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HSBC’s (HSBC) share price rises due to its plan to accelerate restructuring

The London-based lender said on Tuesday that its third-quarter revenue fell 11% from the same period last year. Profit before tax fell 36% year-on-year to US$3.1 billion. HSBC Bank (HSBC Bank) CEO Noel Quinn said the company will now take action to accelerate the restructuring, which already includes the layoffs of approximately 35,000 people and major reforms to its business. …

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Eli Lilly antibody drug failed in COVID-19 research; others continue

US government officials are ending a study of Eli Lilly antibody drug testing for COVID-19 hospitalized patients as soon as possible because the drug does not seem to help them. Due to possible security issues, independent monitors suspended registration for the study two weeks ago. But on Monday, the National Institute of Allergy and Infectious Diseases, which sponsored the study, …

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Durable Goods Order September 2020

Thanks to fiscal stimulus measures designed to ease the blow from the Covid-19 pandemic, new orders for major US capital products increased more than expected in September, ending a potentially record-breaking quarter of business spending and overall economic growth. The U.S. Department of Commerce said on Tuesday that orders for non-defense capital goods other than aircraft, an agent of much-watched …

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Within Ant, the company is behind the world’s largest IPO

What is an ant and what is its value? The IPO of Ant Group Co., Ltd. is expected to break the global record of total funds raised. The company’s valuation reached 150 billion U.S. dollars after a round of financing in mid-2018, becoming the world’s most valuable start-up company, and may raise more than 34 billion U.S. dollars through listing, …

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Caterpillar reported that revenue fell 54% due to falling equipment demand

On Monday, January 27, 2020, Caterpillar excavators were exhibited at the Whayne Supply Co. dealership in Louisville, Kentucky, USA. Luke Sharett | Bloomberg | Getty Images Industrial machinery manufacturer Caterpillar reported on Tuesday that its third-quarter earnings fell 54% due to falling equipment sales in all regions and market segments. Dow component companies’ adjusted earnings per share for the quarter …

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After the worst day of the month, stocks regained their upward trend

Michael Kantrowitz, chief investment strategist at Cornerstone Macro, and Michael Hewson, chief market analyst at CMC Markets, discussed their market prospects. After the worst day in nearly a month, stock futures regained some gains on Tuesday, as traders hoped to get handsome returns from S&P 500 companies. Stock futures rebound The Dow Jones Index rose by 100 points, or 0.3%, …

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Strong sales of personal safety equipment, 3M revenue exceeds expectations

Traders wearing masks arrive before the opening bell of the New York Stock Exchange (NYSE) on Wall Street in New York on May 26, 2020. Johannes Eisele | AFP | Getty Images Dow component company 3M announced its third-quarter results on Tuesday, which exceeded personal expectations due to strong sales of personal safety and health equipment. This is how the …

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