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Inflation jumps to its highest level in three years

(NEW YORK) -- Inflation rose for a second consecutive month as the U.S.-Israeli war with Iran continued to send gasoline prices surging in April, government data on Tuesday showed. The inflation report matched economists' expectations.Prices rose 3.8% in April compared to a year earlier, ...
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Palestinian man shot dead while climbing West Bank barrier into Israel in search of work

RAMALLAH, West Bank (AP) - Palestinian authorities said that Israeli police have shot and killed a Palestinian man as he attempted to climb the concrete barrier separating the occupied West Bank from Jerusalem. The Palestinian Health Ministry and the Palestinian Red Crescent identified the man ...
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US tariff whiplash pushed toy factory in China to brink of collapse

By Casey Hall SHANGHAI, May 13 (Reuters) - Had the United States kept tariffs on Chinese imports at triple digits for just one more day last year, Huntar Company would have collapsed, said David Cheung, who runs the family-owned toy maker with his brother Jason. When ...
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Siemens Q2 profit misses forecasts, orders surge

By John Revill ZURICH, May 13 (Reuters) - Siemens reported weaker-than-expected second quarter earnings on Wednesday, although future orders increased despite the German engineering group highlighting a "very demanding" geopolitical environment. The trains to industrial software maker said its sales in the three months to the ...
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US grocery prices rose in April, but gas spikes weren’t the only reason

Americans paid more for their groceries last month, but high gasoline prices resulting from the Iran war were only one of the reasons why. Prices for food eaten at home rose 2.9% in April compared to the same month a year earlier, according to government ...
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Asian shares trade mixed as AI excitement fades and war worries continue

TOKYO (AP) - Asian shares traded mixed early Wednesday, as fading enthusiasm over AI and other technology stocks gradually put the brakes on Wall Street's record-setting run. Japan's benchmark Nikkei 225 edged up less than 0.1% to 62,774.94. South Korea's Kospi index gained 0.9% to ...
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JPMorgan to reshuffle investment bank chiefs on wider overhaul, FT reports 

May 12 (Reuters) - JPMorgan Chase is set to reshuffle senior roles in its investment bank as part of a wider reorganization, the Financial Times reported on Tuesday, citing people familiar with the matter. As part of the reshuffle, coverage chief Dorothee Blessing, global head ...
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DOJ reaches $30 million deal with PayPal over minority-owned business program

(WASHINGTON) -- PayPal has agreed to waive $30 million in processing fees in order to resolve a federal investigation into an investment program that sought to boost Black and minority-owned businesses, the Justice Department announced Tuesday.The probe is just one of a number launched ...
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Soaring fuel costs draw attention to higher prices at name-brand gas stations

(LOS ANGELES) -- A Chevron gas station in Los Angeles elicited headlines in recent weeks for charging an eye-popping $8.71 a gallon, becoming an emblem for the spike in fuel costs set off by the Iran war.Sky-high gas prices nationwide owe primarily to a ...
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Blue Owl retail private credit fund inflows shrink amid investor nerves

May 12 (Reuters) - Blue Owl has seen a 95% drop in new investments at its biggest credit fund for retail investors, according to a regulatory filing, as direct lending came under rising scrutiny. The Blue Owl Credit Income fund (OCIC) ...
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Trump FDA chief is leaving after angering pharma CEOs, vaping lobbyists and anti-abortion groups

WASHINGTON (AP) - The head of the Food and Drug Administration, Dr. Marty Makary, is resigning after a rocky tenure that drew months of complaints from health industry executives, anti-abortion activists, vaping lobbyists and other allies of President Donald Trump. He steps down after just ...
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Americans love their iPhones (though sometimes they wish they could live without them)

SAN FRANCISCO (AP) - The American obsession with the iPhone is complicated, as most love-hate relationships are. It sometimes seems like a talisman so magical that we can't fathom living without all the pleasures and conveniences that it bestows almost anytime or anywhere. The iPhone, ...
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