Business

October inflation report expected to show consumer prices rising further

Northwestern Mutual Wealth Management chief investment strategist Brent Schutte and Raymond James Washington policy analyst Ed Mills discuss the directions the market will take after the midterm elections on “The Claman Countdown.” A high-stakes inflation report due Thursday should show that the fight to rein in stubbornly high consumer prices still has a long way …

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Crypto giant Binance drops bid to save rival, fueling chaos in digital assets

New York CNN Business — In a sharp reversal, cryptocurrency exchange Binance pulled out of a deal to acquire embattled rival FTX, saying the company’s issues were “outside our control or our ability to help”. Binance, the world’s largest crypto exchange, said it reviewed FTX’s finances as part of the due diligence process, and it …

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Exclusive: Behind the fall of FTX, the fight against billionaires and a failed attempt to save crypto

November 10 (Reuters) – (This story contains language that some readers may find offensive in paragraph 2) On Tuesday morning, Sam Bankman-Fried, owner of cryptocurrency exchange FTX, caught his employees off guard with a grim message. “I’m sorry, he told them. I screwed up.” The reason for the mea culpa: its announcement half an hour …

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Rivian has both good and bad news at the end of a difficult day for electric vehicle stocks

New York CNN Business — Electric truck maker Rivian delivered a mixed bag to investors in its third-quarter earnings report, after a brutal day for its shares and those of other electric vehicle makers. On the one hand, Rivian reported a lower-than-expected adjusted loss of $1.4 billion, less than the $1.7 billion loss forecast by …

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After tortured run with weak PARP player and fast-draining cash, Clovis reports probable bankruptcy and cuts 115 employees – Endpoints News

Sanofi has signed an agreement with AI pharmaceutical company Insilico, marking Big Pharma’s third major AI drug deal this year. The deal is for up to six undisclosed targets, the duo announced this morning. Sanofi will pay $21.5 million up front, and downstream milestones could be up to $1.2 billion, according to Sanofi. “This collaboration …

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Opinion: Tesla investors were the biggest losers from Elon Musk’s Twitter deal, and those losses continue

Twitter users have complained a lot about Elon Musk’s early moves after taking over the social network, but their complaints seem small compared to what Tesla Inc. investors had to suffer. As the United States focused on election returns on Tuesday night, Tesla TSLA, -7.17% Chief Executive Musk tried to push through the disclosure of …

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Apple will take years to diversify from Chinese factories: Counterpoint

A display of iPhone 14 smartphones at Apple Inc. Regent Street store in London, UK. Bloomberg | Bloomberg | Getty Images Apple will take years to diversify from its Chinese factories, even as the country pursues its zero Covid policy that is hurting iPhone production, according to Jeff Fieldhack of Counterpoint Research. “It will take …

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Adidas to sell Yeezy products with different names after Kanye ‘Ye’ West fallout

Find out what clicks on FoxBusiness.com Adidas plans to keep the Yeezy brand alive…just under a different name. Kanye West, now known as Ye, and Adidas are no longer together, the retail giant announced on October 29. 25 that they ended their partnership following his recent anti-Semitic remarks. “Adidas does not tolerate anti-Semitism and any …

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Cramer warns growth stocks could see ‘more horror’ after CPI release

CNBC’s Jim Cramer warned on Wednesday that growth stocks could take another hit if October’s consumer price index reading shows inflation is still rampant. “If we get a scorching CPI reading, you’ll see more horror on your screen, which is why people sold before,” he said. The CPI measures the prices of a basket of …

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