Carvana shares fall 14% following short-seller accusations

A Carvana used-car vending machine displays vehicles in Miami, Dec. 9, 2022. Joe Raedle | Getty Images Shares of Carvana plummeted 14.2% Wednesday following short-seller accusations that the online used retailer overstated earnings with the help of businesses controlled by CEO Ernie Garcia III’s family.  Gotham City Research alleged Wednesday that the online used car…

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6-month HIV PrEP makes coverage gains with insurers

Click for more news from The Hill {Beacon} Health Care Health Care The Big Story 6-Month HIV PrEP Wins Coverage With Insurers Six months after approval by the Food and Drug Administration (FDA), the latest advancement in HIV pre-exposure prophylaxis (PrEP) is gaining coverage from insurers who were initially weary of its high price tag….

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U.S. Fed rates, gold, Nikkei 225, HSI

An aerial view of Singapore’s skyline. Tong Thi Viet Phuong | Moment | Getty Images Spot gold prices rose to a fresh record Thursday after the U.S. Federal Reserve overnight kept its benchmark rate steady at a target range of 3.5% to 3.75%. The bullion rose more than 3% to breach the $5,500 per ounce…

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Fed holds firm

Welcome to The Hill’s Business & Economy newsletter {Beacon} Business & Economy Business & Economy The Big Story Fed keeps rates unchanged The Federal Reserve declined to cut interest rates on Wednesday amid President Trump’s fight to exert more influence over the independent central bank. © AP Federal Open Market Committee (FOMC)… Source link

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Samsung profit triples, beating estimates as AI chip demand fuels memory shortage

Headquarters of Samsung in Mountain View, California, on October 28, 2018. Smith Collection/gado | Archive Photos | Getty Images Samsung Electronics reported an over threefold surge in fourth-quarter profits on Thursday, hitting a new record and beating analysts’ estimates, as a memory chip shortage and strong demand for artificial intelligence servers lifted earnings. Here are…

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