ESPN has officially ended its partnership with Penn Entertainment (NASDAQ: PENN) and named DraftKings Inc (NASDAQ: DKNG) as its new exclusive sportsbook partner. The announcement arrives just two years after ESPN Bet launched under a 10-year licensing deal with PENN. That agreement has now been scrapped – with Penn set to rebrand the sportsbook as […]
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US equities retreated on Thursday as artificial intelligence–linked stocks came under renewed selling pressure, weighing heavily on major indexes. The decline came as investors reassessed lofty valuations in the AI sector while digesting concerning labor market data that hinted at broader economic strain. The Dow Jones Industrial Average fell 287 points, or 0.6%, while the […]
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The South African rand, often seen as a bellwether for the emerging market currencies, has soared to the highest point since September last year. The USD/ZAR exchange rate has soared to a low of 17.14, down by over 14% from its highest point this year. Why the South African rand has soared. The South African […]
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The Zimbabwe ZiG currency has done relatively well this year, helped by the ongoing gold price rally, weaker dollar, and the higher interest rates by Zimbabwe’s central bank. ZIG, whose ticker symbol is ZWG, has remained at 26.70 in the past few months, slightly above the January 1 level of 25.6. Soaring gold price has […]
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The Japanese yen retreated on Friday as investors watched the new political developments in Japan’s political environment. The USD/JPY exchange rate dropped to 152.62, down from this week’s high of $153.45. Japanese yen rebounds as ruling coalition collapses The USD/JPY exchange rate has been in a strong uptrend this week as investors cheered to the […]
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On Friday, US stocks hit record highs amid favorable inflation data, while Ford Motor Company reported robust earnings that bolstered investor confidence. Meanwhile, political developments in New York and escalating military operations in the Caribbean underscored ongoing geopolitical and domestic dynamics. Jeffries endorses Mamdani in New York mayoral race House Minority Leader Hakeem Jeffries announced […]
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US stocks climbed on Monday as easing trade tensions between the United States and China boosted investor sentiment and fueled a broad market rally. Officials from both nations signaled progress toward a potential trade agreement later this week, setting the stage for a meeting between President Donald Trump and Chinese President Xi Jinping. The Dow […]
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Wall Street opened higher on Tuesday, extending its record-setting run as upbeat corporate earnings and optimism ahead of the Federal Reserve’s policy meeting buoyed investor confidence. Indexes climb to new highs on broad market strength US stocks rose to new all-time highs on Tuesday, driven by a fresh wave of encouraging earnings results. The S&P […]
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Tesla stock hovered near record levels on Wednesday, bolstered by renewed artificial intelligence optimism and a fresh round of bullish commentary from Wall Street. Shares of the electric-vehicle maker traded as high as $464.16 before easing to $460 in early trading, even as the S&P 500 and Dow Jones Industrial Average rose 0.3% and 0.4%, […]
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Elon Musk’s satellite venture Starlink has signed its first telecom partnership in the UK, joining forces with Virgin Media O2 (VMO2) to offer mobile connectivity through space-based technology. The deal marks a strategic shift in the British telecom market, aiming to close the coverage gap in rural and remote regions through the new “O2 Satellite” […]
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