Groton Selected as Navy awards $642M contract boost for Virginia class submarine work
Groton, CT – General Dynamics Electric Boat Corp. has secured a $642.3 million contract modification to continue design and support work for the Navy’s Virginia class submarine program, the Pentagon announced. Contract…
Portugal eyes small budget surplus in 2024 despite slowing growth
By Sergio Goncalves LISBON (Reuters) – Portugal unveiled its draft 2024 budget on Tuesday, projecting a surplus of 0.2% of GDP despite a further economic slowdown to 1.5% from this year’s expected…
World Bank chief says Gaza conflict is economic shock ‘we don’t need’
By David Lawder MARRAKECH, Morocco (Reuters) – World Bank President Ajay Banga said on Tuesday that the Israel-Gaza conflict is an unnecessary global economic shock that will make it harder for central…
NY Fed finds mixed bag for consumer’s expected inflation path in September
By Michael S. Derby (Reuters) – Americans had a mixed take on the outlook for inflation last month, as they downgraded their views on their personal financial situations and predicted a big…
Fed’s Bostic sees no more U.S. rate hikes, no recession
By Ann Saphir (Reuters) – Atlanta Federal Reserve Bank President Raphael Bostic on Tuesday said the U.S. central bank need not raise borrowing costs any further, and sees no recession ahead even…
US wholesale inventories unrevised in August, sales jump
WASHINGTON (Reuters) – U.S. wholesale inventories fell for a sixth straight month in August, but the pace of decline slowed amid a surge in sales. The Commerce Department said on Tuesday that…
Truist in talks to sell insurance business for $10 billion – Semafor
(Reuters) -Truist Financial is in talks to sell its insurance brokerage unit to private equity firm Stone Point for about $10 billion, news website Semafor reported on Monday, citing people familiar with…
Spike in Treasury yields clouds Biden, Fed hopes for smooth return to normal
By Howard Schneider WASHINGTON (Reuters) – Even as the U.S. economy bounds along, rising interest rates on government bonds could threaten the plans of elected officials and central bankers who thought they…
AMD to acquire AI software startup in effort to catch Nvidia
By Max A. Cherney (Reuters) – AMD said on Tuesday it plans to buy an artificial intelligence startup called Nod.ai as part of an effort to bolster its software capabilities. In its…
PepsiCo aims to raise prices as steady demand spurs 2023 profit forecast lift
By Ananya Mariam Rajesh (Reuters) -PepsiCo Inc said on Tuesday it planned “modest” price hikes next year as demand held up despite multiple increases that prompted the snacks and beverages giant to…
Fed’s Perli says balance sheet run down still has a ways to go
By Michael S. Derby (Reuters) -The Federal Reserve is not close to the point where it will need to slow or stop its balance sheet wind down process, and it remains unclear…
These tips can help Gen Z avoid online financial scams
By Chris Taylor When you think of those most likely to get scammed online, what kind of person comes to mind? You might automatically think of Baby Boomers, many of whom are…
IMF says global economy ‘limping along’, cuts growth forecast for China, euro zone
By Andrea Shalal MARRAKECH, Morocco (Reuters) -The International Monetary Fund on Tuesday cut its growth forecasts for China and the euro zone and said overall global growth remained low and uneven despite…
Factbox-How Ireland’s new sovereign wealth fund will work
DUBLIN (Reuters) – Ireland detailed on Tuesday how it plans to turn some of Europe’s healthiest public finances into a 100 billion-euro($106 billion) sovereign wealth fund to ease future healthcare, pension and…
IMAX’s buyout proposal of China unit falls through
(Reuters) – IMAX China said on Tuesday that its shareholders have rejected a proposal of its U.S.-based parent to buy the remaining stake in the Hong Kong-listed company for about $124 million.…
Door maker PGT rebuffs $1.9 billion offer from Koch-backed Miter-sources
By David Carnevali and Anirban Sen NEW YORK (Reuters) – PGT Innovations Inc, a U.S. maker of vinyl and aluminum doors and windows, rebuffed a $1.9 billion acquisition offer from Miter Brands,…
Egypt’s inflation quickens to record 38% in September
CAIRO (Reuters) -Egypt’s annual urban consumer price inflation rose to a historic high of 38.0% in September, climbing from 37.4% in August and topping analyst expectations, data from statistics agency CAPMAS showed…
Explainer-Why is Ireland launching a sovereign wealth fund?
DUBLIN (Reuters) – Ireland detailed on Tuesday how it intends to turn some of the healthiest public finances in Europe into a 100 billion euro sovereign wealth fund to ease future healthcare,…
Brazil’s consumer prices forecast to have risen faster in Sept – Reuters poll
By Gabriel Burin (Reuters) – Brazil’s consumer prices likely rose faster in September, led by hikes in gasoline costs that should have brought annual inflation to the highest rate in seven months,…
IMF says ‘weak tail’ of banks could struggle in an economic downturn
By Pete Schroeder and Elisa Martinuzzi WASHINGTON (Reuters) -Around 5% of banks globally are vulnerable to stress if central bank interest rates remain higher for longer, despite the easing of turmoil in…
IMF leaves global 2023 economic growth outlook unchanged
(Reuters) – The International Monetary Fund on Tuesday left its global growth outlook unchanged for this year as the “remarkable strength” of the U.S. economy counterbalanced weaker forecasts for China and the…
Bank of England to review how it stress tests banks
By Huw Jones LONDON (Reuters) – Britain’s banking system is well capitalised to withstand shocks the Bank of England said on Tuesday, adding that next year’s annual health check of major lenders…
There are Spiders on Donuts at Dunkin Across New Jersey
PHILADELPHIA, PA – Dunkin Donuts in the tri-state area are warning customers today. You’re going to find some spiders on donuts for the next few weeks. Dunkin’ is set to delight its…
Imperative for Italy to control public spending, economy minister says
By Giuseppe Fonte ROME (Reuters) – Italy’s economy minister said on Tuesday strict control of public spending was essential as the European Union prepares to restore tough fiscal rules next year that…
Deutsche Bank strategists recommend equity overweight into 2024
LONDON (Reuters) – Strategists at Deutsche Bank have recommended an overweight in equities into 2024, as risks are now well reflected in the market and those are about to turn into opportunities.…
The Future of Brick-and-Mortar Casinos in the Age of Online Gambling: A New Jersey Perspective
The glittering casinos that line the Atlantic City boardwalk have long been a symbol of New Jersey’s rich gambling heritage. But with the meteoric rise of online gambling, there’s been a growing…
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