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(Bloomberg) — Florida is in a state of emergency after downpours flooded Miami streets, soaked Fort Lauderdale with its rainiest June day ever, grounded lots of of flights and compelled officers to situation uncommon emergency flood warnings. And on Thursday extra rain is on the way in which, doubtless pushing losses over $1 billion. Most Learn from Bloomberg Within the …

By Helen Reid LONDON (Reuters) – Quick trend retailer Shein, identified for its China-made $5 tops and $10 attire, has hiked costs by over a 3rd on some core merchandise, in a transfer more likely to enhance revenues forward of its deliberate IPO, in response to an evaluation of its pricing technique. Shein’s common value hikes exceeded these of its …

By Foo Yun Chee BRUSSELS (Reuters) – Alphabet’s Google was hit with a criticism by Austrian advocacy group NOYB on Thursday for allegedly monitoring customers of its Chrome Internet browser, a problem already on EU antitrust regulators’ radar. The U.S. tech big is phasing out using third-party cookies that advertisers use to trace shoppers to be able to shield client …

By David Randall and Lewis Krauskopf NEW YORK (Reuters) – Smooth touchdown hopes which have powered U.S. shares this yr obtained a lift following encouraging inflation information and a nod from the Federal Reserve at progress made in preventing shopper costs. Expectations for a so-called comfortable touchdown, through which the Fed is ready to tame inflation and ultimately lower rates …

(Reuters) – – Labor talks at U.S. ports on the East Coast and Gulf of Mexico are a looming threat for retailers, producers and different shippers already grappling with longer transit instances and better prices. The Worldwide Longshoremen’s Affiliation contract protecting 45,000 dockworkers at three dozen ports stretching from Maine to Texas expires on Sept. 30. If there isn’t a …

HONG KONG (Reuters) – China hopes the European Union will critically rethink tariffs for Chinese language EVs and cease going additional within the “flawed route”, based on a commentary in state-backed information Xinhua. The assertion comes after the European Fee stated on Wednesday it is going to impose further duties of as much as 38.1% on imported Chinese language electrical …

Wall Avenue cheered the most recent inflation report, which confirmed costs rose lower than anticipated from April to Might. Shares jumped a quick 1% on the information. Customers needs to be cheered, too. One month’s value of financial numbers received’t routinely ease the strain on the household price range, however one vital development is convincingly going the best path: Inflation …

By Jonathan Stempel (Reuters) – A brand new lawsuit accuses Conagra Manufacturers of deceiving shoppers by “quick weighting” its Mrs. Paul’s and Van de Kamp’s frozen fish merchandise and falsely claiming they’re “100% complete fish.” In a proposed class motion filed on Tuesday in Chicago federal courtroom, three shoppers mentioned Conagra artificially boosts the load of 10 fish stick and …

DALLAS (AP) — The CEO of Southwest Airlines mentioned Wednesday he is not going to resign within the face of strain from a hedge fund that desires him fired and that his management workforce will produce its personal plan to spice up the airline’s financial performance. CEO Robert Jordan mentioned Southwest will current its plan in September. He declined to …

(Bloomberg) — Within the months earlier than Archegos Capital Administration imploded in March 2021, buying and selling was nearly nonstop. Considered one of Invoice Hwang’s merchants made the error of stepping away to make use of the lavatory when a inventory he was watching started to maneuver. Most Learn from Bloomberg “Invoice yelled at us,” former Archegos head dealer William …