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Canadian Stocks Drop in Catch-Up Trade After Global Selloff

Overview of Global Selloff In recent weeks, global financial markets have experienced pronounced volatility, spurred by a confluence of macroeconomic factors. Central bank rate hikes, led by the U.S. Federal Reserve’s aggressive stance to counteract soaring inflation, have reverberated across global economies. The Federal Reserve’s decision to raise interest rates has had a cascading effect, […]

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Intel Stock

Intel Announces Major Cost-Cutting Plan

Intel, a leading chipmaker, announced a significant cost-cutting plan following its disappointing second-quarter earnings report. The company revealed plans to cut 15% of its workforce and suspend dividend payments as part of a $10 billion cost reduction strategy. Intel’s stock plummeted more than 16% after the announcement. The company reported earnings per share (EPS) of

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