Financial Markets
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News
The average bonus on Wall Street last year was $176,500, down slightly from 2022
NEW YORK — The average Wall Street bonus fell slightly last year to $176,500 as the industry added employees and…
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Saudi oil giant Aramco announces $121 billion profit last year, down from 2022 record
DUBAI, United Arab Emirates — Saudi oil giant Aramco on Sunday reported it made $121 billion in profit last year,…
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Macy’s to close 150 stores as it pivots to luxury at Bloomingdale’s and Blue Mercury
NEW YORK — Macy’s will close 150 unproductive namesake stores over the next three years including 50 by the end…
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Warren Buffett uses his annual letter to warn about Wall Street and recount Berkshire’s successes
OMAHA, Neb. — Warren Buffett credited his longtime partner — the late Charlie Munger — with being the architect of…
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Trial to determine whether JetBlue can buy Spirit comes to a head
BOSTON — A lawyer for JetBlue Airways said Tuesday that the biggest U.S. airlines are using their size to cement…
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Buffett’s firm reports $12.8B loss as investments fall, its insurers performed well
OMAHA, Neb. — Warren Buffett’s company has reported a nearly $13 billion loss in the third quarter as the paper…
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McDonald’s promotions lure diners despite higher menu prices and revenue jumps 14%
McDonald’s reported better-than-expected sales in the third quarter, as popular promotions brought in customers despite higher U.S. prices ByDEE-ANN DURBIN…
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Billionaire Ryan Cohen takes over as CEO at GameStop
Billionaire Ryan Cohen, the largest individual investor in GameStop, is taking over as CEO at the video game retailer. Cohen…
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Bud Light, top US seller since 2001, loses sales crown to Modelo as backlash continues
After more than two decades as America’s best-selling beer, Bud Light has slipped into second place. Modelo Especial, a Mexican…
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Oil giant Saudi Aramco’s 1st quarter profit down 20% to $31B
DUBAI, United Arab Emirates — Oil giant Saudi Aramco reported a first-quarter profit on Tuesday of $31.88 billion, down nearly…
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