at 100 percent right now and playing free.

CH: You accomplished amazing feats during that period of dealing with that pain. What does that say about you?

DL: I'm not saying Im going to be a thousand times better than what I was because I had some great seasons while dealing with it. I just think it just shows if anything, how strong the mind is and the fact that I was able to still be the level of player that I've been over these last three or four years. I've been able to block out the physical part and the issues I was having. And to get the procedure done now, it was going to be a lot less stress going into games wondering how it's going respond and if it's going lock up on me, or if I'm going to feel stiff and slow. Going into games just knowing I'm healthy and I'm not going to have to deal with it, that factor alone is good enough for me. So, I'm excited about that.

CH: Did you miss the competition of the game? Has it been hard being away?

DL: I got off social media for a little bit just for my own peace of mind. I wanted to at least give myself a chance to miss the game. I actually was telling one of our coaches last night on the bench at our game that I'm finally starting to get that feeling of, damn, I miss playing and being a part of the action. That excitement to play and wanting to be on the court came back. That feeling has been coming back recently. Its not that I never wanted to play, but it's that itch to just get back out there and do something.

CH: Oftentimes, when a star player is absent an extended period, people tend to forget about them. And then there are other emerging stars who are anointed. Is there an eagerness to get back out there and remind those that youre still one of the best point guards in the league?

DL: I don't even take that much of it into consideration. I think theres always going to be a recency bias. This league is always about what have you done for me lately? There are guys that are going to have big games in big stretches and people are going to act like its the best thing in the world. I might have been somebody who benefited from that in the past. That's just a part of the game. But I'm not looking at it like, Theyre going remember me. I just made the 75th Anniversary Team. That's all the validation that I would need. My resume and who I am speaks for itself. I know that the best days for me have yet to come. So, I'm not looking at it like I got to come back and make them remember me. I know who I am. I know what I do. And when I get back on the floor, you know, that's gonna be that. I don't think it has to be some big message that I'm coming back to send. Were in the NBA, great players come along and people find themselves getting the credit they deserve based on performance. But that really don't have anything to do with me because once I get on the court, I am who I am and I do what I do and people will respect my game when they see me on the court. Right now, I haven't been on the court. So it's out of sight, out of mind. I understand that's how fans and media feel.

CH: What stood out to me is you said your best is yet to come. Looking at your situation in Portland, do you feel like your best is yet to come personally, or collectively with the Trail Blazers?

DL: I think personally my best is yet to come 100 percent. Like I said, this is my first time being able to take a step back and just fully address my development. Over the course of my career, there have always been things that I've wanted to correct or get better at, but maybe I had a long season and went into the playoffs and then we had a quick turnaround. Whatever the case may be, I never had this much time to fully break down my game and really challenge myself development-wise. Working on things that I'm not comfortable with all the time, things that other guys at my position do really well. Ive had a window of time and opportunity to add to my game and to watch film with my coaches and trainers to really address those things that a lot of times might be uncomfortable. Since I had my surgery in January, Ill have around 10 months before the start of next season. So me having that amount of time to look in the mirror to address these things and get my body right, we'll get the most out of it and I'll be the best version of myself individually. And I also think we've taken some steps back as an organization, obviously with the moves that we've made [at the trade deadline]. But we've also positioned ourselves to do something that we haven't been able to do since I've been here, which is weve opened up money, we got picks, we got a $22 million trade exception, we got a $6 million trade exception, we got the full mid-level, we got the biannual. We have an opportunity, and we got flexibility. There are guys we can bring in that can make us a team that can compete for a championship, but we have to execute that.

Jusuf Nurkic, left, and Damian Lillard talk on the bench during a recent Portland Trail Blazers game. (Abbie Parr/Getty Images)

CH: Are you confident that this iteration of what many would deem a rebuild will not extend into next season?

DL: I don't see any way that, where we are right now is even possible to be in this place next season. I just don't see that happening. Theres no way.

CH: A championship in Portland is still your desire?

DL: That's the only thing I care about, honestly. It seems like after I announced that I was having surgery, people were like, Oh, he's 31 and having this done. Man, 31 is not old. They act like youre old when we have guys around the league older than me that are still playing at a high level. Also, my game is not based on me playing above the rim. I'm a sniper. I shoot. I got a good step. I can think the game. I can manipulate the game, and I know how to play. My game will age well, and I don't have a history of injuries. And the one that I just had is not a bad injury to have. I'm going to come back and be fine. Like I said, my best is yet to come. And the only things that I play for at this point is I want to be the MVP of the league and I want to win the championship. And once I do those things, I feel great about the investment that I made to this game over my whole life. If I accomplish those two things, I'm walking away feeling like I literally got the most out of myself as an athlete.

CH: How critical is the offseason for the franchise?

DL: Most definitely. I don't think were in a situation where it's like, we have to win the championship next year, or its a failure, but we just need to position ourselves to compete for the championship and also to where we can continue to build in that direction. I think this is definitely critical, [a] critical summer where we have to capitalize.

CH: What did you learn about yourself as a man, not a player, during this time away from the game?

DL: I think its documented how much of a family person I am, but I think when this is what you do when youre traveling and you hoop and you get immune to spending that time away from your family. But having the time to sit still and waking up every day and seeing my kids in the morning before I leave. Just going to rehab and getting on the court and being able to go on dinner dates with my wife. Attending a Raiders game with my wife, going to the Super Bowl. I went to Cabo with all my kids and my wife and stayed on the resort for a week. I've been able to just be a family man. Ive been able to go out to dinner with my mom and go to dinner with my sister and go to high school basketball games. Ive been able to realize just how much I've missed. Those precious moments with my wife. Ive been able to date her. You get so used to being just partners. When I would I come home off the road, she would be like, Let's go watch a movie. Let's get dinner to kind of catch [up]. But this is my wife. So weve been doing random things together and its been fun. My family is the No. 1 thing to me. That fills me up, and I have better days going to rehab. And then I come back home before my kids go to sleep. My son is laying in the bed with me and my wife. Were watching TV, hes on his iPad. I wake up the next day and I feel better. So, I realized this is really good for me. This makes me happy. This makes me feel stronger. Im more full. My wife and kids contributed a lot to how strong I did in rehab. I would attack rehab happy. I just had a positive attitude. I used this time to connect with my family, and it has been one of the best experiences.

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Damian Lillard talks injury rehab, trying to win title with Blazers: 'The best days for me have yet to come' - Yahoo Sports

XPeng (XPEV)s Vice Chairman Brian Gu says the Chinese electric vehicle (EV) maker has the wherewithal to navigate issues like shutdowns and component shortages due to the companys reliance on numerous suppliers and its ability to stay nimble in light of the challenges.

We have to find multiple sources of suppliers in case one gets impacted by the shutdown, and also to find alternative suppliers for the same component, he told Yahoo Finance Live. So we have spent a lot of money on testing to make sure that we have backup suppliers that we can use We just have to be very nimble and also make sure that our operation flexibility we're building into our business plan.

The company reported a mixed fourth quarter yesterday. Revenue for the quarter climbed to $1.34 billion, up nearly 200% from a year ago and nearly 50% from the third quarter. XPeng reported a EPS loss of $0.22 cents on an adjusted basis, or $202 million in the quarter, a narrower loss than Wall Street expected.

Looking ahead, the company sees deliveries for the first quarter of 33,500 to 34,000, representing year-over-year growth of over 150%.

While the company grew last quarter, Gu said the quarter could have been even better.

I think the chip shortage issue continued to impact the industry, and we are feeling that impact as well. I think our results, although growing triple-digits, still is constrained somewhat by these chip supply shortages, Gu said. We think the outlook for [the] chip bottleneck will probably alleviate in the next one to three quarters, hopefully by the end of the year or early next year, we see a normalization of that situation.

XPeng saw vehicle sales rise in the fourth quarter, even forecasting rising sales in the Q1, despite challenges also coming from rising component costs, which has meant rising prices for consumers.

SHANGHAI, CHINA - DECEMBER 10: A Xpeng P7 car is on display at a Xpeng experience store on December 10, 2021 in Shanghai, China. (Photo by Wang Gang/VCG via Getty Images)

Just a few weeks ago, we increased prices by around 5% to 8% to really make up for the cost increases that we're seeing in battery and in chips to make sure that we cover our costs adequately, he said. I think in the long run, I think this material cost increase will continue to pressure the industry and price increases we're seeing across the industry in China right now.

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With a record order book and strong demand, Gu said the Q1 forecast could have been even stronger, if not for ongoing COVID-19 shutdowns like those in two of China's largest cities Shenzhen and Shanghai.

We could have done probably a few thousand more in terms of deliveries this month if there's no shutdown in those cities, Gu said.

ADR shares of XPeng listed on the NYSE traded little changed on Monday.

Pras Subramanian is the senior autos reporter for Yahoo Finance. You can follow him on Twitter and on Instagram.

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COVID shutdowns & supply chains: 'We just have to be very nimble,' XPeng exec says - Yahoo Finance

DETROIT It seemed fitting, DeMar DeRozan exuding an air of confidence the morning of the Chicago Bulls season opener in October but also knowing what was to come over an 82-game season.

I think well be really good, he told Yahoo Sports. But I wanna see how we react when we hit a little adversity.

Adversity has knocked the Bulls upside the head recently, with injuries being a main but not singular culprit to erase a lot of the good vibes that started the season.

The Milwaukee Bucks were the latest team to show the Bulls theres a clear line between them and the NBAs elite, and time is beginning to run out to fix it. Although theyre winless against Phoenix, Golden State and Memphis, its not practical to evaluate them against opposite conference competition.

Focusing on Milwaukee, Miami and Philadelphia is enough to have Billy Donovan, DeRozan and Zach LaVine running for the Tylenol on the dresser. Every morning they wake up with a ringing in their ears.

O-for, the alarm clock seems to say, and the hangover is ongoing because the play-in tournament is looming.

The Bulls being 42-30 is still a surprise on its face, but the expectations were raised when they sprinted out to a hot start. Going 39-21 with a six-game winning streak sandwiched around the All-Star break had many feeling they could be Eastern Conference party crashers.

DeMar DeRozan has played some of the best basketball of his career in a Chicago Bulls uniform, but his team is still winless against the NBA's top teams. (Lachlan Cunningham/Getty Images)

They followed a Phoenix-ish formula that sounds simple enough but reveals incredible discipline: making their free throws, not turning the ball over and forcing the opposition into open-floor mistakes.

In short, they maximized their possessions, especially with shot-makers like DeRozan and LaVine, while managing to throw some mascara on their lack of size inside. Teams werent truly able to exploit the Bulls on the interior because their perimeter defense, led by Lonzo Ball and Alex Caruso, was so potent.

Then Ball went down, followed by Caruso suffering an unnecessary wrist injury due to the recklessness of Grayson Allen. A huge chunk of their newfound identity left the building, and even Carusos return has been dulled a bit by the reality of the schedule hitting them hard mixed with coming down to Earth a bit.

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Ball underwent meniscus knee surgery and hasnt been in action since January. He was on track to return, but his rehab hit a snag this week as the Bulls announced theyll slow down the process and hell stop running for 10 days.

It's not a positive sign if a full roster was the easy solution to the Bulls struggles.

Were only going up from here. Were getting some key guys back, DeRozan recently told Yahoo Sports. Thats gonna be a boost of emotional energy, knowledge, experience that well need at a critical time of the season. With that alone, itll make us much better, much more confident than anything.

Three of their four best four-man units involve Ball, with his defensive prowess, outside shooting and tempo-pushing catching teams off guard when trying to exploit switches. But theyve been able to employ them in only a handful of games, and even if he were to make a return before the playoffs, it doesnt seem that muscle memory would carry over.

DeRozans muscle memory was on automatic even while things were crashing around him in February, producing his best month as a pro: 34.2 points, 6.2 rebounds, 5.2 assists on splits of 55/40/88, outstanding production for a player this advanced in his career.

It seemed to keep the Bulls afloat, similar to early in the season when his late-game heroics had many allowing themselves to dream of June. If DeRozan was pushing you over the top, the Bulls would be dangerous. But its been trending toward the necessary space for quite a while now, especially with LaVine battling knee issues.

Chicago Bulls guard Zach LaVine is battling knee issues late in the season. (AP Photo/Rick Scuteri)

LaVine wont say it because hes too proud and too close to playing relevant, but his left knee is bothering him. He and the Bulls are being careful with it, of course, to preserve his long-term health with free agency coming in July and maximize whats in the immediate future simultaneously.

When Yahoo Sports asked if he was 80 percent a couple weeks ago, LaVine chuckled and said, I dont know but its not 100 percent. Im still able to go out there and be effective. After a relatively down January and February, LaVine has rebounded in March, his scoring and assist numbers up while his efficiency still remains on par.

This is the closest he has been to contention so sitting isnt an option, nor will the losing get to him, because, hes seen far worse.

Right before the All-Star Game, we won [a lot] in a row, and now, we dont need to act like the world is on fire, LaVine told Yahoo Sports. You understand whats going on, why youve lost games and make adjustments.

He sees the struggle as a positive, with players who wouldnt otherwise get an extended opportunity have a chance to show they can adapt in pressure situations. LaVine said recently acquired veteran Tristan Thompson has been a vocal presence in the huddle, and the return of second-year forward Patrick Williams has been a boon.

But did the early-season success, last-second wins and over-reliance on DeRozan and LaVine come back to haunt them?

In the playoffs, having shot-makers can change the math when you can do only so much scouting. Not too many teams have multiple wing defenders to shut down both of the Bulls scorers.

We rely on ourselves to go out there and make plays and close out teams. I dont think its fools gold. Now is it something we can rely on each and every game to win games? No. But its an ace in your pocket because were able to do that. Were able to take on that challenge, LaVine told Yahoo Sports.

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Bulls are winless against NBA's top teams, but could still be dangerous in playoffs - Yahoo Sports

March Madness is coming to an end. In fact, the Final Four will be played in April. However, we're still without a national champion. We are down to just four teams. One of Duke, Villanova, Kansas or North Carolina will capture the title, so let's take a look at how these teams got here from a betting perspective.

Right after Baylor won the championship game in April 2021, betting odds for the 2022 national championship were posted. Where did these teams find themselves?

Villanova (12-to-1)

Duke (14-to-1)

Kansas (16-to-1)

North Carolina (30-to-1)

Gonzaga opened as the favorite to win it all, but it bowed out earlier in the tournament. None of these teams were huge long shots when the odds got released. Villanova was tied for the third-best odds, and Kansas and Duke were not far behind. North Carolina was a bit further down, but it opened with the same odds as Michigan State and Virginia, two programs with a lot of recent success.

Once the season got underway, the odds began to fluctuate a bit. Let's take a look at where these teams stood on New Year's Day and on March 1, days usually associated with the start of conference play and the start of the postseason drama.

Villanova (22-to-1 on Jan. 1, 20-to-1 on March 1)

Kansas (11-to-1 on Jan. 1, 14-to-1 on March 1)

Duke (+800 on Jan. 1, 12-to-1 on March 1)

North Carolina (66-to-1 on Jan. 1, 125-to-1 on March 1)

The main team that sticks out here is North Carolina. The Tarheels were certainly inconsistent over the course of the season and many viewed the ACC as one of the lesser major conferences this season. Once late February and early March rolled around, many had UNC on the tournament bubble and didn't even know if the Tar Heels would get the opportunity to make this run.

North Carolina was 125-to-1 to win it all at the start of March Madness. (Photo by Scott Taetsch/NCAA Photos via Getty Images)

Villanova, Duke and Kansas all stayed relatively consistent over the course of the season. Kansas finished tied atop the Big 12, Villanova finished 2nd in the Big East and won the conference tournament, while Duke was clearly the best team in the ACC during the regular season.

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Once Selection Sunday came and went, the field of 64 was set. How have these teams' odds moved over the course of the tournament?

These were the championship odds prior to the first game of the tournament:

Once these teams got their first wins under their belts, how did the odds react?

Kansas (+800)

Duke (10-to-1)

Villanova (18-to-1)

North Carolina (80-to-1)

After surviving the first weekend of the tournament, the odds looked like this:

Kansas (+450)

Duke (11-to-1)

Villanova (14-to-1)

North Carolina (30-to-1)

What did the betting odds look like before the Elite Eight?

Kansas (+275)

Duke (+400)

Villanova (+600)

North Carolina (+600)

With the Final Four now set, these are the current betting odds at BetMGM:

Duke (+160)

Kansas (+180)

Villanova (+475)

North Carolina (+500)

While wins and losses are cool, bettors love to know which teams cover the spread at a high rate. Below is the overall cover rate of the four teams remaining in the tournament:

If you're more of a totals bettor, below are the over-under record for teams over the course of the season. Which teams' games are going over at the highest rate?

What have you done for me lately? How are these teams performing against the betting number in the tournament?

North Carolina (4-0, +63 margin of cover)

Villanova (4-0, +21 margin of cover)

Duke (3-1, +13 margin of cover)

Kansas (2-2, +18 margin of cover)

North Carolina and Villanova are 4-0 against the spread in the tournament. Duke is 3-1, with its one loss against the spread coming in its first round game on a relatively bad beat. Kansas is 2-2, failing to cover in wins over Creighton and Providence.

Let's take a look at how these teams are performing against the number from a totals perspective:

Duke is very close to a 3-1 over record, but bettors suffered a bad beat on Saturday night. North Carolina started with two games that flew over the total, but its last two games have gone well under. Villanova's last three games have gone under the total.

In the Final Four, Kansas is a 4.5-point favorite over Villanova. In the other matchup, Duke is a 4.5-point favorite over North Carolina in the first tournament meeting between the ACC rivals.

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March Madness betting: North Carolina was 125-to-1 to win the tournament at the start - Yahoo Sports

Should oil prices explode to $200 a barrel as some experts have warned, Goldman Sachs thinks the U.S. economy would probably enter a recession (or already be in one).

"We estimate that it would take a sustained oil price increase to $200 per barrel to produce an income shock similar in magnitude to those that precipitated the 1974 and 1979 recessions and this would significantly increase the 2022 recession odds," Goldman Sachs chief economist Jan Hatzius said in a new note on Thursday.

Oil prices have come off their highs of around $140 a barrel seen at the start of the Russia-Ukraine war, but remain uncomfortably high. Brent crude oil hovered at $122 a barrel Thursday amid concerns on a new spate of sanctions on Russia by the West.

Prices for Brent crude oil have more than doubled compared to this time last year.

"It is not unfathomable for prices to rocket to $200 a barrel by summer, spur a recession and end the year closer to $50 a barrel ($200 call options have been bid). To be clear, this is not our base case, but such a scenario does not sound implausible today," said RBC Capital Markets analyst Michael Tran on Yahoo Finance Live.

Meanwhile, the national average price for gasoline is up 71.5 cents from a month ago and $1.37 per gallon higher than a year ago, according to GasBuddy. In turn, that has sent consumer confidence plunging and concerns sweeping Wall Street of a consumer spending pullback (which could lead the economy into a recession).

While Hatzius is worried about a recession, he isn't yet ready to predict one for this year despite elevated energy and food costs. Hatzius is modeling for 1.9% GDP growth in 2022.

"The commodity shocks in the early stages of the 1974, 1980, 1990, and 2008 recessions fully offset the year-on-year trend in real incomes implying no scope to increase real consumption without drawing down savings. This is not the case in 2022 thanks to strong payroll and wage growth, nor was it the case during the commodity upswings and continued expansions of 1999, 2005, and 2010. Additionally, the $2 trillion-plus of excess savings accumulated during the pandemic and the record-high household wealth-to-income ratio represent additional buffers for consumer spending growth this year," explains Hatzius.

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Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

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Oil prices surging to $200 a barrel could send the economy into recession: Goldman Sachs - Yahoo Finance

Free agent quarterback Cam Newton hasn't signed with a team yet, but it's not for lack of offers. He's choosing not to sign anywhere yet so he can make a fully informed decision about his future.

"I have teams that are interested in signing me," Newton told ESPN's Adam Schefter in a text. "I am waiting on the best fit as it pertains to winning a championship and getting a fair chance to play."

Newton gave no hints about which teams were interested in him, but one of them is likely the Carolina Panthers, the team that drafted Newton No. 1 overall back in 2011. He spent nine seasons playing for the Panthers a stint that included an MVP award and a trip to the Super Bowl before they released him.

Following a season with the New England Patriots, Newton returned to the Panthers partway through the 2021 season after starting quarterback Sam Darnold got injured. Newton's homecoming didn't go all that well, as the Panthers lost all five games he started, but he made such a positive impact on the team that general manager Scott Fitterer said last week that they want Cam back if he wants to come back.

"It's not just us saying, 'Hey, Cam, come on back,'" Fitterer said via ESPN. "He's got to want to come back. He's got to like the role, the situation. It's really just a fit for both of us.

"The door is open. I'd love to have someone with his leadership, his toughness. He brought so much to his team last year and stabilized us during a really hard time. He's a really special person."

Fitterer didn't say that Newton would be the backup QB, but with Darnold likely healthy going into the season, that's the role Newton would likely be filling. It's not clear if that's something Newton would accept, though he's probably more likely to accept a backup role on a contending team than on a rebuilding team that can't seem to keep its head above water.

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Quarterback Cam Newton has at least the Panthers interested in signing him, but he's not ready to commit quite yet. (Photo by Grant Halverson/Getty Images)

Newton is predictably staying busy during the offseason, and this year he's found a way to take his love of youth football to the next level.

Overtime, the company that launched a high school and collegiate level youth basketball league last year, is expanding. They're launching a 7x7 high school football league, and Newton is an investor. Newton has coached 7x7 youth football teams for years, and even considered launching his own league before Overtime came along.

Via CNBC:

Newton told CNBC he contemplated launching a youth football league but we felt with the muscle that Overtime possesses, where this society is going with social media platforms, and giving these kids the exposure that they most direly want and need, I think it made the most sense.

OT7, which is what the league will be called, will help players develop their passing and route running skills. According to CNBC, the games will last 20 minutes and feature limited tackling with no pads. There could be up to 24 teams playing eight games each, not including a championship round, and between 500 to 700 high school athletes could attend the league, which will run June 9-13 in Las Vegas.

Newton told CNBC he's excited to give these young players an opportunity to showcase their talent.

There has been this untapped market in seven-on-seven for years, Newton said. Weve seen kids receive scholarship offers because of their seven-in-seven film. He said OT7 would provide kids the exposure from the visual content that they need. Whether you have five stars or no stars, we want to give you that platform that highlights your skill set.

See the rest here:

QB Cam Newton weighing offers from 'interested' teams, looking for 'best fit' - Yahoo Sports

Men's college basketball is down its final three games, but the NBA has plenty of action lined up to carry us through the spring.

With two full weeks of the regular season remaining, each night will bring more clarity to the playoff picture. Most teams are motivated to make their final push, which has me confident that we will see the best version of each conference's contenders down the stretch.

Tonight's nine-game slate gets started at 7 p.m. ET and wraps up with a snoozer between Oklahoma City and Portland at 10 p.m. ET. Let's avoid that game completely and get our money down on the early action. Here is my best side, total and prop for tonight's NBA action.

Both teams enter the game with plenty of motivation. Denver, currently sixth in the Western Conference, is only two games out from hosting a first-round series. On the flip side, they are only 1.5 games up on Minnesota and in danger of sliding back into the play-in tournament. Charlotte's latest 7-1 run now has them tied with Brooklyn for the eighth seed in the East.

Despite the Hornets' recent success, they haven't exceeded market expectations at home. In their last 10 games, they are a pedestrian 5-5 ATS while Denver has been a dominant 8-2 to the number on the road. Charlotte's offense has fueled its run with the fourth-best offensive rating, and all signs point to tonight's game coming down to which team executes best on that end of the floor. That's where I think Denver has the advantage.

They are catching Charlotte traveling home on a back-to-back, coming off a huge win at Brooklyn last night. Denver and Nikola Jokic are a tough matchup for a Charlotte defense that has been exploited in the frontcourt all season. Only Portland and Houston allow more points to centers, and Nikola Jokic won't mind piling on the stats in his quest for a second consecutive MVP. Denver's offense will get it done while Charlotte faces an inevitable letdown.

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There are only two teams that cashed more unders for bettors this season than the Golden State Warriors. Steve Kerr is still trying to figure out life without Steph Curry while Draymond Green is slowly getting back to form. The Warriors have averaged 108 points per game over the last five games, and that's against some of the league's worst defenses. Tonight, they face a stiff step up in competition when they travel to Memphis.

The Grizzlies have held opponents to 109 points per 100 possessions in March, tied with Boston for second-best in the NBA. In the last four games without Morant, that number dips down to under 104. They are 4-0 in those games with an average margin of victory of 22 points, including wins over the Nets and Bucks. I expect a big defensive effort from both teams, but especially Memphis considering they can create five games of separation in the standings with a win. Tyus Jones and the Grizzlies guards have been pushing the pace without Morant, but I am betting it slows down as the Warriors are desperate to stop their slide.

Atlanta is fighting for their playoff lives as it currently sits as the 10th seed in the final spot to qualify for the play-in tournament. It's no secret at this point that they need Young to score to stay competitive. The Hawks' 26th-ranked defense is the main reason they fell so far from last season's playoff run. Young is coming off a 33-point performance against Golden State just three days after lighting up the Knicks for 45. Indiana is 23rd in points allowed to point guards and has thrown in the towel on the defensive end this month, letting up the 28th-most points per possession. Young should get little resistance as he trades buckets trying to carry Atlanta to a win in this one. Young cooked the Indiana defense for 47 points just two weeks ago, so I didn't waste any time in betting that he reaches 30 tonight.

Stats provided by nba.com, evanalytics, and teamrankings.com

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NBA betting: Why we like Nikola Jokic, Nuggets to cover on the road Monday - Yahoo Sports

The Buffalo Bills set a record, and it greatly benefits the team's owners.

The Bills will have the most public money set toward the construction of a new stadium. According to the Buffalo News, the Bills will get a new $1.4 billion stadium.

The stadium itself is the first big part of the story. The second one is that the state of New York and Erie County is contributing $850 million to the construction costs. The most an NFL team has been given in public tax money for a new stadium was the Las Vegas Raiders, who got $750 million in tax money to help build Allegiant Stadium, a big factor in the Raiders moving from Oakland.

The Bills aren't going anywhere for a long time. A new stadium ensures that.

The announcement about the new stadium came as the NFL is having its owners meetings in Florida. The Bills, who have been trying to get a new stadium to replace the one in Orchard Park, put out a statement.

The agreement has a 30-year lease that Gov. Kathy Hochul told the Buffalo News was ironclad. Erie County legislators could take up to 30 days to approve the deal, the Buffalo News said.

The staggering amount of public money going to the project is far less than anyone had anticipated, Hochul told the Buffalo News. The Buffalo News said there had been speculation taxpayers might need to give $1 billion to the project. The state of New York will give $600 million and Erie County will give $250 million to the project for Bills owners Terry and Kim Pegula. The NFL is also giving the Pegulas a $200 million loan. The Buffalo News said the Pegulas will put $350 million toward the stadium, but a portion of that will come from 50,000 personal seat licenses to all season-ticket holders that will cost $1,000 each.

Fox Business speculated in 2020 that the Pegulas' net worth was $5.1 billion.

The stadium, expected to be finished by 2026, will be across Abbott Road from the current Highmark Stadium the Bills call home, the Buffalo News said. It will be an open-air stadium.

The Bills won't be going anywhere for a while. Taxpayers are the main reason for that.

Highmark Stadium in Buffalo will be replaced by 2026. (AP Photo/Frank Franklin II, File)

Continue reading here:

Bills reach deal for new stadium, with a record amount of taxpayer money funding it - Yahoo Sports

Ross Chastain delivered a finish to remember at Circuit of the Americas with his bump of AJ Allmendinger.

Chastain scored the first win of his career on Sunday after he pushed Allmendinger into Alex Bowman on the final lap. Allmendinger had bumped Chastain out of the way for the lead seconds earlier, so Chastain got his revenge and took out his other challenger for the win in the process as Bowman had snuck into the picture when Chastain and Allmendinger were tussling.

It was an ending to the race that NASCAR could only dream of and one of the most climactic road course race finishes in the last decade. Itll be replayed for years. But its greatness shouldnt overshadow how Sundays race was a glaring example of NASCARs need to overhaul the way that road course races are run.

Road course races are now a significant part of NASCAR. There are six of them among the 36 points races on the Cup Series schedule for the second straight season and NASCARs new Cup Series car was designed to be better handling on tracks with left and right turns than its bulkier predecessor.

The adjective bulky can also be used to describe Sundays race. The race which went a lap longer than scheduled took 3 hours and 20 minutes to get to the tussle between Chastain and Allmendinger thanks to the inefficient way that NASCAR officiates road course races. The average green-flag run during Sundays 69-lap race was just 5.6 laps despite green-flag runs of 16 and 14 laps among the first 31 laps.

Unlike IndyCar and Formula 1, NASCAR only implements full-course cautions at road courses when debris or stalled cars need to be retrieved from the track. Earlier in the day on Sunday, Formula 1 implemented a virtual safety car to move two stalled cars from the entrance to pit road. Those cars were only blocking a small part of the 3+ mile Jeddah Street Circuit and didnt require a lot of cleanup. There was no need for the race to be halted entirely and the field bunched up.

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Ross Chastain bumped AJ Allmendinger out of the way for his first NASCAR Cup Series win on Sunday. (Photo by Logan Riely/Getty Images)

At the 3.4-mile COTA, six of the nine full-course cautions throughout the NASCAR race were because of fluid or debris in a small part of the track or a stopped car. If NASCAR had local yellows or other safety measures like the two open-wheel series, the races could have kept going while the track was cleared. Instead, the minor incidents and cleanups required the race to be slowed for at least a lap to inordinately extend the races runtime and give viewers a chance to change the channel to the Elite Eight games on CBS.

Another two of the unnecessary full-course cautions were for pre-planned stage breaks. NASCARs stage racing format isnt going anywhere, so asking for the abolishment of stages is a fruitless endeavor. But getting rid of the pre-planned cautions that come with the conclusions of Stage 1 and Stage 2 at road courses would help keep viewers engaged and also increase the quality of racing.

Keeping stages but ditching the cautions that come with them would re-introduce a strategy aspect thats sorely been missing from road course racing over the last five seasons. Part of the appeal of NASCAR road course racing is the myriad ways that teams manage their tires and fuel to get to the end of the race. With two known caution flags, the strategy options for teams are limited and much more vanilla.

The cautions also unnecessarily extend the length of races. At 68 laps and an approximate time of 2 minutes and 15 seconds a lap, Sundays race at COTA was going to take at least 2.5 hours without any caution flags to interrupt the proceedings. Throw in the nine caution flags and the extra lap for overtime and the Cup Series race took 10 minutes longer than the combined run time of the last two 56-lap Formula 1 races at Circuit of the Americas.

And lets be blunt; F1 is quickly emerging as NASCARs major U.S. motorsports competitor among adults in the 18-49 demographic. A week ago, the season-opening F1 race drew 1.35 million viewers in the United States while the NASCAR race at Atlanta had significantly more viewers at 4 million. But NASCARs advantage was made up nearly entirely of adults over 50. Over 650,000 people between the ages of 18-49 watched the F1 race while approximately 715,000 adults in that same demographic watched the Cup race.

F1s appeal among younger viewers in the United States can be attributed to a lot of factors. And its efficient races and race lengths is likely one of them. Watching F1 is a two-hour maximum commitment most weekends. NASCAR requires a lot more of a viewers time to watch the whole story unfold. All of the first six races of the season have taken over three hours to complete.

That extended runtime is why NASCAR should be doing all it can to not give viewers an opportunity to change the channel during those extended TV windows. Yeah, the payoff for sticking with Sundays race at COTA was worth it for everyone who watched from start to finish. But that doesnt mean the grueling staccato journey to get there shouldnt be re-evaluated.

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COTA delivered a great finish and also showed why NASCAR's road course officiating needs an overhaul - Yahoo Sports