Category: News
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Staycations boost Israeli hotel occupancy as prices soar
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The long summer vacation is upon us, and many Israelis are choosing to spend their vacations at home rather than abroad, amid the national mood, reluctance to travel abroad due to the war, and uncertainty about air travel as many foreign airlines cancel flights. There may be no foreign tourists…
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steady at $58k, lags broader market recovery By Investing.com
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Bitcoin fell slightly on Friday and was set to post a middling weekly performance as crypto markets saw a lag in the recovery in equities on concerns over further token distributions by Mt Gox and an unclear regulatory outlook. The cryptocurrency was down 0.1% at $58,238.5 by 01:46 ET (05:46…
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Plan from California’s Newsom would make refiners stockpile fuel reserves (NYSE:CVX)
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Justin Paget/Digital Vision via Getty Images California Gov. Gavin Newsom proposed legislation Thursday that would require oil refineries in the state to Maintain minimum reserves of gasoline and other fuels in an effort to prevent supply shortages and price hikes during refinery outages. Energy in California The commission said refineries…
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JPMorgan: You can profit 70% of the time you buy the dip in corporate debt
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It’s usually worth buying U.S. corporate bonds when the market is weak, according to a research note from JPMorgan Chase & Co. Investors who buy high-quality U.S. corporate bonds when spreads widen have made profits over the next three months about 70% of the time, strategists led by Eric Benstein…
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BAT triples solar use in renewable energy drive
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Cigarette maker British American Tobacco (BAT) has tripled its solar power consumption in the past year after completing major solar installations to improve its renewable energy capacity. The latest filings show the company’s solar power consumption has risen to 1,271 megawatt-hours in 2023, up from 474 megawatt-hours previously, reducing its…
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Disney claims widower cannot sue over wife’s death at theme park restaurant due to Disney+ subscription agreement
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Disney has come under fire after claiming that a widower whose wife tragically died after suffering a severe allergic reaction at a Walt Disney World restaurant cannot pursue legal action against the company because he had previously signed up for a free trial of Disney’s streaming service, Disney+. Kanokporn Tangsuwan,…
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Inflation in Israel rises back above target range
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Israel’s consumer price index rose 0.6% in July, slightly above expectations. In the 12 months to the end of July 2024, the inflation rate rose to 3.2% from 2.9% at the end of June, according to figures released by the Central Bureau of Statistics today. As a result, inflation rose…
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NVE Corp director Terrence Glarner sells shares worth $27,076 By Investing.com
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According to a recent filing with the U.S. Securities and Exchange Commission, Terrence Glarner, the director of NVE Corp. (NASDAQ:NVEC), completed the sale of the company’s shares on August 15. The transaction involved the sale of 344 shares at $78.71 per share, for a total of approximately $27,076. This sale…
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Lockheed to buy satellite products maker Terran in $450 million deal
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(Reuters) – Lockheed Martin Corp on Thursday agreed to acquire satellite products maker Terran Orbital in a $450 million deal, months after the defense contractor withdrew its previous offer to buy the company. Lockheed will pay 25 cents in cash per share, a 37.5% discount to Terran’s last closing price.…
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Portillo’s stock gains after report activist Engaged Capital has stake
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Joe Hendrickson/iStock Editorial via Getty Images Portillo’s Hot Dog Restaurant ChainNASDAQ:PTLO) Up 3% After a report that activist firm Engaged Capital has raised a stake of around 10% and is pushing for changes. The activist is talking to management about improving operations, margins and brands as the Chicago-based chain operates.…
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Top Fed official says he’s open to a rate cut sooner rather than later amid slowing inflation
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Inflation is slowing, and at least one Federal Reserve official has said he is “open” to cutting interest rates at the central bank’s next meeting in September. “The Fed is not going to be able to do that,” said Rafael Boucek, president of the Atlanta Federal Reserve and a voting…
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Number plate shortage hits motor vehicle industry
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The shortage of number plates has affected the automotive industry, negatively impacting sales and cash flow for dealers. Traders who spoke to this publication say the supply crisis has been going on for three weeks, while the National Transport and Safety Authority (NTSA) remains reticent to address the issues. Dealers…
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Edgar Bronfman Jr. to prepare an offer for Paramount Global, Bloomberg News reports By Reuters
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Seagram heir Edgar Bronfman Jr. is close to making a bid for National Amusements Inc. that would rival an acceptable offer from Skydance Media Inc., Bloomberg News reported Thursday, citing people familiar with the plans. The former Warner Music chief had expressed interest in buying National Amusements, Paramount’s controlling shareholder,…
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Thousands of rail fare prosecutions to be overturned following landmark ruling on legal process
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Up to 74,000 rail fare evasion prosecutions in England and Wales are set to be thrown out after a landmark ruling found the legal process used by UK train companies was unsound. Judge Paul Goldspring, the president of the UK’s High Court, ruled on Thursday that the single justice procedure,…
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AI access control co Knostic wins Black Hat startup award
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Earlier this week, during Black Hat, the world’s largest cybersecurity conference, an early-stage Israeli AI startup announced Knostic Knostic, founded last year, took first place in a major startup competition. This isn’t the first competition Knostic has won. Three months ago, Knostic took first place in the startup competition at…
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2024 looks reminiscent of 1970 and 2001 recession years: Piper Sandler By Investing.com
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According to a recent analysis by Piper Sandler, the economic landscape in 2024 bears striking similarities to the recessions of 1970 and 2001, with some critical differences that could lead to a sharper slowdown. Analysts draw parallels between the current environment and those of previous recessions, pointing to “the big…
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Retail sales soar past Wall Street estimates in July
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Retail sales beat Wall Street estimates in July, helping ease concerns about a major slowdown in the U.S. economy. Retail sales rose 1% in July. Economists had expected a 0.4% increase in spending, according to Bloomberg data. Meanwhile, retail sales in June were revised down to a 0.2% decline, from…
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Brinker International gains after KeyBanc calls out a compelling entry point (NYSE:EAT)
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Sanville Brinker International (New York:EAT) rose in early trading Thursday after KeyBanc Capital Markets upgraded the restaurant’s stock to an Overweight rating. The company sees a compelling entry point for investors after the stock’s double-digit decline following Brinker Earnings report. “We believe Brinker’s Q4 2024 results are underwhelming and deserve…
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Whole Foods Market’s CEO grocery shops at least 14 times a week, even on vacation: ‘I’m probably very abnormal’
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Between running billion-dollar companies and managing hundreds of employees, most CEOs don’t have time to go grocery shopping. But Whole Foods Market CEO Jason Buechel chooses to shop 14 times a week. “I go to the grocery store at least twice a day, every day,” Buechl said in a recent…