Category: News
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Indian Rupee Becomes Second Worst Asian Currency This Quarter
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Breadcrumbs Path Links PMN Business Before the trading day begins, we provide you with a summary of the major news and events that are likely to move the markets. Today we take a look at: Article author: Bloomberg News Ashutosh Joshi and Ronojoy Mazumdar Published on August 1, 2024 •…
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UJA-Federation NY, Microsoft Israel help Majdal Shams
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The New York Jewish Community Federation donated funds to two hospitals in Nazareth and to the local council in Majdal Shams. The New York Jewish Community Federation has donated NIS 6 million to St. Vincent de Paul Hospital (French Hospital) and EMS Nazareth Hospital (English Hospital) in Nazareth, to establish…
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Berkshire Hathaway sells Bank of America shares worth over $778 million By Investing.com
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Berkshire Hathaway General Electric (NYSE:GE), led by famed investor Warren Buffett, recently sold a large chunk of its shares in Bank of America Corp (NYSE:NYSE:). The total sales, which took place over several days, amounted to more than $778 million. The sales series began on July 30, 2024, when Berkshire…
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Intel’s Sales Slump Shows Price of Falling Behind in AI Race
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(Bloomberg) — Intel Corp. shares fell more than 19% after delivering a slew of dizzying news, including a bleak growth outlook and plans to cut 15,000 jobs, in the latest sign the chipmaker is ill-equipped to compete in the age of artificial intelligence. Most Read from Bloomberg The company said…
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Amazon’s Jassy sees ‘huge potential’ in AWS as genAI ‘going to get big fast’ (AMZN)
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Amazon (NASDAQ:AMZNMixed second-quarter results coupled with weak guidance may have spooked investors and sent shares sharply lower after-hours, but the growth potential of Amazon Web Services, or AWS, and the company’s intention to capitalize on remaining earnings Increasing market share in cloud computing should encourage investors. “Amazon had a decent…
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Intel slashes 18,000 jobs and suspends dividend to better compete with chip rivals Nvidia and AMD
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West Virginia Governor Jim Justice, a Republican candidate for U.S. Senate, is fighting to keep his iconic Greenbrier Hotel. A legal notice announcing the auction of the luxury resort near White Sulphur Springs over unpaid debts was published in the West Virginia Daily News on Wednesday — the latest development…
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CMA clears three more firms to trade at Nairobi coffee auction
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The Capital Markets Authority has granted full coffee brokerage licenses to three companies, allowing them to trade on the Nairobi Coffee Exchange (NCE). The regulator also granted a six-month extension to a special licence allowing New Kenya Planters Co-operative Union Plc (NKPCU) to trade as a coffee broker. The special…
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Prince’s Trust warns of ‘digital skills crisis’ as over third of young people lack confidence in securing tech jobs
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The Prince’s Trust, in collaboration with Solutions Research and supported by Cognizant, has released a new report highlighting the growing ‘digital skills crisis’ among young people in the UK. According to the findings, more than a third of young people (37%) are concerned that they lack the digital skills needed…
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RBC, Deutsche Bank plan US$4.5-billion debt sale for R1 RCM
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Article Content Deutsche Bank and Royal Bank of Canada are preparing to issue a $4.5 billion debt package to help finance Towerbrook Capital and Clutton Dubilier & Rice’s planned purchase of R1 RCM Inc., according to people familiar with the matter. The financing could include a leveraged loan of up…
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Sderot to have own innovation center
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The center, adjacent to the Sderot train station, is planned to include a technology incubator. An innovation center will be built next to the railway station in Sderot in southern Israel. Construction of the first part of the center will begin soon – four years after the foundation stone was…
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Bunzl Accelerates Sustainability with Electric Vehicles By Investing.com
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BURLINGTON, Ontario, Aug. 1, 2024 (GLOBE NEWSWIRE) — Bunzl Canada (bunzlcanada.ca) today announced the company’s first electric-powered haulage truck for Bunzl Cleaning and Janitorial’s Toronto delivery routes. The vehicle will not only reduce greenhouse gas emissions, but also reduce engine noise. The new delivery truck is designed and manufactured by…
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July’s ‘furious rotation’ was a catch-up for global equities that lagged in Q2 – DataTrek
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Pavel Muravyov July saw a sharp drop in interest rates, causing a “violent turnover” in cyclical and interest rate-sensitive sectors such as small caps in the US (VB), (IJR), (SCHA), (IWM), as well as Europe (IEUR) and Japan (EWJ). Both two-year (US2Y) and ten-year (US10Y) Treasury bondsYields fell from 4.72%…
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7-Eleven begins selling pumpkin-spiced Slurpees
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The seasonal creep of pumpkin spice is one of those things we’ve all had to learn to live with. We’ve also had to learn to accept the expansion of pumpkin spice from lattes to things like Oreos and Cheerios. But 7-Eleven may have finally gone too far. The retail chain…
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Bank of England cuts interest rates to 5% in first reduction since 2020
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The Bank of England has cut interest rates for the first time in more than four years, providing much-needed relief to millions of homeowners and families still struggling with the high cost of living. In a controversial decision announced at midday, the nine-member Monetary Policy Committee voted 5-4 to cut…
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Elbit wins $340m Israeli MoD ammunition deal
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Israeli defense technology company Elbit Systems Ltd. (NASDAQ: ESLT; level:ESLTElbit Systems announced today that it has been awarded a contract worth approximately $340 million to supply ammunition to the Israeli Ministry of Defense. The contract will be executed over a period of 10 years. Elbit Systems will establish a manufacturing…
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1 Growth Stock Down 33% to Buy Right Now
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Between disappointing quarterly results, lower guidance, and a few recent cuts, Ulta Beauty (NASDAQ: ULTA) This investment is not very interesting at the moment. The stock has fallen 33% from its February high to its lowest level in two years, precisely because the market has lost hope. But as the…
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UK’s PMI rises to two-year high of 52.1 in July
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Joseph Clark The seasonally adjusted S&P Global Manufacturing Purchasing Managers’ Index (PMI) for the UK rose to a two-year high of 52.1 in July, up from 50.9 in June and the previous flash estimate of 51.8. Key findings include: Fastest output growth since February 2022; higher input price inflation to…
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Educators use AI to plan lessons, motivate kids, and make teaching easier
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Teachers have spent the past few years complaining about ChatGPT’s ability to help students cheat on their assignments. Generative AI can write a college essay or answer a math problem in a fraction of the time, making it a tempting shortcut. Professors have accused — accurately or not — their…