Category: Markets
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Starbucks is sued again for alleged stealing concept for coffee-flavored lipstick By Reuters
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By Jonathan Stempel NEW YORK (Reuters) – A company has sued Starbucks Corp for a third time, accusing it of stealing its concept for coffee-flavored lipstick and lip gloss. Paluccino, whose leaders include the sister-in-law of televangelist Mehmet Oz, filed the complaint Friday in federal court in Manhattan. The lawsuit…
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Bank of Canada to cut by 25 bps in September and October. Eyes on next week’s CPI
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Bank of Canada Governor Tiff Macklem RBC continues to expect the Bank of Canada to cut rates by 25 basis points on September 4 and again on October 23. The market sees a very small chance of a 50 basis point rate cut at one of these meetings, but this…
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FTC sues Asbury Automotive, says it charged Black, Latino customers more By Reuters
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Written by Judy Godoy WASHINGTON (Reuters) – The U.S. Federal Trade Commission sued Asprey Automotive Group Inc. on Friday, alleging that three of its Texas dealerships charged black and Latino customers higher prices than others and routinely added services to customers’ contracts without their consent. Up to 75% of David…
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Fed’s Goolsbee: There are some things that are flashing yellow
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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Court blocks key part of California law on children’s online safety By Reuters
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By Jonathan Stempel (Reuters) – A U.S. appeals court on Friday upheld a key part of a court order blocking enforcement of a California law aimed at protecting children from online content that could harm them mentally or physically. The U.S. Court of Appeals for the Ninth Circuit in San…
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HSBC: What’s next for GBP after its resilience year-to-date?
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GBP/USD Daily HSBC analyses the factors behind sterling’s strong performance in 2024 and discusses potential challenges ahead. While the currency has been resilient due to rising interest rates, HSBC warns that the outlook may not remain favourable, especially with further rate cuts expected from the Bank of England. Key points:…
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Brazilian pet product retailer Petz shares soar on Cobasi merger deal By Reuters
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Written by Alberto Allergi SAO PAULO (Reuters) – Shares of Brazil’s Pets Inc rose on Friday after the company formally agreed to merge with rival Copasi to create the country’s largest pet products retailer. The merger agreement was first announced in April, when the two companies signed a memorandum of…
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Forexlive Americas FX news wrap: Gold hits an all time high above $2500
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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RBC countersues former CFO Ahn, claims breach of code of conduct By Reuters
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Written by Nivedita Balu TORONTO (Reuters) – Royal Bank of Canada filed a countersuit against ousted Chief Financial Officer Nadine Ahn on Friday, outlining the results of an internal investigation into her alleged intimate relationship with a subordinate and accusing her of violating the bank’s code of conduct. Last week,…
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US stock markets close with gains again. Best week since October 2023
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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US stock markets close with gains again. Best week since October 2023
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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Mercari reports record-high revenue in FY’24, eyes growth By Investing.com
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Mercari, Inc. (4385.T), the popular online marketplace operator, has reported a record-high consolidated revenue and core operating profit for the fiscal year 2024. CEO Shintaro Yamada and CFO Sayaka Eda shared the company’s financial achievements and strategic outlook, highlighting a 9% year-on-year revenue growth and a core operating profit of…
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Australian dollar likely to struggle against USD: Citi By Investing.com
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Citi FX analysts provide insights into the performance of the Australian dollar against various currencies, and predict a challenging path for the Australian dollar. According to the brokerage, the recent sharp drop in the exchange rate points to a long-term ceiling that formed at just below 110 yen to the…
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Daily Broad Market Recap – August 15, 2024
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Dollar dominance was the name of the game after the US posted strong retail sales numbers. How did the rest of the currencies and asset classes perform? Let’s discuss the headlines: Headlines: Australia MI July inflation expectations rise to 4.5% from 4.3% The Australian economy added 58.2 thousand jobs in…
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Israeli intel believes Iran response will take place at later date — report
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Israeli intelligence now assesses that Hezbollah and Iran have lowered the alert level of their rocket and missile units and that a response will come at a later time, according to five Israeli officials, quoted by The New York Times. “By Friday, Israeli intelligence assessed that Hezbollah and Iran had…
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GSK to seek dismissal of Florida case against heartburn drug Zantac By Reuters
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(Reuters) – British drugmaker GSK said on Friday it will seek to dismiss an upcoming Zantac lawsuit in Florida where plaintiffs alleged the company’s discontinued heartburn drug caused prostate cancer. The move follows a Florida court ruling Thursday in favor of GlaxoSmithKline and other defendants that threw out expert testimony…
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Citi expects NZD to underperform amid US election uncertainty By Investing.com
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Citigroup has expressed concerns about the potential impact of the upcoming US presidential election in November on high-beta currencies, and expects the New Zealand dollar (NZD) to underperform. According to Citigroup, the financial environment is likely to see increased risk aversion as the election approaches, which traditionally does not bode…
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Stocks Lose Steam as US Housing Data Disappoint: Markets Wrap
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(Bloomberg) — Stocks lost ground at the end of a strong week after a disappointing reading on the housing market, as traders awaited data on U.S. consumer sentiment. Most Read from Bloomberg Stocks fell in early trading in New York, with the S&P 500 set to end a six-day winning…
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How to Turn Trading Weaknesses Into Strengths
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Let’s say you just had a huge losing streak. What would you most likely do next? Are you the type of trader who gets so depressed that you can’t receive clear Forex trading signals, or are you the type of trader who can shake off this depression easily? No matter…
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ForexLive European FX news wrap: Dollar retreats alongside bond yields
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Headlines: Markets: Japanese Yen Advances, USD, CAD Lag on the Day European stocks rise; S&P 500 futures down 0.2% The yield on the 10-year US Treasury note fell 5.9 basis points to 3.867%. Gold rises 0.6% to $2,469.79 West Texas Intermediate crude fell 2.9% to $75.86. Bitcoin price rises 2.9%…