July 28, 2021

Business

DailyHum News
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GOP lawmaker 'shocked' over Biden's hesitancy to act on Cuba
Business

Tennessee Republican Bill Hagerty weighs in as pressure grows on the Biden admin to act #FoxBusiness #EveningEdit Subscribe to Fox Business! https://bit.ly/2D9Cdse Watch more Fox Business Video: https://video.foxbusiness.com Watch Fox Business Network Live: http://www.foxnewsgo.com/
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Global Investors Blindsided by China
Business

Jul.27 -- Beijing’s moves have already wiped out $1 trillion in value from mainland and Hong Kong stocks this month alone. Investors now being split on whether that presents an opportunity to buy in. Bloomberg Intelligence’s Marvin Chen discusses the markets on “Bloomberg Daybreak: Asia.”
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Stores impacted by 'shrinkflation' as companies reel from economic struggles
Business

Brian Brenberg joins 'Kennedy' to discuss why top brands are charging the same prices for smaller quantities of product. #FOXBusiness #Kennedy Subscribe to Fox Business! https://bit.ly/2D9Cdse Watch more Fox Business Video: https://video.foxbusiness.com Watch Fox Business Network Live: http://www.foxnewsgo.com/
DailyHum News
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Simone Biles withdraws from individual all-around gymnastics final at Tokyo Olympics
Business

Simone Biles will not defend her all-around gold medal, USA Gymnastics confirmed Wednesday morning.The 24-year-old superstar will miss the individual competition at the Tokyo Olympic Games to focus on her mental health, her team said."Simone will continue to be evaluated daily to determine whether or not to participate in next week's individual event finals," USA Gymnastics said in a statement."We wholeheartedly support Simone's decision and applaud her bravery in prioritizing her well-being. Her courage shows, yet again, why she is a role model for so many."Biles shocked the Olympic world Tuesday when she pulled out of the U.S. team gymnastics finals, said the emotional toll of the Tokyo Games, not a physical injury, prompted her withdrawal.
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China’s Growth Will Start to Undershoot Trend: Darby
Business

Jul.28 -- Sean Darby, chief global equity strategist at Jefferies, discusses China’s markets, the economy and where he’s finding opportunity. He speaks on “Bloomberg Markets: China Open.”
DailyHum News
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Wyoming town hopeful Bill Gates’ nuclear plant will help replace jobs
Business

GLENROCK, Wyo. - If you’re driving through Glenrock on Interstate 25, the Dave Johnston Power Plant is hard to miss. For some of the locals, catching a glimpse is a sign they’ve arrived home. The coal-fired plant is set to be retired in 2027 though, and that means nearly 200 jobs could be lost along with it. That’s unless Bill Gates and nuclear power save the day. Gates, the co-founder of Microsoft, also founded the self-described nuclear innovation company TerraPower. It has plans to build its first Natrium nuclear reactor in Wyoming. Glenrock, population 2,600, is one of four towns under consideration and local officials tell us they’re hopeful. If Glenrock gets the nod, the lost jobs from the coal plant would be replaced just one year after it closes. The nuclear plant is tentatively scheduled to open in 2028.
DailyHum News
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China’s Luxury Retirement Homes Draw Millions From Investors
Business

Jul.28 -- Ding Hui, China managing director at Lendlease Corp. Ltd., discusses China’s shifting demographics the demand for high-end senior housing and his outlook for the real estate sector. He speaks on “Bloomberg Markets: China Open.”
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Starbucks shares fall on reduced China outlook
Business

Starbucks shares fell 3% in the after-hours session after the company lowered its sales growth forecast for China, its second-largest market outside the U.S.The Seattle-based coffee giant said its revenue soared 78% to $7.5 billion in the April-June period, an all-time high, as the impact of the coronavirus pandemic receded and customers flocked to its stores.The results beat Wall Street’s forecast of $7.3 billion, according to analysts polled by FactSet.Starbucks said its global same-store sales - or sales at locations open at least a year - jumped 73% from the same period last year. The pandemic hit Starbucks hardest in the April-June period last year, when many stores were closed and same-store sales tumbled 40%.Same-store sales jumped 83% in the U.S. in the fiscal third quarter. 
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Walmart's latest business: Selling its e-commerce tech to other retailers
Business

In this articleJust as Amazon Web Services is the profit center that powers much of Amazon's other businesses, Walmart CEO Doug McMillon has been increasingly interested in expanding his company's profit pools beyond its core retail business.Starting Wednesday, small- and medium-sized retailers can purchase the technology Walmart has developed to allow shoppers to buy items online and pickup the purchases at the store. These businesses also will be able to add products to Walmart's online marketplace with just a few clicks. To offer the suite of cloud-based services, Walmart has partnered with Adobe, which will sell the software through a subscription."When we started on the journey, Covid had just hit," said Anshu Bhardwaj, vice president of technology strategy and commercialization at Walmart Global Technology. "We reaped the benefits of getting on this omnichannel journey early on."
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'Bloomberg Surveillance' Full Show (07/26/2021)
Business

Jul.26 -- Tom Keene, Jonathan Ferro and Lisa Abramowicz have the economy and the markets "under surveillance" as they cover the latest in finance, economics and investment, and talk with the leading voices shaping the conversation around world markets. This show is simulcast worldwide on Bloomberg Television and Radio.
DailyHum News
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Google revenue surges as online advertising market thrives
Business

Google’s parent company flexed its digital dominance, reporting its highest quarter ever for sales and profit behind a gusher of online advertising from businesses vying for customers across reopened economies.The robust results showcased how Google has emerged stronger from a Covid-19 pandemic that accelerated e-commerce purchases, online food orders and streaming video consumption. The burst in digital activity led companies to pour marketing dollars into ads across Google search, Maps and YouTube, underscoring the pre-eminence of its products.Alphabet Inc. reported second-quarter revenue of $61.88 billion, an increase of 62% from a year earlier, when its unassailable ad business tumbled as the coronavirus crippled the economy. Profit more than doubled to $18.53 billion, with per-share earnings surpassing analysts’ expectations.
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China’s Escalating Property Curbs Underline Xi’s New Priority
Business

Jul.27 -- Property developers are among the biggest losers in China and Hong Kong on Tuesday. Analysts are expecting long-term restriction for the sector after Beijing’s efforts to tame prices were ramped up in the past week with several policy announcements. Bloomberg’s Lulu Chen reports on “Bloomberg Daybreak: Asia.”
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Imax China 'Very Focused' on Local-Language Content: CFO
Business

Jul.27 -- Imax China Holding Inc. Chief Financial Officer Jim Athanasopoulos, who is also the chief operating officer, discusses the company's financial results and outlook. The local unit of the world’s largest jumbo-screen cinema platform reported a net income for the first half of $19.2 million compared to a loss $35.2 million a year ago. Revenue increased to $53.4 million from $6.66 million. Athanasopoulos speaks on "Bloomberg Markets: Asia."
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Billionaire Jhunjhunwala 'Bullish' on India Stocks, Plans Budget Carrier
Business

Jul.28 -- Billionaire investor Rakesh Jhunjhunwala, who's known locally as India’s Warren Buffett, discusses the outlook for the country's stock market, and his plan to start a low-cost airline. Jhunjhunwala last month said annual equity returns from Indian stocks will be about five percentage points on top of the economic growth of 7%-10% in coming years. He speaks during the "India Focus" segment on "Bloomberg Markets: Asia."
DailyHum News
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Ted Williams reacts to prominent senator being assaulted
Business

Former D.C. police detective Ted Williams reacts to Boxer attack, surge in violent crime in cities on 'Fox Business Tonight.' Subscribe to Fox Business! https://bit.ly/2D9Cdse Watch more Fox Business Video: https://video.foxbusiness.com Watch Fox Business Network Live: http://www.foxnewsgo.com/
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Cuomo claims victory after DOJ drops COVID probe
Business

New York Post columnist Karol Markowicz joins 'Kennedy' to discuss the FBI's decision to drop a civil probe regarding NY governor's handling of nursing home COVID death data. #FOXBusiness #Kennedy Subscribe to Fox Business! https://bit.ly/2D9Cdse Watch more Fox Business Video: https://video.foxbusiness.com Watch Fox Business Network Live: http://www.foxnewsgo.com/
DailyHum News
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Navigating Through China’s Markets
Business

Jul.27 -- Winston Ma, adjunct professor at NYU School of Law, discusses the selloff in Chinese equities, his investment strategy and where he’s finding opportunity. He speaks on “Bloomberg Daybreak: Asia.”
DailyHum News
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Activision Blizzard CEO sends letter to employees, admits ‘tone deaf’ response
Business

Bobby Kotick, the CEO of Activision Blizzard, sent a letter to employees on Tuesday acknowledging that the company’s initial response to a discrimination lawsuit filed in California was "tone deaf," and assured his team that steps have already been taken to ensure a "safe and welcoming work environment."Kotick, who has reportedly faced criticism over his pay package of more than $150 million in 2020 while the company laid off employees, wrote in the letter that there is "no place anywhere at our Company for discrimination, harassment, or unequal treatment of any kind."Shares of the company fell more than 7% on Tuesday as a growing number of former and current employees signed a petition condemning the video game giant's response to a lawsuit from California's Department of Fair Employment and Housing as "abhorrent and insulting." 
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Deutsche Bank 2Q profit beats analysts forecasts
Business

By Mauro Orru Deutsche Bank AG posted profit ahead of analysts' estimates for the second quarter as provisions for credit losses plummeted since customers...
DailyHum News
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Xi Faces Spiraling Evergrande Crisis
Business

Jul.27 -- The China Evergrande Groupsaga is quickly becoming the biggest financial worry in a nation with no shortage of financial concerns even as the Chinese tech selloff grabs global attention. Bloomberg’s Rebecca Choong Wilkins reports on “Bloomberg Daybreak: Asia.”
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