Month: August 2024
Europe markets close higher with Fed in focus; UK net borrowing higher than expected
LONDON — European stock markets closed higher Wednesday, rebounding after snapping a long winning streak on Tuesday. The pan-European Stoxx 600 index provisionally closed 0.32% higher on Wednesday as nearly all sectors traded positive. Autos climbed 1.45% and mining stocks added 1.02%, while telecoms dipped 0.24%. The regional benchmark closed in the red on Tuesday, snapping a strong […]
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Nonfarm payroll growth revised down by 818,000, Labor Department says
The U.S. economy created 818,000 fewer jobs than originally reported in the 12-month period through March 2024, the Labor Department reported Wednesday. As part of its preliminary annual benchmark revisions to the nonfarm payroll numbers, the Bureau of Labor Statistics said the actual job growth was nearly 30% less than the initially reported 2.9 million […]
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TJX Companies raises full-year guidance, posts 5.6% sales gain for the most recent quarter
TJX Companies raised its full-year guidance on Wednesday after posting another quarter of strong sales, but its outlook still fell just short of Wall Street’s expectations. The discounter behind Marshalls, HomeGoods and TJ Maxx is now expecting full-year earnings to be between $4.09 and $4.13, compared with estimates of $4.14, according to LSEG. For the […]
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The explosion of online sports betting is taking a toll on how people invest
Algerina Perna | Baltimore Sun | MCT | Getty Images The explosion of online sports betting is taking a toll on personal finances, particularly among those who are financially distressed. That’s the conclusion of a recent paper, “Gambling Away Stability: Sports Betting’s Impact on Vulnerable Households.” The authors found that sports betting has exploded since […]
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As strength training gets more popular, Peloton and Planet Fitness shift focus
Shauntil Cox lifts weights with the help of her trainer, Deano Troost, at a Planet Fitness in New Caney, Texas, on Sept. 19, 2023. Jason Fochtman | Houston Chronicle | Hearst Newspapers | Getty Images A growing share of gym users is looking to build muscle, leading major fitness companies to refocus their efforts beyond […]
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Target CEO addresses ‘price gouging’ accusations in retail
There’s no room for price gouging in a ultra-competitive business like retail, Target CEO Brian Cornell said on Wednesday. In an interview on CNBC’s “Squawk Box,” the retail chief disputed campaign talking points accusing grocers of inflating prices. He said retailers have to be responsive to customers or risk losing business. He was asked by […]
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Why the latest mpox outbreak is raising alarm among health experts
Colorized transmission electron micrograph of mpox virus particles (red) found within an infected cell (blue), cultured in the laboratory. Bsip | Universal Images Group | Getty Images An escalating mpox outbreak is causing alarm among some health experts, who warn that the latest strain of the virus could be more fast-spreading and deadly than an […]
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Ford delays new EV plant, cancels electric three-row SUV
Ford Mustang Mach-E and F-150 Lightning on display at the New York International Auto Show on March 28, 2024. Danielle DeVries | CNBC DETROIT – Ford Motor is delaying production of a new plant in Tennessee to produce a next-generation all-electric pickup truck and canceling plans for a three-row electric SUV, the company said Wednesday. Instead, […]
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Startup using blockchain to prevent copyright theft by AI is valued over $2 billion after fresh funding
Generative AI models require huge amounts of training data to enable their systems to produce advanced outputs. But the data that goes into them is often from sources where copyright restrictions are in place. Cfoto | Future Publishing | Getty Images San-Francisco-based startup Story said Wednesday that it raised $80 million of funding for a […]
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Taylor Swift London Eras Tour unlikely to move the needle on the Bank of England’s rate policy, analyst says
Taylor Swift performs onstage during “Taylor Swift | The Eras Tour” at Wembley Stadium on August 15, 2024 in London, England. Gareth Cattermole/tas24 | Getty Images Entertainment | Getty Images LONDON — Taylor Swift’s record-breaking Eras Tour may have led to a surge in restaurant and hotel bookings in the U.K. — but it’s unlikely […]
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