Category: News
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Carvana unveils its first auction Megasite in Kansas City (NYSE:CVNA)
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Felix Mezioznikov Carvana (NYSE: CVNAMegasite Inc. announced Monday the development of its first auction and rehabilitation of Megasite in Kansas City. The auto retailer said the transformation will see the creation of inspection and repair center capabilities at its existing ADESA Kansas City wholesale auction. The site, while maintaining all…
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Republican impeachment report accuses Joe Biden of corruption; lacks criminal allegations
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House Republicans have released their initial proposals. Achieving isolation Report to the President Joe BidenAlleging abuse of power and obstruction of justice in his son’s financial dealings. Hunter Biden And family members. The nearly year-long Republican investigation stopped short of accusing the president of any criminal wrongdoing. Instead, the 300-page…
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State dividend income hits Sh80bn on Ruto directive
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Treasury earnings from public investments for the fiscal year ending June 2024 nearly doubled on the back of a presidential order requiring parastatal commercial companies to surrender 80 percent of their net profits to the Treasury. New disclosures show investment income jumped 95.43 per cent to Sh80.72 billion in the…
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Ted Baker to close all UK stores as potential Mike Ashley deal falters
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Ted Baker is set to close its last 31 UK stores this week, putting around 500 jobs at risk, as uncertainty grows over a potential rescue deal involving Mike Ashley’s Frasers Group. The closures mark the end of the retailer’s presence on the British high street, after months of turmoil…
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Indonesia Seeks Bigger Biodiesel Blend to Reduce Fossil Fuel Use
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Breadcrumbs Path Links PMN Business Indonesia is seeking to blend more palm oil into diesel to cut its use of fossil fuels, with the ambitious target raising the risk of tightening tropical oil supplies. Article author: Bloomberg News Ecolisterin Published on August 19, 2024 • Read for 2 minutes You…
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Israeli universities retain top 100 status in Shanghai Ranking
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The Weizmann Institute of Science in Rehovot has become Israel’s highest-ranked university, overtaking the Hebrew University of Jerusalem. Despite calls to boycott Israeli universities, Israeli universities maintained their high positions in the Shanghai Ranking of the World’s Best Universities, with three universities among the top 100. The Weizmann Institute of…
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Israeli universities retain top 100 status in Shanghai Ranking
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The Weizmann Institute of Science in Rehovot has become Israel’s highest-ranked university, overtaking the Hebrew University of Jerusalem. Despite calls to boycott Israeli universities, Israeli universities maintained their high positions in the Shanghai Ranking of the World’s Best Universities, with three universities among the top 100. The Weizmann Institute of…
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The softest of soft landings By Reuters
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A look at the day ahead in European and global markets from Wayne Cole. Markets started the week with a day of consolidation after their best week this year, amid expectations of a softer than expected U.S. economy — or no decline at all, with many analysts forecasting continued growth…
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Shares in Asia Advance With Jackson Hole in Focus: Markets Wrap
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(Bloomberg) — Asian stocks rose Monday, as traders looked ahead to the Federal Reserve’s annual meeting in Jackson Hole for any clues about the future path of interest rates. Most Read from Bloomberg A regional stock index rose, extending Friday’s gains. Chinese stock markets rose, led by technology shares. Japanese…
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Evercore ISI screens banks likely to fare better when the Fed cuts rates (NASDAQ:FITB)
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Richard Drew When the Fed raises interest rates, banks’ net interest income generally rises. So, when the central bank eases monetary policy, it makes sense that banks’ net interest income will fall. But it’s more complicated than that, as Evercore ISI explains. Analyst John Pancari said in a recent note…
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Evercore ISI screens banks likely to fare better when the Fed cuts rates (NASDAQ:FITB)
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Richard Drew When the Fed raises interest rates, banks’ net interest income generally rises. So, when the central bank eases monetary policy, it makes sense that banks’ net interest income will fall. But it’s more complicated than that, as Evercore ISI explains. Analyst John Pancari said in a recent note…
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Disney films account for 42% of the industry’s summer box office
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“Alien: RomulusThe latest installment in the 45-year-old franchise opened at No. 1 at the North American box office. The 20th Century Studios release grossed an estimated $41.5 million in its opening weekend, playing at 3,885 locations in the United States and Canada. Including $66.7 million from international screenings in 49…
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Why noose has tightened on Kitui County government over Sh1.05bn KRA tax claim
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The Kitui County government has failed to clear various tax claims from the Kenya Revenue Authority amounting to over Sh1 billion. The Tax Appeal Tribunal (TAT) has rejected an attempt by the provincial government to quash KRA’s claims, noting that it failed to satisfactorily comply with the provisions of the…
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Oneweb CEO resigns amid growing french influence after merger with Eutelsat
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Stephen Beynon, the British chief executive of satellite internet provider OneWeb, is set to resign, less than a year after the company merged with France’s Eutelsat. His departure comes amid reports of growing French dominance within the newly merged group, with key decisions shifting away from the UK. OneWeb, founded…
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Harris Heads to Chicago With Momentum — and GOP Criticism Rising
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Breadcrumbs Path Links PMN Business Kamala Harris heads into the Democratic National Convention riding a wave of momentum, as Republicans work to build an advantage with voters by attacking her new economic agenda. Article author: Bloomberg News Alicia Diaz Published on August 18, 2024 • Read for 3 minutes You…
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El Al pays no tax on its record profits
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dominance El Al Israel Airlines Ltd. (level:Ilal) in the skies over Israel, after many foreign airlines canceled flights to and from Israel over fears of an Iranian strike, resulting in a record net profit of $147 million in the second quarter of 2024. With El Al able to charge high…
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This “Magnificent Seven” Stock Could Become the World’s First $4 Trillion Company in 2024
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apple (NASDAQ:AAPL) Apple is the world’s most valuable company right now with a market cap of about $3.3 trillion, but the tech giant’s stock hasn’t performed as well as some other big tech names so far this year. apple, along with Amazon, Nvidia, Microsoft, alphabet, Meta platformsand Teslaare the seven…
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Over half of Fortune 500 companies consider AI a potential risk factor: report (NYSE:DIS)
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According to a survey of annual financial reports by research platform Arize AI, more than half of Fortune 500 companies cited AI as a potential risk factor to their business. 56% of the largest companies in the United States view artificial intelligence as a potential risk, a big jump from…
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Recession indicator now slows the economy, creator says
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The creator of the inverted yield curve, a recession indicator with a decades-long track record of accuracy, said it has evolved beyond just a warning of a future slowdown and now has implications for the economy. The reversal occurs when long-term bond yields fall below short-term bond yields, an anomaly…