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German Startup Looks to Crack Nuclear Fusion

A German start-up known as Proxima Fusion has received initial funding for the development of a new machine that may be capable of supplying near-limitless energy through the fusion of atoms.

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China Real Estate Falls Further

New data show China’s massive property sector is still struggling to turn around, despite signs of recovery earlier this year.

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Moscow Residential Areas Hit in Drone Strike

Tensions within the Russian invasion of Ukraine are spiking as several drones struck residential buildings within Moscow with more being shot down by the city's air defenses. The recent strikes have led to the civilian evacuations of the affected areas.

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Nvidia Hits Trillion Dollar Valuation

Nvidia became the seventh U.S. company to reach a $1 trillion market cap Tuesday morning as share prices reached $416.39 just before 10:00 AM.

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Asia Equities Slump as American Equities Rally

Asian stocks fell Wednesday after momentum in US equities faded and Congress considered the debt accord that’s needed to head off a catastrophic default.

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U.S. Job Market Gets Unexpected Lift in April

U.S. job openings rose unexpectedly in April, illustrating the resilience of the American labor market and complicating Federal Reserve efforts to fight inflation. Employers posted 10.1 million job openings last month, up from 9.7 million in March and the most since January, the Labor Department said Wednesday. Economists had expected vacancies to slip below 9.5 million.

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The Debt Ceiling Fight & How it Impacts the Economy

Once again, the debt ceiling is in the news and is a cause for concern. If the debt ceiling binds, and the U.S. Treasury does not have the ability to pay its obligations, the negative economic effects would quickly mount, triggering a deep recession. Although the US government has never defaulted on its debt, it does occasionally have showdowns over whether or not the ceiling will be raised.

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Western United States Agrees to Water Resolution

The states that use Colorado River water have agreed to cuts requested by the federal government to help keep two of the main reservoirs, Lake Mead and Lake Powell, from falling to critically low levels.

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Congress and White House Struggle With Debt Deal

House Speaker Kevin McCarthy said Monday that “decisions have to be made” at his meeting with President Joe Biden later in the day at the White House, with only 10 days to go until the U.S. risks default.

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Meta Fined $1.3 Billion Over Privacy Concerns

Meta Platforms was fined $1.3 billion by European Union regulators for sending the personal information of European Facebook users to the United States.

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Applied Materials Announces $4 Billion Semiconductor Facility

The California-based company Applied Materials announced its intention to invest $4 billion into developing a new facility within California dedicated to research and development of tools used in the manufacturing of semiconductors.

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Chevron Acquires PDC Energy for $7.6 Billion

Chevron is looking to further its oil and gas drilling capabilities within the United States as the company is acquiring its long-time rival PDC Energy for $7.6 billion including debt.

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Berkshire Hathaway Bets $954 Million on Capital One

Warren Buffett’s Berkshire Hathaway placed a $954 million bet on credit card and banking company Capital One in the first quarter, one of the few new stakes added by the investment group in a period when it was dumping billions of dollars’ worth of stocks.

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Musk Taps New Twitter Chief

Months after Elon Musk ran a Twitter poll in which the platform's users voted for him to step down, we now know just who Twitter's new CEO is going to be. On Friday, Musk confirmed reports that the new CEO for Twitter – technically, X Corp. is going to be the former head of advertising at NBCUniversal, Linda Yaccarino. NBCUniversal confirmed her departure from the company just hours before Musk announced the Twitter news.

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Writers Guild Strike to Disrupt Tony Awards

The curtain has fallen on the Tonys‘ scheduled air date: The annual theater awards ceremony won’t air on CBS as planned on June 11 after the Writers Guild of America denied a waiver for the show to air during the ongoing Hollywood writers’ strike.

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EU Greenlights Microsoft's $75 Billion Activision Deal

The European Union’s antitrust watchdog approved Microsoft’s planned $75 billion acquisition of Activision Blizzard giving the two companies a win after the deal hit a regulatory roadblock in the U.K.

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Vice Media Files for Chapter 11 Bankruptcy

Vice Media is filing for Chapter 11 bankruptcy protection, the latest digital media company to falter after a meteoric rise. Vice said Monday that it has agreed to sell its assets to a consortium of lenders — Fortress Investment Group, Soros Fund Management and Monroe Capital — in exchange for $225 million in credit. Other parties will also be able to submit bids.

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Vodafone to Cut 11,000 Jobs as Shares Fall Dramatically

It’s been a number of weeks since Margherita Della Valle was named the CEO of Vodafone Group, and she’s had about five months to evaluate the company’s situation as interim CEO. During this time the new CEO concluded that the company is due for a significant redesign, which includes the reduction of 11,000 positions over the next three years, starting at Vodafone’s U.K. headquarters and its operations in Germany and Italy.

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Amazon Shifts Movie Distribution Strategy

Amazon is in the works of developing new methods of providing the company’s plethora of Amazon original TV shows and movies to viewers on other platforms.

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Baxter International Sells Biopharma Unit for $4.2 Billion

Baxter International announced on Monday that the company has agreed to sell its biopharma solutions unit for $4.25 billion as it seeks to dedicate more resources to its primary goal of developing a treatment for kidney disease and other acute chronic conditions.

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Adobe Figma Deal on Hold

The $20 billion acquisition of Figma by Adobe may be put to an end as the UK competition regulator opened a probe into the deal nearly nine months after its announcement.

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Tesla Breaks Ground on Texas Lithium Refinery

Tesla CEO Elon Musk joined Texas Governor Greg Abbott to break ground at the site of the electric vehicle maker’s new lithium refinery in Corpus Christi on Monday.

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Lucid Losses Mount

Luxury electric vehicle maker Lucid Group on Monday reported a wider first-quarter loss, but said that it still has enough cash to continue operations into next year. Shares were down over 8% in after-hours trading following the news.

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Inflation Falls to Lowest Levels in Two Years

Consumer prices climbed 4.9% in April — the first-time annual inflation has landed below 5% in two years. On a monthly basis, the inflation rate rose 0.4%, which was higher than the 0.1% in March.

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Nordstrom Closes all its Stores in San Francisco

Nordstrom is closing both of its stores in downtown San Francisco, citing the changing “dynamics” of the area that hasn’t recovered since the pandemic and has been in the spotlight for crime.

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