November 15, 20240 Comments

Europe’s flying taxi dreams falter as cash runs short

Volocopter The VoloCity made demonstration flights in Paris over the summer One of the innovations at this year’s Paris Olympics was supposed to be an electric flying taxi service. Germany’s Volocopter promised its electric-powered, two-seater aircraft, the VoloCity, would be ferrying passengers around the city. It never happened. Instead the company ran demonstration flights. While missing that deadline was embarrassing, behind the scenes a more serious issue was playing out

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November 15, 20240 Comments

Diamond Sports reaches key milestone toward exiting bankruptcy

Jose Siri, #26 of Major League Baseball’s Houston Astros, steals second base as Dansby Swanson, #7 of the Atlanta Braves, is unable to handle the throw from Travis d’Arnaud, #16, in the eighth inning during Game 3 of the 2021 World Series at Truist Park in Atlanta on Oct. 29, 2021. Daniel Shirey | Major League Baseball | Getty Images Diamond Sports moved closer to exiting bankruptcy on Thursday after

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November 15, 20240 Comments

Bank of England boss to say UK must ‘rebuild relations’ after Brexit

Getty Images The UK must “rebuild relations” with the EU “while respecting the decision of the British people” who voted to leave in 2016, the Bank of England’s governor has said. Andrew Bailey’s Mansion House speech to investors marked some of his strongest comments yet on Brexit, saying one of its consequences has been weaker trade. He has previously avoided commenting on the topic because of the Bank’s independence from

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November 15, 20240 Comments

Landry CEO Fertitta becomes Wynn Resorts’ largest individual shareholder

The new Wynn Casino and Lisboa Casino in Macao, China. Bob Henry | Universal Images Group | Getty Images Billionaire Tilman Fertitta has increased his ownership stake in Wynn Resorts to 9.9%, according to a filing with the U.S. Securities and Exchange Commission. The filing indicates a passive position, though multiple people familiar with the matter tell CNBC they suspect Fertitta will be demanding. Wynn’s share price popped 9% Thursday

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November 15, 20240 Comments

UK economy slows between July and September

The UK’s economy grew by 0.1% between July and September, according to the latest official figures. Growth was lower than expected and the Office for National Statistics said activity was subdued across most industries during the three months. Labour made boosting economic growth its top priority when it came into power but Chancellor Rachel Reeves said she was “not satisfied” with these latest figures. This week she announced plans to

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November 15, 20240 Comments

UK economy ekes out 0.1% growth, below expectations

Bank of England in the City of London on 6th November 2024 in London, United Kingdom. The City of London is a city, ceremonial county and local government district that contains the primary central business district CBD of London. The City of London is widely referred to simply as the City is also colloquially known as the Square Mile. (photo by Mike Kemp/In Pictures via Getty Images) Mike Kemp |

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November 15, 20240 Comments

Vaccine maker stocks fall as Trump chooses RFK Jr. to lead HHS

Robert F. Kennedy Jr. in Phoenix on Aug. 23, 2024. Thomas Machowicz | Reuters Shares of vaccine makers fell Thursday as President-elect Donald Trump nominated Robert F. Kennedy Jr., a prominent vaccine skeptic, to lead the Department of Health and Human Services.  The stocks fell in the final hour of trading as reports emerged about Trump’s expected pick. Moderna‘s stock closed more than 5% lower on Thursday, shares of Novavax

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November 15, 20240 Comments

US hacker sentenced over Bitcoin heist worth billions

A hacker has been sentenced to five years in a US prison for laundering the proceeds of one of the biggest ever cryptocurrency thefts. Ilya Lichtenstein pleaded guilty last year in the case involving the Bitfinex cryptocurrency exchange being hacked in 2016 and the theft of almost 120,000 bitcoin. He laundered the stolen cryptocurrency with the help of his wife Heather Morgan, who used the alias Razzlekhan to promote her

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November 15, 20240 Comments

Canada’s record economic gap with U.S. about to get wider

Breadcrumb Trail Links News Two economies headed in opposite directions Published Nov 14, 2024  •  Last updated 13 hours ago  •  4 minute read You can save this article by registering for free here. Or sign-in if you have an account. The election of Donald Trump threatens to widen that record economic gap between Canada and the United States, say economists. Photo by Getty Images Article content Canada’s economy has been

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November 14, 20240 Comments

Wholesale prices rose 0.2% in October, in line with expectations

Wholesale prices nudged higher in October, though largely in line with expectations and mostly consistent with the Federal Reserve cutting interest rates again in December, the Bureau of Labor Statistics reported Thursday. The producer price index, which measures what producers get for their products, increased a seasonally adjusted 0.2% for the month, up one-tenth of a percentage point from September though matching the Dow Jones consensus forecast. On a 12-month

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