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VillageMD to Buy Summit Health for $9 Billion

Walgreens-backed VillageMD has agreed to buy urgent care provider Summit Health in a deal valued at nearly $9 billion.

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Meta Planning 10% Reduction In Force

After rapid growth throughout the height of the covid era, Meta Platforms is moving forward with significant cost cuts that are likely to result in thousands of layoffs.

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Wells Fargo Sees 90% Decline in Mortgage Originations

Mortgage volumes at Wells Fargo slowed further in recent weeks, leaving some workers idle and sparking concerns the lender will need to cut more employees as the U.S. housing slump deepens.

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Flurry of Changes at Twitter as Musk Takes Over

In an expanding exodus of Twitter's top management, officials including its advertising and marketing chiefs left the company in the past few days. The departures come after billionaire Elon Musk's $44 billion takeover of the company last week, followed by his firing of CEO Parag Agrawal, Chief Financial Officer Ned Segal, and legal affairs and policy chief Vijaya Gadde.

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Russia-Ukraine Shipping Deal Crumbles

Russia has backed out of the Black Sea Deal, placing added strain on exports and the global food supply. Russia’s decision to back out of the deal on Saturday shook global markets, especially those of grain. Fortunately, Ukraine has not halted shipping quite yet as the country launched 12 ships carrying grain out of Black Sea ports on Monday.

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Pfizer Faces Losses

Pfizer CEO Albert Bourla laid out his plan Tuesday to keep the pharmaceutical giant growing through 2030, as the Covid-19 pandemic fades and the company faces generic competition for some of its blockbuster drugs.

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Musk Completes Twitter Takeover

Nearly six months and $44 billion later Elon Musk has complete control over Twitter. The board of directors that oversaw the merger has all been dissolved leaving Elon Musk as the sole director of the company.

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Harley Davidson Struggles In EV Transition

Harley Davidson’s subsidiary LiveWire is off to a rough start as the electric motorcycle manufacturer is struggling to raise investor and consumer sentiment during the current economic climate.

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Recession Tests Airbnb

Airbnb gave a disappointing outlook for bookings in the fourth quarter, suggesting that consumer preferences are shifting away from higher-cost rentals that thrived during the pandemic and back to urban and cross-border destinations. The shares fell more than 9% in extended trading.

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The Downfall of Kanye West’s Business & Fashion Empire

Kanye West is no longer a billionaire, according to Forbes. The popular financial magazine reported Oct. 25 that the rapper lost his spot on its list of billionaires after being dropped by Adidas for his antisemitic comments.

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Student Loan Forgiveness On Hold

Student loan forgiveness is on hold, attorneys general from Republican-Arkansas, Iowa, Kansas, Missouri, Nebraska and South Carolina have sued the Biden administration in an effort to stop its plan to cancel hundreds of billions of dollars in student debt.

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Royal Philips Recall Results In Layoffs

Royal Philips has announced that the company will be cutting 4,000 jobs in an attempt to better manage supply chain shortages and handle the recent backlash from a recalled sleep apnea device.

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Warner Bros. Discovery Group Restructuring

Warner Brothers – Discovery expects to record pretax charges of up to $4.3 billion as part of ongoing restructuring efforts at the film and TV company.

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Credit Suisse Accused of Money Laundering

Credit Suisse has agreed to pay French officials roughly $235 million as a settlement for a long-lasting money laundering scandal in which the well-known lender was accused of attempting to bring wealthy clients to Switzerland.

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Toshiba Selling for $16 Billion

Toshiba has had a good year for itself with its stock price rising by 17%. This has left the valuation of the company to reach nearly $16 billion or 2.4 trillion yen. The Japan Industrial Partners are seeking to purchase Toshiba in an all-cash deal worth $16.1 billion.

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Netflix Launches Subscription With Ads

Netflix has revealed its plans to offer a reduced-cost version of the popular streaming service at a time when consumers are more reluctant to spend money.

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BP To Acquire Renewable Start-Up

BP has agreed to purchase renewable energy company Archaea Energy Inc. for $4.1 billion.

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Kanye Social

Kanye West announced today that he will be buying the controversial social media app Parler after facing several restrictions on more popular apps such as Twitter and Instagram.

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Boeing Offers Air India Jets Previously Designated for China

Boeing is offering 737 Max jets once slated for Chinese customers to Air India as the planemaker tries to offload some of the roughly 140 aircraft it’s currently not allowed to deliver.

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Mobileye Valuation Slashed

Intel is eyeing a significantly lower valuation than previously expected in the initial public offering of its Mobileye Global self-driving car unit, according to people familiar with the matter, in the latest sign of the beleaguered state of the new-issue market.

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Is the White House Dipping into The Emergency Stockpile of Oil Too Much?

Many have become concerned recently over President Biden tapping into the country's emergency stockpile of oil as the White House tries to prevent gasoline prices from spiking again, arguing that it is reducing the petroleum reserve to its lowest level in four decades, but are these concerns reasonable?

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J.P. Morgan's Jamie Dimon Has "Serious" Recession Fears

Jamie Dimon has warned that a “very, very serious” mix of headwinds was likely to tip both the U.S. and global economy into recession by the middle of next year.

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Binance Hack

Hackers have struck again but this time their target was the world’s largest crypto exchange, Binance.

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Amazon Abandonment

Recent events have shown that even the largest tech companies are not immune to slowing economic growth. Amazon Inc. has stated that they are abandoning their Scout project which was an attempt for the e-commerce giant to use small autonomous robots to deliver packages to customers’ homes.

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Rivian Recall

Rivian Automotive is recalling nearly all of its vehicles due to a discovered problem with improperly installed fasteners that could cause drivers to lose control of their vehicles.

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