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Economy

Fed looks set to tweak reverse repo rate to speed exit of cash

By Michael S. Derby NEW YORK (Reuters) – The Federal Reserve appears likely to take a step on Wednesday to nudge cash…
Economy

Oman’s Investment Authority acquires stake in Elon Musk’s XAI company, state news says

DUBAI (Reuters) – The Oman Investment Authority (OIA) has acquired a stake in the artificial intelligence company XAI owned by Elon Musk,…
Stock

Instagram to account for half of Meta’s US ad revenue by 2025

Investing.com — Meta Platforms Inc (NASDAQ:META).’s Instagram is projected to comprise 50% of the company’s US advertising revenue in the near future,…
Stock

Siemens to sell $2.6 billion stake in Siemens Energy to fund Altair acquisition

Investing.com — Siemens AG (OTC:SIEGY) intends to sell a $2.6 billion stake in Siemens Energy AG (ETR:ENR1n) in the forthcoming months. The…
Stock

Instagram set to account for half of Meta’s US ad revenue

Investing.com — Meta Platforms Inc (NASDAQ:META).’s Instagram is projected to soon constitute half of the firm’s advertising revenue in the United States,…
Stock

UniCredit increases stake in Commerzbank, nears mandatory bid threshold

Investing.com — UniCredit, Italy’s second-largest bank by assets, has raised its stake in German rival Commerzbank (ETR:CBKG) to 28%, nearing the 30%…
Stock

Kioxia debuts with a 10% surge following $800 million IPO

Investing.com — Kioxia Holdings, a Japanese chip maker, saw its shares rise by 10% in its initial public offering (IPO), closing at…
Investing

McKinsey & Co. to pay $650M to settle opioid consulting probe, ex-partner to plead guilty

McKinsey & Company agreed to pay $650 million in a deferred prosecution agreement that will resolve a federal criminal probe into the company’s consulting work…
Investing

From Chili’s to burger chains, here are the restaurant industry winners and losers in 2024

A rocky year for restaurants separated the industry’s biggest chains into winners and losers, as eateries competed for a smaller pool of…
Investing

Former Ozy Media head sentenced to nearly 10 years in prison

The former head of Ozy Media has been sentenced to 10 years in prison for his role in an alleged fraud involving…
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