Tag: breaking news
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Fed Governor Cook says she’s ‘prepared to act’ on rate hike to address inflation
Cook was part of a 9-3 majority that voted last week to keep the central bank’s benchmark borrowing rate in a range between 3.5%-3.75%.
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Private companies added just 44,000 workers in July, below expectations, ADP reports
Hiring at private companies slowed considerably in July, with most of the job growth coming health care.
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China’s super-rich ‘in shock’ and hunting for cash as Beijing issues surprise tax on offshore trusts
Beijing’s move to tax offshore trusts, long used by China’s ultra-rich to hold money, has set off a rush to lawyers and a scramble for cash.
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Philadelphia Fed President Paulson content with rates at current level, but keeping an open mind
Paulson said voting with the majority last week wasn’t a tough decision.
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Big Tech’s Anthropic and OpenAI stakes are distorting the corporate earnings picture
If you were to strip out Big Tech’s investment gains from private AI companies, the earnings story is a lot less bullish.
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Manufacturing survey shows inflation worries ‘worse than pandemic era,’ adding to Fed pressure
The commentary pointed to a highly volatile environment in which purchasing managers were struggling to stay ahead
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Trump says Iran talks to resume Monday after calling off planned strikes
The latest peace proposal calls for warring parties to return to negotiations and continue working out some of the thorny issues that derailed diplomatic efforts.
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Fed officials who voted to hike rates say action is needed now against inflation
Kashkari and Hammack joined Dallas Fed President Lorie Logan in dissenting against holding the Fed’s key overnight borrowing rate steady.
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U.S. economy slowed to 1.5% growth rate in Q2; June core inflation at 3.3%
While the GDP number was below expectations, the miss appeared to come from a decline in federal government spending and inventories.
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Stocks making the biggest moves after hours: Microsoft, Meta, Starbucks, Carvana and more
These are the stocks posting the largest moves in extended trading.
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