business news
Wells Fargo downgrades Paramount to underweight, sees shares declining more than 30% from here
It’s time to sell Paramount as it struggles with both its cable and streaming businesses, according to Wells Fargo. Analyst Steven Cahall downgraded shares of Paramount to underweight from equal weight, saying that his view on cable and streaming TV has worsened in the past few weeks. Cahall previously downgraded Paramount to equal weight earlier […]
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World needs to accept the urgent need for fossil fuel investment now, BP CEO says
BP CEO Bernard Looney photographed in Texas on March 8, 2022. During a panel discussion on Oct. 31, 2022, Looney said his firm’s strategy was to “to invest in hydrocarbons today, because today’s energy system is a hydrocarbon system.” F. Carter Smith | Bloomberg | Getty Images BP’s strategy is centered around investing in hydrocarbons […]
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Supreme Court docket hears arguments complicated use of race in college admissions
Proponents for affirmative action in greater training rally in entrance of the U.S. Supreme Courtroom in advance of oral arguments in College students for Fair Admissions v. President and Fellows of Harvard Faculty and Students for Honest Admissions v. University of North Carolina on October 31, 2022 in Washington, DC. Chip Somodevilla | Getty Visuals […]
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Lula’s victory in Brazil sparks optimism on deforestation, with ramifications for the globe
Luiz Inacio Lula da Silva, Brazil’s previous president, middle, addresses supporters following successful the runoff presidential election in Sao Paulo, Brazil, on Sunday, Oct. 30, 2022. Bloomberg | Bloomberg | Getty Pictures The slender acquire by Luiz Inácio Lula da Silva in the Brazilian presidential election marks a essential turning stage on environmental concerns, analysts […]
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Self-driving truck startup TuSimple fires its CEO over improper ties to a Chinese firm
TuSimple, partly owned by UPS, makes self-driving trucks, a technology that may be among the innovations to help lower longer-run inflation in the transport sector. Source: TuSimple Self-driving truck startup TuSimple has fired its CEO, Xiaodi Hou, after an internal investigation found improper dealings and possible tech transfer to a Chinese firm led by TuSimple’s […]
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Fearing Covid, personnel flee from Foxconn’s broad Chinese Iphone plant
Foxconn employees take shuttle buses to head dwelling on Oct 30, 2022 in Zhengzhou, Henan Province of China. VCG | Getty Photos Immediately after enduring days of lock-in at Foxconn’s huge facility in central China with 200,000 other employees, Yuan eventually climbed the fences on Saturday evening and escaped the sophisticated, signing up for other […]
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Wells Fargo double downgrades Hanesbrands, says it can fall 30% on macro and balance sheet pressures
Sock and underwear maker Hanesbrands could fall more than 30% as it faces several major business challenges, Wells Fargo said in a double downgrade of the stock. Analyst Ike Boruchow lowered his rating of Hanesbrands to underweight from overweight, slashing his price target to $5, saying the North Carolina company must deal with increasing macroeconomic […]
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JPMorgan Chase wishes to disrupt the hire check with its payments platform for landlords and tenants
Vital Points JPMorgan is piloting a platform it designed for house owners and administrators that automates the invoicing and receipt of on line hire payments, in accordance to Sam Yen, chief innovation officer of JPMorgan’s professional banking division. “The wide vast majority of hire payments are still done by checks,” Yen reported. “If you speak […]
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Sell biopharma stock Amgen ahead of its obesity drug update, Barclays says
Investors should sell biopharma stock Amgen ahead of its obesity drug update next week, according to Barclays. Analyst Carter Gould downgraded Amgen to underweight from equal weight, saying there are high expectations around its obesity drug AMG133 after the stock’s rally this month. The stock is up 21.5% in October. Amgen holds an analyst call […]
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After leading $20 billion Figma deal, Adobe’s David Wadhwani is in prime spot to be next CEO
David Wadhwani, president of Adobe’s Digital Media unit, speaks at Adobe’s Max conference in Los Angeles in October 2022. Adobe In September 2009, with the stock market still in the doldrums from the Great Recession, Adobe announced plans to spend $1.8 billion for marketing software vendor Omniture, its second-biggest acquisition ever at the time. Prior […]
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