Category: Reuters
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JPMorgan acquires stake in Australia’s cash-strapped Star Entertainment By Reuters
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(Reuters) – U.S. bank JPMorgan Chase & Co. (NYSE:) has become a major shareholder in Star Entertainment, as shares of the beleaguered Australian casino operator have fallen sharply in the past few years amid liquidity issues, a stock exchange report showed. JPMorgan has become a shareholder with voting power of…
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Republican Party’s top bank Chain Bridge raises $41 million in US IPO By Reuters
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(Reuters) – Series Bridge Bancorp Bank of America (NASDAQ:), a bank popular among Republicans since its inception, priced its U.S. initial public offering at $22 a share on Thursday to raise $40.7 million. The bank sold 1.85 million shares in the IPO, with an estimated value of about $141 million.…
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US awards up to $510 million to boost domestic production of protective gear By Reuters
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(Reuters) – The Biden administration said on Thursday it had granted up to $510 million to boost domestic production of personal protective equipment such as isolation gowns to restock the Strategic National Stockpile in preparation for future public health emergencies. . Why is it important The US SNS, the country’s…
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Spirit Airlines in talks with bondholders over terms of potential bankruptcy filing, WSJ reports By Reuters
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(Reuters) – Spirit Airlines is in talks with bondholders about the terms of a potential bankruptcy filing in the wake of its failed merger with JetBlue Airways (NASDAQ:), the Wall Street Journal reported on Thursday, citing people familiar with the matter. Spirit shares fell 18% in after-market trading. Spirit Airlines…
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US senators urge DOJ action against Boeing executives over safety woes By Reuters
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Written by David Shepardson WASHINGTON (Reuters) – Two U.S. senators criticized the Justice Department’s plea agreement with Boeing in July and said the government should take action against the planemaker’s executives “responsible for safety failures,” according to a letter seen by Reuters. Democratic Senators Elizabeth Warren and Richard Blumenthal said…
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Exclusive-Online retailer Shein to hold roadshows soon ahead of London IPO, sources say By Reuters
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By Julie Chu, Amy Jo Crowley, and Hadeel Al-Sayegh HONG KONG/LONDON (Reuters) – Sheen is set to hold informal investor meetings in the coming weeks on its planned London initial public offering (IPO), pushing ahead with preparations while it awaits approval from UK regulators, three sources familiar with the matter…
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Swedish union files lawsuit against Tesla over labour conflict By Reuters
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Written by Isabel Carlson STOCKHOLM (Reuters) – Swedish labor union IF Metall has filed a lawsuit against Tesla Inc (NASDAQ:), alleging the company failed to inform employee representatives of changes in the workplace, which is mandatory under the country’s labor laws, union officials said on Thursday. This was the second…
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Philippines levies 12% VAT tax on digital services by tech giants By Reuters
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MANILA (Reuters) – The Philippines will impose a 12% value-added tax on digital services offered by technology giants such as Amazon (NASDAQ:), Netflix (NASDAQ:), Disney and Alphabet (NASDAQ:), in 2019. The Internal Revenue Agency said On Thursday, it is a move that will level the playing field with local players.…
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Bank of England says global asset prices remain ‘stretched’ By Reuters
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By David Milliken and Suban Abdullah LONDON (Reuters) – Global asset prices remain under pressure and are vulnerable to a significant decline as investors become more concerned about geopolitical risks, the Bank of England said on Wednesday. The Bank of England said overall risks to British financial stability were unchanged…
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Bank of England says global asset prices remain ‘stretched’ By Reuters
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By David Milliken and Suban Abdullah LONDON (Reuters) – Global asset prices remain under pressure and are vulnerable to a significant decline as investors become more concerned about geopolitical risks, the Bank of England said on Wednesday. The Bank of England said overall risks to British financial stability were unchanged…
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Amazon hit with US labor board complaint over ‘joint employment’ of drivers By Reuters
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Written by Danielle Wiesner (Reuters) – Amazon.com has been charged by the U.S. Labor Council for illegally refusing to negotiate with a union representing drivers working for a contractor, the U.S. labor agency announced on Wednesday. The complaint filed by the National Labor Relations Board (NLRB) alleges that Amazon (NASDAQ:)…
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Levi Strauss announces strategic review of Dockers brand including sale By Reuters
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(Reuters) – Levi Strauss Co said on Wednesday it was considering selling its underperforming Dockers brand, known for its khaki clothing. Shares of the denim maker fell nearly 8% in extended trading after the company missed quarterly revenue forecasts and announced a strategic review of Dockers. Levi is in the…
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Levi Strauss announces strategic review of Dockers brand including sale By Reuters
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(Reuters) – Levi Strauss Co said on Wednesday it was considering selling its underperforming Dockers brand, known for its khaki clothing. Shares of the denim maker fell nearly 8% in extended trading after the company missed quarterly revenue forecasts and announced a strategic review of Dockers. Levi is in the…
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OpenAI closes $6.6 billion funding haul with investment from Microsoft and Nvidia By Reuters
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By Crystal Ho (Reuters) – OpenAI announced on Wednesday that it has raised $6.6 billion from investors at a post-cash valuation of $157 billion, cementing the ChatGPT maker’s position as one of the world’s most valuable private companies. The funding has attracted returning venture capital investors including Thrive Capital and…
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Dollar gains as ADP shows better than expected jobs gains By Reuters
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Written by Karen Brettell NEW YORK (Reuters) – The dollar hit a three-week high against the euro on Wednesday after the ADP national employment report showed that jobs in the U.S. private sector increased more than expected in September, ahead of jobs data expected on Friday. Traders are also closely…
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aviation grapples with Middle East escalation By Reuters
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By Joanna Ploczynska LONDON (Reuters) – Rising tensions in the Middle East caused chaos in air travel, with global airlines diverting or canceling flights on Wednesday and regional airports, including Lebanon, Israel and Kuwait, showing long delays, according to FlightRadar24 data. Concerns about travel disruption as the conflict intensifies also…
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European shares defy global slump amid Mideast tensions, energy stocks jump By Reuters
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Written by Pranav Kashyap (Reuters) – European stocks rose on Wednesday, led by gains in energy and defense shares, defying declines in Asia and Wall Street after an Iranian missile attack on Israel exacerbated fears of a broader regional conflict. The European index rose 0.3 percent to 522.37 points. The…
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Israeli military says infantry, armoured units joining Lebanon ground operation By Reuters
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JERUSALEM (Reuters) – The Israeli army said on Wednesday that regular infantry and armored units would join ground operations in southern Lebanon, but added that their scope would remain limited and local. Israel said on Tuesday that commando units and paratroopers crossed a short distance across the border in the…
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Israeli military says infantry, armoured units joining Lebanon ground operation By Reuters
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JERUSALEM (Reuters) – The Israeli army said on Wednesday that regular infantry and armored units would join ground operations in southern Lebanon, but added that their scope would remain limited and local. Israel said on Tuesday that commando units and paratroopers crossed a short distance across the border in the…
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Australian top court dismisses ANZ’s appeal against share placement case By Reuters
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(Reuters) – The Federal Court has dismissed an appeal by ANZ Group against a lawsuit that found the lender guilty of failing to disclose a A$2.5 billion (US$1.73 billion) share offering, Australia’s corporate regulator said on Wednesday. While dismissing the appeal, the court upheld the original decision in a case…