Month: August 2022
MoffettNathanson downgrades Verizon to underperform as wireless landscape gets tougher
Increased competition among wireless providers is set to pressure Verizon shares, according to MoffettNathanson The firm slashed its rating on the company to underperform and lowered its price target to $41 from $55. The new target implies downside of more than 9% from where shares closed Wednesday. Part of the reason for the downgrade is […]
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Asset managers on alert after ‘WhatsApp’ crackdown on banks
Asset managers are tightening controls on personal communication tools such as WhatsApp as they join banks in trying to ensure employees play by the rules when they do business with clients remotely. Regulators had already begun to clamp down on the use of unauthorized messaging tools to discuss potentially market-moving matters, but the issue gathered […]
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Everyone over 12 expected to be eligible for new boosters, White House official says
White House Covid coordinator Dr. Ashish Jha said on Wednesday that the newly updated Covid boosters will be available to teens and adults “in a few short weeks.” “I believe it’s going to be available and every American over the age of 12 will be eligible for it,” Jha told NBC News’ Lester Holt. The new […]
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Stocks making the biggest moves premarket: Kohl’s, BJ’s Wholesale, Estee Lauder and more
Check out the companies making headlines before the bell: Kohl’s (KSS) – Kohl’s shares slid 7.2% in the premarket after the retailer cut its full-year forecast due to increased promotional activity and higher costs. Kohl’s most recent quarter beat Street forecasts for revenue and profit. BJ’s Wholesale (BJ) – The warehouse retailer beat estimates by […]
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Childhood polio vaccination rate is dangerously low in some New York communities, increasing the risk of an outbreak
Nurse Lydia Fulton prepares to administer the measles, mumps, and rubella (MMR) vaccine as well as a vaccine used to help prevent the diseases of diphtheria, pertussis, tetanus, and polio at Children’s Primary Care Clinic in Minneapolis, MN. Courtney Perry | The Washington Post | Getty Images The childhood polio vaccination rate is as low […]
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Ukraine authorities stage nuclear catastrophe exercise; Kyiv working to get inspectors into occupied power plant
Ukraine working to get IAEA mission into occupied nuclear power plant A serviceman with a Russian flag on his uniform stands guard near the Zaporizhzhia nuclear power plant outside the Russian-controlled city of Enerhodar in the Zaporizhzhia region, Ukraine, on Aug. 4, 2022. Alexander Ermochenko | Reuters Ukraine’s President Volodymyr Zelenskyy said Wednesday night that […]
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Web3 is in chaos and metaverses are in their own walled gardens, says Randi Zuckerberg
“We’re really just scratching the surface of what we’re going to see [in the metaverse],” said Randi Zuckerberg, the founder and CEO of Zuckerberg Media. Wildpixel | Istock | Getty Images A smooth and “complete decentralization” of Web3 is not yet a reality, said Randi Zuckerberg, referring to a system in which users rather than […]
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As gaming sales slump, China’s Tencent signals a hot ad trend it’s betting on
Tencent runs the ubiquitous Chinese messaging app WeChat. The company has a short form video feature with in the app and has began to monetize that through video ads in the feed. Tencent said such ads could become a “substantial” source of revenue in the future. Budrul Chukrut | Sopa Images | Lightrocket | Getty […]
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U.S., Taiwan to start formal trade talks under new initiative
This photo taken on August 11, 2022 shows Taiwanese flags on a street lane as tourists walk past in Taiwan’s Kinmen islands. The United States and Taiwan on Wednesday agreed to start trade talks under a new initiative, saying they wanted to reach agreements with “economically meaningful outcomes,” in another sign of stepped up U.S. […]
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Chinese property developers’ cash flows have plunged by more than 20%
Analysts generally expect state-owned enterprises will perform better than non-state-owned developers in the latest real estate slump. Pictured here in Guangxi, China, on Aug. 15, 2022, is a real estate complex developed by state-owned conglomerate Poly Group. Future Publishing | Future Publishing | Getty Images BEIJING — Chinese property developers’ cash flows — a sign […]
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