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The stock of Bank of America took a hit, sliding 2% after a regulatory filing showed Warren Buffett’s Berkshire Hathaway continued to downsize its stake in the company. Berkshire sold 13.9 million more shares of the bank over the past three trading days, totaling $550.7 million. This downward trend in Berkshire’s stake raises questions about
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Alaska Airlines has successfully completed the regulatory investigation by the U.S. Justice Department regarding its acquisition of Hawaiian Airlines. This milestone marks a significant step towards the completion of the $1.9 billion deal between the two carriers. The Justice Department’s review period ended without any legal action to block the merger, clearing the way for
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California Governor Gavin Newsom recently signed 10 new bills into law designed to combat retail crime in the state. These laws target various aspects of retail crime, such as shoplifting, theft from vehicles, organized theft, and online marketplaces where stolen goods are resold. Retailers have raised concerns about the rising challenge of retail theft, affecting
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In midday trading, Advanced Micro Devices (AMD) saw a gain of over 2% following the announcement of its plans to acquire server builder ZT Systems in a cash-and-stock deal worth $4.9 billion. This move is expected to strengthen AMD’s position in the market and expand its offerings in the server industry. HP shares dropped more
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Waymo, a subsidiary of Alphabet, has recently announced the details of its latest “generation 6” self-driving technology. This new driverless tech, which is being integrated into Geely Zeekr electric vehicles, is expected to be capable of handling a wider range of weather conditions without the need for as many expensive cameras and sensors on board.
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After a week of strong performances in global equities, Asian stocks appeared to be taking a breather on Monday. This followed expectations that the U.S. economy would avoid a recession and that cooling inflation would lead to a cycle of interest rate cuts. Federal Reserve members Mary Daly and Austan Goolsbee were vocal over the
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Canada’s freight rail network is currently facing a looming crisis that could have a detrimental impact on the country’s economy. The two largest railroad operators in Canada, Canadian National Railway (CN) and Canadian Pacific (CP) Kansas City, have issued lockout notices to the Teamsters union, representing nearly 10,000 workers. If last-minute deals aren’t reached, these
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