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Dollar Rises Against Major Counterparts On Safe Haven Appeal
The U.S. dollar firmed against its major counterparts on Friday amid concerns about inflation and on Fed Chair Jerome Powell's congressional testimony that signaled more interest rate hikes from the U.S. central bank.
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Canadian Market Remains In Negative Territory, Set For Another Weak Close
The Canadian market is down firmly in negative territory Friday afternoon due to sustained selling at several counters, and looks set for another weak close.
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Swiss Market Ends Modestly Higher
The Switzerland stock market ended modestly higher on Friday, recovering well after very nearly falling into negative territory in late afternoon trades.
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European Stocks Close Lower Again On Rate Hike Concerns, Growth Worries
European stocks closed lower on Friday, extending recent losses, as interest rate hikes by several central banks, and some disappointing economic data weighed on sentiment.
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FDA Warns 189 Retailers For Illegal Sale Of Disposable E-cigarettes
The U.S. Food and Drug Administration has warned 189 retailers against unauthorized sales of two of the most popular disposable e-cigarettes in the U.S., specifically Elf Bar and Esco Bars brand e-cigarettes. These two flavored brands have high youth appeal for its unique flavors such as bubblegum and cotton candy.
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UK Private Sector Growth Weakest In 3 Months
The UK private sector expanded for the fifth straight month in June albeit at the slowest pace in three months as the upturn in services activity was largely offset by the contracting manufacturing sector, flash survey results from S&P Global showed on Friday. The Chartered Institute of Procurement & Supply flash composite output index dropped to 52.8 in June from 54.0 in May.
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Southwest Airlines Reaches Tentative Agreement With AMFA For Mechanics & Related Employees
Southwest Airlines Co. (LUV) and the Aircraft Mechanics Fraternal Association or AMFA, announced Friday that they have reached a Tentative Agreement (TA) for the airline's Mechanics & Related Employees.
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FDA OKs Elevidys As First Gene Therapy To Treat Duchenne Muscular Dystrophy
Sarepta Therapeutics, Inc. announced Friday that the U.S. Food and Drug Administration or FDA has accelerated approval of ELEVIDYS (delandistrogene moxeparvovec-rokl) for the treatment of ambulatory pediatric patients aged 4 through 5 years with Duchenne muscular dystrophy (DMD) with a confirmed mutation in the DMD gene.
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Eurozone Private Sector Moves Closer To Stagnation
The euro area private sector growth moved close to stagnation after the brief growth revival in the spring, survey results from S&P Global showed on Friday. The composite output index fell to 50.3 in June from 52.8 in May. This was the lowest reading since January and also remained below economists' forecast of 52.5, suggesting a considerable loss of growth momentum.
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Abcam To Initiate Process To Explore Strategic Alternatives, Including Potential Sale
Abcam plc (ABCM), a supplier of life science research tools, announced Friday that its Board of Directors has unanimously decided to initiate a process to explore strategic alternatives for the Company after having listened to and extensively engaging with shareholders.
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Euro Lower As Eurozone Private Sector Activity Slows
The euro was subdued on Friday, as PMI readings from Germany and Eurozone missed expectations in June, intensifying concerns about a slowdown in the economic growth.
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Bay Street Seen Opening Lower
Lower futures and weak crude oil prices point to a negative start on Bay Street on Friday.
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3M To Pay $10.3 Bln To Settle PFAS Claims; Sees Hefty Charge In Q2
3M Co. announced that it has reached an agreement to pay up to $10.3 billion over 13 years to settle lawsuits over hazardous chemical contaminated water supplies in the United States. The company expects to record a pre-tax charge of around $10.3 billion in the second quarter of 2023. In pre-market activity on the NYSE, 3M shares were gaining around 3.9 percent to trade at $104.35.
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