U.S. Productivity Excels – by Justin Vaughn

(Justin Vaughn, Editor, Options Trading Report) Last week’s market finished up again after several days of churning higher with the S&P 500 and the Dow Jones Industrial Average cresting to record new highs. The Magnificent 7 and big techs soared to new highs also, finishing the week strong. The earning parade continued with a majority of companies’ releases beating year-over-year numbers. Oil was weaker, closing down $1.45 a barrel. Gold moved steadily up hitting $2,713.70 … Read more…

Platinum Equity’s Ingram Micro valued at $6 billion as shares jump 15% in NYSE debut

By Arasu Kannagi Basil and Echo Wang (Reuters) -Ingram Micro notched a valuation of $6 billion after shares jumped 15% in their market debut on Thursday, signaling strong investor demand for one of the world’s largest technology distributors. U.S. initial public offerings have staged a comeback as investor sentiment improves and stock markets hover near record highs. With uncertainties surrounding the presidential election and future rate cuts expected to ease next year, analysts anticipate more … Read more…

Hack at UnitedHealth’s tech unit impacted 100 million people, US health dept says

(Reuters) – The February hack at UnitedHealth’s tech unit Change affected the personal information of 100 million people, the U.S. health department’s website showed, making it the largest healthcare data breach in the country. UnitedHealth has previously said that hackers potentially stole a third of Americans’ data in one of the worst hacks to hit the U.S. healthcare sector. The company began notifying affected patients in June. UnitedHealth did not immediately respond to a Reuters … Read more…

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Exclusive-Pakistan requests $1 billion in IMF climate cash and sees reserves rising

By Karin Strohecker WASHINGTON (Reuters) -Pakistan is targeting around $1 billion in a formal request for funding from the IMF facility that helps lows and middle income countries mitigate climate risk, its finance minister told Reuters. “We have formally requested to be considered for this facility,” Finance Minister Muhammad Aurangzeb said in an interview on the sidelines of the IMF/World Bank autumn meetings in Washington. The International Monetary Fund had already agreed a $7 billion … Read more…

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Sentiment vs. Reality—Is Growth Costing Tesla More Than It’s Worth?

Sentiment vs. Reality—Is Growth Costing Tesla More Than It’s Worth? Tesla’s Q3 2024 earnings call was filled with optimism, as Elon Musk and his leadership team focused on the long-term potential of the company’s Full Self-Driving (FSD) technology, AI innovations, and the upcoming Cybertruck. They painted a picture of Tesla’s future dominance, pushing the idea that scaling production and capturing market share are the keys to long-term success. But here’s the reality: while Tesla’s top-line … Read more…

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Boeing expects to burn cash next year as CEO says there’s no quick fix for ailing planemaker

By Abhijith Ganapavaram and Allison Lampert (Reuters) -Boeing CEO Kelly Ortberg laid out a cautious path to turn the company around on Wednesday, calling for a “fundamental culture change” at the struggling planemaker as its quarterly losses surged to $6 billion due to a crippling strike. Boeing has racked up losses of nearly $8 billion for the current year, after the strike halted production of its 737 MAX, 777 and 767 planes and an ailing … Read more…

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Iranian hacker group focuses on US election websites, media, ahead of vote, Microsoft says

By Christopher Bing and A.J. Vicens (Reuters) -An Iranian hacking group is actively scouting U.S. election-related websites and American media outlets as election day nears, according to a Microsoft blog published on Wednesday. Researchers say the activity suggests “preparations for more direct influence operations.” The hackers – dubbed Cotton Sandstorm by Microsoft and linked to Iran’s Islamic Revolutionary Guard Corps – performed reconnaissance and limited probing of multiple “election-related websites” in several unnamed swing states, … Read more…

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McDonald’s shares drop as head of US vows to improve safety after E. coli outbreak

By Ananya Mariam Rajesh (Reuters) – McDonald’s shares fell 4.3% in midday trading on Wednesday, as the head of its U.S. business scrambled to limit the damage from an E. coli outbreak linked to Quarter Pounder burgers in several states that has killed one person and sickened nearly 50 others. McDonald’s USA President Joe Erlinger on Wednesday said the world’s biggest fast-food chain could rebuild trust with the public as it works to soften the blow of … Read more…

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IBM releases new AI models for businesses as genAI competition heats up

(Reuters) – IBM released the latest version of its artificial intelligence models catered towards businesses on Monday, looking to capitalize on the surge in enterprises adopting generative AI technology. “Granite 3.0” models will be made open-source, similar to other versions in IBM’s Granite family of AI models. This approach differs from rivals such as Microsoft that charge customers for access to their models. In turn, IBM offers a paid tool called Watsonx that helps run … Read more…

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Modi tells Putin that India wants peace in Ukraine

By Vladimir Soldatkin and Guy Faulconbridge KAZAN, Russia (Reuters) -India’s Narendra Modi told Russian President Vladimir Putin on the eve of the BRICS summit that he wanted peace in Ukraine and that New Delhi was ready to help achieve a truce to end Europe’s deadliest conflict since World War Two. Putin, who ordered tens of thousands of troops into Ukraine in February 2022, wants the BRICS summit to showcase the rising clout of the non-Western … Read more…

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