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Business News

Location American Business News for 25 August 2023
A new cap on the price of each unit of energy will be announced later by regulator Ofgem.
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Fox News prominently featured the "Rich Men North of Richmond" song at the beginning of the first GOP presidential debate on Wednesday.
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What is the energy price cap – and how will it affect my bills? Household bills are dominating the headlines again after regulator Ofgem announced the latest energy price cap.
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BRICS Leaders Declare Importance of Using Local Currencies in International Trade The BRICS leaders stress "the importance of encouraging the use of local currencies in international trade and financial transactions” in their declaration released at the conclusion of their 15th annual summit. In add...
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BRICS Invites 6 Countries to Join, Including Saudi Arabia, UAE, Iran The BRICS economic bloc has invited six countries to become new members: Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates. The BRICS leaders wrapped up their 15th annual summit on Thursday. "W...
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Disney, Amazon reportedly in talks about ESPN streaming partnership ESPN is considering charging between $20 and $35 amonth for the new streaming service, which could make it the most expensive streaming service in the US, the report added.
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SEC Charges Former US Correctional Officer With Fraudulent Crypto Token Sale The U.S. Securities and Exchange Commission said on Aug. 23 that it had charged a former New Jersey correctional officer “with fraudulently raising funds through the unregistered offering of the blazar token.” The Co...
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Fed rate hikes don't just fight inflation. They hurt economy over long-term, study says Federal Reserve rate hikes hamper economy in the long run by reducing innovation, says a paper presented at a Fed conference in Jackson Hole, Wyoming      
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Bankruptcy 'Most Plausible' Outcome For Hawaiian Electric As Stock Slides And Allegations Over Maui Fire Grow, Wells Fargo Says Shares of Hawaiian Electric tanked 75% this month as credit rating downgrades and lawsuits piled up.
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Markets Give Up Gains Despite Strong Nvidia Earnings Shares of Nvidia, which were the initial catalyst to the strong start Thursday, closed at just under $472, after having traded as high as $502.
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Failed merger and federal investigation weigh on TD's earnings After terminating a $13.4 billion acquisition of First Horizon in May, TD Bank disclosed a federal investigation of its anti-money laundering controls during the bank's third-quarter earnings.
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PEPE plunges 15% as strange token movements spark fears of rug pull The price of Pepe has plummeted 15% after developers sent nearly 4% of the memecoin's total supply to exchanges without warning.
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Is Wells Fargo down? Bank confirms 'intermittent issues' with some transactions Wells Fargo customers reported various issues with the bank's platform Thursday afternoon, with some noting issues with credit cards and Zelle.      
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There's A Good Reason Ukraine Also Wants Swedish Gripen Fighters: They Can Fly From Roads Roadway ops mitigate one of the big weaknesses of modern warplanes: their air bases. There's no way to hide a 5,000-acre air base with a 10,000-foot runway.
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Wired vs. wireless gaming headsets: Pros and cons explained Wireless gaming headsets offer great features and convenience for a higher price, but wired headsets aren't outdated just yet.
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Here are some of the major companies whose stocks moved on the week's news.
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Instacart pointed to its increasing "batch rate" as one of the improvements it made as it booked a profit in 2022.
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T-Mobile to lay off 5,000 people nationwide, after Sprint merger promised more jobs T-Mobile's CEO revealed the layoffs in an email to employees on Thursday. Cuts are primarily corporate, back-office and tech roles.      
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Mega Millions $1 million ticket unclaimed in Iowa; Individual has two weeks before it expires Mega Millions lottery players in Iowa should look through their drawers to see if they brought a ticket last year because a $1M ticket remains unclaimed.      
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It's oh-fish-al: Sardines are NYC's new 'It food' with nearly 1 billion TikTok views to prove it TikTok's tinned fish trend has caught on; #Sardine and #Sardines have a combined 831 million views just as an acclaimed sardine purveyor opens its flagship in NYC.
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It's the return of the tech IPO. Instacart says it's profitable — and this may be the necessary secret ingredient for a hot market debut in 2023. Instacart and Klaviyo filed to go public. Both say they're profitable, and that may be key for other startups hoping for an IPO.
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New York Yankees Can Recover From Disastrous 2023 Season Through Development The New York Yankees can recover from a disastrous 2023 season provided they make a renewed commitment to player development with an emphasis on collaboration.
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