March 03, 2021

Business

DailyHum News
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House passes sweeping bill to overhaul policing
Business

Cheered on by President Joe Biden, House Democrats hustled Wednesday to pass the most ambitious effort in decades to overhaul policing nationwide, able to...
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Oil prices firm on prospect of OPEC+ maintaining supply cuts, drop in U.S. inventories
Business

Oil prices rose for a second straight session on Thursday, as the possibility that OPEC+ producers might decide against increasing output at a key meeting later in the day underpinned alongside a drop in U.S. fuel inventories.
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Tokyo Olympics Organizers to Decide on Overseas Spectators This Month
Business

Mar.03 -- Organizers of the Tokyo Olympics will decide later this month whether to allow spectators from overseas. The announcement comes as Japan may extend its second state of emergency by two weeks in the Tokyo region to fight the Covid-19 pandemic. Sophie Jackman reports on "Bloomberg Daybreak: Australia."
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Australian Strategic Materials: Inquiries for Rare Earths Increasing
Business

Mar.03 -- David Woodall, managing director of Australian Strategic Materials Ltd., discusses the demand-and-supply outlook for rare earths and his company's strategy. Australian Strategic Materials’ cornerstone Dubbo Project is a proven long-term resource of rare earths, zirconium, niobium and hafnium located in central-western New South Wales. U.S. President Joe Biden has an ambition to make the country less dependent on other nations including China for rare earths and minerals critical to the clean energy transition. Woodall speaks with Haidi Stoud-Watts and Shery Ahn on "Bloomberg Daybreak: Australia."
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Cuomo claiming ignorance of sex harassment law 'unacceptable': Lawmaker
Business

Democrat Assemblyman Angelo Santabarbara calls for the resignation of the New York governor over allegations. #FoxBusiness 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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Stimulus check eligibility update: Here are the winners and losers, according to the latest plan
Business

Wondering where your next stimulus check is hiding? Excellent question! It is currently in legislative purgatory between the House and the Senate. The House passed the latest bill for coronavirus relief last weekend; the Senate is expected to vote soon on its own version of the bill, possibly this week. That vote-a-rama will be quite a show: Republicans will feed the Senate amendments for endless hours, aiming to reveal splits among Democrats on key issues, as well as create content for future political ads. The main battlefields will be topics such as raising the federal minimum wage to $15.The good news is, Congress has all but signed off on this third round of stimulus checks, which have bipartisan support. But this time around, the eligibility requirements are a little different than they were with the previous payments. Some new groups get to join in on the windfall, while others will miss out. Here’s what we know so far:
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Emergent BioSolutions says it can make 1 billion Covid vaccine doses annually
Business

As the U.S. makes headway in its coronavirus vaccination campaign, Emergent BioSolutions CEO Bob Kramer appeared on CNBC Wednesday to explain his company's role in manufacturing doses.The Gaithersburg, Maryland-based contractor last year landed a multi-year deal to be the domestic producer of the Covid-19 vaccine from Johnson & Johnson, whose single-dose shot was cleared for use in the U.S. over the weekend. It also has a multi-year contract production contract for a vaccine developed by a British-Swedish biopharmaceutical company, AstraZeneca."We're now at the point where we have this infrastructure in place and we're producing on a daily basis, 24/7, both AZ and the J&J products," Kramer told Jim Cramer in a "Mad Money" interview. "We are operating at a level where our capacity is well in access of 1 billion doses annually for those products."
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Why Rocket Companies Stock Crashed Today
Business

Rocket Companies (NYSE:RKT) plunged 33% on Wednesday after analysts warned that the stock had come too far, too fast. Rocket's share price surged more than 70% on Tuesday in what appeared to be another Reddit-fueled short squeeze. Yet late last night, RBC Capital analyst Daniel Perlin cut his rating on Rocket's stock from outperform to sector perform and reiterated his $30 price forecast. That was 28% below where Rocket's stock closed yesterday. Perlin argued that the risk-to-reward potential for investors was "now more balanced, if not skewed to the downside" following the stock's rapid ascent. Analysts at JPMorgan went even further. "In light of the sharp rise in share prices, we believe fundamental investors should take profits," JPMorgan strategist Richard Shane said on Wednesday morning. 
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Wendy's CEO expects to hit 10% digital sales goal three years ahead of schedule
Business

The coronavirus pandemic pushed American businesses to leverage the internet to reach consumers and the same can be said for Wendy's.With the help of its loyalty program, the fast-food chain's digital arm is on its way to make up a larger share of the company's total sales well ahead of schedule, according to CEO Todd Penegor, who appeared on CNBC Wednesday.The company now expects digital to make up 10% of sales in 2021."We didn't think we'd get to 10% until 2024, pre-pandemic," Penegor told Jim Cramer in a "Mad Money" interview. "What we're doing is driving a lot of active users into our app and people are engaging in the app. We're seeing a lot more mobile ordering and it's really because there's a benefit."
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U.S. judge rejects SEC bid to expand Rio Tinto fraud lawsuit on Mozambique coal business
Business

A U.S. judge on Wednesday quashed a bid to widen the scope of a civil lawsuit by the U.S. Securities and Exchange Commission that accused miner Rio Tinto of fraud at its Mozambican coal business, a court filing showed.
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Texas begins naming electricity firms overdue on winter crisis bills
Business

Eight energy companies have failed to pay nearly $1 billion for power and services during February's deadly power blackout in Texas, the state's grid operator said this week, and the costs are likely to fall on consumers.
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Jeep is open to dropping Cherokee name, says CEO
Business

The chief executive of Jeep's owner said he is open to dropping the Cherokee name after recent criticism from the Native American tribe's leadership.Carlos Tavares, chief executive officer of the recently formed Stellantis NV, said the company was engaged in dialogue with the Cherokee Nation over its use of the name. Jeep has two models, the Cherokee compact sport-utility vehicle and larger Grand Cherokee, that it sells in the U.S. and beyond.JEEP WRANGLER COULD SET SALES RECORDAsked in an interview if he would be willing to change the Jeep Cherokee's name if pushed to do so, Mr. Tavares said, "We are ready to go to any point, up to the point where we decide with the appropriate people and with no intermediaries.""At this stage, I don't know if there is a real problem. But if there is one, well, of course, we will solve it," Mr. Tavares said, adding that he wasn't personally involved in the talks.
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Sen. Marsha Blackburn calls COVID-19 stimulus bill 'Biden bailout'
Business

Tennessee Republican praises Operation Warp Speed and criticizes COVID-19 relief bill spending. #FoxBusiness 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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SpaceX Biggest Rocket Pulls Off Landing, Then Explodes
Business

Mar.03 -- Space Exploration Technologies Corp.’s newest and biggest rocket pulled off its first successful landing, then exploded a brief time later. (Source: NASA)
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Disney to close at least 60 retail stores in North America
Business

Walt Disney Co. announced Wednesday it will close at least 60 Disney Stores throughout North America this year. The company said it would focus more on...
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Cramer's lightning round: Groupon is a reopening stock
Business

Invitae: "I've got to do more work on it."McDonald's: "They have been inconsistent of late, OK, and the inconsistency is driving people crazy. It yields 2.5%. When it gets to 3% — even if it's inconsistent — I'm going to say buy."Facebook: "Can the stock get cheaper? Of course, it can. Is it inexpensive on its growth rate? Yes, it is."Groupon: "It's a reopening stock. It's a local reopening stock, and there's not that many of those and it is one of them that works."Disclosure: Cramer's charitable trust owns shares of Facebook.DisclaimerQuestions for Cramer? Call Cramer: 1-800-743-CNBCWant to take a deep dive into Cramer's world? Hit him up! Mad Money Twitter - Jim Cramer Twitter - Facebook - Instagram
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Companies with the worst numbers suddenly have the best stocks, Jim Cramer says
Business

Strong stocks are in free fall and beaten-down names are on the rise as market players adjust their portfolios to take advantage of a potentially sharp economic recovery, CNBC's Jim Cramer said Wednesday."That's thanks to J&J (Johnson & Johnson), Moderna and Pfizer," the "Mad Money" host said. "We're on the cusp of a post-Covid boom that now looks to be pushed forward happening much sooner than expected." Cramer added that money managers "now want the obvious reopening plays, the ones that are in terrible shape, but could be huge winners as the world goes back to normal."With the U.S. economy expected to break free from the severe decline it suffered last year, stocks of companies in cyclical industries are having their day largely at the expense of the high-flying growth and tech stocks that rallied through the pandemic. Cramer said investors are pouring money into airlines, cruise lines, hotels and non-essential retailers and diverting funds from the pandemic winners.
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Amazon eyes $1 billion NFL payout for exclusive rights to some Thurs. night games
Business

The National Football League and Amazon are in talks for the e-commerce giant's streaming service, Prime Video, to carry multiple Thursday Night Football games exclusively, people familiar with the matter told the Wall Street Journal.The deal, if agreed upon, could cost the tech giant $1 billion per season.DRAFTKINGS, DISH DEAL SEEN AS BET AGAINST FUBOTV AS STREAMER'S STOCK TUMBLESAmazon has held streaming rights for Thursday Night Football since 2017 for a reported rights fee of $75 million per season. Those games though have been shared with other NFL television broadcast partners. If Amazon and the NFL make this deal, the agreed-upon Thursday night games would not be available on traditional television with the exception of the local markets of the two teams playing. A similar arrangement is in place for "Monday Night Football" which airs on cable's ESPN.
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Senate Democrats delay introduction of Biden's $1.9 trillion COVID-19 aid bill
Business

The U.S. Senate delayed the start of debate on President Joe Biden's $1.9 trillion COVID-19 relief bill until at least Thursday after reaching a deal to phase out $1,400 payments to higher-income Americans in a compromise with moderate Democratic senators.
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