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Economy

“Japan’s yen hits 34-year-low, heating talk of intervention”

“The yen hit a 34-year-low on Wednesday, weakening as much as 151.97 against the U.S. dollar and fueling market questions over potential government intervention to prop the Japanese currency. The yen was last at 151.22 against the dollar at 10:19 a.m. London time… Continue Reading…

Economy

“Consumer prices rose 0.4% in February and 3.2% from a year ago”

“… …” https://www.cnbc.com/2024/03/12/cpi-inflation-report-february-2024-.html

Business

“Best Buy warns of layoffs as it issues soft full-year guidance”

“…the retailer warned of another year of softer sales and said it would lay off workers and cut other costs across the business. CEO Corie Barry offered few specifics, but said the company has to make sure its workforce and… Continue Reading…

Economy

“Key Fed inflation measure rose 0.4% in January as expected, up 2.8% from a year ago”

“… …” https://www.cnbc.com/2024/02/29/pce-inflation-january-2023-.html Inflation is up and unfortunately its going to get worse. Banks are going to have some major problems in March. This doesn’t bode well for the economy.

Economy

“Tax evasion by millionaires and billionaires tops $150 billion a year, says IRS chief”

“The nation’s millionaires and billionaires are evading more than $150 billion a year in taxes, adding to growing government deficits and creating a “lack of fairness” in the tax system, according to the head of the Internal Revenue Service…” https://www.cnbc.com/2024/02/22/tax-evasion-by-wealthiest-americans-tops-150-billion-a-year-irs.html… Continue Reading…

Business, Stocks

“This Generative Artificial Intelligence (AI) Growth Stock Has Jumped 86% in a Year. Here’s Why It Can Skyrocket Another 73%.”

“Cybersecurity specialist SentinelOne (NYSE: S) has delivered remarkable gains of 86% in the past year… Assuming SentinelOne does hit $1 billion in revenue in fiscal 2026 and maintains its current sales multiple of 15, its market capitalization could increase to $15 billion. That… Continue Reading…

Banking

“Big banks have drastically cut overdraft fees, but customers still paid $2.2 billion last year”

“… …” https://www.cnbc.com/2024/02/09/jpmorgan-chase-wells-fargo-cut-overdraft-revenue-to-2-billion-in-2023.html

Economy

“US Trade Deficit Narrowed Last Year by the Most Since 2009”

“The annual trade shortfall shrank nearly 19% to $773.4 billion from a record in 2022, Commerce Department data showed Wednesday. In December, the deficit in goods and services trade widened slightly from the prior month to $62.2 billion. The figures… Continue Reading…

Stocks

“BP earns $3 billion at the end of last year but saw its annual profit fall by half from 2022”

“Oil and natural gas giant BP beat expectations on Tuesday with earnings of $3 billion in the last three months of 2023, bringing last year’s total to half its record 2022 profit as energy prices have fallen since spiking after Russia’s invasion… Continue Reading…

Business, Economy

“Critical chip firm ASML posts 30% surge in full-year revenue but signals slowdown in 2024”

“…ASML reported 27.6 billion euros in revenue for 2023, higher than the 21.2 billion euros of the year before. That was a 30% year-on-year rise. Shares of ASML provisionally ended up 9.7%… The Dutch government, following U.S. pressure, introduced curbs in… Continue Reading…