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Reverse ATMs take bills, dispense cards as stores go cashless

A "reverse ATM" at Rogers Centre, home of the Toronto Blue Jays. Photo courtesy of Wavetec As stores and restaurants attempt to go cashless, they're installing "reverse ATMs" that dispense stored-value cards in exchange for greenbacks. Why it matters: More businesses...

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Why the U.S. can’t build EVs without China

Workers at a nickel electrolysis workshop on Dec. 30, 2022, in Jinchang, China. Photo: Li Yalong/China News Service/VCG via Getty Images The Biden administration's effort to spur domestic battery manufacturing is running into a problem: Some critical raw materials are...

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Pimco-Owned Office Landlord Defaults on $1.7 Billion Mortgage

Kurt Brady / Alamy Stock Photo (Bloomberg) -- An office landlord controlled b y Pacific Investment Management Co. has defaulted on about $1.7 billion of mortgage notes on seven buildings, a sign of widening pain for the industry as property values fall and rising...

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Debt-laden Italy lashes out at ‘crazy’ ECB after rate hike

The European Central Bank (ECB) building is seen from a cafe amid Christmas decorations, before the monthly news conference following the ECB's monetary policy meeting in Frankfurt, Germany December 15, 2022. REUTERS/Wolfgang Rattay ROME/FRANKFURT, Dec 16 (Reuters) -...

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