Economist Professor Festus Ebo Turkson has urged the Mahama administration to use the current period of macroeconomic stability to implement long-delayed structural reforms, citing the supply of crude oil from the Jubilee Field to the Tema Oil Refinery as an example of the kind of change needed to build economic resilience and reduce pressure on the cedi.
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Netflix forecast third-quarter revenue of $12.86 billion and diluted earnings per share of 82 cents, below Wall Street targets of $13 billion and 84 cents; shares fell nearly 8.6% in after-hours trading as the company shifts focus to advertising, live events and video games for growth.
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Trump Media & Technology Group is launching a paid service called Truth API starting 1 August to give Wall Street firms high-speed access to posts from key accounts on its Truth Social platform, aiming to create a steady revenue stream for the loss-making company and capitalizing on how Trump's posts often move global markets.
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Gold was on track for its biggest weekly loss in six as escalating U.S.-Iran clashes lifted oil prices by about 12% this week, adding to inflationary pressures and strengthening the case for higher U.S. interest rates. The metal has lost 3.2% so far this week, outweighing support from softer June U.S. inflation figures.
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Asian stocks stumbled Friday on weakness in semiconductor stocks, with investors rotating into banking after strong lender earnings. Oil prices were set for their sharpest weekly rise in three months amid renewed Middle East tensions.
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