Category: Business
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German government unveils budget fixes as way out of crisis
By Christian Kraemer BERLIN (Reuters) – Germany’s ruling coalition unveiled a supplementary budget on Monday that will temporarily lift a self-imposed cap on borrowing after a constitutional court ruling tore up the government’s spending plans. The budget, which parliament must approve, will see Germany suspend its constitutionally enshrined debt brake for a fourth year in…
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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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Oil settles lower ahead of OPEC+ decision
(This Nov. 24 story has been corrected to add weekly loss data in paragraph 2 and show that there was no weekly oil price gain in the headline and paragraph 1) By Laura Sanicola (Reuters) – Oil fell on Friday as the release of some hostages in Gaza reduced the geopolitical risk premium ahead of…
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Exclusive-Choice Hotels prepares to challenge Wyndham’s board -sources
By Anirban Sen (Reuters) – Choice Hotels International is preparing to nominate directors to the board of rival Wyndham Hotels & Resorts, seeking to break a stalemate in an $8 billion takeover battle, people familiar with the matter said. Choice has become a Wyndham shareholder by snapping up its shares in the open market and…
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Factbox-Airline staff seek new contracts amid booming travel demand
(Reuters) -North American pilots and flight attendants are pushing for better pay and working conditions during their talks over new job contracts with company managements. Members at some unions have voted to authorize a strike if a new contract is not reached. The aggressive stance comes as the U.S. airline industry struggles to boost staff…
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Marketmind: Stocks stall after VIX hits pre-COVID low
A look at the day ahead in U.S. and global markets from Mike Dolan Global markets took a sharp intake of breath on Monday after seeing Wall St’s ‘fear gauge’ hit its lowest since before the pandemic hit late last week and as China major stock indexes continue to wane. As U.S. markets return in…
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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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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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Genesis sues Gemini over $689 million in customer withdrawals
By Dietrich Knauth NEW YORK (Reuters) -Crypto lender Genesis Global on Tuesday sued partner Gemini Trust Co, seeking to recover more than $689 million that customers of the companies withdrew during a “run on the bank” that caused Genesis to collapse into bankruptcy. Genesis in the lawsuit said up to 230,000 users in the two…
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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…