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‘There is a slowdown happening’ – Wells Fargo, BofA CEOs point to cooling consumer amid Fed hikes

Created: Wed, 07 Dec 2022 18:21:00 GMT

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The bank leaders are providing evidence that the Fed's campaign to subdue inflation by raising borrowing costs is beginning to impact consumer behavior. Read more: ‘There is a slowdown happening’ – Wells Fargo, BofA CEOs point to cooling consumer amid Fed hikes

Carvana shares tank as bankruptcy concerns grow for used car retailer

Created: Wed, 07 Dec 2022 19:25:53 GMT

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Shares of Carvana plummeted by more than 40% after its largest creditors reportedly signed a deal binding them to act together in negotiations.Read more: Carvana shares tank as bankruptcy concerns grow for used car retailer

Sam Bankman-Fried lobbied for Taylor Swift deal as FTX bled cash and execs urged restraint

Created: Wed, 07 Dec 2022 18:39:58 GMT

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While FTX's financials were suffering from the crypto selloff earlier this year, Sam Bankman-Fried was trying to land a sponsorship deal with Taylor Swift.Read more: Sam Bankman-Fried lobbied for Taylor Swift deal as FTX bled cash and execs urged restraint

Apple announces plans to encrypt iCloud backups

Created: Wed, 07 Dec 2022 18:52:24 GMT

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Apple announced on Wednesday that it plans to encrypt additional iCloud data on its servers, including full backups, photos, and notes.Read more: Apple announces plans to encrypt iCloud backups

National security concerns reportedly delay TikTok-U.S. deal

Created: Wed, 07 Dec 2022 14:34:58 GMT

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In notes on Wednesday, analysts predicted that Meta, Google's YouTube and Snap would stand to gain from a TikTok ban in the U.S.Read more: National security concerns reportedly delay TikTok-U.S. deal

Cryptocurrency firms need to 'come into compliance' with existing rules, SEC Chair Gary Gensler says

Created: Wed, 07 Dec 2022 18:57:00 GMT

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SEC Chair Gary Gensler says rules are in place to regulate cryptocurrency exchanges, but companies must comply with existing rules.Read more: Cryptocurrency firms need to 'come into compliance' with existing rules, SEC Chair Gary Gensler says

Stocks making the biggest moves midday: Carvana, MongoDB, TripAdvisor, Toll Brothers and more

Created: Wed, 07 Dec 2022 17:59:37 GMT

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These are the stocks posting the largest moves in midday trading. Read more: Stocks making the biggest moves midday: Carvana, MongoDB, TripAdvisor, Toll Brothers and more

Tech's pandemic hiring boom continues to bust as fintech Plaid adds to mounting layoffs

Created: Wed, 07 Dec 2022 18:18:29 GMT

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Fintech firm Plaid is laying off about 260 employees, adding to the recent wave of cuts from tech companies like Meta, Twitter and Coinbase.Read more: Tech's pandemic hiring boom continues to bust as fintech Plaid adds to mounting layoffs

Here's how to use Lensa, the chart-topping app that uses AI to transform your selfies into digital avatars

Created: Wed, 07 Dec 2022 19:14:11 GMT

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Lensa is the top free app on Apple's App Store. For a small fee, it turns your selfies into AI-generated digital art. Here's how it works. Read more: Here's how to use Lensa, the chart-topping app that uses AI to transform your selfies into digital avatars

McDonald's hopes deals like 50-cent double cheeseburgers beef up sales on its mobile app

Created: Wed, 07 Dec 2022 15:30:13 GMT

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More than a year after its U.S. launch, McDonald's loyalty program had 25 million active members, as of Sept. 30.Read more: McDonald's hopes deals like 50-cent double cheeseburgers beef up sales on its mobile app

Jim Cramer's Investing Club meeting Wednesday: China reopening, Danaher, Apple

Created: Wed, 07 Dec 2022 16:52:07 GMT

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The Investing Club holds its "Morning Meeting" every weekday at 10:20 a.m. ET.Read more: Jim Cramer's Investing Club meeting Wednesday: China reopening, Danaher, Apple

EU sanctions, Russian oil price cap cause tanker bottleneck as crude moves through Turkey

Created: Wed, 07 Dec 2022 18:22:16 GMT

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Tankers shipping Russian oil face new Turkish insurance rules and delays which will worsen with a 'shadow fleet' of Chinese and Indian refiners likely buyers.Read more: EU sanctions, Russian oil price cap cause tanker bottleneck as crude moves through Turkey

Cigarette companies ordered to display health warning signs at retailers

Created: Wed, 07 Dec 2022 17:21:34 GMT

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The Justice Department announced a court order requiring cigarette companies to post health warning signs at retailer locations. Read more: Cigarette companies ordered to display health warning signs at retailers

Skyrocketing demand for ADHD meds is straining the U.S. health care system

Created: Wed, 07 Dec 2022 17:39:50 GMT

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Prescriptions for ADHD medications have been rising, which is leading to long waiting times for treatment and medication shortages in the U.S.Read more: Skyrocketing demand for ADHD meds is straining the U.S. health care system

Biden to require new federal buildings to slash greenhouse gas emissions

Created: Wed, 07 Dec 2022 18:54:32 GMT

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The decision comes as a growing number of cities have voted to curb gas consumption in buildings. Read more: Biden to require new federal buildings to slash greenhouse gas emissions

FDA expected to decide on Pfizer RSV vaccine for older adults by May 2023

Created: Wed, 07 Dec 2022 17:59:19 GMT

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Pfizer said the FDA has accepted its RSV vaccine candidate for review under an expedited process that reduces the approval process by four months. Read more: FDA expected to decide on Pfizer RSV vaccine for older adults by May 2023

In the U.S., you can legally 'be fired for any reason or no reason at all'—here's why

Created: Wed, 07 Dec 2022 17:33:28 GMT

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The U.S. uses an at-will employment system, giving employers the power to fire or let go of employees without reason.Read more: In the U.S., you can legally 'be fired for any reason or no reason at all'—here's why

Morgan Stanley cuts iPhone shipment estimate by another 3 million units

Created: Wed, 07 Dec 2022 15:16:58 GMT

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Morgan Stanley analysts reduced their Apple iPhone shipment forecast by an additional 3 million units Wednesday to account for slower production in China.Read more: Morgan Stanley cuts iPhone shipment estimate by another 3 million units

Freight rates from China to West Coast down 90% as global trade falls off fast

Created: Wed, 07 Dec 2022 16:00:17 GMT

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The cost of ocean freight from China bound for the U.S. West Coast has plunged year over year as demand falls more rapidly than logistics managers forecast. Read more: Freight rates from China to West Coast down 90% as global trade falls off fast

Key White House economic advisor says U.S. economy is slowing but resilient

Created: Wed, 07 Dec 2022 18:30:07 GMT

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National Economic Council Director Brian Deese said the U.S. economy is resilient and poised to become a center of productivity despite historic inflation.Read more: Key White House economic advisor says U.S. economy is slowing but resilient

McCarthy's struggle to lock down House speaker roils GOP caucus, delays key committee assignments

Created: Wed, 07 Dec 2022 17:50:20 GMT

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GOP leader Kevin McCarthy's struggle to win 218 votes to be House speaker threatens to delay Republicans' plans to hit the ground running in the new majority.Read more: McCarthy's struggle to lock down House speaker roils GOP caucus, delays key committee assignments

50% of women say they are behind on retirement savings. Here's why they face challenges

Created: Wed, 07 Dec 2022 18:20:40 GMT

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Women face higher hurdles for how much income they will need in retirement, and they lack confidence they can clear them, according to a Goldman Sachs report.Read more: 50% of women say they are behind on retirement savings. Here's why they face challenges

U.S. pledges to ramp up supplies of natural gas to Britain as Biden and Sunak seek to cut off Russia

Created: Wed, 07 Dec 2022 10:49:45 GMT

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Partnership comes at a time of huge disruption within global energy markets following Russia's invasion of Ukraine. Read more: U.S. pledges to ramp up supplies of natural gas to Britain as Biden and Sunak seek to cut off Russia

Activist investor calls for BlackRock CEO Fink to step down over ESG ‘hypocrisy’

Created: Wed, 07 Dec 2022 13:20:14 GMT

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BlackRock CEO Larry Fink is facing calls to step down from activist investor Bluebell Capital over the company's alleged "hypocrisy" in its ESG messaging.Read more: Activist investor calls for BlackRock CEO Fink to step down over ESG ‘hypocrisy’

'Risky behaviors' are causing credit scores to level off — here's how that can hurt you

Created: Wed, 07 Dec 2022 18:05:46 GMT

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Your three-digit credit score can determine the interest rate you’ll pay for credit cards, car loans and mortgages. The higher your score, the lower the rate.Read more: 'Risky behaviors' are causing credit scores to level off — here's how that can hurt you

Southwest Airlines reinstates dividend after nearly three years as travel rebounds

Created: Wed, 07 Dec 2022 19:03:48 GMT

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Southwest's 18 cents a share dividend will pay out on Jan. 31Read more: Southwest Airlines reinstates dividend after nearly three years as travel rebounds

Raphael Warnock beats Trump pick Herschel Walker in Georgia Senate runoff, NBC projects

Created: Wed, 07 Dec 2022 12:32:28 GMT

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Warnock's projected win over Walker marks a major loss for former President Donald Trump and could have a major impact on President Joe Biden's agenda.Read more: Raphael Warnock beats Trump pick Herschel Walker in Georgia Senate runoff, NBC projects

Mortgage demand falls again even as rates sink further

Created: Wed, 07 Dec 2022 12:00:01 GMT

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Lower mortgage rates are pulling some current homeowners back to the refinance market, but not enough to offset the drop in demand from homebuyers.Read more: Mortgage demand falls again even as rates sink further

Omicron boosters are weaker against BQ.1.1 subvariant that is rising in U.S., study finds

Created: Wed, 07 Dec 2022 13:39:58 GMT

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The boosters did not trigger a robust response against BQ.1.1. People with a prior history of infection who received the booster had a stronger response Read more: Omicron boosters are weaker against BQ.1.1 subvariant that is rising in U.S., study finds

The 3 most ‘recession-proof’ job candidates that are in demand even during a downturn, according to a recruiting expert

Created: Wed, 07 Dec 2022 14:53:32 GMT

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Workers that meet this criteria help businesses improve their bottom line, recruiting expert Jeff Hyman explains, either by reducing costs or boosting revenue.Read more: The 3 most ‘recession-proof’ job candidates that are in demand even during a downturn, according to a recruiting expert

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