August 11, 2023

Markets Now

Don't be fooled by rising consumer price data, take a peek behind the numbers

US consumer prices rose 3.2% for the 12 months ending in July, according to the latest Consumer Price Index, which landed Thursday. That compares to 3% in June.  
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Chinese property giant Country Garden warns of $7.6 billion loss as it nears default

One of China’s biggest property developers says it has burned through up to $7.6 billion in the first half of the year, compounding the crisis coursing through the country’s embattled real estate sector.  
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Amazon warns employees who don't go to the office enough

Amazon has warned some of its US-based office workers that it is keeping a close eye on their in-person attendance at work, sending emails to those it believes are not complying with its return-to-office policies.  
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Sam Bankman-Fried is sent to jail over alleged witness tampering

A federal judge revoked bail for FTX co-founder Sam Bankman-Fried Friday during a bond hearing.  
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IRS cannot find millions of backup tax records, watchdog says

The Internal Revenue Service cannot locate thousands of microfilm cartridges storing millions of sensitive business and individual tax account records, a new watchdog report found.  
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Subway is now charging extra for a cheese slice in India

Subway sandwiches in India will no longer come with the option of a free cheese slice following revisions to its menu that analysts say are more about cost-cutting than just a matter of taste.  
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Source: CNN Business

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