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World Street | Fed's rate-cut forecast, NASDAQ stake sale, Hindenburg's new target and more

Money ControlMoney Control · 9m
World Street | Fed's rate-cut forecast, NASDAQ stake sale, Hindenburg's new target and more

The US Federal Reserve plans to reduce interest rates by three-quarters of a percentage point by the end of 2024. NASDAQ's top shareholder, Borse Dubai, will sell shares worth $1.6 billion to private equity firm Thoma Bravo, resulting in a reduced stake in NASDAQ. Hindenburg Research has taken a short position in Equinix, a data center company, alleging inflated profitability metrics. Intel is set to spend $100 billion on expanding its manufacturing capacity, potentially receiving further tax breaks. Lonza, a Swiss contract drug manufacturer, plans to acquire a biologics site in California from Roche for $1.2 billion. Chipotle Mexican Grill's stock price surpassed $3,000 for the first time after a 50-for-1 stock split was approved.

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