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Smaller Rival of Costco and Sam’s Club BJ’s Wholesale to Expand Presence with New Clubs in Southeast.

BJ’s Wholesale Club stated on Wednesday that it plans to launch four new clubs in the Southeast and one in the Midwest this year....

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Hungary Delays Central Bank Law Amidst Political Turmoil

Hungary is postponing the submission of a law that would amend central bank regulations, a move that comes amidst escalating political tensions within the country. The proposed changes have raised concerns over the independence of the central bank and the stability of the Hungarian currency, the forint. The delay reflects the ongoing dispute between Prime Minister Viktor Orban and central bank Governor Gyorgy Matolcsy, who have been at odds over economic policy since the 2022 election. Economy Minister Marton Nagy announced the postponement, stating that discussions and consultations are ongoing regarding the proposed amendments. The law aims to expand the supervisory board's authority over activities beyond the central bank's core functions, such as monetary policy. However, concerns have been raised...

Short Sellers Eye Reddit Shares as Stock Declines

Reddit's recent entry into the stock market has garnered significant attention, with a notable increase in bearish positions against the social media platform during its initial days of trading, according to data from analytics firm Ortex. As per Ortex's preliminary estimates, around 7.1% of Reddit's freely traded shares have been shorted, based on approximately 2.15 million shares on loan. "This level of short interest is quite elevated for a newly listed stock, signaling pessimism among certain market participants regarding Reddit's future price trajectory," remarked Ortex co-founder Peter Hillerberg. Short sellers employ a strategy wherein they sell borrowed shares intending to repurchase them at a lower price in the future to generate profit. On Wednesday, Reddit's stock experienced a 12%...