economy

Wefox CEO ‘disgusted’ by mass tech layoffs: ‘These are humans’

Wefox CEO Julian Teicke. Wefox HELSINKI, Finland — The boss of European digital insurance startup Wefox offered a damning response to tech companies that have laid off workers en masse. the likes of Meta, Amazon and Twitter have laid off tens of thousands of employees in response to pressure from investors, who want to see …

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Fed officials see smaller rate hikes coming ‘soon’

Federal Reserve officials earlier this month agreed that smaller interest rate increases should happen soon as they evaluate the impact policy is having on the economy, meeting minutes released Wednesday indicated. Reflecting statements that multiple officials have made over the past several weeks, the meeting summary pointed to small rate hikes coming. Markets widely expect …

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Citigroup, Manchester United, Nordstrom, Tesla and more

Check out the companies making headlines in midday trading Wednesday: Citigroup — The stock dropped 2.3% after Citigroup was told it must addresses in its management of financial data by US banking regulators. Those regulatory groups said the issues could hinder its ability to produce correct reports during challenging times. related investing news Pro Picks: …

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Deere, HP, Nordstrom and others

Check out the companies making headlines before the bell: deere (DE) – The heavy equipment maker reported better-than-expected profit and revenue for its latest quarter and issued an upbeat outlook. Deere said it benefited from positive farm fundamentals and increased infrastructure investment. Its stock jumped 4.2% in premarket trading. HP Inc. (HPQ) – HP rose …

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5 things to know before the stock market opens Wednesday, November 23

The National Thanksgiving Turkey stands on the South Lawn of the White House in Washington, US, November 21, 2022. Evelyn Hockstein | Reuters Here are the most important news items that investors need to start their trading day: 1. All the trimmings It’s the day before Thanksgiving, so Americans are spending more attention on getting …

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‘Betrayed’: FTX meltdown signals end to crypto’s ‘Wild West’ days | Crypto

Boston, United States – FTX was one of the largest cryptocurrency exchanges in the world – until, earlier this month, it fell apart in a matter of days. In the wake of the collapse of Sam Bankman-Fried’s crypto empire, heightened governmental scrutiny and calls for greater regulation threaten to spell the end of the freewheeling, …

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5 things to know before the stock market opens Tuesday, November 22

Trader on the floor of the NYSE Source: NYSE Here are the most important news items that investors need to start their trading day: 1. For the birds There are still two more trading days until Thanksgiving, but things are already slowing down on Wall Street. Stocks slide during a low-volume session Monday as investors …

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Zoom, Dell, Urban Outfitters and more

Detail of a home office setup on a kitchen worktop, including a laptop computer with Zoom video conferencing software, taken on September 9, 2020. Phil Barker | Future Publishing | Getty Images Check out the companies making headlines in after-hours trading. Zoom – Shares of the pandemic darling slide 4.4% in extended trading Monday. Though …

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China signs 27-year gas deal with QatarEnergy to secure supply | Business and Economy News

QatarEnergy has signed a 27-year deal to supply China’s Sinopec with liquefied natural gas (LNG) in the longest such agreement to date, as volatility drives buyers to seek long-term supplies. Since Russia’s invasion of Ukraine in February, competition for LNG has become intense, with Europe, in particular, needing vast amounts to help replace Russian pipeline …

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Fed’s Mester wants more progress on inflation before ending interest rate hikes

Cleveland Federal Reserve President Loretta Mester said Monday inflation will need to show more signs of progress before she’s ready to stop advocating for interest rate increases. While acknowledging that recent data has been encouraging, the central bank official told CNBC that the progress is only a start. “We’re going to have more work to …

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