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Business News

Location American Business News for 2 May 2024
Boosting visits from international travelers is crucial to the overall strength of L.A.'s tourism industry. Foreign travelers tend to stay longer and spend more.
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Taylor Swift, Adele, and Bad Bunny's music returning to TikTok, thanks to a new UMG deal The UMG artists' music returns to the popular platform after a monthslong dispute. Artists from Universal Music Group, which include Taylor Swift, Drake, Adele, Bad Bunny and Billie Eilish, will be returning to TikTok as...
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In an unprecedented move, Trump Media asks Congress to investigate 8 firms for short selling its stock Despite the company's high valuation and low revenue, Trump Media is asking House Republicans to go after short sellers. Investors in Trump Media could use some Dramamine. The holding company of Donald Trump's Truth Soci...
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Imec.xpand, a chip and nanotech-focused venture capital fund, announced the launch of a new $320 million fund today.
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Peloton's CEO steps down as the company cuts 15% of staff

Business Insider - 2 May 2024 13:38
Peloton's CEO steps down as the company cuts 15% of staff Peloton CEO Barry McCarthy is stepping down, the fitness company announced on Thursday.
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MongoDB moves Atlas Vector Search on Knowledge Bases for Amazon Bedrock into general availability, helping train LLMs with proprietary data.
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UK interest rates should stay high until inflation eases further, OECD says One of the world's leading economic authorities has warned the UK that borrowing should remain expensive until the rate of price rises eases further and stays there.
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25,000 people begin taking Wegovy each week, but Novo Nordisk stock is sinking anyway While sales of the blockbuster drug nearly doubled, the results still fell short of analysts' expectations as the company faces competition from Eli Lilly. Danish drugmaker Novo Nordisk, the creator of Ozempic and Wegovy...
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Crypto for Advisors: Digital Asset Custody's Future Once they reach a certain level of sophistication, there's a clear trend for Web3 asset holders to transition their digital asset wealth to self-custody.
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Sony, Apollo Make $26 Billion All-Cash Offer for Paramount

Wall Street Journal - 2 May 2024 22:28
Sony, Apollo Make $26 Billion All-Cash Offer for Paramount Sony Pictures and Apollo Global Management have submitted an all-cash, $26 billion offer for Paramount Global, marking the second time the private-equity firm has come in with a bid for the entertainment giant.
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Block's stock shoots higher as Square parent boosts its earnings outlook Also contributing was momentum across the company's two main business areas, the Cash App mobile wallet and the Square merchant business.
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Getting up in Your Grill: Ace Hardware Debuts Private Label BBQ Sauce and Apparel Lines Building on its reputation as a destination for outdoor grilling, Ace Hardware has launched the private label Loud Mouth Barbeque line of sauces and rubs -- its first edible product offerings. The sauces are priced for a...
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Shell to focus on share buybacks to boost stock over New York listing, CEO Wael Sawan says Shell committed to a $3.5 billion share-buyback program after it beat expectations.
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Cloudflare's stock is tanking after revenue outlook disappoints investors Cloudflare Inc.'s stock was free-falling in extended trading Thursday, following a quarterly report that was largely in line with analyst estimates but included a revenue outlook that fell short.
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We're reading: How Facebook's AI 'Shrimp Jesus' is creating a zombie internet Bizzarro AI images have turned parts of Facebook into a sometimes strange place, 404 Media reports. Why isn't Meta doing anything about it?
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Latina restaurant owners showcased their culinary skills at a Latin food festival in Jersey. Their dishes included empanadas, alcapurrias, and crepes.
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"The consumer is price weary," McDonald's CFO Ian Borden told analysts, adding diners were "certainly" visiting fast-food restaurants less frequently.
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Milan said it would ban ice cream on the streets after midnight. After a fierce backlash, it backed down. Milan wanted to ban the late-night sale of food and drink in its noisiest districts, but residents pushed back over the loss of a cherished tradition.
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The US spent so much time fighting insurgents that it forgot 'what it means to actually fight a war,' a US vet in Ukraine says A US veteran in Ukraine said the US has not been sufficiently training for war with a near-peer or peer-level adversary, like Russia or China.
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The Hollywood box office is slumping. 'The Fall Guy' could change that. Thanks to the WGA and SAG strikes, summer movie season is getting a new kickoff after roughly 17 years of Marvel movies.
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Universal signs TikTok deal allowing artists back on platform Music giant pulled content amid row over issues such as deepfake AI-generated music and artists' compensation TikTok and Universal Music Group have reached a deal that will allow songs and artists from its labels includi...
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Washed Out is the first major music artist to commission a music video using OpenAI's Sora text-to-video technology.
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