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The race to succeed Jamie Dimon at the helm of JPMorgan Chase just entered a new stretch — and it’s being led by a pair of female bankers. In an internal memo Tuesday, Chairman and Chief Executive Dimon named Marianne Lake, the Wall Street giant’s CEO of consumer lending; and Jennifer Piepszak, the bank’s chief...
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Walmart raised its full-year earnings forecast on Tuesday and beat estimates for same-store sales as it benefited from additional stimulus checks that put more money in consumers’ pockets and boosted demand for apparel and electronics. Sales at US stores open at least a year rose 6 percent, excluding fuel, in the first quarter ended April...
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Bill Gates has transferred $850 million more in stock to his estranged wife, Melinda, amid their split after 27 years of marriage. The Microsoft co-founder transferred 2.25 million shares of the equipment manufacturer, Deere, to Melinda through his investment firm on Thursday, the Wall Street Journal reported. Cascade Investment, a holding company that Gates formed to...
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Univision Communications, the largest Spanish-language media company in the US, says advertisers have overlooked Hispanic American audiences for far too long, and it will announce new programming and features on Tuesday to draw more marketers to Univision and its audience. Its presentation during the “Upfronts,” an annual event where major TV broadcasters preview the fall television season to...
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Michael Burry, who shot to fame for predicting and profiting off of the 2008 subprime mortgage crisis, has revealed a more than half-a-billion-dollar bet against Elon Musk’s Tesla. Burry’s firm, Scion Asset Management, said Monday in a regulatory filing that it owned puts against 800,100 shares of Tesla as of March 31 with a total...
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Macy’s emerged from an unprecedented year with a surprising swing back into the profit column and it boosted its guidance for all of 2021. Sales were fueled by government stimulus checks and the massive rollout of vaccines that have emboldened Americans to head outdoors again, the company said. “Clearly our customer is ready to get...
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The Colonial Pipeline communication system reportedly went down Tuesday, nearly a week after the fuel company recovered from a crippling cyberattack that sparked panic buying and gas shortages. Two market sources familiar with the system said the company’s so-called nomination system was shut on Tuesday, leaving shippers unable to plan fuel shipments, Reuters reported. It’s...
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Italian supercar maker Lamborghini will give up the roar of a combustion engine for the purr of an electric motor. The Volkswagen-owned luxury brand announced Tuesday that it will transition its fleet of cars to hybrid vehicles this decade, culminating with the debut of its first fully electric car by the end of the decade. ...
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