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US stocks climb as disappointing jobs report lifts stimulus hopes

Summary List Placement US equities rose on Friday after disappointing labor-market data boosted hopes for an end-of-year stimulus compromise. The US added 245,000 nonfarm payrolls in November, handily missing the consensus economist estimate of 460,000 additions. The unemployment rate fell to 6.7% from 6.9% and met forecasts. Though the data suggests the nation's economic recovery is slowing, some see it as raising the chances of a near-term stimulus deal. "Today's report is beckoning lawmakers to act on additional fiscal stimulus measures," Charlie Ripley, senior investment strategist for Allianz Investment Management, said. "The longer they hold out the wider the gap may become." Watch major indexes update live here. US stocks gained on Friday after worse-than-expected November jobs...

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Walgreens is the latest retailer to launch a media network in a bid for ecommerce channel ad spend

Summary List PlacementThis week, Walgreens launched its media network Walgreens Advertising Group (WAG), offering ad placements on Walgreens' digital properties and other brand-safe third-party websites. These services have already been available to select brands for more than a year, but a Walgreens executive told Adweek that the official launch of WAG shows the company's intentions to further invest in the space. The media network will capitalize on first-party data from Walgreens' loyalty program to provide targeting options and analytics to media buyers and will include access to its proprietary demand-side platform (DSP) as well. Retailers are investing in proprietary media networks to capitalize on the growth of ecommerce channel advertising. New players like Instacart, CVS, and Th...

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A goofy TikTok dad and his sons have gained 2 million followers and turned their comedy home videos into a business making thousands of dollars per brand deal

Summary List PlacementSome dads of TikTok creators have become stars in their own right, with the #DadsofTikTok hashtag racking up over nine billion total views.  And one of the most famous TikTok fathers is Dan McFarland, 59, who is front and center on The McFarlands TikTok account, which has over 2 million followers. He's often seen dancing or dramatically acting out a scene with his sons.  "You know it's going to be a good video when dad's like, 'Guys, I'm a grown man!'" said Colin McFarland, one of the family's three sons.  The McFarlands, a family of five from Louisville, Kentucky, have been creating comedic TikTok skits since January 2019. Besides Dan, his sons Colin, 26, and Dylan, 24, are the other lead stars. (They started their social-media endeavors making videos for the now-...

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US hiring slows sharply to 245,000 jobs as COVID batters economy

By CHRISTOPHER RUGABER | AP Economics Writer WASHINGTON — America’s employers sharply scaled back their hiring last month as the viral pandemic accelerated across the country, adding 245,000 jobs, the fewest since April and the fifth straight monthly slowdown. At the same time, the unemployment rate fell to a still-high 6.7%, from 6.9% in October, the Labor Department said. November’s job gain was down from 610,000 in October. Friday’s report of another slowdown in hiring was the latest evidence that the job market and the economy are faltering in the face of a virus that has been shattering daily records for confirmed infections. Before the pandemic, last month’s gains would have been considered healthy. But the U.S. economy is still roughly 10 million jobs below its pre-pandemic level, w

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US hiring slows sharply to 245,000 jobs as COVID batters economy

By CHRISTOPHER RUGABER | AP Economics Writer WASHINGTON — America’s employers sharply scaled back their hiring last month as the viral pandemic accelerated across the country, adding 245,000 jobs, the fewest since April and the fifth straight monthly slowdown. At the same time, the unemployment rate fell to a still-high 6.7%, from 6.9% in October, the Labor Department said. November’s job gain was down from 610,000 in October. Friday’s report of another slowdown in hiring was the latest evidence that the job market and the economy are faltering in the face of a virus that has been shattering daily records for confirmed infections. Before the pandemic, last month’s gains would have been considered healthy. But the U.S. economy is still roughly 10 million jobs below its pre-pandemic level, w

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Ivanka Trump is accused of letting her father’s inauguration committee overpay a Trump hotel. Now she’s calling the investigation ‘a waste of taxpayer dollars.’

Summary List PlacementPresident Donald Trump's daughter, Ivanka, has responded to reports of her being deposed for a lawsuit on inaugural misspending on Thursday, calling the inquiry "politically motivated" and a "waste of taxpayer dollars." According to a Tuesday court filing, the first daughter was deposed on December 1 for a lawsuit filed by the Washington, DC Attorney General against the Presidential Inaugural Committee (PIC) and Trump Organization in January 2020. The lawsuit alleges that President Trump's inaugural committee abused "non-profit funds to enrich the Trump family" by overpaying to use the Trump International Hotel in Washington, DC, for events during the 2017 inauguration.  According to the lawsuit, one of the event's planners, Stephanie Winston Wolkoff, informed both...

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Meet 2020’s Rising Stars of Wall Street from firms like Goldman Sachs, BlackRock, and Carlyle

Summary List PlacementAs Wall Street navigates a health pandemic that's changed the way we work and dramatically changed the economic landscape, we take a look at the players rising up despite the challenges and grasping opportunities as they see them. From launching game-changing groups within global financial institutions, to having a hand in restructuring entertainment giants like AMC, these 25 stood out as the leaders for tomorrow. In addition to being at the top of their class, these finalists are also trailblazing in new areas like data science and machine learning, executing on sustainability goals, and paving the way for a more diverse and equitable workforce by speaking out and taking part in recruiting efforts. Selecting the final list wasn't easy. We received hundreds of nomi...

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TD Bank’s profits and digital engagement reflect Canada’s easing coronavirus fears

Summary List PlacementThe Canada-based bank's domestic retail segment reported earnings for its fiscal Q4 2020 (ended October 31, 2020), revealing a profit of CA$1.80 billion ($1.37 billion), an increase of 3% over last year and 43% over its previous fiscal quarter (ended July 31, 2020), Bloomberg reports. The bank attributed its positive results in part to easing fears of deeper economic fallout from the coronavirus pandemic, as reflected by its much smaller provisions for credit losses: CA$251 million ($189.2 million) for Q4 in the bank's Canadian retail segment, compared with CA$951 million ($716 million) in its fiscal Q3. Digital metrics in TD's Canadian retail unit also suggest that lessened pandemic concerns may be leading fewer customers to rely on digital channels. The percent of...

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These 5 factors are transforming the healthcare experience for both patients and doctors

Summary List Placement This is a preview of recent Digital Health research from Business Insider Intelligence. Business Insider Intelligence offers even more healthcare coverage with Digital Health Pro. Subscribe today to receive industry-changing digital health news and analysis to your inbox Want more Digital Health research? Here's how to get access: Sign up for Digital Health Pro, Business Insider Intelligence's expert product suite keeping you up-to-date on the people, technologies, trends, and companies shaping the future of healthcare, delivered to your inbox 6x a week. >> Get Started Join thousands of top companies worldwide who trust Business Insider Intelligence for their competitive research needs. >> Inquire About Our Enterprise Memberships Join the conversat...

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This banking-as-a-service fintech helping businesses embed payments tech into their apps just raised a $27 million Series A led Andreessen Horowitz

Summary List PlacementWade Arnold witnessed firsthand the challenges of combining new, online banking tools with older bank payment systems. While leading Banno, a fintech he founded in 2008, Arnold saw the difficulties that come with trying to upgrade tech at smaller banks and credit unions with limited resources. After Banno's acquisition by banking tech Jack Henry in 2014, Arnold has gone on to create a new company that aims to solve some of those problems around how companies send, receive and store money on their apps. Iowa-headquartered Moov is banking-as-a-service, helping businesses embed transactional banking tools — like the ability to send ACH payments — directly into their apps, all while being flexible (it can be used with different bank software, for example) and open-sour...

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Freeze warning in Antelope Valley, wind advisory in San Fernando and Santa Clarita valleys

LOS ANGELES — A hard freeze warning with sub-freezing temperatures as low as 16 degrees was in effect Friday morning for the Antelope Valley, and a wind advisory was in effect for parts of Los Angeles County, including the San Fernando and Santa Clarita valleys. The National Weather Service issued the hard freeze warning about 3:20 a.m. for the cities of Lancaster and Palmdale until 9 a.m. A hard freeze watch, with temperatures dropping as low as 17 degrees, will go into effect Friday evening through Saturday morning, the weather service said. There's some chilly temps in store for the Interior Valleys tonight, esp for Antelope Valley where we expect a Hard Freeze w/ sub freezing temps as low as 16F. Other interior valleys will likely see frost. #AVweather #socal #AntelopeValley #cawx pi...

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Inside the daily lives of 7 work parents battling pandemic isolation, virtual learning, and the guilt of raising kids in quarantine

Summary List PlacementWorking parents are struggling right now.  When corporate America shifted to remote work in March, parents had to take care of both their children and their jobs. It wasn't an easy transition. And without benefits like paid parental leave, women — who have shouldered an outsized portion of the caregiving responsibilities — are dropping out of the workforce in droves.  About 865,000 women dropped out of the workforce in September, which is about 650,000 more than men. Many cited balancing work, school, and caregiving responsibilities as the main reason for leaving their jobs.  If Congress doesn't pass another coronavirus relief package, up to 87 million workers could lose access to benefits like paid sick and family leave — benefits that many parents are relying on ...

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US economy misses forecasts, adds 245,000 jobs in November as unemployment falls to 6.7%

Summary List PlacementThe US labor-market recovery continued through November, although the pace of new job additions slowed as soaring COVID-19 case counts and partial lockdowns cut into hiring activity. American businesses added 245,000 nonfarm payrolls last month, the Bureau of Labor Statistics said Friday. The total landed well below the 460,000 additions expected by economists surveyed by Bloomberg. It also marked a drop from the revised 610,000 jobs added in October. The US unemployment rate fell to 6.7 from 6.9%, according to the report, matching economist expectations. The rate has fallen steadily from the 14.7% peak seen after the pandemic first froze economic activity, but the pace of improvement has slowed considerably through the fall. The Friday report marks the seventh str...

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Today’s best mortgage and refinance rates: Friday, December 4, 2020

 Summary List PlacementTable of Contents: Masthead StickyMortgage and refinance rates have decreased since last Friday, with the exception of 5/1 adjustable rates, which have increased by just one basis point. These days, you'll probably get a better deal with a fixed-rate mortgage than an adjustable-rate mortgage. Darrin English, Senior Community Development Loan Officer at Quontic Bank, told Business Insider that adjustable-rate mortgages are less beneficial for borrowers than they used to be. ARM rates are starting higher than fixed-rate mortgages, and you'd risk your rate increasing later. It's probably better to lock in a historically low interest rate now with a fixed-rate mortgage. If your finances are in a good place, it could be a good time to get a fixed-rate mortgage or re...

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