Tag: business news
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K-shaped economy shows up in housing: Luxury sales rise as starter-home buyers struggle
Even as luxury homes fly off the market, sales of starter homes are down despite growing inventory and more price cuts, research shows.
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Citi downgrades airline stock to ‘sell’ worries about leisure travel
Citi downgraded JetBlue Airways to sell from hold, citing headwinds for leisure travel, among other challenges for the airline stock.
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Martha’s Vineyard African American Film Festival set for record attendance despite macro challenges
MVAAFF founder Floyd Rance says the festival has found a sustainable audience on the Massachusetts island, helping it weather macroeconomic uncertainty.
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Yen rally fades a week after U.S.-Japan intervention as focus shifts to policy
The coordinated involvement from the Treasury and BoJ had initially lifted the yen as low as 155 to the dollar, down from just above 163 beforehand.
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SK Hynix to invest $38 billion building new memory chip plants as demand soars
Memory prices have surged because of short supply and huge demand with investors watching closely for any changes to the supply-demand imbalance.
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Volkswagen controlling families call for faster overhaul to fend off Chinese rivals
Volkswagen’s top investor on Friday called on the auto giant to take immediate action to fend off intensifying competition from Chinese car brands.
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Hormuz closure clouds China’s crude imports after they hit a 3-month high in July
China’s crude oil imports recorded a smaller decline in July, though the recovery may be short-lived, as the conflict drags on and demand remains soft.
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The 72-hour crisis that could upend Meta’s business in India as firm risks losing legal protection
U.S. social media giant Meta is facing increasing pressure from Indian regulators, including demands to revoke the firm’s safe harbor immunity in the country.
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China’s exports jump 23% in July, beating estimates; imports cool
China’s exports rose more than expected in July, as global demand for high-tech components continues to absorb the country’s manufactured goods.
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Oil rises amid supply disruption fears following Iran’s restrictive draft plan for the Strait of Hormuz
News of Iran’s restrictive draft plan for the Strait of Hormuz sent oil prices higher, renewing concerns over supply disruptions.
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