November 9, 20240 Comments

Planet Fitness bids for bankrupt Blink Fitness

A Blink Fitness location in New York City. Bill Tompkins | Michael Ochs Archives | Getty Images Planet Fitness wants to acquire bankrupt budget fitness chain Blink Holdings, according to court filings viewed by CNBC. Planet Fitness previously lost out in a bankruptcy auction against U.K.-based, privately held fitness chain PureGym. Now the U.S. chain, with a public market valuation of roughly $6.8 billion, is making another attempt. Equinox Group-owned

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November 9, 20240 Comments

Moldova cleans up it act to attract foreign businesses

Luc Vocks Dutch entrepreneur Luc Vocks runs his business from Moldova The Eastern European country of Moldova is continuing efforts to attract overseas firms, as it tries to move past political uncertainty. “I went with a backpack, and set up a business,” says Dutch entrepreneur Luc Vocks, recalling how he moved to Moldova in 2007. Mr Vocks had first visited the former Soviet republic three years earlier, and recalls experiencing

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November 9, 20240 Comments

Ray Dalio concerned about America postelection: ‘Both candidates worry me’

Ray Dalio speaking with CNBC at the Future Investment Initiative in Riyadh, Saudi Arabia, on Oct. 30, 2024. CNBC A postelection America worries U.S. billionaire Ray Dalio, who called for reforms numerous times amid a political landscape rife with what he views as irreconcilable differences between both Democratic and Republican parties. Speaking at the Future Investment Initiative conference in Saudi Arabia on Wednesday, the founder of the investment firm Bridgewater Associates

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November 9, 20240 Comments

Mortgage rates surge on Trump victory, housing stocks to fall

President-elect Donald Trump’s victory spurred a rise in in the U.S. 10-year Treasury yield. Mortgage rates, which loosely follow the benchmark yield, are also climbing. The average rate on the 30-year fixed mortgage surged 9 basis points Wednesday to 7.13%, according to Mortgage News Daily. That is the highest rate since July 1 of this year, though not quite the surge some had expected. “The expectation among bond traders coming

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November 9, 20240 Comments

Australia plans social media ban for under-16s

Australia’s government says it will introduce “world-leading” legislation to ban children under 16 from social media. Prime Minister Anthony Albanese said the proposed laws, to be tabled in parliament next week, were aimed at mitigating the “harm” social media was inflicting on Australian children. “This one is for the mums and dads… They, like me, are worried sick about the safety of our kids online. I want Australian families to

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November 9, 20240 Comments

Sovereign debt is biggest risk to global growth in 2025: Saudi minister

RIYADH — National debt is a major threat to markets in the near future, Saudi Arabia’s finance minister said, expressing particular concern over lower income countries as well as what he described as rapidly growing global fragmentation. “I think globally, the serious, serious issue that we need to watch is sovereign debt issues, particularly in low-income countries and emerging economies that do not have the fiscal buffers to lean into

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November 9, 20240 Comments

‘Wicked’ marketing takes over retail ahead of theatrical debut

Cynthia Erivo and Ariana Grande star as Elphaba and Glinda in Universal’s “Wicked.” Universal “Barbie” painted the town pink in 2023, and now “Wicked” is upping the ante by adding a splash of green. Universal‘s theatrical retelling of the famed Broadway musical is creating buzz ahead of its Nov. 22 release with hundreds of merchandise offerings from dozens of retail partners. The green-and-pink barrage is part of Universal’s marketing strategy

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November 9, 20240 Comments

Former university students urged to for refunds

University graduates across the UK are being urged by a campaign group to check whether they are due a refund on their student loan repayment after it was revealed that nearly £200m was overpaid last year. Save the Student’s comments come after figures were published which show that hundreds of thousands of people currently paying off their loans are eligible for a share of £184m in refunds. It is easy

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November 9, 20240 Comments

Euro zone inflation, October 2024

Line-up of pumpkins in the Netherlands, on Oct. 27, 2024. Nurphoto | Nurphoto | Getty Images Inflation in the 20-nation euro zone rose to 2% in October, preliminary figures released by statistics agency Eurostat showed Thursday. Economists polled by Reuters had forecast a headline figure of 1.9%. The September headline reading was revised down to 1.7% from 1.8% on Oct. 17, below market expectations. The biggest upward pull in the

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November 9, 20240 Comments

Stellantis to indefinitely lay off 1,100 workers at Jeep plant in Ohio

A view of the Jeep Plant where United Auto Workers members are picketing on September 18, 2023 in Toledo, Ohio. Sarah Rice | Getty Images DETROIT — Automaker Stellantis announced plans Wednesday to cut a manufacturing shift and indefinitely lay off roughly 1,100 workers at a Jeep plant in Ohio. The company, which has been battling high inventory levels and lower earnings this year, said the decision at its Toledo

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