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Nestle CEO axed after probe into complaints of favoritism, CFO says

By John Revill ZURICH (Reuters) -Nestle received complaints in May of improper favoritism by ex-CEO Laurent Freixe along with reports he was in a romantic relationship with an employee, a senior company executive said on Wednesday, two days after Freixe was sacked. Freixe was on Monday ...
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Nasdaq Verafin, BioCatch strike partnership to curb payments fraud

(Reuters) -Nasdaq Verafin and fraud detection firm BioCatch said on Wednesday they had formed a strategic partnership to combine their technologies to combat rising payments fraud. Banks and payment firms are facing mounting pressure to protect customers from scams and social engineering schemes that prey ...
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Exclusive-ConocoPhillips says it will reduce workforce by 20-25%

By Georgina McCartney and Arathy Somasekhar HOUSTON (Reuters) -U.S. oil and gas producer ConocoPhillips will cut 20-25% of its workforce, a company spokesperson said Wednesday.  Employees received an email this morning containing a video message from CEO Ryan Lance detailing the plans, three sources told Reuters. ...
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Fed’s Bostic: Inflation still main concern, though single quarter-point cut likely warranted this year

By Howard Schneider WASHINGTON (Reuters) -High inflation remains the U.S. Federal Reserve’s main risk, though evidence of a weaker labor market still likely warrants a single quarter-point rate cut this year, Atlanta Fed President Raphael Bostic said on Wednesday. After four years with inflation above the ...
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Welcome to wplace: A chaotic, collaborative digital canvas where users ‘paint the world’

NEW YORK (AP) — In one new corner of the internet, users are invited to “paint the world.” And paint they have. Welcome to wplace — an ever-evolving, gamified global map overflowing with drawings made on a more than 4-trillion-pixel canvas. Images of Icelandic singer ...
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What is phantom energy? The hidden electricity drain explained

The lights are off, the house is quiet and nothing seems to be running. But electricity is silently flowing through the plugs in your home. This hidden drain is known as phantom energy. Also called vampire energy, the wasted electricity comes from leaving devices plugged ...
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Jamaica holds general election as island shaken by corruption, inequity and economic concerns

KINGSTON, Jamaica (AP) — Jamaica was holding a general election on Wednesday that many believe could be a defining moment for an island shaken by corruption, inequity and economic concerns. Prime Minister Andrew Holness of the Jamaica Labor Party is seeking a third term and ...
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Financial crime watchdog calls for countries to come clean on shell companies

By Elizabeth Howcroft and Tommy Reggiori Wilkes PARIS (Reuters) -The head of the global financial crime watchdog has called on countries to come clean on the use of shell companies, calling them the “getaway car” for criminals, and said the problem would be a key ...
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Fed’s Musalem says policy in right place, warns of job market risks

By Michael S. Derby (Reuters) -St. Louis Federal Reserve President Alberto Musalem said on Wednesday the U.S. central bank’s monetary policy is in the right place given current economic data, in remarks that did not give a clear signal whether he supports an interest rate ...
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Early signs emerging of euro’s beefed-up global status, ING says

LONDON (Reuters) -There is early evidence that bond issuers and investors are making greater use of the euro, ING said in a report published on Wednesday to mark 100 days since ECB chief Christine Lagarde said the euro could become a viable dollar alternative. The ...
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Campbell’s forecasts muted fiscal 2026 on tariff pressures, slow demand

(Corrects to add dropped word in paragraph 1) (Reuters) -Campbell’s Co forecast annual sales and profit below Wall Street estimates on Wednesday, pressured by weak demand for snacks and ready-to-eat meals as well as higher costs from tariffs. The maker of Goldfish crackers and Campbell’s soups ...
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Nuveen partners with Hunter Point and Temasek for private credit push

(Reuters) -Investment manager Nuveen’s private debt arm has partnered with Hunter Point Capital and Temasek, the company said on Wednesday, as it furthers its push into the fast-growing slice of corporate financing market. Under the agreement, Hunter Point and Temasek will make minority investments in ...
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