Month: August 2024
Stellantis laying off 2,450 plant workers due to discontinuation of Ram ‘Classic’ pickup truck
The 2019 Ram 1500 Rebel pickup truck is displayed at the North American International Auto Show in Detroit, January 15, 2018. Brendan McDermid | Reuters DETROIT – Automaker Stellantis plans to indefinitely lay off up to 2,450 U.S. factory workers later this year as it discontinues production of an older version of its Ram 1500 […]
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MLB will host its first game at a NASCAR track, aiming to break attendance record
General race action during the Irwin Tools Night Race at the Bristol Motor Speedway. David J. Griffin | Icon Sportswire | Getty Images Baseball fans, start your engines. Major League Baseball announced Friday that NASCAR’s iconic Bristol Motor Speedway will host a regular-season MLB game for the first time next year. The game is set […]
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Stocks making the biggest moves midday: Sweetgreen, Doximity, E.l.f. Beauty and more
Check out the companies making headlines in midday trading. Sweetgreen — Shares of the salad chain popped 24% after the company reported second-quarter revenue of $184.6 million, topping the $181 million consensus estimate, per LSEG. Sweetgreen also gave full-year revenue guidance of $670 million to $680 million. Analysts were expecting guidance of $674 million. Doximity […]
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Iran is targeting the U.S. election with fake news sites and cyber operations, research says
A man walks past an anti-U.S. mural on the wall of former U.S. Embassy in Tehran, Iran January 21, 2020. Nazanin Tabatabaee | Via Reuters Iran is stepping up its influence campaign aimed at the U.S., researchers at Microsoft said in a new report, adding to the ongoing efforts by Russia and China to sway American […]
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Markets no longer think the Fed needs to be as aggressive with interest rate cuts
In just a few short days, markets have taken some of the urgency off the table for the Federal Reserve to slash interest rates. Earlier in the week, there were even some calls for an emergency intermeeting rate cut. At the least, markets figured the Fed was a near-certainty to reduce benchmark rates by at […]
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Bull trap? It’s ‘make or break’ time for U.S. soft landing case, strategist says
The S&P 500 is facing a key test level as the consensus view of a soft landing for the U.S. economy reaches “make or break” point, according to one strategist. Ron Williams, chief investment officer at RW Advisory, told CNBC’s “Squawk Box Europe” the 5,200 mark will “decide whether this bounce back holds or whether […]
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The unemployment insurance program is unprepared for a recession, experts say
Key Points The U.S. unemployment rate has drifted upward over the past year, fueling recession concerns. The unemployment insurance program buckled during the Covid-19 pandemic under a deluge of claims. Experts say the system for unemployment benefits is ill-equipped to handle the next economic downturn. Source
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Maduro orders 10-day ban on Elon Musk’s X in Venezuela after feud with billionaire
Venezuela’s President Nicolas Maduro addresses the media during an event to sign an agreement to recognize the electoral results of the presidential elections of July 28, at the National Electoral Council, in Caracas, Venezuela, June 20, 2024. Miraflores Palace | Via Reuters Contested Venezuelan President Nicolas Maduro ordered a 10-day ban on social networking platform […]
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Ukraine unleashes large drone attack on Russian airfield as Kyiv’s offensive continues
Ukrainian drones struck a key military airfield in Russia’s Lipetsk region, forcing authorities to declare a state of emergency in another Russian region this week in the face of Kyiv’s ongoing cross-border offensive. Ukrainian forces targeted the airfield in Lipetsk — roughly 300 kilometers (186 miles) from the border with Ukraine — on Thursday night, […]
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10-year Treasury yield dips as traders weigh state of U.S. economy after latest data
U.S. Treasury yields were lower Friday as investors continued to assess the state of the U.S. economy after labor data buoyed sentiment. The yield on the 10-year Treasury was around 6 basis points lower at 3.938% at 8:57 a.m. ET, nonetheless holding near the level it was at last week before a weak U.S. jobs report helped trigger […]
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