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Economy

“Loonie Surges After Canada Job Gains Blow Past Expectations”

“…The country added 90,000 jobs in April, driven by part-time positions, while the unemployment rate held steady at 6.1%, Statistics Canada reported Friday in Ottawa. The figures beat expectations for a gain of 20,000 positions and a jobless rate of… Continue Reading…

Business

“Netflix blows past earnings estimates as subscribers jump 16%”

“LOS ANGELES — Netflix will no longer provide quarterly membership numbers or average revenue per user starting next year, the company said Thursday as it reported earnings that beat on the top and bottom lines. Total memberships rose 16% in the first quarter, reaching 269.6… Continue Reading…

Business, Stocks

“Gap shares pop as company’s holiday earnings blow past estimates, Old Navy returns to growth”

“Gap’s largest banner Old Navy returned to growth for the first time in more than a year during its holiday quarter as the retailer delivered earnings on Thursday that came in well ahead of Wall Street’s expectations.  Sales at Old Navy… Continue Reading…

Banking, Business

“NYCB says it lost 7% of deposits in the past month, slashes dividend to 1 cent”

“New York Community Bank said Thursday it lost 7% of its deposits in the turbulent month before announcing a $1 billion-plus capital injection from investors led by former Treasury Secretary Steven Mnuchin’s Liberty Strategic Capital. The bank had $77.2 billion in deposits as… Continue Reading…

Cryptocurrencies

“Solana Is Up Almost 2,700% in the Past 3 Years. Is It the PayPal of the Future?”

“Although Solana (CRYPTO: SOL) currently sits 67% below its all-time high, which was set in November 2021, this cryptocurrency has still skyrocketed 2,700% in the last three years. That gain crushes the rise of the Nasdaq Composite Index… About two years ago, Solana Pay… Continue Reading…

Business, Stocks

“Abercrombie & Fitch shares soar more than 15% as retailer blows past earnings estimates, raises guidance”

“…Here’s how the retailer did in the fiscal second quarter ended July 29 compared with what Wall Street expected, based on a survey of analysts by Refinitiv: Shares jumped more than 15% in early trading Wednesday. Net income for the… Continue Reading…

Economy

“Yuan Slides Past Seven in New Warning Sign for China’s Economy”

“The yuan slid past the key level of 7 per dollar for the first time this year in a further sign the recovery of the world’s second-largest economy from its Covid restrictions is grinding to a halt. The currency weakened… Continue Reading…

Economy

“Inflation rises 7% over the past year, highest since 1982”

“…The consumer price index, a gauge that measures costs across dozens of items, increased 7%, according to the department’s Bureau of Labor Statistics. On a monthly basis, CPI increased 0.5%. Economists surveyed by Dow Jones had been expecting the measure to… Continue Reading…

Energy

“Short interest in energy stocks increased in the past month”

“Investors increased their bearish bets in the energy sector in the past month, as a decline in crude oil prices led to broad weakness in the sector. Based on the most recent exchange data, the median industry short interest, or… Continue Reading…