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U.S. Gas Stations Rush to Adopt Chip Cards After Failed Bid to Delay Deadline

(Bloomberg) — Gas stations around the U.S. are rushing to upgrade fuel pumps to accept credit and debit cards with chips after Visa Inc. and Mastercard Inc. rejected a request to delay a looming deadline to complete the work.Beginning in October, station operators that haven’t modernized their pumps will face liability for any card fraud that happens at their businesses. The industry is “massively under-prepared,” said Joshua Smith, chief executive officer of Gas Pos, which sells point-of-sale systems.“There’s not enough technicians to do the installments,” Smith said. “There’s not enough inventory. Even if there were enough contractors, there’s not enough …read more […]

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These 3 Healthcare Stocks Are Set to Soar in 2020, Says Cowen

The calendar might have flipped to 2020, but that doesn’t mean everything has changed. Investors are still scouring the Street in search of the most compelling investment opportunities, the names that could see 2020 be their year.These aren’t just any run of the mill stocks. We’re talking about tickers that are set to outperform the broader market and can hand over substantial returns in the year ahead. Having said that, tackling this job isn’t always easy. With so many options out there, it can seem overwhelming. Luckily, Wall Street analysts are here to lend a hand.Often experts in the industries …read more […]

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How Jeffrey Gundlach’s Predictions for 2019 Turned Out

(Bloomberg) — One year ago, Jeffrey Gundlach offered a mostly cautious outlook after what he called “the year no one made money.” As it turned out, 2019 was a year pretty much anyone could cash in — on stocks, bonds, commodities, even Bitcoin.DoubleLine Capital’s chief investment officer will discuss his outlook for 2020 on Tuesday when he hosts his annual “Just Markets” webcast. Gundlach will likely comment on his usual array of topics, from his outlook for gold to his concern about the U.S. budget deficit. He may also address this year’s U.S. presidential election.Here’s what Gundlach predicted a year …read more […]

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Wall Street poised for small gains as Mideast concerns ebb

The three main U.S. indexes on Monday rebounded from early losses that was sparked by a rush to safe-haven assets following the killing of a top Iranian general last week by the United States. Helping the tech-heavy Nasdaq futures outperform on Tuesday, Micron Technology Inc rose 3.1% in premarket trading after Cowen & Co upgraded the chipmaker to “outperform” on earlier-than-expected recovery in memory market. …read more […]

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A Saudi family feud, a decade-long debt saga and a court's $14 billion decision

Saudi Arabia’s largest and longest debt saga, fueled by a feud that has split one of its richest families, could be nearing a resolution after a court approved about $14 billion in claims related to the collapse of two business empires a decade ago. The Saudi court has accepted more than $7 billion in claims from creditors against the Algosaibi family’s conglomerate AHAB, and about $6.5 billion against tycoon Maan al-Sanea and his company Saad Group, two court documents seen by Reuters showed. A court-driven end to the saga would not only offer some relief to those creditors, …read more […]

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A Saudi family feud, a decade-long debt saga and a court's $14 billion decision

Saudi Arabia’s largest and longest debt saga, fueled by a feud that has split one of its richest families, could be nearing a resolution after a court approved about $14 billion in claims related to the collapse of two business empires a decade ago. The Saudi court has accepted more than $7 billion in claims from creditors against the Algosaibi family’s conglomerate AHAB, and about $6.5 billion against tycoon Maan al-Sanea and his company Saad Group, two court documents seen by Reuters showed. A court-driven end to the saga would not only offer some relief to those creditors, …read more […]

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Goldman Sachs renames business units ahead of quarterly results

The bank said it would report its future earnings, starting with the latest December quarter, under the newly named business units – investment banking, global markets, asset management and consumer & wealth management. Goldman renamed its institutional client services business as global markets, while investment management has been renamed as asset management, the bank said in a regulatory filing. …read more […]

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Factbox: Boeing's 737 MAX compensation deals with airlines

Boeing’s best-selling plane was grounded in March 2019 after two fatal crashes in which all 346 passengers and crew were killed. There were 387 737 MAX planes being operated by 59 airlines at the time and a backlog of orders worth more than $500 billion at list prices. Aeromexico said on Jan. 6 it had reached a compensation agreement with Boeing over the grounding of the 737 MAX. …read more […]