Year: 2023
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Amazon agrees deal with most Spanish workers over Cyber Monday walkout
MADRID (Reuters) – Amazon reached an agreement with most of its workers in Spain on Monday, avoiding the full impact of a planned one-hour strike per shift on one of the busiest online shopping days of the year, according to local union group CCOO and the company. Around 20,000 warehouse and delivery workers at Amazon’s…
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BlackRock Investment Institute cuts developed market stocks to ‘neutral’
(Reuters) – BlackRock Investment Institute on Monday cut its rating on developed market equities to “neutral”, after being “overweight” since the end of pandemic lockdowns in Western nations, due to attractive valuations. The institute, an arm of the world’s largest asset manager, said it had also turned more positive on the prospects of developed market…
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Gucci employees in Rome go on strike over creative office move
MILAN (Reuters) – A few dozen employees at fashion house Gucci in Rome went on strike on Monday against the company’s decision to move its design office from the Italian capital to Milan. The decision, which the company communicated to unions in October, would involve transferring 153 of 219 employees to Milan, almost 500 kilometres…
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Explainer-What deals can shoppers find this Black Friday?
By Juveria Tabassum, Savyata Mishra (Reuters) -Retailers are preparing for what they hope will be yet another record-setting global shopping spree on Black Friday, the fourth Friday of November, which this year is Nov. 24. Known for crowds lining up at big-box stores to pounce on doorbuster discounts during the early hours after American Thanksgiving,…
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OpenAI’s new-look board as Altman returns
(Reuters) -ChatGPT-maker OpenAI on Tuesday said it reached an agreement for Sam Altman to return as CEO days after his ouster, and also agreed in principle to partly reconstitute the board of directors that had dismissed him. Bret Taylor, formerly co-CEO of Salesforce and Larry Summers, former U.S. Treasury Secretary, along with Quora CEO and…
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Wall St climbs before holiday; investors optimistic Fed done hiking rates
By Caroline Valetkevitch NEW YORK (Reuters) -U.S. stocks ended higher on Wednesday on optimism that the Federal Reserve may be done raising interest rates and that the economy is still resilient. Economic reports on jobless claims, durable goods, and consumer sentiment seemed to suggest the economy is easing but may stay strong enough to avoid…
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Oil edges lower in choppy trade as OPEC+ delays meeting
By Nicole Jao NEW YORK (Reuters) – Oil prices fell nearly 1% in a volatile session on Wednesday as OPEC+ producers unexpectedly delayed a meeting on production cuts, raising questions about global crude supplies. Brent futures settled 49 cents lower to $81.96 a barrel, after falling more than 4% to a low of $78.41 earlier…
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Analysis-Temu, Shein far lag Amazon as online holiday shopping ramps up
By Arriana McLymore NEW YORK (Reuters) -Upstart online retailers Temu.com and Shein are drawing millions of window-shoppers to their websites this holiday season, but they far lag market leader Amazon.com where it counts – turning those visits into actual sales. Nine out of ten visitors to their websites were window shoppers, not buyers, according to…
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US consumers worry inflation will pick up again, UMich survey finds
(Reuters) -U.S. consumers’ inflation expectations rose for a second straight month in November despite growing signs that price increases are in fact slowing, according to a survey released Wednesday that may create some worry for Federal Reserve policymakers. American households see inflation accelerating to 4.5% over the next year, up from 4.2% in October and…
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Analysis-Canada’s EV charging strategy reaches fork in the road
By Rod Nickel WINNIPEG, Manitoba (Reuters) – Canada needs to shift gears on its strategy of building electric vehicle (EV) charging stations across the country, advocacy groups and government officials say, but they are trying to steer Prime Minister Justin Trudeau’s Liberal government down different roads. Trudeau’s rollout strategy is focused on building EV ports…