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Billionaire philanthropist MacKenzie Scott files for divorce from her second husband

Second time was not the charm. MacKenzie Scott filed for divorce from her second husband, Dan Jewett, on Monday after less than two years of marriage. According to documents obtained by the New York Times, Jewett did not contest the divorce and the division of property has already been determined in a prenuptial agreement. The …

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Here’s a simple way to help teach your kids some complex financial lessons

During my late teens, my mom handed me two worn, blue passport-size books with details of my custodial investment accounts. I had no clue what to do with them, but it didn’t matter, because the accounts were empty anyway. Perhaps for the best, because I’m almost certain my assets wouldn’t have stood a chance. I …

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Hackers hijack Fast Company, send obscene push alert through Apple News

Many Apple News users received a push notification Tuesday containing racist and obscene language, the result of a hack. The offensive message came in a push alert around 8:18 pm Eastern from the account of business news magazine Fast Company, adding that “Thrax was here.” It was unclear exactly who Thrax was, or how many …

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Apple won’t boost production of iPhone 14 due to slower demand: report

Apple Inc. is dropping plans to boost production of its latest iPhones this year after lower-than-expected demand, according to a new report. Bloomberg News reported Tuesday night that an expected surge in demand failed to materialize. Citing sources familiar with the matter, Bloomberg said suppliers have been told to pull back from efforts to ramp …

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US stock futures dip, dollar rises as Italian election results add to uncertainty

US stock-index futures fell late Sunday, suggesting losses Monday, as the projected victory of a far-right party in Italy added to uncertainties about rising interest rates and recession fears. After falling nearly 200 points earlier in the session, Dow Jones Industrial Average futures YM00, -0.93% were down about 150 points, or 0.5%, around midnight Eastern, …

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The stock market could be on the verge of a ‘tradeable’ rebound, according to a key technical indicator

Heading into the close on Monday, US stocks appear poised for another difficult week as Treasury yields rose and the dollar’s global rampage continued. With the S&P 500 poised to record its lowest close since November 2020 on Monday, market technicians were once again focusing on the Cboe Volatility Index — along with a host …

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First thing Fed breaks with higher rates will be the financial markets, BMO says

The Federal Reserve is the proverbial bull in the china shop, prepared to create damage with higher interest rates to bring down the hottest inflation spell of the past 40 years. The first thing that will break is the financial markets, “as currently unfolding,” BMO Capital Markets economists Michael Gregory and Sal Guatieri said in …

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“An economy struggling in a stagflationary environment”, says S&P Global on US business activity

The numbers: US companies said business activity perked up in September largely because of an increase in new customer orders, but high inflation and lingering supply shortages posed obstacles to growth prospects. The S&P Global US manufacturing sector index edged up to 51.8 this month from a two-year low of 51.5 in August, based on …

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I’m the chief economist of the National Association of Home Builders. These are the 5 things you need to know about the housing market now

Robert Dietz National Association of Home Builders Many aspiring homebuyers are watching as home prices begin to fall and wondering: What do I need to know about the housing market now? (See the lowest mortgage rates you may qualify for here.) So we asked Robert Dietz these questions. Since joining the National Association of Home …

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