November 14, 20240 Comments

Stocks Lose Steam as Rally Goes Too Far, Too Fast: Markets Wrap

(Bloomberg) — Stocks lost traction following a furious post-election rally that spurred calls for a pause amid signs of buyer fatigue. Most Read from Bloomberg Equities fell from near all-time highs, with the S&P 500 pushing away from technically overbought levels. That’s after a surge that drove the benchmark gauge up 25% this year. Several measures highlight “stretched” trader optimism, including the latest figures from the American Association of Individual

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November 14, 20240 Comments

Disney earnings offer hope that streaming can supplant linear TV

The Disney+ website on a laptop computer in the Brooklyn borough of New York, US, on Monday, July 18, 2022. Gabby Jones | Bloomberg | Getty Images Disney might be proving the world’s most famous investor wrong. Last year, Warren Buffett, “The Oracle of Omaha,” told CNBC’s Becky Quick he had no faith in the business of streaming video. “Streaming…it’s not really a very good business,” Buffett said on April

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November 14, 20240 Comments

Feds warn against bed rails, citing 18 deaths since 2021

The U.S. Consumer Product Safety Commission on Thursday issued an urgent warning about portable adult bed rails, saying the devices are behind the suffocation deaths of 18 people since 2021. The agency’s safety alert coincided with the ninth recall of portable bed rails in three years. Medical King of Brooklyn, New York, is recalling about 220,000 adult portable bed rails due to entrapment and asphyxia risks. The recall follows the

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November 14, 20240 Comments

Here’s why investors are so excited about Disney’s quarterly results

Disney is back. After several quarters of cutting costs and revamping its streaming business, CEO Robert Iger’s turnaround plans is paying off: On Thursday, the entertainment giant reported strong quarterly earnings and a robust outlook for the coming year. Revenue in the fiscal fourth quarter totaled $22.57 billion, topping the $22.45 billion expected by analysts, according to estimates compiled by LSEG. Adjusted earnings per share (EPS) jumped 39% year over

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November 14, 20240 Comments

Tech firms invest in sovereign AI to cut Europe dependence on US tech

LISBON, Portugal — Tech giants are increasingly investing in the development of so-called “sovereign” artificial intelligence models as they seek to boost competitiveness by focusing more on local infrastructure. Data sovereignty refers to the idea that people’s data should be stored on infrastructure within the country or continent they reside in. “Sovereign AI is a relatively new term that’s emerged in the last year or so,” Chris Gow, IT networking giant Cisco’s

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November 14, 20240 Comments

Burberry shares hit intraday high as overhaul strategy marks turning point

Shoppers walk past Burberry’s Shanghai store Kevin Lee | Getty Images LONDON — Burberry is aiming to win back shoppers and boost waning sales by refocusing on heritage designs and statement pieces under sweeping revamp plans designed to revive the luxury fashion house’s ailing fortunes. The “Burberry Forward” strategic overhaul, announced Thursday, intends to reconnect the brand with its “original purpose” while taking a more disciplined approach to product selection,

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November 14, 20240 Comments

Exclusive-Trump’s transition team aims to kill Biden EV tax credit By Reuters

By Jarrett Renshaw (Reuters) – President-elect Donald Trump’s transition team is planning to kill the $7,500 consumer tax credit for electric-vehicle purchases as part of broader tax-reform legislation, two sources with direct knowledge of the matter told Reuters. Ending the tax credit could have grave implications for an already stalling U.S. EV transition. And yet representatives of Tesla (NASDAQ:) – by far the nation’s largest EV seller – have told

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November 14, 20240 Comments

France stocks higher at close of trade; CAC 40 up 1.32% By Investing.com

Investing.com – France stocks were higher after the close on Thursday, as gains in the , and sectors led shares higher. At the close in Paris, the rose 1.32%, while the index climbed 1.33%. The best performers of the session on the were Kering SA (EPA:), which rose 3.97% or 8.45 points to trade at 221.15 at the close. Meanwhile, ArcelorMittal SA (AS:) added 3.93% or 0.89 points to end

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