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Michael Bloomberg and Bill Gates have made significant donations to Kamala Harris's presidential campaign, contributing $50 million each to Future Forward USA Action. This marks a notable shift in their political engagement as they respond to concerns over a potential second Trump presidency, with both billionaires historically cautious about political donations.
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Starbucks is implementing a strict hybrid work policy requiring corporate employees to be in the office three days a week, with potential job loss for non-compliance. This move, led by new CEO Brian Niccol, aims to improve operational efficiency amid declining sales. The policy will take effect in January 2025.
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Recent earnings reports from major companies reveal a mixed outlook, with some exceeding expectations while others fall short. Notable performances include ASML's bullish long-term revenue forecast and Deutsche Telekom's profitability growth, while Instacart and Pinterest face challenges in meeting earnings expectations.
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JPMorgan Chase has filed lawsuits against customers who exploited a technical glitch to withdraw funds from ATMs before checks cleared. The bank claims these actions amount to fraud, seeking over $660,000 in damages across multiple federal courts as it aims to hold individuals accountable for their actions.
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As of October 31, 2024, Asian markets, particularly in India and Japan, are experiencing shifts in investor sentiment due to political instability and renewed interest in China's stock market following a stimulus package. This change raises concerns about the sustainability of previous market rallies.
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The weight-loss drug market is evolving with new entrants like Wegovy and Mounjaro gaining traction. Novo Nordisk's Wegovy is now available in China, while Eli Lilly's Mounjaro has been approved in Hong Kong. The competition intensifies as biotech firms develop innovative treatments amid rising demand for obesity management.
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Following Donald Trump's re-election, he has pledged to impose significant tariffs on imports, particularly targeting China. This has prompted global companies to reconsider their supply chains, with many seeking alternatives to Chinese manufacturing. The potential economic repercussions are being felt across various sectors, especially in Southeast Asia.
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Following Ukraine's cross-border strikes into Russia, U.S. markets experienced a downturn, with major indexes dropping by 1%. Investors are also closely watching Nvidia's upcoming earnings report amid rising geopolitical tensions and concerns over stock market volatility.
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Donald Trump's recent election victory is prompting significant changes in global economic strategies. Countries and companies are adjusting their supply chains and defense spending in anticipation of his protectionist policies, particularly regarding tariffs on imports from China and other nations. This shift could reshape international trade dynamics.