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Business News

Location American Business News for 12 December 2024

Sex Work the American Way

The New Yorker - 12 Dec 2024 01:00
Sex Work the American Way From the daily newsletter: sex work in America. Plus: remembering Nikki Giovanni; Kenneth Branagh's life in Shakespeare; and is Kash Patel the new J. Edgar Hoover?
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Gold Edges Higher as Fed Rate Cut Prospects Support

Wall Street Journal - 12 Dec 2024 02:13
Gold edged higher in the early Asian session, supported by ongoing prospects of a Fed rate cut next week.
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Nasdaq blocked from imposing board diversity rules for companies on exchange The appeals court sided with two conservative advocacy groups in finding that the rules approved by the Securities and Exchange Commission ran afoul of federal securities law.
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Jobless claims jump to two-month high in a cautionary sign, but holidays may be to blame Initial jobless claims rose by 17,000 to 242,000 in the week that ended Dec. 7, the Labor Department said Thursday. That's the highest level since mid-October.
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Muted wholesale inflation rate likely gives final go-ahead for Fed to cut interest rates A key measure of U.S. wholesale inflation posted a small increase in November and probably added the final nail in the coffin in favor of a widely expected reduction in interest rates next week.
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Bitcoin ATM Giant Byte Federal Suffers Data Breach: 58,000 Users Affected 58,000 users' personal data was potentially compromised in Byte Federal data breach. Byte Federal Suffers Data Breach Byte Federal, one of the largest bitcoin ATM providers in the U.S. has disclosed a data breach impacti...
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Tesla's stock keeps rising toward another record as valuation tops $1.3 trillion Tesla's stock rises six-day win streak to its first record close in three years, providing a $235.5 billion boost to its market cap in the process.
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China Pledges More Stimulus to Shore Up Flagging Economy

The New York Times - 12 Dec 2024 15:57
China Pledges More Stimulus to Shore Up Flagging Economy At a meeting to set the party's economic policy agenda, China's leadership said it would borrow more and cut interest rates in a bid to bolster growth.
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GameStop has 'virtually no chance' of returning to profitability in its core business, says Wedbush GameStop Corp. shares jumped following the video game retailer's third-quarter results this week, although analyst firm Wedbush thinks that a return to profitability in the company's core business is unlikely.
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Potential tariff hikes from the U.S. have caused some volatility in the yuan and raised speculation that China may devalue the currency to help exporters.
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Oil Rises; Focus on Fed, IEA Report

Wall Street Journal - 12 Dec 2024 03:36
Oil rose in early Asian trade. Oil has priced in a little geopolitical risk premium on the tightening of sanctions against Russia by the U.S. while prospects of a Fed rate cut may also be boosting market sentiment, ANZ R...
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JGBs Mixed Amid Possible Position Adjustments

Wall Street Journal - 12 Dec 2024 02:28
The JGBs were mixed in the morning Tokyo session amid possible position adjustments.
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Nikkei Up 1.4%, Led by Tech, Electronics Stocks

Wall Street Journal - 12 Dec 2024 02:16
Japanese stocks were higher, led by gains in tech and electronics stocks, as hopes continue for the Fed's rate cut next week.
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NYC prices rising faster than 12 other major US cities -- quickest pace since March 2023 If you feel like prices are calming down everywhere except New York - you're right.
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Basic Materials Roundup: Market Talk

Wall Street Journal - 12 Dec 2024 23:59
Basic Materials Roundup: Market Talk Find insight on steel production in India, Anglo American, BHP and more in the latest Market Talks covering basic materials.
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Waste Management Keeps Focus on Renewable Energy, CEO Says

Wall Street Journal - 12 Dec 2024 23:58
Waste Management Keeps Focus on Renewable Energy, CEO Says Waste Management remains committed to growing its renewable-energy business as it prepares for what Chief Executive Jim Fish sees as a big surge in demand for energy over the next decade.
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Financial Services Roundup: Market Talk

Wall Street Journal - 12 Dec 2024 23:58
Financial Services Roundup: Market Talk Find insight on the challenge for European banks, London Stock Exchange Group, Swiss insurers and more in the latest Market Talks covering financial services.
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Energy & Utilities Roundup: Market Talk

Wall Street Journal - 12 Dec 2024 23:56
Energy & Utilities Roundup: Market Talk Find insight on oil prices, Saipem, Pennon and more in the latest Market Talks covering energy and utilities.
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OpenAI now lets users video chat with ChatGPT in advanced voice mode, and the chatbot will respond to real-time images.
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Bill Belichick's shocking move to coach UNC shows how college teams are looking more like the pros Bill Belichick's move to coach at UNC highlights the shift of college sports toward professionalization with NIL opportunities and revenue sharing.
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The moment Luke Wilson knew 'Old School' would be a hit: 'There were kids high-fiving in the parking lot' Luke Wilson looks back on his most memorable movie roles, from "Idiocracy" and "The Royal Tenenbaums" to starring in "Bottle Rocket" with his brother Owen.
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Workers seeking to unionize accuse the bank of firing members of their proposed bargaining unit ahead of a scheduled vote. They still won their election.
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