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US weekly jobless claims fall to a nine-month low; Speed of productivity gains

Weekly jobless claims drop 3,000 to 183,000 Continuing claims decreased 11,000 to 1.655 million Productivity accelerated at a 3.0% rate in the fourth quarter Unit labor costs grow at a rate of 1.1% WASHINGTON (Reuters) – The number of Americans filing new applications for unemployment benefits fell to a nine-month low last week, as the …

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Adani Market Loss Snowball to $100 Billion in Shelved Stock Selling

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NEW DELHI (Reuters) – Shares of India’s Adani Group plunged on Thursday after market turmoil forced the conglomerate to abandon a significant $2.5 billion share offer, deepening its market losses to more than $100 billion and raising concerns about the potential systemic impact. The withdrawal of Al-Adani Company (ADEL.NS) The share sale was a dramatic …

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Airbus and Qatar Airways settle a bitter row over the A350

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PARIS, Feb. 1 (Reuters) – Airbus (AIR.PA) The two companies said on Wednesday that it and Qatar Airways had settled a dispute over the grounded A350s, to avoid a possible trial in the United Kingdom after a violent 18-month dispute that tore the lid off the global aircraft market. “Amicable and mutually acceptable settlement” ends …

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Hindenburg’s bet against Indian company Adani baffles short-selling rivals in the US

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Feb 1 (Reuters) – When Hindenburg Research revealed a short position in the Adani Group last week, some US investors said they were intrigued by the actual mechanics of trading it, because Indian securities rules make it difficult for foreigners to bet on companies there. The Hindenburg bet has been profitable so far. Its allegations, …

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Wall Street drops but off session lows after Fed rate hike, trading choppy

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Fed raises interest rates, sees ‘continued increases’ Indices down: Dow 0.96%, Standard & Poor’s 0.40%, Nasdaq 0.03% Feb 1 (Reuters) – U.S. stock indexes fell in choppy trade on Wednesday, bouncing back from session lows when the Federal Reserve raised interest rates by a quarter of a percentage point and said it expected “continued increases” …

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Exclusive: Electric Vehicle Maker Rivian Cuts 6% of Jobs Amid Price War – Internal Memo

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SAN FRANCISCO, Feb. 1 (Reuters) – Rivian Automotive Company (Revno) It is laying off 6% of its workforce in a bid to cut costs as the electric car maker, already suffering from low cash reserves and a weak economy, prepares for an industry-wide price war. In an email to employees Wednesday announcing the job cuts, …

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India's Adani has been criticized for losing $45 billion in shares, which has clouded a record share sale.

Adani forgoes selling shares worth $2.5 billion in a huge blow to the Indian businessman

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NEW DELHI (Reuters) – Gautam Adani’s parent company canceled the sale of its $2.5 billion shares in a dramatic reversal on Wednesday after criticism of short sellers in the United States wiped billions more from the value of the Indian tycoon’s shares. The withdrawal of Al-Adani Company (ADEL.NS) The share offer is a stunning setback …

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Gautam Adani is no longer the richest person in Asia as shares have deepened to $74 billion

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BENGALURU (Reuters) – India’s Gautam Adani lost the title of Asia’s richest man on Wednesday, as his group’s shares plunged to $74 billion after a short-selling report. A report by Hindenburg Research last week alleged improper use of offshore tax havens while raising concerns about the high debt and valuations of seven Adani-listed companies. And …

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AMD’s revenue beat targets, and Wall Street was relieved after Intel’s bleak outlook

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Jan 31 (Reuters) – US chip maker Advanced Micro Devices (AMD.O) On Tuesday, it reported revenue that beat Wall Street targets and said it expects business to pick up in the second half, spurring investors who saw the company profit from rival Intel. Shares rose about 1.5% in after-hours trading. Although AMD’s expectations were lower …

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Exxon will crush the profits of major western oil companies by $ 56 billion in 2022

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HOUSTON, Jan. 31 (Reuters) – Exxon Mobil Corporation (XOM.N) The company said on Tuesday that its net profit for 2022 amounted to $56 billion, and it made about $6.3 million per hour last year, setting not only a record for the company, but also a historic high for the western oil industry. Major oil companies …

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US seeks driver assistance documents from Tesla; The company raises its capital expenditure forecast

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WASHINGTON, Jan. 31 (Reuters) – Tesla Inc (TSLA.O) It revealed on Tuesday that it had received requests from the US Department of Justice for documents related to its fully autonomous driver-assistance and autopilot systems as regulatory scrutiny intensified. Reuters reported in October Tesla is under criminal investigation On claims that the company’s electric cars can …

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The Norwegian Wealth Fund records record losses of $164 billion

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The loss in 2022 surpassed the previous record from 2008 Inflation and geopolitical tensions remain risk factors Record flow of funds from the oil and gas industry OSLO (Reuters) – Norway’s wealth fund, one of the world’s largest investors, posted a record loss of 1.64 trillion crowns ($164.4 billion) for 2022, ending a three-year streak …

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