Year: 2023
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Affirm extends rally on Cyber Monday boost as BNPL lending surges
By Medha Singh, Chibuike Oguh and Hannah Lang (Reuters) -Shares of “buy now, pay later” provider Affirm Holdings extended a rally on Tuesday following a rating upgrade and data showing that more price-conscious shoppers turned to BNPL services to fund Cyber Monday purchases. Record sales of $12.4 billion on one of the country’s busiest shopping…
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US Senator says deal in works to resolve FAA pilot training dispute
By David Shepardson WASHINGTON (Reuters) -Republican Senator John Thune said on Tuesday a deal is in the works to resolve a months-long standoff over pilot training requirements that has stalled a major aviation reform bill. The U.S. House of Representatives in July voted to pass legislation to raise the mandatory commercial pilot retirement age to…
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One of the Hottest New Year Trades May Soon be a Strong Short
Planet Fitness (PLNT) has been explosive as we head into the holidays. But that’s no surprise. For the last several years, the stock tends to take off around the holidays. It’s even starting to do so again now after plummeting. We saw it take off in late 2020, in late 2021, and again in late…
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Meta says it will appeal US judge’s ruling in privacy fight with FTC
WASHINGTON (Reuters) -Meta Platforms, which owns WhatsApp, Instagram and Facebook, said on Tuesday it would appeal a judge’s ruling that a U.S. regulator can seek to reduce the amount of money the social media company makes from users under 18. Judge Timothy Kelly of the U.S. District Court for the District of Columbia denied a…
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Chile mining body says new lithium projects needed beyond SQM, Albemarle
By Daina Beth Solomon and Fabian Cambero SANTIAGO (Reuters) – The head of one of Chile’s top mining associations on Tuesday urged the government to speed up efforts to expand the lithium industry without waiting to hammer out deals with miners SQM and Albemarle as it seeks to boost state control. Chile’s government under President…
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Dwindling copper supply from Panama and Peru could wipe out global surplus in 2024
By Polina Devitt LONDON (Reuters) – Reduced supply from major copper producers Panama and Peru may flip the global copper market into a deficit from surplus in 2024 or at least tighten oversupply if the disruptions are not resolved in coming months, analysts said on Tuesday. Panama’s top court on Tuesday ruled that Canadian miner…
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Deal-hunters on track to spend record $12 billion in US Cyber Monday shopping spree
By Ananya Mariam Rajesh, Deborah Mary Sophia and Siddharth Cavale (Reuters) – Spending online on Cyber Monday is set to exceed $12 billion, a record, as bargain hunters snap up deals on items including Barbie dolls, Lego sets, headphones and smart watches, according to preliminary estimates from Adobe Digital Insights. The estimate projects U.S. shoppers…
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Wall St ends lower amid Cyber Monday madness
By Stephen Culp NEW YORK (Reuters) -U.S. stocks edged lower on Monday, with investors taking a post-Thanksgiving pause as the holiday shopping season kicked in to high gear and retailers lured bargain hunters with Cyber Monday deals. All three major U.S. stock indexes ended the session modestly in the red. “Markets are taking a breather…
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Oil falls, Brent settles below $80 ahead of OPEC+ meeting
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices fell on Monday, with the Brent benchmark dipping below $80 a barrel as investors awaited this week’s OPEC+ meeting and expected curbs on supplies into 2024. Brent crude futures were down 60 cents, or 0.7%, at $79.98 a barrel. U.S. West Texas Intermediate (WTI) crude futures lost 68…
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Higher mortgage rates weigh on US new home sales in October
By Lucia Mutikani WASHINGTON (Reuters) – Sales of new U.S. single-family homes fell more than expected in October as higher mortgage rates squeezed out buyers even as builders cut prices, but the setback is likely temporary amid a persistent shortage of previously owned houses on the market. The decline in sales reported by the Commerce…