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SEE IT: President-elect Trump at the NYSE

President-elect Donald Trump on Thursday morning visited the New York Stock Exchange and rang the opening bell to kick off trading.  His visit to the NYSE occurred the same day that Time magazine declared him the “Person of the Year” for 2024. He was previously “Person of the Year” in 2016.  TRUMP RINGS OPENING BELL

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Macy’s gives update on employee who hid $151M

Macy’s provided an update on the former employee who was responsible for hiding approximately $151 million of cumulative delivery expenses over the past three years.  “We’ve concluded our investigation and are strengthening our existing controls and implementing additional changes designed to prevent this from happening again and demonstrate our strong commitment to corporate governance,” Macy’s

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Walgreens could ‘aggressively’ cut costs if privately owned, analyst says

If Walgreens Boots Alliance Inc. is bought by private equity firm Sycamore Partners, it would have more flexibility to “aggressively” reduce costs in order to address persisting industry challenges, according to an industry analyst.  “As a private company, WBA [Walgreens Boots Alliance] would have more flexibility to make major changes to the business, in our

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Macy’s ends delivery expense investigation, saying employee hid $151 million

The department store operator slightly raised its full-year forecast, while still projecting a sales decline. ​Read More

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Crypto lobby targets SEC’s Crenshaw ahead of Senate committee vote

The crypto industry is mounting a vigorous effort to block the renomination of Securities and Exchange Commissioner Caroline Crenshaw as the Senate Banking Committee gears up to vote for her appointment to a second term at Wall Street’s top regulator. Crenshaw, a Democrat, was appointed to the commission in 2020 by then-President Trump, and renominated by Biden.

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Macy’s activist investors want the retailer to make significant changes

Macy’s is facing calls from a pair of activist investors to make a slew of changes at the department store chain.  The activist investors, Barington Capital Group and Thor Equities, took issue with Macy’s capital allocation strategy in a Monday presentation while simultaneously arguing the department store chain should consider some “structural actions” for its

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Federal judge blocks Kroger’s $25B acquisition of Albertsons

A federal judge on Tuesday blocked the proposed $25 billion merger between Albertsons and Kroger, agreeing with the Federal Trade Commission (FTC) that the deal would undermine competition in the grocery industry. U.S. District Judge Adrienne Nelson said that the plan put forward by the two companies to reduce grocery prices and divest more than

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Microsoft shareholders vote against company investing in bitcoin

Microsoft shareholders on Tuesday voted down a proposal that would’ve seen the tech giant explore investing in bitcoin as a means of diversifying its assets. The proposal, which was put forward by a conservative think tank known as the National Center for Public Policy Research, would have directed Microsoft’s board to conduct an assessment about

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Gas prices hit a 3-year low – where are they headed next?

Drivers are getting relief at the pump this week as the average cost for a gallon of regular gasoline in the U.S. reached a three-year low. AAA’s tracker for national average gas prices Tuesday morning indicated the cost of a gallon of regular-grade gas was $3.01. Andrew Gross, a spokesperson for the organization, said the

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Oracle shares head for worst day of 2024 after earnings miss

Oracle shares fell on Tuesday following disappointing quarterly results from the database software company. ​Read More

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