Philadelphia Federal Reserve President Patrick Harker on Thursday provided a strong endorsement to an interest rate cut on the way September. Speaking to CNBC from the Fed’s annual retreat in Jackson Hole, Wyoming, Harker gave …
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Business
July home sales break a four-month losing streak as supply rises nearly 20% over last year
by adminClosed sales of previously owned homes rose 1.3% in July compared with June to a seasonally adjusted, annualized rate of 3.95 million units, according to the National Association of Realtors. That was the first gain …
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Business
Walz’s family relied on Social Security when his father died. Many don’t know kids are eligible for benefits.
by adminMinnesota Gov. Tim Walz accepted the Democratic vice presidential nomination at the Democratic National Convention on Wednesday night. In his speech, Walz credited a particular source of support for helping to get his family to where they …
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Business
Paramount special committee extends Skydance ‘go shop’ period as it reviews Bronfman offer
by adminThe future of Paramount Global is still uncertain. Paramount’s special committee on Wednesday said it would extend by 15 days an agreed-upon “go shop” period of its merger agreement with Skydance as it reviews a competing offer from Edgar …
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There’s no room for price gouging in a ultra-competitive business like retail, Target CEO Brian Cornell said on Wednesday. In an interview on CNBC’s “Squawk Box,” the retail chief disputed campaign talking points accusing grocers of inflating …
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Federal Reserve officials at their July meeting moved closer to a long-awaited interest rate reduction, but stopped short while indicating that a September cut had grown increasingly probable, minutes released Wednesday showed. “The vast majority” of participants …
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DETROIT — Ford Motor is delaying production of a next-generation all-electric pickup truck at a new plant in Tennessee and canceling plans for a three-row electric SUV, the company said Wednesday. Instead, Ford said it will prioritize …
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Business
Cryptocurrency ‘pig butchering’ scam wrecks Kansas bank, sends ex-CEO to prison for 24 years
by adminThe former CEO of a small Kansas bank was sentenced to more than 24 years in prison for looting the bank of $47 million — which he sent to cryptocurrency wallets controlled by scammers who had duped him in …
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Business
U.S. added 818,000 fewer jobs than thought, adding to concerns about a slowing economy
by adminU.S. job gains over the 12 months ending in March were revised downward Wednesday by 818,000 — a significant revision that adds to recent concerns that the economy has been slowing. The change means that …
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Newly appointed Starbucks CEO Brian Niccol won’t be required to relocate to the company’s headquarters in Seattle when he joins the coffee giant next month. Instead, Starbucks says Niccol can live in his home in …