US July retail sales rose 1.2%

July retail sales slightly lower than expected FOX Business’ Cheryl Casone reviews the July retail sales report. U.S. households boosted retail spending 1.2% in July, the third straight monthly increase despite a rise in coronavirus infections, the Commerce Department reported Friday. Continue Reading Below Retail sales—covering spending at service stations, restaurants, stores, and online—grew briskly in May and June. GET […]

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Indonesia Sees Solid Post-Pandemic Recovery in 2021

Follow Bloomberg on LINE messenger for all the business news and analysis you need. Indonesia’s president said the economy will rebound next year and the fiscal deficit will narrow as the outlook improves from this year’s coronavirus pandemic. The economy is forecast to grow 4.5%-5.5% next year, while the fiscal deficit is expected to narrow to 5.5% from this year’s […]

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Bond Investors Stranded in Nigeria Risk Taking 100% Losses

Foreign investors tempted into buying Nigerian debt paying interest of 13% a year ago are unable to move their cash out of the country. Worse still, the rate that investors now earn for lending money to the government by purchasing 12-month Treasury bills has dropped to a 10-year low of 3.2%. On top of that, the local currency has twice […]

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WeWork gets new $1.1B commitment from SoftBank

Fox Business Flash top headlines for August 13 Fox Business Flash top headlines are here. Check out what’s clicking on FoxBusiness.com. The owner of money-losing shared office provider WeWork told employees on Thursday it has slashed its cash burn rate almost in half from the end of last year and obtained a $1.1 billion commitment in new financing from majority […]

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Charts Showing How a Shrinking Economy Hurts South African Banks

South Africa’s moribund economy is dealing a hammer blow to the country’s banks, which are facing profit declines of as much as 85%. The true extent of that pain will be laid bare when the lenders start releasing results next week in what is shaping up to be the worst earnings slump in at least 50 years. The following charts […]

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FAT Brands purchase of Johnny Rockets was in works for 'several years,' CEO says

Why did FAT Brands buy Johnny Rockets during a pandemic? FAT Brands CEO and president Andy Wiederhorn says coronavirus is a short-term crisis for the restaurant industry, and his company purchased Johnny Rockets for the long term. FAT Brands' acquisition of themed burger chain Johnny Rockets is a long-term investment, CEO and President Andy Wiederhorn told FOX Business Network's “Varney & Co” Thursday. Continue […]

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Stocks battle for record highs after coronavirus jobless claims fall below 1M

Why this market strategist recommends investing in industrial stocks right now Belpointe chief market strategist David Nelson and Wealth Enhancement Group Senior Vice President Nicole Webb on investing in coronavirus markets. U.S. equity markets were mixed Thursday morning after initial jobless claims fell below 1 million for the first week since coronavirus lockdowns began in mid-March. Continue Reading Below The […]

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Phillips 66 Is Latest Refiner to Shun Crude Oil in Favor of Fat

Phillips 66 became the latest in a string of U.S. refiners to announce plans to convert an oil refinery into a biofuel plant. The company’s 120,000 barrel-a-day Rodeo refinery near San Francisco will become the world’s biggest plant that makes so-called renewable diesel, as well as gasoline and jet fuel, out of used cooking oil, fats, greases and soybean oils. […]

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Stocks making the biggest moves midday: Tesla, Roku, Brinker International, Target & more

Check out the companies making headlines in midday trading.  Tesla — Shares of the electric carmaker jumped more than 9% after the electric carmaker announced late Tuesday a five-for-one stock split in a move to make its shares more accessible. However, nothing about the security fundamentally changes. The additional shares will be granted on August 28 to all those who hold the stock […]

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How Tesla made electric cars sexy

New York (CNN Business)Elon Musk’s electric car business exceeds the value of almost every company in the S&P 500, including some iconic American companies. Shares of Tesla (TSLA) were up 4% in midday trading Wednesday to a new record high of above $1,120 a share. At that price, Tesla’s market cap is nearly $210 billion. That makes Tesla the most […]

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