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The US Census Bureau's latest data reveals a slight dip in income inequality and a rise in median household income. The nation is becoming more diverse, with increases in Asian and Hispanic populations, while fewer people are getting married. Additionally, residential mobility decreased amid rising housing costs for both homeowners and renters.
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News and Media
Larry Ellison, the Oracle founder, briefly surpassed Elon Musk to become the world's richest person. This happened after Oracle shares surged, increasing the company's market value significantly. Oracle's rise is due to promising forecasts for its cloud infrastructure revenue. The company has also secured major deals in the artificial intelligence sector. This shift highlights the dynamic nature of wealth rankings.
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News and Media
A policy clash between the U.S. and EU over Russian oil exports to India is anticipated to slightly reduce crude flows in October. President Trump's demand for India to halt Russian oil imports, coupled with increased tariffs, contrasts with the EU's price cap scheme. This discord creates confusion and compliance challenges, potentially weakening sanctions against Russia.
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News and Media
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