Economy
Trump to move fast on tariffs, says Wall Street firm, citing clients who met with ex-trade chief
Robert Lighthizer, former US trade representative, speaks during an event with former US President Donald Trump, not pictured, at Precision Components Group in York, Pennsylvania, US, on Monday, Aug. 19, 2024. Graeme Sloan | Bloomberg | Getty Images Donald Trump’s longtime trade adviser is apparently telling Wall Street money managers that if the Republican presidential nominee is reelected, he […]
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Turkey should continue tight, monetary policy until inflation at target, IMF says
Alexander Spatari | Moment | Getty Images The International Monetary Fund called for continued tight, data-driven monetary policy in Turkey until inflation converges to target as it concluded an Article IV consultation. The policy turnaround has reduced economic imbalances and revived confidence the IMF said on Saturday, adding that improved market sentiment caused foreign and […]
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Boeing to cut 17,000 jobs as losses deepen during factory strike
Boeing 737 MAX airliners are pictured at the company’s factory on Thursday, Sept. 12, 2024, in Renton, Wash. Stephen Brashear | AP Boeing will cut 10% of its workforce, or about 17,000 people, as the company’s losses mount and a machinist strike that has idled its aircraft factories enters its fifth week. It will also […]
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The Federal Reserve may have pretty much just hit its 2% inflation target
Federal Reserve Chairman Jerome Powell arrives to a news conference following the September meeting of the Federal Open Market Committee at the William McChesney Martin Jr. Federal Reserve Board Building on September 18, 2024 in Washington, DC. Anna Moneymaker | Getty Images This week’s inflation data provided more evidence that the Federal Reserve is nearing […]
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Stocks making the biggest moves midday: Tesla, Wells Fargo, JPMorgan Chase, Fastenal and more
Check out the companies making headlines in midday trading: Tesla — Shares of the electric vehicle maker tumbled more than 7% after its robotaxi event underwhelmed investors . Morgan Stanley analysts noted that the event “overall disappointed expectations” due to a lack of details in several areas, including how the company is going to compete […]
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French budget surprises with focus on tax hikes as analysts warn of ratings downgrades
France’s newly-installed government on Thursday presented a draft budget containing 60 billion euros ($65.6 billion) in tax hikes and spending cuts, as analysts warned the package may not be enough to stave off ratings downgrades for the economy. The 2025 budget features a greater focus on tax-raising measures than some were expecting. Analysts also flagged […]
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Stocks making the biggest moves premarket: Wells Fargo, JPMorgan, Tesla, Stellantis and more
Check out the companies making headlines in premarket trading. Wells Fargo — Shares of the San Francisco-based lender rose 3%, helped by better-than-expected earnings. Adjusted earnings came in at $1.52 per share, above the consensus estimate of $1.28 based on a survey of analysts by LSEG. However, the bank’s revenue of $20.37 billion came in […]
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Pharmacy deserts are appearing across U.S. as drug stores closures spread
A shuttered Rite Aid store in New Lebanon, Ohio. Kevin Williams New Lebanon, Ohio, population 3,756, has three dollar stores, a Groceryland grocery store, a few fast-food restaurants, a public library branch, and a spirit-filled school system. What it doesn’t have is a pharmacy. As part of Rite Aid’s bankruptcy filing in October 2023, the chain announced […]
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UK economy grows 0.2% in August, in line with expectations
Alexander Spatari | Moment | Getty Images LONDON — The U.K. economy grew 0.2% in August on a month-on-month basis, flash figures published by the Office for National Statistics showed Friday. Gross domestic product (GDP) came in line with the expectations of economists polled by Reuters, who had forecast growth of 0.2%. Britain’s economic growth […]
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Stocks making the biggest moves midday: First Solar, Tesla, CVS, TD Bank and more
Check out the companies making headlines in midday trading: First Solar — The solar stock slipped 8%, on pace for its worst day since July 15, after Jefferies cut its price target on the stock and said it expects First Solar’s third-quarter report to disappoint. Jefferies maintained its buy rating on the stock but said […]
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