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US economy shrank in the first half of 2022, updated GDP figures confirm

The numbers: The US shrank in the first six months of the year, revised government figures confirm, and painted a picture of an economy buffeted by strong headwinds and tailwinds. Gross domestic product, the official scorecard of the economy, fell at a 0.6% annual clip in the second quarter, the Bureau of Economic Analysis said …

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Australian Job Vacancies Slip But Labor Market Still Tight

By James Glynn SYDNEY–Australian job vacancies fell in the three months to August, but the labor market remains tight. There were 471,000 job vacancies in August, a decrease of 10,000 from May, according to new seasonally adjusted figures from the Australian Bureau of Statistics. Despite the slide, job vacancies remained elevated in historical terms and …

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Snap Inc. stock outperforms market on strong trading day

Shares of Snap Inc. SNAP, +2.97% advanced 2.97% to $10.76 Wednesday, on what proved to be an all-around positive trading session for the stock market, with the NASDAQ Composite Index COMP, +2.05% rising 2.05% to 11,051.64 and the Dow Jones Industrial Average DJIA, +1.88% rising 1.88% to 29,683.74. This was the stock’s second consecutive day …

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Berkshire Hathaway Inc. Cl B stock outperforms market on strong trading day

Shares of Berkshire Hathaway Inc. Cl B BRK.B, +2.38% rallied 2.38% to $271.78 Wednesday, on what proved to be an all-around great trading session for the stock market, with the S&P 500 Index SPX, +1.97% rising 1.97% to 3,719.04 and the Dow Jones Industrial Average DJIA, +1.88% rising 1.88% to 29,683.74. This was the stock’s …

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Bond-market volatility touches one of highest levels since 2007-2009 financial crisis and recession

Volatility in the ordinarily sedate world of bonds climbed this week to one of the highest levels since the 2007-2009 financial crisis and recession. The ICE BofA MOVE Index, which tracks fixed-income volatility, soared to 158.12 as of Tuesday, the most recent data available, according to Refinitiv. That’s the highest since 2009, with the exception …

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Chip stocks and Apple supplier shares fall after reports of disappointing iPhone demand

Shares of semiconductor companies and Apple Inc. AAPL, +0.66% suppliers were broadly lower in premarket trading Wednesday, after Bloomberg reported overnight that Apple is dropping plans to boost iPhone production because an expected surge in demand did not materialize. The VanEck Semiconductor ETF SMH, +0.76% slumped 1.9%, with all equity components that have traded premarket …

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Hackers hijack Fast Company, send obscene push alert through Apple News

Many Apple News users received a push notification Tuesday containing racist and obscene language, the result of a hack. The offensive message came in a push alert around 8:18 pm Eastern from the account of business news magazine Fast Company, adding that “Thrax was here.” It was unclear exactly who Thrax was, or how many …

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Apple won’t boost production of iPhone 14 due to slower demand: report

Apple Inc. is dropping plans to boost production of its latest iPhones this year after lower-than-expected demand, according to a new report. Bloomberg News reported Tuesday night that an expected surge in demand failed to materialize. Citing sources familiar with the matter, Bloomberg said suppliers have been told to pull back from efforts to ramp …

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Berkshire Hathaway Inc. Cl B stock outperforms market on strong trading day

Shares of Berkshire Hathaway Inc. Cl B BRK.B, +0.44% inched 0.44% higher to $265.47 Tuesday, on what proved to be an all-around dismal trading session for the stock market, with the S&P 500 Index SPX, -0.21% falling 0.21% to 3,647.29 and Dow Jones Industrial Average DJIA, -0.43% falling 0.43% to 29,134.99. The stock’s rise snapped …

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