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Top Business Updates as of February 18, 2024

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On February 18, 2024, the following are some of the top business news highlights:

  1. Companies are prioritizing cost cuts in 2024, with 2 out of 5 industrial stocks at record highs.
  2. The U.S. Securities and Exchange Commission cleared Donald Trump’s media and technology company to merge with a blank-check acquisition vehicle, valuing the parent of his social media app Truth Social at as much as $10 billion.
  3. Nike announced it will lay off 2% of its employees, cutting more than 1,500 jobs amid restructuring.
  4. Intuitive Machines, a moon mission company, saw its stock spike after the first mission update.
  5. Airfare is down, but airlines are facing pressure for higher wages.
  6. Molson Coors gained market share as consumers shifted away from Bud Light.
  7. Carl Icahn won seats on JetBlue’s board after taking a stake in the airline.
  8. Autos deliveries dried up in January amid the latest Max crisis.
  9. Paramount Global laid off about 800 employees after record Super Bowl ratings.
  10. Stellantis CEO warned that Chinese EVs are a significant risk for his carmaker and Elon Musk’s Tesla.
  11. Fast-food giants are feeling the burn from Middle East boycotts, with McDonald’s, Starbucks, and Yum Brands’ earnings affected.
  12. Dry January has helped lure people into the non-alcoholic beer category, but they often stick on for health and moderation reasons.
  13. Los Angeles is finally tackling a $1.5 billion eyesore left vacant by China real-estate bust, beloved by daredevil influencers.
  14. Donald Trump actually owes more than $500 billion in legal judgments, when factoring in interest.
  15. Trump’s finances were hit by a New York fraud case ruling, with a $355 million payment required for ‘ill-gotten gains’.
  16. SEC Clears Trump’s Media and Technology Company Merger with a Blank-Check Acquisition Vehicle, Valuing the Parent of His Social Media App Truth Social at as Much as $10 Billion.
  17. Young Adults Are Getting Used to Living on a Financial Cliff.
  18. Wall Street May Have Killed the American Dream of Homeownership, Depending on Where You Live.
  19. A Record-Breaking January for New Jersey Gambling, Even as In-Person Casino Winnings Fall.
  20. Crews Take Steps to Secure Graffiti-Scarred Los Angeles Towers Left Unfinished by Developer.
  21. Trump’s Legal Debts Top a Half-Billion Dollars.
  22. Amazon Argues That National Labor Board Is Unconstitutional, Joining SpaceX and Trader Joe’s.
  23. A Small Business in War-Time Gaza Sews Padded Cloth Diapers, Creating Jobs and Helping Weary Parents.
  24. Chinese Foreign Minister Says Trying to Cut His Country Out of Trade Would Be a Historic Mistake.
  25. Tech Giants Come Together to Combat Deceptive Deepfakes Ahead of 2024 Elections.

These highlights represent a snapshot of the business news landscape on February 18, 2024, and are subject to change as new developments emerge.

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