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New Zealand to spend $1.6 billion for US maritime helicopters, Airbus jets

SYDNEY (Reuters) -New Zealand said on Thursday it would spend NZ$2.7 billion ($1.6 billion) to buy five MH-60R Seahawk helicopters and two Airbus A321XLR aircraft, the first major investment following a decision to replace the country’s aging defence fleet. NZ$2 billion will be used to ...
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Oil prices gain as US inventory withdrawals point to strong demand

By Katya Golubkova TOKYO (Reuters) -Oil prices gained slightly on Thursday as larger-than-expected declines crude oil and fuel inventories in the U.S., the world’s biggest oil user, supported expectations for steady demand. Brent crude futures were up 13 cents, or 0.19%, to $66.97 a barrel ...
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NZ’s Fonterra raises annual milk price forecast on stable diary prices

(Reuters) -New Zealand’s Fonterra Co-operative Group on Thursday increased its milk price forecast for the 2024/2025 season, banking on stable global dairy prices and solid sales book. The company increased the midpoint of its annual forecast for farmgate milk price – the price it pays ...
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Analysis-China faces pivotal welfare reform test as court ruling hits jobs, small firms

BEIJING (Reuters) -China’s top court ruling that makes it illegal for businesses and employees to avoid social insurance payments is stoking fears about jobs and the survival of small firms, forcing Beijing to confront the risks of long-promised welfare reform. The ruling, analysts and one ...
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FTC sues LA Fitness operators for ‘exceedingly difficult’ gym cancellation policies

NEW YORK (AP) — The U.S. Federal Trade Commission is suing the operators of LA Fitness, over allegations that they make it “exceedingly difficult” for consumers to cancel gym memberships and other related services offered in their clubs nationwide. In a Wednesday complaint, the FTC ...
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Analysis-BOJ chief’s dogged caution tempers board’s hawkish instincts

By Leika Kihara TOKYO (Reuters) -In 2024, Kazuo Ueda delivered Japan’s first interest rate hike in 17 years, a bold shift for a central bank once dominated by advocates of ultra-loose monetary settings – now, the Bank of Japan head is among the policy board’s ...
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Microsoft scales back Chinese access to cyber early warning system

WASHINGTON (Reuters) -Microsoft said on Wednesday it has scaled back some Chinese companies’ access to its early warning system for cybersecurity vulnerabilities following speculation that Beijing was involved in a hacking campaign against the company’s widely used SharePoint servers. The new restrictions come in the ...
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BofA names Faiz Ahmad, Mike Joo as co-heads of investment banking, memo says

(Corrects second-last paragraph to say Assef is already chair, not named chair) By Saeed Azhar NEW YORK (Reuters) -Bank of America promoted Faiz Ahmad and Mike Joo to co-heads of global investment banking as part of a broader leadership reshuffle in the business, according to an internal memo ...
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Petrobras chairman resigns to take position at Brazil’s oil regulator

SAO PAULO (Reuters) -Brazilian state-run oil firm Petrobras said on Wednesday that chairman Pietro Mendes has resigned from the role, as well as from his seat on the board of directors. Mendes is set to become a director at Brazil’s oil and gas regulator ANP, ...
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Dollar General recalls Donny Lau to join as finance chief

(Reuters) -Dollar General on Wednesday named former employee Donny Lau as its new chief financial officer, effective October 20, replacing Kelly Dilts. Lau was with the dollar chain for about six years and was the senior vice president of finance and strategy when he left ...
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FanDuel teams up with exchange operator CME for event contracts push

(Reuters) -Sports betting firm FanDuel has tied up with derivatives exchange CME Group to set its foot into the rapidly growing event contracts market, the companies announced on Wednesday. Event contracts allow investors to bet on the likelihood of specific events, ranging ...
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Exclusive-CVS holds off adding Gilead’s new HIV prevention shot to drug coverage lists

By Deena Beasley (Reuters) -CVS Health, which runs the largest U.S. pharmacy benefit manager, will not add Gilead Sciences’ new HIV prevention drug to its commercial plans for now, a spokesperson told Reuters, despite the medicine’s proven effectiveness. CVS based the decision on clinical, financial, and ...
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