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S&P 500, Nasdaq hit record closing highs; Lululemon gains, data supports rate cut view

By Caroline Valetkevitch NEW YORK (Reuters) -The Nasdaq and the S&P 500 rose to record closing highs on Friday following upbeat forecasts from Lululemon Athletica and other companies and as U.S. jobs data fueled expectations the Federal Reserve would cut interest rates this month. The Dow finished lower, as a 5.1% drop in UnitedHealth Group …

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Fitch revises Hungary’s outlook to ‘stable’

(Reuters) – Credit ratings agency Fitch on Friday revised its outlook on Hungary to “stable” from “negative,” citing reduction in macroeconomic imbalances driven by improved coherence between fiscal and monetary policies. “The National Bank of Hungary (MNB) has maintained a tight monetary policy stance, while the government has taken steps to reduce the primary deficit …

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Appeals court upholds nearly $1.3 billion Sandy Hook verdict against Alex Jones

By Jack Queen (Reuters) – A Connecticut appeals court on Friday largely upheld a nearly $1.3 billion defamation verdict against conspiracy theorist Alex Jones in a case accusing the Infowars founder of spreading lies about the 2012 Sandy Hook mass shooting.  A three-judge panel of the Connecticut Appellate Court found that a jury’s October 2022 …

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Exclusive-Trump may cancel US Postal Service electric mail truck contract, sources say

By Jarrett Renshaw and Alexandra Ulmer (Reuters) -Donald Trump’s transition team is considering canceling the U.S. Postal Service’s contracts to electrify its delivery fleet, as part of a broader suite of executive orders targeting electric vehicles, according to three sources familiar with the plans. The move, which could be unveiled in the early days of …

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US regulator places Google Payment under supervision, company sues

(Reuters) -The US watchdog for consumer finance on Friday announced it was ordering federal supervision of Google Payment Corp., the internet giant’s payment arm, a decision the company immediately said it was challenging in court. The Consumer Financial Protection Bureau announced the step saying it had determined services offered by Google Payment had posed a …

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Oilfield services provider Flowco shows revenue surge in US IPO filing

(Reuters) -Oilfield services provider Flowco showed a surge in revenue when it filed paperwork for a U.S. initial public offering on Friday, becoming the latest to capitalize on a recent revival in investor appetite for newly listed stocks. The U.S. IPO market, which had largely avoided large deals for nearly three years, is experiencing a …

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Goldman explores possible sale of ETF client platform, sources say

By Suzanne McGee, Saeed Azhar and Manya Saini (Reuters) – Goldman Sachs is exploring options, including a potential sale, of its ETF Accelerator platform which helps the bank’s institutional clients launch their own exchange-traded funds, two sources familiar with the matter told Reuters on Friday. The platform is separate from the ETF business of Goldman …

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