Tag: business news

2024-10-10

DOJ indicates it’s considering Google breakup following monopoly ruling

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Business

The Department of Justice late Tuesday made recommendations for Google’s search engine business practices, indicating that it was considering a possible breakup of the tech giant as an antitrust remedy. The remedies necessary to “prevent and restrain monopoly maintenance could include contract requirements and prohibitions; non-discrimination product requirements; data and interoperability requirements; and structural requirements,” the department said in…

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2024-10-10

Automaker expects 2025 earnings to be similar to 2024

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Business

New GMC trucks are displayed on the sales lot at Hanlees Hilltop GMC in Richmond, California, July 2, 2024. Justin Sullivan | Getty Images DETROIT — General Motors expects its 2025 adjusted earnings to be in a “similar range” to the company’s results this year, CFO Paul Jacobson said Tuesday during the company’s investor day. The Detroit automaker’s targeted…

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2024-10-09

Economic tailwinds boost Kamala Harris in election homestretch, economists say

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Business

The surprisingly positive jobs report Friday has reinforced growing optimism about the U.S. economy, less than a month before the end of an extremely close presidential race between Vice President Kamala Harris and former President Donald Trump, and while voters say the economy is a top priority. Nonfarm payrolls added 254,000 jobs in September, while the unemployment rate fell…

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2024-10-09

GM ditching ‘Ultium’ name for batteries, tech amid EV changes

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Business

General Motors revealed its all-new modular platform and battery system, Ultium, on March 4, 2020 at its Tech Center campus in Warren, Michigan. Photo by Steve Fecht for General Motors DETROIT — General Motors will drop the name “Ultium” for its electric vehicle batteries and supporting technologies after spending years promoting the brand as it rethinks its EV and…

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2024-10-09

Walmart opens five more veterinary and pet grooming centers

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Business

Walmart is opening five more pet services centers after testing the first location near Atlanta. The centers offer vet visits and grooming. Courtesy: Walmart Walmart shut its doctor offices for people. But the nation’s largest retailer is expanding its pet care business. On Tuesday, the company announced it will open five more pet services centers in October and early…

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2024-10-09

Prices fall as recent rally takes a breather

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Business

Crude oil futures fell more than 4% on Tuesday as the rally spurred by heightened geopolitical risk paused while the market waits for Israel to strike back against Iran. “Oil can keep ascending only for so long, purely based on perceptions and not actual supply disruption,” Tamas Varga, an analyst at oil broker PVM, said in a Tuesday note….

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2024-10-08

Florida Gulf Coast braces for Hurricane Milton

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Business

A map showing the projected path of Hurricane Milton on Oct. 8th, 2024. Source: NOAA Hurricane Milton strengthened as it churned through the Gulf of Mexico toward Florida on Tuesday and could wallop one of the state’s major population centers with huge storm surges, lashing rain and destructive winds just two weeks after deadly Hurricane Helene swamped the coastline….

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2024-10-08

Super Micro soars after company says shipping over 100,000 AI GPUs

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Business

Super Micro CEO Charles Liang. Source: Supermicro Super Micro Computer shares jumped 15% after the server company said it’s shipping more than 100,000 graphics processing units used for artificial intelligence per quarter. That could translate into several billions of dollars of orders if the average price of a GPU is around the cost of Nvidia‘s $30,000 chip. The GPU…

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2024-10-08

10-year Treasury yield rebounds back above 4%

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Business

The 10-year Treasury yield, a benchmark for mortgages and car loans, jumped back above 4% on Monday amid stronger labor market readings and despite the start of a Federal Reserve rate-cutting campaign last month. The 10-year yield was up more than 4 basis points to 4.024%, its highest since early August and a big turnaround from its 2024 low…

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