October 31, 2023

Markets Now

Sam Bankman-Fried’s fourth day on the stand did not go well

Sam Bankman-Fried has stepped down from the stand, after four days of testimony in his criminal fraud trial.  
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Bud Light sales keep sinking

Bud Light continues to be a drag on Anheuser-Busch InBev’s bottom line in the United States, but the world’s biggest brewer saw its global revenue rise and beating expectations.  
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Analysis: It’s a spooky Halloween for markets. Here’s why

Markets soared higher on Monday as the US government said its borrowing needs would decline in the final three months of the year from the prior quarter.  
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Carlsberg says Moscow stole its Russian business

Carlsberg has cut all ties with its Russian business and refuses to enter a deal with Russia’s government that would make Moscow’s seizure of the assets look legitimate, the brewer’s new CEO said Tuesday.  
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Stellantis takes $3 billion revenue hit from autoworker strikes

Historic strikes by autoworkers in North America have cost Stellantis €3 billion ($3.2 billion) in lost revenue, the maker of Chrysler and Jeep said Tuesday.  
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Biden administration wants to kill ‘junk’ fees in retirement investments and advice

As part of its ongoing effort to make it easier for Americans to amass retirement savings and protect consumers from having to pay “junk” fees, the Biden Administration on Tuesday will propose a rule that would require any financial adviser, broker or insurance agent who sells retirement investments and advice to only do so in the best interest of their clients, not their own.  
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Source: CNN Business

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