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Global financial system must adapt to better serve economy, UN trade agency says

LONDON, Dec 2 (Reuters) - The financial system risks undermining global trade if it fails to adapt to the economy's needs, with developing countries likely to suffer the most, the UN Trade and Development Agency said on Tuesday. A UNCTAD report presented in London said ...
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Venezuela rejects sale of Citgo’s parent, vice president says

Dec 2 (Reuters) - Venezuelan Vice President and Oil Minister Delcy Rodriguez said on Tuesday the South American country rejects the 'fraudulent' and 'forced' sale of the parent company of refiner Citgo Petroleum in a legal process in the United States, after the sale ...
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Russia’s VTB eyes US-owned firm in drive to build farm sector champion

By Elena Fabrichnaya MOSCOW, Dec 2 (Reuters) - Russia's second-largest bank VTB is in talks to buy a major agricultural producer, CEO Andrei Kostin said on Tuesday, as part of its drive to create a national champion in the sector. Kostin said state-controlled VTB was ...
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US to announce ‘bridge payment’ for farmers next week, Rollins says

By Trevor Hunnicutt, Bo Erickson and Leah Douglas WASHINGTON, Dec 2 (Reuters) - Agriculture Secretary Brooke Rollins said on Tuesday that the Trump administration will announce a "bridge payment" for farmers next week that is designed to provide short-term relief while longer trade and aid ...
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San Francisco sues Kraft, Mondelez over ultra-processed foods

By Diana Novak Jones Dec 2 (Reuters) - The city of San Francisco sued Kraft, Mondelez, Coca-Cola and other makers of ultra-processed foods on Tuesday, accusing them of knowingly sickening California residents with addictive and harmful products. City Attorney David Chiu filed the lawsuit in San ...
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H&M announces designer collaboration with Stella McCartney

STOCKHOLM, Dec 2 (Reuters) - British fashion designer Stella McCartney will produce a collection in collaboration with H&M, the Swedish budget fashion giant said on Tuesday. The collection will launch in H&M stores and online in the first half of 2026, it said in ...
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Ford US sales down slightly in November as EVs drag

Dec 2 (Reuters) - Ford Motor Co on Tuesday reported a marginal drop in its U.S. auto sales in November, as sales of its electric vehicles fizzled following the end of tax credits. Demand for electric vehicles has taken a hit after U.S. President Donald ...
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SEC chief calls for redo of executive compensation disclosure rules

By Douglas Gillison NEW YORK, Dec 2 (Reuters) - Wall Street's chief regulator said in an address at the New York Stock Exchange on Tuesday that the U.S. Securities and Exchange Commission should reform rules requiring disclosure of executive compensation and should move to reduce ...
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Amazon to use Nvidia tech in AI chips, roll out new servers

By Stephen Nellis and Greg Bensinger LAS VEGAS, Dec 2 (Reuters) - Amazon.com's AWS cloud computing unit on Tuesday said it will adopt key Nvidia technology in future generations of its artificial intelligence computing chips as the firm ramps up efforts to get major AI ...
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OpenAI CEO Sam Altman declares ‘code red’ to improve ChatGPT amid rising competition in AI chatbots

SAN FRANCISCO (AP) - OpenAI CEO Sam Altman has set off a "code red" alert to employees to improve its flagship product, ChatGPT, and delay other product developments, according to The Wall Street Journal. The newspaper reported that Altman sent an internal memo to ...
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Citigroup faces $5 million bill to transport its lead from Singapore, sources say

By Pratima Desai LONDON, Dec 2 - Citigroup will move most of its lead stocks from Singapore to Malaysia or Taiwan at an estimated cost of $5 million due to limited storage space and a lack of lucrative rent deals, three sources said, three sources ...
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Citigroup hires BofA executive in prime brokerage push, source says

By Anirban Sen and Prakhar Srivastava Dec 2 (Reuters) - Citigroup has hired Bank of America executive Jillian Snyder as its head of capital introductions for North America, a person familiar with the matter said. Snyder will oversee the team that helps hedge fund clients connect ...
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