FINANCE
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Rio Tinto announces start of iron ore rail cars production with Gemco
Metals and mining company Rio Tinto has announced the start of production of its first iron ore rail cars built in Western Australia (WA). The company is investing A$150m ($94.8m) to procure 100 rail cars as part of its operations in the Pilbara region. This expansion is expected to create up to 25 jobs in Pilbara. The new cars are…
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UBS informs Italian unions of plans to cut one third of jobs in the country
MILAN (Reuters) -Swiss bank UBS informed unions in Italy on Tuesday of plans to cut 180 jobs, or around a third of the total, in the country, documents reviewed by Reuters showed. One of the letters to unions seen by Reuters showed that UBS planned to shed 18 jobs out of 34 at UBS Fiduciaria, an asset custody services company…
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Why an analyst sees the record-setting gold rally headed for a 38% crash in coming years
Getty; BI Record-high gold prices could see a steep correction in the coming years, according to one analyst. There are long-term trends that could push bullion back to $1,820, Morningstar’s Jon Mills says. That implies a 38% decline for the metal from current levels. Gold has become a surprise winner of the Trump trade as investors seek shelter amid the…
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UK Spring Statement: the wealth sector reacts
The Office for Budget Responsibility confirms it is cutting its 2025 growth forecast from 2% to around 1%. This puts UK Chancellor of the Exchequer Rachel Reeves in an awkward position, but what does the wealth sector say after the Spring Statement? The Chancellor’s Spring Statement will be a huge disappointment to the UK’s small and medium sized enterprises. We…
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Faith-based investing is having a moment
Creativ Studio Heinemann/Getty, Ava Horton/BI Religious investment funds are having a moment. Assets in faith-based funds hit $100 billion for the first time last year. Their rise has come alongside Trump’s presidency and growing religious sentiment in the US. A corner of the exchange-traded and mutual fund market has seen a quiet surge in recent years, which investing pros say…
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Average US rate on a 30-year mortgage rises slightly for the second week in a row
Associated Press (AP) — The average rate on a 30-year mortgage in the U.S. rose slightly for the second week in a row, a modest setback for prospective home shoppers as the spring homebuying season ramps up. The rate rose to 6.67% from 6.65% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.87%. Including…
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CD rates today, March 17, 2025 (Lock in up to 4.50% APY)
The Federal Reserve reduced its target interest rate three times in 2024. This had a ripple effect on deposit account rates, which means now could be your last chance to lock in today’s high rates with a certificate of deposit (CD). Here’s a look at today’s CD rates and where you can find the best offers. As of March 17,…
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How are they different, and which one is right for you?
You can use and charge cards to make purchases where credit cards are accepted, and both types of cards can help if you make on-time payments. However, charge cards don’t carry interest and require you to pay off your balance fully each month. They also don’t tend to have preset spending limits, which could come in handy if you’ve ever…
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Kohl’s shares plummet as sales drop, guidance widely miss estimates amid turnaround efforts
Kohl’s (KSS) comeback attempt is falling flat as the department store chain reported fourth quarter results that showed steep drops. On Tuesday before market open, Kohl’s reported that Q4 revenue and same-store sales declined 9.4% and 6.7% year over year, respectively. Adjusted earnings per share came in at $0.95, compared to $1.67 in the year-ago period. Its 2025 outlook was…
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Stocks of McDonald’s and other fast food giants rise, but challenges from Trump tariffs loom
President Trump’s tariffs are throwing a wrench in fast food giants’ plans as the industry continues to struggle with rising costs and lower foot traffic. However, jittery investors may be looking toward value chains that could win over budget-conscious diners. On Friday, shares of McDonald’s (MCD) hit a record high. Over the last week, its stock rose 5%, even as…
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