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Wall Street Futures Edge Higher as Soft Jobs Data Fuels Rate-Cut Hopes

  US stock futures ticked upward on Wednesday, extending Wall Street’s rebound as investors digested a weaker-than-expected ADP employment report. The data showed a surprise decline in private-sector payrolls, reinforcing expectations that the Federal Reserve may move forward with an interest rate cut at its upcoming December meeting. Market Performance Dow Jones Industrial Average futures rose about 0.2%, adding 80 points to 47,624. S&P 500 futures gained 9.25 points to 6,849.50, up 0.14%. Nasdaq 100 futures advanced 25.50 points to 25,631.50, a 0.10% increase. Key Drivers The ADP jobs report revealed a drop in private-sector employment, signaling cooling labor market conditions. This bolstered investor confidence that the Fed will ease monetary policy, with markets pricing in nearly 88% odds of a rate cut next week. Tech stocks continued to provide momentum, with Nvidia and Marvell edging higher. Crypto-linked stocks surged, with PMAX up 67%, CMCT up 30%, a...
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Flair Airlines Ordered to Pay $67 Million in Unpaid Taxes by Federal Government

                                                                                      

Documents show Flair Airlines, a Canadian budget airline, has been ordered by the federal government to pay $67.2 million in unpaid taxes. The money owed is related to import duties on the 20 Boeing 737 Max jetliners that make up the airline’s fleet. Court documents reveal that the Canada Revenue Agency has obtained an order for the seizure and sale of the carrier’s property.

Flair Airlines CEO Stephen Jones has stated that the company has a deal with the Canada Revenue Agency to pay the taxes and is current with that plan. The Federal Court order obtained by the tax agency in November has no impact on the carrier’s operations, which have expanded over the past year and ramped up competition with rival airlines.

The airline has been in the news recently for its legal battles with leasing manager Airborne Capital and three other leasing firms. Flair Airlines launched a $50-million court action against the four companies, arguing that ongoing demands for payment from the four companies were “baseless”.


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