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Business

iRobot Files for Bankruptcy Amid Rising Costs and Plummeting Valuation
Business
2ย days, 18ย hours ago

iRobot Files for Bankruptcy Amid Rising Costs and Plummeting Valuation

iRobot, the US-based manufacturer of the popular Roomba smart vacuum cleaner, has filed for bankruptcy protection under Chapter 11, citing increased competition from Chinese rivals and tariffs that have driven up costs by $17.2 million this year. The

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US Oil Blockade on Venezuela: A Devastating Blow to Maduro's Economy
Business
1ย day, 6ย hours ago

US Oil Blockade on Venezuela: A Devastating Blow to Maduro's Economy

The US oil blockade on Venezuela, announced by President Donald Trump, threatens to devastate the country's economy, which relies heavily on oil exports for over 80% of its foreign exchange revenues. Analysts predict the blockade could lead to hyperi

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Trump's Venezuela Deal Revision Boosts Sanctioned Businessman Amid Maduro's Oil Profits
Business
12ย hours, 37ย minutes ago

Trump's Venezuela Deal Revision Boosts Sanctioned Businessman Amid Maduro's Oil Profits

The Trump administration's revised deal with Chevron in Venezuela has inadvertently benefited a sanctioned businessman linked to the Maduro family, with his trading company selling approximately $500 million worth of crude oil from the Petroboscรกn fi

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Thames Water Halts ยฃ2.5 Million in Senior Manager Bonuses Amid Pollution Concerns
Business
2ย days, 12ย hours ago

Thames Water Halts ยฃ2.5 Million in Senior Manager Bonuses Amid Pollution Concerns

Thames Water, the UK's largest water and sewage company, has deferred ยฃ2.5 million in bonuses for its senior managers, citing pressure to refrain from rewarding staff amidst the company's poor environmental performance. This move follows a pause on m

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Trump's Crypto Embrace Sparks Market Frenzy
Business
18ย hours, 37ย minutes ago

Trump's Crypto Embrace Sparks Market Frenzy

President Trump's enthusiastic endorsement of cryptocurrency has unleashed a frenzy of activity, with publicly traded companies accumulating vast quantities of digital currencies in a bid to attract investors. However, this strategy has backfired, wi

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Bank of England Cuts Rates to 3.75% in 5-4 Vote Amid Economic Concerns
Business
12ย hours, 33ย minutes ago

Bank of England Cuts Rates to 3.75% in 5-4 Vote Amid Economic Concerns

The Bank of England has reduced interest rates to 3.75%, the lowest level in nearly three years, in a 5-4 vote, citing concerns over rising unemployment and weak economic growth. This move is expected to benefit borrowers, with approximately 500,000

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Inflation Eases to 2.7% in November as Affordability Concerns Persist
Business
6ย hours, 20ย minutes ago

Inflation Eases to 2.7% in November as Affordability Concerns Persist

US inflation eased to 2.7% in November, down from 3% in September, as grocery prices rose 1.9% year-over-year, according to the Labor Department's latest report. The moderation in inflation comes as the labor market slows, with the US adding just 64,

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Christmas Dinner Prices Rise Amid Turkey and Sprout Cost Hike
Business
33ย minutes ago

Christmas Dinner Prices Rise Amid Turkey and Sprout Cost Hike

A traditional Christmas dinner with turkey and trimmings is expected to cost ยฃ32.45 this year, a 4% increase from last year's ยฃ31.21, driven by higher prices for turkeys and Brussels sprouts due to supply chain disruptions and weather-related crop lo

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Coinbase Expands into Traditional Finance with Stock Trading and Predictive Markets
Business
1ย day ago

Coinbase Expands into Traditional Finance with Stock Trading and Predictive Markets

Coinbase has expanded its platform to include stock trading, allowing users to buy and sell equities alongside cryptocurrencies, in a move that marks the company's significant foray into the broader financial sector. The introduction of stock trading

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Bank of England Cuts Rates in Surprise Move to Boost Holiday Economy
Business
6ย hours, 34ย minutes ago

Bank of England Cuts Rates in Surprise Move to Boost Holiday Economy

The Bank of England's "Santa rate cut" is expected to have a moderate impact on the economy, with a 0.5% reduction in interest rates, following Governor Andrew Bailey's statement that the UK has "passed the peak of inflation" and is on track to meet

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Coinbase Expands into Traditional Finance with Stock Trading and Prediction Markets
Business
18ย hours, 22ย minutes ago

Coinbase Expands into Traditional Finance with Stock Trading and Prediction Markets

Coinbase, a leading cryptocurrency exchange, has expanded its services by introducing stock trading and prediction markets through a partnership with Kalshi, marking a significant shift towards becoming a broader financial platform. The move, announc

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DEVELOPING: Central Bank Cuts Interest Rate to 3.75%, Further Reductions Hang in Balance
Business
10ย hours, 53ย minutes ago

DEVELOPING: Central Bank Cuts Interest Rate to 3.75%, Further Reductions Hang in Balance

The Bank of England has lowered its interest rate to 3.75%, the lowest level in nearly three years, in a 5-4 vote, citing concerns over rising unemployment and weak economic growth. This decision is expected to have a positive impact on inflation, wh

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DEVELOPING: Inflation Figure Reveals Surprising Economic Boost
Business
1ย day, 12ย hours ago

DEVELOPING: Inflation Figure Reveals Surprising Economic Boost

The UK's inflation rate has unexpectedly slowed to 3.2%, a significant decrease from its peak of 11.1% in October 2022, driven primarily by a decline in food prices, which rose by 4.2% in the year to November, down from 4.9% in October. This slowdown

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Trump Media to Merge with Nuclear Fusion Firm TAE Technologies in $6 Billion Deal
Business
24ย minutes ago

Trump Media to Merge with Nuclear Fusion Firm TAE Technologies in $6 Billion Deal

Trump Media Technology Group has agreed to a $6 billion merger with TAE Technologies, a nuclear fusion developer, in a deal that could either accelerate the launch of clean energy or capitalize on potential taxpayer investments in the first fusion pl

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Harvard Dropout and UC Berkeley Alum Raise $2M to Revolutionize Nonprofit Finances
Business
6ย hours, 28ย minutes ago

Harvard Dropout and UC Berkeley Alum Raise $2M to Revolutionize Nonprofit Finances

Givefront, a fintech startup founded by 21-year-old Harvard dropout Matt Tengtrakool and UC Berkeley's Aidan Sunbury, has secured $2 million in funding to develop a financial platform tailored to the needs of nonprofits. The platform aims to address

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Inflation Eases to 2.7% in November, Slowing from September Peak
Business
12ย hours, 20ย minutes ago

Inflation Eases to 2.7% in November, Slowing from September Peak

US inflation eased to 2.7% in November, a 0.2% decrease from September, driven by a 1.9% increase in grocery prices. The slowdown in inflation comes as the labor market shows signs of deceleration, with the US adding only 64,000 jobs in November. The

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1
US Oil Blockade on Venezuela: A Devastating Blow to Maduro's Economy
Business
1ย day ago

US Oil Blockade on Venezuela: A Devastating Blow to Maduro's Economy

The US oil blockade on Venezuela, announced by President Donald Trump, threatens to "devastate" the country's economy, which relies heavily on oil exports for over 80% of its foreign exchange revenues. The move could lead to hyperinflation, a weakene

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Inflation Eases to 2.7% in November Amid Growing Concerns Over Affordability
Business
21ย minutes ago

Inflation Eases to 2.7% in November Amid Growing Concerns Over Affordability

The US inflation rate cooled slightly in November, dipping to 2.7% from 3% in September, driven by a 1.9% increase in grocery prices. Despite this moderation, consumer prices remain 2.7% higher than a year ago, and 7 in 10 Americans report struggling

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Crash Test Dummies Fuel Growth at Humanetics as Automotive Safety Demand Surges
Business
2ย days, 12ย hours ago

Crash Test Dummies Fuel Growth at Humanetics as Automotive Safety Demand Surges

Humanetics, the leading manufacturer of automotive crash test dummies, has been refining its products to better replicate human responses in safety tests. The company's dummies, which undergo rigorous assembly and testing, have been instrumental in i

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DEVELOPING: Inflation Plunges Sharply as Food Prices Drop Faster Than Forecast
Business
1ย day, 16ย hours ago

DEVELOPING: Inflation Plunges Sharply as Food Prices Drop Faster Than Forecast

UK inflation unexpectedly plummeted to 3.2% in November, its lowest level in eight months, driven by sharp declines in food prices, particularly cakes, biscuits, and breakfast cereals. The 0.4 percentage point drop exceeded market forecasts, with foo

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