Breaking News: Economy
U.S. economy grew at a 2.8% pace in the third quarter, less than expected
Gross domestic product was expected to increase at a 3.1% annualized pace in the third quarter. Source
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U.S. election won’t be an ‘uneventful event’ for global markets, UBS chief says
Sergio Ermotti, chief executive officer of UBS Group Stefan Wermuth | Bloomberg | Getty Images The outcome of upcoming elections in the world’s leading economy is set to ripple into global markets no matter who clinches leadership of the White House, UBS head Sergio Ermotti told CNBC on Wednesday. “The outlook for the fourth quarter […]
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UK’s Labour to unveil hotly-awaited budget with billions in tax rises expected
UK minimum wage raised in boost for ‘working people’ Finance Minister Rachel Reeves said Tuesday that the U.K.’s minimum hourly wage for over 21-year-olds would rise by 6.7% to £12.21 ($15.87) from next April, in a signal of what could be further support measures for “working people” in Wednesday’s budget. For younger workers aged 18 […]
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Stocks making the biggest moves after hours: Alphabet, Visa, Chipotle, AMD and more
Check out the companies making headlines in after-hours trading. Chipotle Mexican Grill — The burrito chain reported mixed quarterly results , and shares dipped 3%. Chipotle reported adjusted earnings of 27 cents per share, exceeding expectations of 25 cents a share from analysts polled by LSEG. Revenue came out at $2.79 billion for the period, […]
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Larry Fink says the Fed won’t cut interest rates as much as markets expect this year
Andrew Ross Sorkin speaks with BlackRock CEO Larry Fink during the New York Times DealBook Summit in the Appel Room at the Jazz at Lincoln Center in New York City on Nov. 30, 2022. Michael M. Santiago | Getty Images The U.S. Federal Reserve won’t cut interest rates as much as markets expect because “embedded […]
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Stocks making the biggest moves premarket: Exxon, Spotify, Boeing, McDonald’s, TSMC and more
Check out the companies making headlines in premarket trading. Spotify — The music platform rose more than 2% after Wells Fargo named Spotify a top stock pick . Analyst Steven Cahall is particularly bullish on the company’s rising margins, strong product mix and evolving record label relationships. The bank currently has an outperform rating on […]
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Foreign investors flock to flagship Saudi economic conference — but face less free-flowing cash
A delegate arrives at the King Abdulaziz Conference Centre in Saudi Arabia’s capital Riyadh to attend the Future Investment Initiative (FII) forum. Fayez Nureldine | Afp | Getty Images Thousands of financiers, founders and investors are set to descend on the Saudi capital of Riyadh for the eighth edition of the kingdom’s Future Investment Initiative, […]
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Britain’s Labour government to deliver debut Budget this week, settling weeks of uncertainty
UK Finance Minister Rachel Reeves makes a speech during the Labour Party Conference that is held at the ACC Liverpool Convention Center in Liverpool, UK on September 23, 2024. Anadolu | Getty Images LONDON — U.K. Finance Minister Rachel Reeves will deliver the government’s hotly awaited debut budget on Wednesday, putting to bed weeks of […]
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‘Made in Mexico’ trade controversy is provoking another kind of border war
Mexico’s robust, and booming, trade with the United States has logistics companies clamoring for a slice of the pie and politicians taking a cautious look at how overseas firms may be using recent North American trade law to circumvent U.S. tariffs. Integrated logistics companies like Maersk are building out their capacity to handle the historic […]
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Russia’s central bank raises key rate to 21% to rein in inflation
09 June 2024, Russia, Moskau: A guardhouse of the Kremlin (l) and the Foreign Ministry (M, background) stand in the center of the capital. Photo: Ulf Mauder/dpa (Photo by Ulf Mauder/picture alliance via Getty Images) Picture Alliance | Picture Alliance | Getty Images Russia’s central bank on Friday raised its key interest rate by 200 […]
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