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Equities close lower as rise in yields overshadows earnings

US 10-year Treasury yield at highest since July 2008 Netflix jumps after reversing customer losses Procter & Gamble and Travelers post positive results PHLX housing index drops on weak US housing data Dow down 0.33%, S&P 500 down 0.67%, Nasdaq down 0.85% NEW YORK, Oct 19 (Reuters) – U.S. stocks posted a two-day winning streak …

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Goldman plans major reorganization to combine key units -source

LONDON/NEW YORK, October 16 (Reuters) – Goldman Sachs (GS.N) is planning a major reorganization to consolidate its largest businesses into three divisions, with its investment banking and trading businesses merged into a single unit, a source familiar with the matter told Reuters. The plans are expected to be announced Oct. 18 alongside Goldman’s third-quarter results. …

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Goldman Sachs sees deeper UK recession after tax U-turn

Oct 17 (Reuters) – Goldman Sachs has downgraded Britain’s economic outlook and warned of a deeper recession next year after Prime Minister Liz Truss sacked Kwasi Kwarteng last week. his chancellorship and abandoned parts of his unpopular economic program. The Wall Street bank has revised its forecast for UK economic output for 2023 to a …

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U.S. grocer Kroger carts away Albertsons for $25 bln but faces antitrust test

Oct 14 (Reuters) – Kroger Co (KR.N) acquired Albertsons Cos Inc. (ACI.N) in a $25 billion deal on Friday, creating an American grocery giant to better compete with leader Walmart Inc (WMT.N) on pricing while bracing for antitrust scrutiny. The mega merger between the No. 1 and No. 2 autonomous grocers in the United States …

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U.S. FCC set to ban approvals of new Huawei, ZTE equipment -document

WASHINGTON, Oct 13 (Reuters) – The U.S. Federal Communications Commission is set to ban the approval of new telecommunications equipment by Chinese companies Huawei Technologies and ZTE (000063.SZ) in the United States for national security reasons, according to an agency document. FCC President Jessica Rosenworcel last week circulated the draft ban to the other three …

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Google approves Trump’s Truth Social for Play Store

Oct 12 (Reuters) – Alphabet Inc. (GOOGL.O) Google has approved the distribution of former US President Donald Trump’s social media app, Truth Social, on the Google Play Store, a company spokesperson said on Wednesday. Trump Media & Technology Group (TMTG), which operates Truth Social, is expected to make the app available on the Play Store …

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Elon Musk sells $1 million worth of new perfume, ‘Burnt Hair’

Oct 12 (Reuters) – The world’s richest man, Elon Musk, has sniffed out a new opportunity to capitalize on quirky products, launching a fragrance called “Burnt Hair” which he says has sold 10,000 bottles for earn a million dollars in just a few hours. “With a name like mine, stepping into the perfume world was …

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Nasdaq jumps as easing Treasury yields lift growth stocks; Twitter surges

Twitter jumps on Musk news to resume buyout at $54.20/share Rivian jumps on the reaffirmation of the view of fiscal year deliveries; raises his peers US job openings post biggest drop in 2.5 years in August Indices up: Dow 2.42%, S&P 2.63%, Nasdaq 2.92% Oct 4 (Reuters) – The Nasdaq led Wall Street higher on …

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