Michael Burry loads up on Alibaba stock: should you buy it too?
“Big Short” investor Michael Burry raised his stake in Alibaba Group Holdings Ltd (NYSE: BABA) by 30% in the third quarter. He expects the tech stock to rally on the…
Investing
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GM lays off 1,000 employees as part of cost-cutting and realignment effort
General Motors (GM) laid off approximately 1,000 employees on Friday as part of a broader effort to reduce costs and realign its priorities in response to shifting market conditions, according…
Mauritius president appoints Rama Krishna Sithanen as central bank governor
PORT LOUIS (Reuters) – Mauritius President Prithvirajsing Roopun appointed Rama Krishna Sithanen as governor of the central bank on Friday, following a general election last weekend that was won by…
Rescinding US EV tax credit would cede ground to China, Granholm says
BAKU (Reuters) – Cancelling the U.S. electric vehicle tax credit would be counterproductive and cede ground to car-makers in China, U.S. Energy Secretary Jennifer Granholm told reporters on Friday at…
Strong US data continues reshaping Fed views of pace, extent of rate cuts
By Howard Schneider WASHINGTON (Reuters) – Strong U.S. economic and inflation data on Friday continued reshaping the debate among Federal Reserve policymakers over the pace and extent of interest rate…
EM stocks see largest foreign monthly outflow since 2020, bonds hang on
By Rodrigo Campos (Reuters) -Foreign investors sold out of emerging market stocks in October by the most since the COVID-19 market sell-off in early 2020, but inflows to EM bonds…
US industrial production sags in October amid continued drag from Boeing strike, hurricanes
WASHINGTON (Reuters) – U.S. industrial production fell for a second straight month in October, continuing to be depressed by hurricanes and a strike by factory workers at Boeing (NYSE:BA), but…
Exclusive-JPMorgan weighs London HQ options as it outgrows Canary Wharf tower, sources say
By Iain Withers LONDON (Reuters) -JPMorgan is assessing options for its European headquarters in London as the fast-expanding Wall Street bank outgrows its existing tower in London’s Canary Wharf financial…
Mexico has room to boost tax revenues without fiscal overhaul, president says
MEXICO CITY (Reuters) – Mexico has room to boost tax revenues next year without turning to a deep fiscal reform, President Claudia Sheinbaum said on Friday, as her government is…
US retail sales slightly above expectations in October
WASHINGTON (Reuters) – U.S. retail sales increased slightly more than expected in October, but underlying momentum in consumer spending appeared to slow at the start of the fourth quarter. Retail…