Category: Reuters
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Yen rises to 7-month highs as US slowdown fears spill over By Reuters
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By Vidya Ranganathan SINGAPORE (Reuters) – The Japanese yen hit its highest level against the dollar since January on Monday as markets continued to move in a week that began after weak U.S. employment data stoked recession fears and expectations of deeper interest rate cuts by the Federal Reserve. Friday’s…
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CrowdStrike rejects Delta Air Lines claims over flight woes By Reuters
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By David Shepardson WASHINGTON (Reuters) – CrowdStrike Inc on Sunday rejected Delta Air Lines Inc’s claim that it was to blame for flight disruptions after a global outage on July 19 caused by a faulty software update, suggesting its potential liability was minimal. Delta CEO Ed Bastian said last week…
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Musk-backed PAC under investigation for potential violations of Michigan laws By Reuters
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A political action committee backed by billionaire Elon Musk is under investigation in Michigan for possible violations of state laws, a spokesman for the Michigan secretary of state’s office said in a statement Sunday. Tesla (NASDAQ:) CEO Elon Musk previously said he had created a political action committee focused on…
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Stocks shaken by US recession fears, bonds price for rate cuts By Reuters
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By Wayne Cole SYDNEY (Reuters) – Asia’s main stock indexes fell on Monday as growing fears that the United States could be headed for recession sparked a mass risk aversion and expectations that interest rates will have to be cut sharply and quickly to support growth. Investors picked up where…
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Snickers maker Mars explores acquisition of Kellanova, sources say By Reuters
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(Reuters) – Family-owned food giant Mars Inc, whose candy brands include M&M’s and Snickers, is considering acquiring Kellanova, the maker of snacks such as Cheez-It and Pringles, according to people familiar with the matter. The deal would be one of the largest ever in the packaged food sector, given Kelanova’s…
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At least 73 killed as clashes rock Bangladesh, curfew imposed By Reuters
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Written by Roma Paul DHAKA (Reuters) – At least 73 people were killed and hundreds wounded in clashes in Bangladesh on Sunday as police fired tear gas and rubber bullets to disperse tens of thousands of protesters demanding Prime Minister Sheikh Hasina’s resignation. The government announced a nationwide curfew starting…
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California wildfire now fourth-largest in state history, hot weather offers no relief By Reuters
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By Rich Mackay (Reuters) – More than 6,000 firefighters in California’s Central Valley continued to battle the largest wildfire in the United States on Saturday, which has made its way into the history books as the state’s fourth-largest on record. Meteorologists said there was little to no rain Saturday due…
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Abrdn finance chief Jason Windsor to replace Stephen Bird as CEO, Financial Times reports By Reuters
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(Reuters) – Jason Windsor, the chief financial officer of British fund manager Aberdeen, is the frontrunner to take over as chief executive of the company after Stephen Bird leaves, the Financial Times reported on Saturday. The newspaper reported, citing two sources close to the process, that Windsor could be formally…
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Somalia beach attack kills 37 civilians, minister says By Reuters
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MOGADISHU (Reuters) – At least 37 civilians were killed and 212 wounded in a blast at a popular beachside restaurant in Somalia’s capital late on Friday, the health minister said, in an attack the government blamed on Islamist militant group al Shabaab. Ali Haji told a news conference that 11…
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Australia, NZ dollars grapple with risk aversion as US growth fears weigh By Reuters
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SYDNEY (Reuters) – The Australian dollar held near three-month lows on Friday after weak U.S. data fueled fears of a sharp slowdown in the world’s largest economy, prompting investors to seek refuge in the safe-haven yen and Swiss franc. The single currency was steady at $0.6501, having fallen 0.5% overnight…
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Music labels’ AI lawsuits create new copyright puzzle for US courts By Reuters
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By Blake Brittany (Reuters) – Country singer Tift Merritt’s most popular song on Spotify (NYSE: NYSE: ) is a ballad with lyrics evoking isolation and the open road. Prompted by Reuters to create an “American Tift Merritt-style song,” artificial intelligence music site Udio instantly generated “Holy Grounds,” a ballad with…
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Dollar hits four-month low as weak US jobs data boosts rate cut bets By Reuters
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By Karen Brittl NEW YORK (Reuters) – The U.S. dollar fell to a four-month low on Friday after a weaker-than-expected July employment report raised expectations the Federal Reserve will cut interest rates by 50 basis points in September as the economy deteriorates. Employers added 114,000 jobs, missing expectations for a…
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Hedge funds grow bearish amid economic slowdown jitters, Goldman says By Reuters
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Written by Carolina Mandel NEW YORK (Reuters) – Global hedge funds continued to add bearish bets on stocks to their portfolios in the week to Aug. 1 as fresh data raised concerns that the U.S. economy is slowing faster than expected, Goldman Sachs said in a note to clients. Goldman…
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Hawaiian Electric, others agree to $4 billion Maui wildfire settlement By Reuters
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(Reuters) – Hawaiian Electric Industries Inc said on Friday it is among defendants who have agreed to pay $4 billion to settle lawsuits related to deadly wildfires on Maui. The island’s utility and its parent company, Hawaiian Electric, are responsible for paying $1.99 billion of the pre-tax amount, which includes…
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Silicon Valley Bank’s former owner gains approval to end bankruptcy By Reuters
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By Dietrich Knuth NEW YORK (Reuters) – SVB Financial Group, the former owner of failed Silicon Valley Bank, received permission from a U.S. judge on Friday to hand over its assets to creditors and end its bankruptcy. Its bankruptcy restructuring allowed it to create a fund to continue litigation against…
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U.S. keeps Vietnam as non-market economy, despite efforts to woo Hanoi By Reuters
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By David Brunstrom and Phuong Nguyen WASHINGTON/HANOI (Reuters) – The U.S. Commerce Department said on Friday it will continue to classify Vietnam as a non-market economy, a disappointing decision for Hanoi, which the United States has been courting as part of its efforts to counter China. Vietnam has long sought…
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Nasdaq on course to confirm correction as recession fears mount By Reuters
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By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stocks fell for a second straight session on Friday, confirming a slide into correction territory after a weak jobs report raised concerns about an impending recession. Nonfarm payrolls increased by 114,000 jobs last month, the Labor Department said, well below the 175,000…
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Kamala Harris’ inner circle girds for battle By Reuters
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By Nandita Bose, Trevor Hunnicutt, and Jeff Mason WASHINGTON (Reuters) – Kamala Harris is preparing for the fight of her life, if those closest to her are to be sure. The vice president has surrounded herself with a group of experienced operators, many of them Black women who have been…