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Richmond Federal Reserve President Thomas Barkin has shown an unwavering stance when it comes to changing his monetary policy outlook, despite the release of unexpectedly weak U.S. jobs data. He acknowledged that the job growth was weaker than what was forecasted by professional economists, but he remains cautious and refrains from prejudging meetings. This cautious
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Chevron experienced a disappointing midday trading session, with stock slipping more than 3% due to second-quarter earnings missing Wall Street estimates. This news caused concern among investors, as adjusted earnings per share were reported at $2.55, lower than the $2.93 per share that analysts had expected. Additionally, revenue came in slightly higher than expected at
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Google recently faced backlash over its Olympics ad for the chatbot Gemini, which depicted a little girl using artificial intelligence to write a fan letter. The ad, titled “Dear Sydney,” raised concerns about the promotion of automation over authenticity, especially when it comes to creative tasks involving children. Let’s delve deeper into the implications of
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The Bank of England made a historic decision to cut interest rates from a 16-year high in a tight 5-4 vote by its policymakers. This move was led by Governor Andrew Bailey, who emphasized the need for cautiousness in the face of uncertainty. The reduction of rates by a quarter-point to 5% marked the first
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Hershey’s stock saw a significant drop of 7% in premarket trading after the company’s second-quarter results fell short of analyst expectations. Despite earning $1.27 per share on revenue of $2.07 billion, the company missed the projected profit of $1.43 per share on revenue of $2.31 billion. This decline was attributed to consumers pulling back on
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Eli Lilly’s weight loss drug Zepbound has shown promising results in patients with a common type of heart failure and obesity, based on late-stage trial data released by the company. The findings suggest that Zepbound, along with other popular GLP-1 drugs, may have health benefits beyond weight loss and blood sugar regulation. This could potentially
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Moderna, a prominent biotech company, recently reported second-quarter revenue that exceeded expectations. However, the company decided to reduce its full-year sales guidance due to various factors such as lower expected sales in Europe, a competitive environment for respiratory vaccines in the U.S., and the potential for deferred international revenue into 2025. The company now anticipates
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