Tag: Business
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Oil prices fall 5% to two-week low on hopes for US-Iran conflict easing
July 28 : Oil prices dropped 5 per cent on Tuesday to a two-week low, on cautious hopes for a resolution to the Iran war as traders assessed developments in the Middle East.Brent futures fell $4.61, or 5.2 per cent, to $83.75 a barrel at 12:01 p.m. EDT (1601 GMT). U.S. West Texas Intermediate (WTI)…
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Robinhood CEO Vlad Tenev says X account was hacked
July 28 : Robinhood CEO Vlad Tenev said on Tuesday that a hacker had posted fake content about a memecoin on his X account after it was compromised last week.”A fraudster socially engineered X customer support to gain access, bypassing standard security features like 2FA and login notifications…,” Tenev sai
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Bitcoin miner Ionic Digital valued at $2.25 billion after shares fall in Nasdaq debut
July 28 : Ionic Digital, a bitcoin miner and cloud infrastructure provider, was valued at about $2.25 billion after its shares fell in their Nasdaq debut on Tuesday.The stock opened at $50 apiece, down nearly 5.7 per cent from a reference price of $53 set by the Nasdaq on Monday.A direct listing allows
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Shein’s US operations under FTC’s scrutiny
July 28 : Shein’s U.S. operations are under investigation by the U.S. Federal Trade Commission, the fast-fashion e-commerce platform said in the documents relating to its Hong Kong IPO that were published by Hong Kong’s stock exchange on Sunday.
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Ford Motor is set to report earnings after the bell. Here’s what Wall Street expects
Wall Street analysts expect Ford to report adjusted earnings per share of 35 cents and automotive revenue of $45.86 billion.
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Shein says it’s under investigation by the Federal Trade Commission as it prepares for Hong Kong IPO
Shein disclosed the FTC is investigating its U.S. business, but the nature of the probe is unclear.
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Hedge funds on track for another stellar year on AI boom
NEW YORK, July 28 : Global hedge funds are on track for another blockbuster year, as they look to surpass their returns from 2025 after an artificial intelligence boom buoyed first-half performance for money managers across most investment strategies, according to a Goldman Sachs note sent to clients that was seen b
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EBay, former executives to pay $56 million to settle couple’s harassment case
July 28 : EBay and three former top executives have agreed to pay $55.7 million to resolve a lawsuit by a Massachusetts couple who fell victim to a bizarre stalking and harassment campaign carried out by several of its employees in retaliation for their coverage of the e-commerce company in a newsletter they publish
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Apple briefly becomes second company ever to notch $5 trillion market value
July 28 : Apple’s market capitalization briefly surpassed $5 trillion for the first time on Tuesday, making it only the second company ever to achieve that milestone after Nvidia. Its shares were last up 0.2 per cent at $337.7, giving it a market capitalization of $4.96 trillion. At a session high of $342.89,
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Meta, BlackRock partner on $14 billion El Paso data center venture
July 28 : Meta Platforms and the world’s largest asset manager BlackRock on Tuesday announced a venture to develop and operate a data center campus in El Paso, Texas, a project that would cost about $14 billion in development.The race to build out AI infrastructure has prompted tech giants to turn to debt sal
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