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The number of millionaire households in the U.S. jumped by more than 700,000 last year, thanks to surging stock prices and housing values, according to a new report. The U.S. now has more than 11 million millionaire households, according to Spectrem Group, up more than 6 percent from 2016. The number of new millionaires and
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Zhang’s comments echo those made by China’s Premier Li Keqiang at the end of the country’s National People’s Congress, an annual parliamentary convocation, earlier this week. “We will fully open up the manufacturing sector, with no mandatory technology transfers allowed, and we will protect intellectual property,” Li told a press conference wrapping up the NPC
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Andrew Harrer | Bloomberg | Getty Images Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, D.C., U.S., on Wednesday, March 21, 2018. “The economic outlook has strengthened in recent months,” the committee said in its post-meeting statement, a sentence that
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Chinese internet giant Tencent will step up investments in areas such as video, payment and artificial intelligence, it said after reporting better than expected quarterly net profit thanks to a string of successful IPOs. With a market capitalization of around $560 billion, Tencent is Asia’s most valuable listed company and the world’s no.5, after Apple,
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Cheerios cereal maker General Mills cut its full-year earnings forecast due to a sharp increase in freight and commodity costs, driving its shares down 9 percent in premarket trading on Wednesday. The Minneapolis-based company, which owns the Häagen-Dazs and Betty Crocker brands, said it would try to strengthen next year’s earnings by improving its distribution
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FedEx reported quarterly earnings and revenue that beat analysts’ expectations on Tuesday. Here’s how the company did compared with what Wall Street expected: EPS: $3.72 vs. $3.11, according to Thomson Reuters Revenue: $16.52 billion vs. $16.16 billion, according to Thomson Reuters In the year ago quarter, FedEx reported earnings of $2.30 a share on $15
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