Economy

UPDATE 1-EU warns Musk that Twitter faces ban over content moderation -FT

  • December 01, 2022 05:12 AM PST | Reuters
 UPDATE 1-EU warns Musk that Twitter faces ban over content moderation -FT

(Adds details, background) Nov 30 (Reuters) - The European Union has threatened Elon Musk's Twitter with a ban unless the billionaire abides by its strict rules on content moderation, setting up a

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FACTBOX-Corporate America lays off thousands as recession worries mount

FACTBOX-Corporate America lays off thousands as recession worries mount

  • December 01, 2022 04:36 AM PST | Reuters

(Adds Kraken, CNN) Nov 30 (Reuters) - U.S. companies, from tech majors to consumer firms, are bracing for a potential economic downturn by shrinking their employee base to streamline operations. Job

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Fed's Cook says time nearing to hike rates in smaller steps

Fed's Cook says time nearing to hike rates in smaller steps

  • December 01, 2022 04:35 AM PST | Reuters

By Michael S. Derby NEW YORK, Nov 30 (Reuters) - Federal Reserve Governor Lisa Cook said on Wednesday it could soon be time for the U.S. central bank to take its foot off the gas when it comes to its

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UPDATE 2-Kraken to cut about 1,100 global jobs as crypto winter bites

UPDATE 2-Kraken to cut about 1,100 global jobs as crypto winter bites

  • December 01, 2022 04:21 AM PST | Reuters

(Adds details, background) Nov 30 (Reuters) - Cryptocurrency exchange Kraken said on Wednesday it would cut its global workforce by 30%, or about 1,100 employees, citing tough market conditions that

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Italy working on bank help for Lukoil plant, direct support an option

Italy working on bank help for Lukoil plant, direct support an option

  • December 01, 2022 04:01 AM PST | Reuters

By Giuseppe Fonte and Valentina Za ROME (Reuters) - Italy is working with banks to unlock financing for a Lukoil-owned refinery in Sicily while also considering direct state intervention to keep the

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Wall Street shares muted, Treasury yield higher with Powell in focus

Wall Street shares muted, Treasury yield higher with Powell in focus

  • December 01, 2022 03:57 AM PST | Reuters

By Sinéad Carew and Dhara Ranasinghe LONDON (Reuters) - After rallies in overseas markets led by hopes for a China reopening, Wall Street equities were going in the opposite direction on Wednesday as

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UPDATE 1-UK public's inflation expectations ease in Nov - Citi/YouGov

UPDATE 1-UK public's inflation expectations ease in Nov - Citi/YouGov

  • December 01, 2022 03:56 AM PST | Reuters

(Adds detail from report) By David Milliken LONDON, Nov 30 (Reuters) - The British public's expectations for inflation over the coming years eased back further in November from record highs reached in

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Job openings data shows modest progress for Fed's labor market hopes

Job openings data shows modest progress for Fed's labor market hopes

  • December 01, 2022 03:45 AM PST | Reuters

By Howard Schneider WASHINGTON (Reuters) - U.S. job openings edged lower in October, moving one closely-watched measure of the labor market in the direction Federal Reserve officials hope to see as

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EXPLAINER-Why the U.S. Inflation Reduction Act has Europe up in arms

EXPLAINER-Why the U.S. Inflation Reduction Act has Europe up in arms

  • December 01, 2022 03:41 AM PST | Reuters

By Leigh Thomas PARIS, Nov 30 (Reuters) - French President Emmanuel Macron will use a state visit to Washington this week to press European Union concerns about the United States' huge new green

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UPDATE 1-Crypto exchange Kraken to cut about 1,100 global jobs

UPDATE 1-Crypto exchange Kraken to cut about 1,100 global jobs

  • December 01, 2022 03:36 AM PST | Reuters

(Adds details from statement, background) Nov 30 (Reuters) - Cryptocurrency exchange Kraken said on Wednesday it would cut its global workforce by 30%, or about 1,100 employees, citing tough market

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UPDATE 1-CNN informs employees that layoffs are under way - memo

UPDATE 1-CNN informs employees that layoffs are under way - memo

  • December 01, 2022 03:34 AM PST | Reuters

(Updates with details from the memo, file photos) Nov 30 (Reuters) - Warner Bros Discovery-owned CNN's top boss Chris Licht informed employees in an all-staff memo on Wednesday that layoffs are under

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