News - 2024-09-19

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Stay informed with the latest market news and analysis.

Meta, YouTube and other sites collected more data than most users realized, a new report by the Federal Trade Commission finds.

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Artificial intelligence is being developed to help organise holidays, but is it any good?

Some economists have linked a drop in consumer confidence to officials' warnings of a painful Budget.

The company behind the resealable containers filed for bankruptcy, but the term outgrew its origins decades ago.

Elliott Hill, an executive who left the company after Donahoe’s appointment in 2020, will return as chief executive, Nike’s board said.

The company looks to shake things up as demand for its trainers falters in international markets.

The S&P 500 reached a fresh record high on Thursday, supported by the Federal Reserve's oversized rate cut and jobless claims that were below estimates.

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Nike's new CEO: What to know

Sep 19, 2024, 5:57 PM

Nike has pulled longtime company veteran Elliott Hill out of retirement to serve as president and chief executive, replacing CEO John Donahoe.

Nike named a new CEO as Wall Street has questioned the company's plan to reinvigorate sales growth.

Hill was at Nike for 32 years and held senior leadership positions across Europe and North America and was responsible for helping grow the business to more than $39 billion, Nike said. Hill previously was president, consumer marketplace at Nike, leading all commercial and market operations for Nike and Jordan brand, before retiring in 2020. Donahoe was tasked with bolstering Nike's online presence and drive sales through direct-to-consumer channels.

“This is not something that the Fed can really fix,” he said after delivering a historic rate cut.

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Investors celebrated the Federal Reserve's super-sized interest rate cut and what is likely the start of a longtime coming easing cycle that should lower borrowing costs for consumers and businesses.

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New options have arrived, for both U.S. passports and driver’s licenses, that may give travelers more flexibility.

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Trump maintains a roughly 60% stake in Trump Media & Technology Group, which trades on the Nasdaq under the ticker symbol "DJT."

Wall Street has absorbed the Fed's message that a deep cut will prove positive for the economy.

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Fed Chair Jerome Powell noted that policymakers weighed recent downward revisions to employment figures when assessing the health of the labor market ahead of their rate cut decision.

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Fed Chair Jerome Powell said at a press conference that the influx of migrants into the U.S. has contributed to the rise in the unemployment rate as they enter the labor market.

Darden Restaurants plans to start delivering Olive Garden food via Uber later this year, according to a Thursday announcement from the company.

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Simpler Trading VP of Options Danielle Shay analyzes the options market after the Fed's big rate cut on 'Making Money.'

Grant's Interest Rate Observer editor Jim Grant discusses the obstacles facing the Fed after its 50 basis point rate cut on 'Making Money.'

The average rate on a 30-year loan fell to 6.09% this week, according to Freddie Mac. Mortgage rates have been falling over the last few months in anticipation of the Fed rate cut that came Wednesday.

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AI chipmakers Nvidia and Advanced Micro Devices led the tech stock rally Thursday, following the Federal Reserve’s sizable, 50 basis point interest rate cut.

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People who bought homes in the past two years may want to seek a lower interest rate. Here’s how to think it through — and how to shop.

Palworld, a video game mocked as “Pokémon with guns,” became one of the most popular games in the world when it was released in January.

The Fed eased any prevailing investor concerns that it's aggressively cutting interest rates because it believes an economic slowdown is on the horizon.

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The campaigner says it is time for a commitment for certain claims to be paid out over the next six months.

Sen. Bill Hagerty, R-Tenn., argues that the Democrats condemning Israel has to do with appeasing the far-left sector of the Party.

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The S&P 500 had already been climbing as investors grew more confident that the Federal Reserve would cut interest rates by half a percentage point. Thursday’s gain put the index in range of a closing record.

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Leaders around the world are asking the European Union to delay rules that would require companies to police their global supply chains.

Hennion & Walsh Chief Investment Officer Kevin Mahn analyzes the markets following the Federal Reserve’s historic rate cut on ‘Varney & Co.’

Mortgage rates fell again this week with the benchmark 30-year note marching closer to 6%, but the market remains stalled as potential buyers and sellers wait for steeper declines.

The decline in mortgage costs, influenced by expectations of the Federal Reserve’s rate moves, could revive interest in buying, selling and remortgaging, economists said.

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BBC News speaks to Boeing workers on the picket line about why they feel they have no choice but to strike.

Former President Trump paid a visit to a Manhattan bar that’s geared toward cryptocurrency on Wednesday evening as he continued on the campaign trail.

Large organizations and brands saw their advertising dollars funneled to videos amplifying inflammatory narratives, underscoring how difficult it can be to maintain brand safety online.

(Reuters) -BofA Global Research was the only major brokerage to raise its forecast for the Federal Reserve's anticipated interest-rate cuts for the rest of 2024, a day after the U.S. central bank delivered an outsized cut. The Wall Street brokerage said it expects a 75-basis point reduction in the fourth quarter, compared with its earlier forecast for two 25-bp cuts in the Fed's November and December meetings. Fed policymakers themselves have projected the benchmark interest rate will fall by another half a percentage point by 2024-end.

Walt Disney Animation Studios is replacing Jennifer Lee, its chief creative officer, after an uneven six-year tenure.

The number of Americans applying for unemployment benefits fell to their lowest level in four months last week. Jobless claims slid by 12,000, to 219,000, for the week of Sept. 14, the Labor Department reported Thursday. Weekly filings for unemployment benefits, considered largely representative of layoffs, had risen moderately since May before this week's decline.

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US bank stocks surged Thursday following a jumbo rate cut from the Federal Reserve, a sign of bullishness among investors who now expect an easing of monetary policy will boost Wall Street giants and smaller regional lenders.

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Trump maintains a roughly 60% stake in Trump Media & Technology Group, which trades on the Nasdaq under the ticker symbol "DJT."

Darden and Uber stocks jumped Thursday after the announcement of a multi-year food delivery partnership.

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Donald J. Trump, the company’s largest shareholder, has said he won’t sell when a lockup agreement expires on Thursday. But other large investors could.

There's yet another Chinese electric car aiming to undercut Tesla, with a steeper discount.

Heritage Foundation research fellow and economist EJ Antoni discusses whether politics plays a part in Fed rate cuts and analyzes Trump's tax policy on 'Varney & Co.'

Woodshaw Financial Group principal D.R. Barton discusses whether the Federal Reserve's rate cut will stop the economic slowdown and lead to a market rally on 'Varney & Co.'

Wall Street has absorbed the Fed's message that a deep cut will prove positive for the economy.

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Wall Street has absorbed the Fed's message that a deep cut will prove positive for the economy.

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The Motion Picture Association has been wooing the company for years. The addition gives the group a lot more muscle.

Official figures show that while commuter numbers have been rising, seating has barely budged.

Investors have sent stocks and bonds higher on expectations of a soft landing. But some Republicans think the central bank overstepped its bounds.

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Gatestone Institute senior fellow Gordon Chang warns over China copying Israel's devices hack in everyday appliances, EVs and cybersecurity.

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The British central bank has emphasized its intention to move steadily to ensure that inflation continues to slow.

Wall Street has absorbed the Fed's message that a deep cut will prove positive for the economy.

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Wall Street has absorbed the Fed's message that a deep cut will prove positive for the economy.

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As inflation cools and the Federal Reserve cuts rates, an era of economic upheaval is coming to a close, but not without lingering marks.

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BYD, which leads China’s electric vehicle sector, is constructing a plant in Hungary while its Chinese rivals expand through joint ventures in Europe.

Bank of England interest rates affect the mortgage, loan and savings rates for millions of people.

The Federal Reserve cut interest rates for the first time in four years, announcing a 50 basis point cut and policymakers forecasting additional cuts amid progress in slowing inflation.

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O'Leary Ventures Chairman Kevin O'Leary reveals what Kamala Harris' economic agenda could mean for the country, warning it has the potential to 'destroy' America.

Uncertainty in of itself can make consumers hold off on making any major buying decisions. A perfect example is the uncertainty over who wins the election this November.

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The Federal Reserve cut interest rates for the first time in four years on Wednesday, which will directly impact auto loan rates -- but don't expect a big change anytime soon.

The Fed didn’t want to be behind the curve again.

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The Hong Kong airline was forced to turn a flight around after an engine problem.

Potential homebuyers and sellers have been holding off on making a move amid elevated mortgage rates and sky-high prices. But will the Federal Reserve's rate cut make a difference?

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The president’s speech on Thursday won’t be a “victory lap,” officials said, but it will celebrate falling inflation and borrowing costs along with solid growth.

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The High Street retailer claims entertainment is exposing the global market to different fashions.

Investors who anticipated furious market swings following the U.S. Federal Reserve's bumper rate cut saw more of a muted reaction. Traders had been facing high uncertainty as they awaited the expected rate cut on Wednesday, with a split between those expecting 50 basis points and 25 basis points. But while market reaction was muted, with stocks and the dollar reversing positions to mostly come full circle, there could be another wave of action.

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(Bloomberg) -- Share futures rallied alongside Asian equities on expectations the Federal Reserve’s half-percentage-point interest-rate cut will guide the world’s largest economy toward a so-called soft landing.Most Read from BloombergCalifornia’s Anti-Speeding Bill Can Be a Traffic Safety BreakthroughAOC Proposes $30 Billion Social Housing AuthorityNew York City’s Transit System Plans $65.4 Billion of Upgrades for Grand Central, SubwaysTo Build a Happier City, Design for DensityPipe Fire Near H

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Analysts have welcomed the move by UniCredit, particularly because a tie-up between the two banks might spur more M&A activity in Europe's banking sector.

The Japanese company alleges that the Palworld video game "infringes multiple patent rights".

The Japanese electronics manufacturer Icom said it stopped making the walkie-talkie model in 2014 and has warned about fake versions for several years.