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U.S. Wholesale Inventories Increase In Line With Estimates In May
A report released by the Commerce Department on Wednesday showed wholesale inventories in the U.S. increased in line with economist estimates in the month of May. The Commerce Department said wholesale inventories climbed by 0.6 percent in May after rising by an upwardly revised 0.2 percent in April.
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Microsoft, Apple Give Up OpenAI Board Seats
Tech majors Microsoft Corp. and Apple Inc. are dropping out of their respective seats on the Board of Directors of AI startup OpenAI, the developer of generative chatbot ChatGPT, amid the increasing regulatory scrutiny in Europe and the U.S. over generative AI, as per reports. Microsoft, OpenAI's largest investor, has quit as an observer on OpenAI's nonprofit board, a non-voting seat...
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Quest Diagnostics To Acquire Outreach Laboratory Services Of OhioHealth
Quest Diagnostics (DGX), a provider of diagnostic information services, and OhioHealth, a nationally recognized not-for-profit, charitable, integrated health system, announced Wednesday a definitive agreement for Quest to acquire select assets of OhioHealth's outreach laboratory services business.
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Accenture Acquires Cientra For Undisclosed Terms
Professional services company Accenture plc (ACN) announced Wednesday the acquisition of Cientra Techsolution, a silicon design and engineering services company, offering custom silicon solutions for global clients. The terms of the acquisition were not disclosed.
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Canadian Market Looks Headed For Positive Start
Canadian shares look headed for a positive start Wednesday morning as gold and silver stocks are likely to find support on higher metal prices. Optimism about an interest rate cut by the Federal Reserve in September is likely to contribute as well to the positive mood on Bay Street.
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W. P. Carey Says President John Park To Step Down Effective September 30, 2024
Net lease REIT W. P. Carey, Inc. (WPC) announced Wednesday that John Park will step down as President of the company effective September 30, 2024. He has been an integral member of the W. P. Carey team for nearly 37 years.
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Manchester United Q3 Loss Sharply Widens, But Reiterates FY24 Revenue Outlook
Manchester United (MANU) announced Wednesday a third-quarter net loss of 71.4 million British pounds or 43.12 pence per basic share, sharply wider than 5.6 million pounds or 3.40 pence per basic share in the prior-year quarter.
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3M Says President And CFO Monish Patolawala To Resign Effective July 31
3M, Inc. (MMM) announced Wednesday the resignation of Monish Patolawala, President and Chief Financial Officer, effective July 31, 2024, to pursue another opportunity. Patolawala will stay on through July 31, 2024, to ensure an orderly transition.
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Samsung Union Workers On Indefinite Strike
Samsung Electronics Co.'s workers union have extended their three-day general strike indefinitely over pay and benefits after the South Korean tech giant's executives failed to show any intention to hold fresh talks, reports said. The National Samsung Electronics Union or NSEU, with about 30,000 members, had begun their strike on Monday seeking better wage options and bonuses...
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Sensex, Nifty Decline As Investors Await Q1 Earnings
Indian shares ended Wednesday's session lower as investors locked in some profits and sought cues from the upcoming earnings season.
The benchmark S&P/BSE Sensex dropped 426.87 points, or 0.53 percent, to 79,924.77 while the broader NSE Nifty index closed at 24,324.45, down 108.75 points, or 0.45 percent from its previous close.
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European Shares Rise After Powell's Testimony In Senate
European stocks traded higher in cautious trade on Wednesday as investors eyed the second round of testimony by Federal Reserve Chair Jerome Powell as well as key U.S. inflation readings for directional cues.
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FTSE 100 Edges Higher On Rate Cut Hopes
U.K. stocks were moving higher on Wednesday after Federal Reserve Chair Jerome Powell said that inflation has been improving in recent months and "more good data would strengthen" the case for interest-rate cuts.
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CAC 40 Gains As Parties Begin Talks On Forming Government
French stocks eked out modest gains on Wednesday after French political leaders from the left-wing bloc said they intended to form a government.
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