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It may be evidence inflation is meaningfully stretching budgets. According to economic forecaster Lakshman Achuthan, Wall Street is ignoring a striking consumer spending slowdown that will translate into an underwhelming holiday season. “There’s still this narrative that the rebound is there,” the Economic Cycle Research Institute co-founder told CNBC’s “Trading Nation” on Wednesday. “The hope
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4:18 PM ET Associated Press LAS VEGAS — A Las Vegas judge ordered former Raiders receiver Henry Ruggs III to appear before her on Monday after learning he missed a required alcohol test while on house arrest following a fatal crash he’s accused of causing by driving drunk at speeds up to 156 mph. Ruggs’
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Grammarly CEO Brad Hoover. Grammarly Grammarly, a start-up whose software highlights issues as people write in its web app and other programs, said Wednesday that it sports a $13 billion valuation after taking on $200 million in new funding from Baillie Gifford, General Catalyst, funds and accounts managed by BlackRock and other investors. The backing
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Frozen vials apparently containing the deadly virus smallpox have been discovered in a freezer at a US facility that conducts vaccine research. Federal health authorities confirmed the vials “were incidentally discovered by a laboratory worker” who was cleaning out the freezer in Pennsylvania. “CDC, its administration partners, and law enforcement are investigating the matter and
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8:22 AM ET Associated Press CHARLOTTE, N.C. — Seven-time NASCAR champion Jimmie Johnson will represent the United States in the upcoming international Race of Champions, an event he won with Jeff Gordon in 2002. Johnson will compete in the event scheduled Feb. 4-6 in Pite Havsbad, Sweden for the “Champion of Champions” title in the
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5:58 PM ET Oklahoma coach Lincoln Riley downplayed speculation Tuesday about whether he had interest in LSU’s coaching position, saying his feelings about the Oklahoma job haven’t changed. Riley is 54-9 at Oklahoma, which promoted him to replace longtime coach Bob Stoops after the 2016 season. His name has been connected to NFL coaching vacancies,
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