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Market Roundup: Dollar slips as upbeat euro zone business activity data lifts euro,wall Street ends mixed, Gold eases, Oil falls $2/barrel on economic jitters, U.S. crude stock build

Jan 24, 2023 23:01 pm UTC| Market Roundups Economy

Market Roundup US Redbook (YoY) 4.6% ,5.0% previous US Jan SP Global Composite PMI 4.6%45.0 previous US Jan Services PMI 46.6, 45.0 forecast, 44.7, previous US Jan Manufacturing PMI 46.8, 46.0 forecast,46.2...

Ford Motor to layoff workers in Europe, moves some roles to the US

Jan 24, 2023 11:40 am UTC| Business Economy

Ford Motor Co. is revealed to be moving some of its job roles to the United States. But unfortunately, this will result in job cuts in Europe, and about 3,200 workers are set to be affected by the move. Ford Motor said...

Digital Currency Revolution

S. Korea approves issuance and distribution of security tokens

Jan 24, 2023 10:29 am UTC| Digital Currency Economy Business

South Koreas Financial Services Commission (FSC) will open an institutional market to enable the trading of blockchain-based security tokens. Security tokens are rights in a token format using blockchain...

Amazon launches its own Amazon Air cargo service in India

Jan 24, 2023 09:44 am UTC| Business Economy

Amazon Inc. announces the launch of its air cargo service in India as its online sales increase. The e-commerce firm started its full-time air cargo service, which it officially named Amazon Air, on Monday, Jan....

ASDA, EG Group reportedly considering £13B merger deal

Jan 24, 2023 09:39 am UTC| Business Economy

ASDA and EG Group are reportedly exploring a merger deal worth 13 billion. The British supermarket chain and retailer that also operate filling stations may team up to expand their businesses further in the U.K. The...

Nokia, Samsung ink 5G patent license agreement

Jan 24, 2023 09:06 am UTC| Business Economy

Nokia and Samsung Electronics Co. Ltd. have signed a deal for 5G patent licensing, and this was confirmed on Monday, Jan. 23. The Finnish telecom and IT company agreed to a multi-year agreement to grant Samsung a license...

Spotify to trim workforce by 6%, CEO announces

Jan 24, 2023 08:48 am UTC| Business Economy

Spotify, the Stockholm, Sweden-headquartered music streaming and media services company, is one of the largest streaming providers in the world, with more than 400 million monthly active users. However, it recently...

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Economy

Kevin Hassett Says Inflation Is Below Target, Backs Trump’s Call for Rate Cuts

White House economic advisor Kevin Hassett said President Donald Trump is correct in claiming inflation is low, despite official data, public sentiment, and many economists suggesting otherwise. Speaking on Fox Business,...

U.S. Stocks End Week Higher as Tech Rally Offsets Consumer Weakness

U.S. stocks closed higher on Friday, recovering from a volatile start to the week as gains in technology and AI-related shares outweighed sharp declines in consumer stocks such as Nike. Major indexes finished in positive...

EU Delays Mercosur Free Trade Agreement Signing Amid Ukraine War Funding Talks

The European Union has decided to delay the formal signing of its long-anticipated free trade agreement with the Mercosur bloc, as EU leaders convened in Brussels to prioritize discussions on funding Ukraines war effort....

Precious Metals Rally as Silver and Platinum Outperform on Rate Cut Bets

Gold prices edged slightly lower in Asian trading on Friday but were still on track to post modest weekly gains, as strong safe-haven demand continued to support the precious metals market. At the same time, silver and...

Oil Prices Steady in Asia but Headed for Weekly Loss on Supply Glut Concerns

Oil prices were mostly steady during Asian trading on Friday, but both major benchmarks were still on track to record a second consecutive weekly decline as persistent concerns over a global supply glut continued to...

Politics

Russian Missile Strike on Odesa Port Kills Seven, Disrupts Key Trade Routes

A Russian missile attack late on Friday struck critical port infrastructure near Ukraines Black Sea port city of Odesa, killing at least seven people and injuring 15 others, according to Ukrainian officials. The attack...

Trump Nominates Lt. Gen. Frank Donovan to Lead U.S. Southern Command Amid Rising Tensions in Latin America

U.S. President Donald Trump has nominated Lieutenant General Frank Donovan, the vice commander of U.S. Special Operations Command, to become the next head of U.S. Southern Command (SOUTHCOM), the military body responsible...

Brazil Court Allows Bolsonaro Hospital Trip Amid Prison Sentence

Brazils Supreme Court Justice Alexandre de Moraes has authorized former President Jair Bolsonaro to temporarily leave the Federal Police Superintendency in Brasília, where he is currently serving a 27-year prison...

U.S. Pushes New Gaza Governance Plan With International Force to Secure Ceasefire

U.S. Secretary of State Marco Rubio said the United States is moving quickly to establish a new governance framework for Gaza, signaling a major shift in post-war planning for the Palestinian enclave. Speaking at a...

U.S. Intelligence Warns Putin Still Seeks Full Control of Ukraine Despite Peace Talks

U.S. intelligence reports continue to warn that Russian President Vladimir Putin remains intent on capturing all of Ukraine and potentially reclaiming territory beyond its borders, according to multiple sources familiar...

Science

Jared Isaacman Confirmed as NASA Administrator, Becomes 15th Leader of U.S. Space Agency

The U.S. Senate has officially confirmed billionaire private astronaut Jared Isaacman as the new NASA administrator, making him the 15th leader in the agencys history. The confirmation, which took place on Wednesday, marks...

Senate Sets December 8 Vote on Trump’s NASA Nominee Jared Isaacman

The U.S. Senate Commerce Committee announced it will vote on December 8 on President Donald Trumps renewed nomination of private astronaut and tech entrepreneur Jared Isaacman to lead NASA. Isaacman, known for his...

NASA Cuts Boeing Starliner Missions as SpaceX Pulls Ahead

NASA has significantly scaled back Boeings Starliner program after years of technical issues and delays, announcing that the next Starliner mission to the International Space Station (ISS) will fly without astronauts. The...

Blue Origin’s New Glenn Achieves Breakthrough Success With First NASA Mission

Blue Origins massive New Glenn rocket marked a major milestone as it completed its first mission for paying customers, sending two NASA satellites toward Mars and successfully landing its reusable booster at sea. The...

Cogent Biosciences Soars 120% on Breakthrough Phase 3 Results for Bezuclastinib in GIST Treatment

Cogent Biosciences (NASDAQ: COGT) shares skyrocketed over 120% after the biotech company announced groundbreaking results from its Phase 3 PEAK trial evaluating bezuclastinib in combination with sunitinib for patients with...

Technology

U.S. Lawmakers Urge Pentagon to Blacklist More Chinese Tech Firms Over Military Ties

A group of nine Republican U.S. lawmakers has formally urged the Pentagon to expand its list of Chinese companies accused of supporting Chinas military, intensifying scrutiny of Beijing-linked technology firms amid rising...

Dina Powell McCormick Resigns From Meta Board After Eight Months, May Take Advisory Role

Dina Powell McCormick has resigned from Meta Platforms board of directors effective immediately, just eight months after joining the social media company, Meta confirmed on Friday. The unexpected departure comes at a time...

TikTok U.S. Deal Advances as ByteDance Signs Binding Joint Venture Agreement

TikTok has taken a major step toward securing its future in the United States after its Chinese parent company, ByteDance, announced it has signed binding agreements with three major investors to form a new joint venture...

Trump Administration Reviews Nvidia H200 Chip Sales to China, Marking Major Shift in U.S. AI Export Policy

The U.S. government under President Donald Trump has launched a formal review that could pave the way for the first-ever shipments of Nvidias H200 artificial intelligence chips to China, according to multiple sources...

Oracle Stock Surges After Hours on TikTok Deal Optimism and OpenAI Fundraising Buzz

Oracle Corporation (NYSE: ORCL) shares surged sharply in extended trading on Thursday, reflecting renewed investor optimism fueled by reports of a potential U.S. TikTok transaction and fresh fundraising discussions...