Cheema
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As traders were absorbing unpleasing earnings, Wall Street was headed toward another down week with U.S. stock futures plunging Friday.
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August’s consumer price index showed inflation increased by 0.1%. This indicated the pathway for the Federal Reserve to bring down inflation.
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Shares of FedEx plunged after the company said it is trying to reduce costs after weak shipping volumes.
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CEO Raj Subramaniam said in an interview that the loss in volume was wide-reaching and the company has witnessed weekly plunges.
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The White House has finally released a framework on cryptocurrency regulation in the U.S.
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The direction includes how the financial services industry should evolve to make borderless transactions easier.
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The framework observes an executive order.
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Bed Bath & Beyond announced that it would close 150 lower.
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In the last week of August, Bed Bath said that it secured more than $500 million in new financing ahead of the coming holidays.
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Kanye West is ending the contract between Yeezy, and Gap Inc. The partnership made headlines when it was declared openly in 2020.
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