Month: August 2024
Stocks making the biggest moves premarket: Super Micro, Abercrombie & Fitch, Box, Foot Locker and more
Check out the companies making headlines before the bell. Abercrombie & Fitch — Shares of the retailer, which owns the Abercrombie and Hollister banners, fell more than 9% after it reported a 21% increase in its revenue during its fiscal second quarter and issued bullish guidance for the current period. Abercrombie posted earnings of $2.50 […]
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Disney, Reliance overcome cricket concerns to win approval for $8.5 bln India merger
Walt Disney Co and Reliance Industries have won approval for an $8.5 billion merger of their Indian media assets subject to some modifications, India’s antitrust watchdog said on Wednesday, after the deal sparked concerns over control of cricket broadcasts. Reliance-Disney aims to create India’s biggest entertainment player to compete with Sony, Netflix and Amazon with […]
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Elon Musk’s xAI accused of worsening Memphis smog with unauthorized gas turbines at data center
Elon Musk announced his new company xAI which he says has the goal to understand the true nature of the universe. Jaap Arriens | Nurphoto | Getty Images Elon Musk’s artificial intelligence startup, xAI, is being accused by environmental and health advocates of adding to the pollution problem in Memphis, Tennessee, by using natural gas […]
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Libya’s power divisions could once more fracture its oil output – as markets question for how long
Crude oil leaks from an oil pumping jack in an oil field in Russia. Bloomberg Creative | Bloomberg Creative Photos | Getty Images A political standoff in Libya risks once more paralyzing the north African country’s lucrative oil sector — but the frequency of its power tussles and crude disruptions have called long-term oil price […]
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Abercrombie & Fitch posts 21% sales gain, hikes outlook despite ‘increasingly uncertain environment’
An Abercrombie & Fitch store in New York, US, on Monday, Nov. 20, 2023. Abercrombie & Fitch Co. is scheduled to release earnings figures on November 21. Stephanie Keith | Bloomberg | Getty Images Abercrombie & Fitch‘s revenue grew 21% during its fiscal second quarter as the apparel company builds on its torrid growth. The […]
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UK’s Starmer, Germany’s Scholz seek to strengthen ties in post-Brexit reset
Keir Starmer, UK prime minister, left, and Olaf Scholz, Germany’s chancellor, ahead of their meeting at the Chancellery in Berlin, Germany, on Wednesday, Aug. 28, 2024. Krisztian Bocsi | Bloomberg | Getty Images U.K. Prime Minister Keir Starmer and German Chancellor Olaf Scholz met in Berlin on Wednesday with a view to deepen ties amid […]
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Foot Locker posts comparable sales growth for the first time in six quarters
Foot Locker on Wednesday said comparable sales grew for the first time in six quarters as its efforts to refresh its stores and improve the customer experience continue to bear fruit. The beleaguered sneaker company’s same-store sales grew 2.6% during its fiscal second quarter, far better than the 0.7% uptick that analysts had expected, according […]
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Goldman issues warning on how quickly market confidence has recovered from an August stocks slump
Traders work on the floor of the New York Stock Exchange during morning trading on Aug. 23, 2024. Angela Weiss | AFP | Getty Images The speedy return of market confidence following a dramatic global sell-off in risky assets should be seen as a cause for concern, according to the head of asset allocation research […]
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U.S. government researchers visit a Korean mine as the race against China for critical minerals heats up
Workers in July 2019 expand a mine in Germany intended to increase supplies of tungsten and fluorspar. Picture Alliance | Picture Alliance | Getty Images BEIJING — U.S. government researchers recently visited a South Korean mine to assess progress towards boosting supply of a critical metal called tungsten from areas outside China, the mine operator […]
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China’s state media: Canada is ‘shooting itself in the foot’ with new EV tariffs
BEIJING, CHINA – DECEMBER 04: China and Canada flag is displayed in front of the Forbidden City on December 4, 2017 in Beijing, China. Lintao Zhang | Getty Images News | Getty Images China’s state media has criticized Canada over its decision to impose over 100% import tariffs on Chinese electric vehicles, using bolder language […]
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