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Biden will deliver Morehouse commencement address during a time of tumult on US college campuses
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Friday, May 17
by
SRN News
Global equity funds draw inflows on rate cut hopes, soft US economic data
(Reuters) – Global equity funds experienced strong demand for the third consecutive week, in the seven days to May 15, bolstered by a softer U.S. jobs report and lower-than-expected inflation figures, which increased expectations that the Federal Reserve may begin ...
Thursday, May 16
by
SRN News
Ford asks suppliers to cut costs in push to turn EV business profitable, memo says
By Abhirup Roy and Nora Eckert (Reuters) – Ford Motor Co has asked its electric-vehicle suppliers to reduce costs in an attempt to support profitability, saying “everything is on the table,” according to a company memo seen by Reuters. Discounts and sharp ...
Thursday, May 16
by
SRN News
Dow hits 40,000 on earnings boost, rate cut bets: Instant View
NEW YORK (Reuters – The Dow Jones Industrial Average surpassed 40,000 points for the first time on Thursday, the blue-chip index’s fastest 10,000 point-climb, powered by strong quarterly results and rising bets of interest rate cuts by the Federal ...
Thursday, May 16
by
SRN News
Newly privatised Toshiba to cut 4,000 jobs in restructuring drive
By Sam Nussey TOKYO (Reuters) – Japan’s Toshiba said on Thursday it will cut up to 4,000 jobs domestically as the industrial conglomerate accelerates restructuring under new ownership. Toshiba delisted in December due to a $13 billion takeover by a consortium ...
Wednesday, May 15
by
SRN News
Dollar sags as slower US inflation boosts rate cut expectations
By Tom Westbrook SINGAPORE (Reuters) – The dollar skidded to multi-month lows on Thursday after U.S. core inflation hit its slowest in three years and retail sales turned flat, which pulled forward expectations for rate cuts in the world’s biggest economy. Stocks ...
Wednesday, May 15
by
SRN News
Disney to dramatically cut spending for traditional TV networks
By Lisa Richwine (Reuters) – Walt Disney will cut its investment in programming for traditional television networks pretty dramatically as the company navigates the consumer shift to streaming, Chief Executive Bob Iger said on Wednesday. Iger said linear channels such as ABC ...
Tuesday, May 14
by
SRN News
Texas university leaders say hundreds of positions, programs cut to comply with DEI ban
AUSTIN, Texas (AP) — Texas universities eliminated or changed hundreds of jobs in recent months in response to one of the nation’s most sweeping bans on diversity programs on college campuses, school officials told lawmakers Tuesday. In the fullest public accounting of the new Texas ...
Tuesday, May 14
by
SRN News
Honda moves to cut China workforce with 1,700 voluntary layoffs, Nikkei reports
(Reuters) -Honda Motor is scaling down its full-time production workforce in China, with roughly 1,700 employees having agreed to leave thus far, as sales in the world’s second-largest economy decline, the Nikkei reported on Wednesday. GAC Honda Automobile, a joint venture between Honda and Chinese ...
Tuesday, May 14
by
SRN News
Converse to cut jobs as part of Nike’s cost-savings plan, Bloomberg News reports
(Reuters) -Footwear brand Converse will cut jobs as part of parent company Nike’s on-going $2 billion cost savings plan, Bloomberg News reported on Tuesday citing an internal memo. Nike had laid out a costs saving plan in December that would stretch over the next ...
Tuesday, May 14
by
SRN News
Argentina traders bet on another big rate cut as inflation eases
By Jorge Otaola BUENOS AIRES (Reuters) – Argentine market traders are betting the central bank will cut its benchmark interest rate again this week given the slowdown in monthly inflation and a planned Treasury debt auction, two money market sources and ...
Monday, May 13
by
The Center Square
Pritzker: $800 million cut memo sends message to balance budget
(The Center Square) – Gov. J.B. Pritzker says the message being sent by a memo directing state agencies to anticipate $800 million less to spend than what he ...
Monday, May 13
by
SRN News
Fed to cut rates in September, say nearly two-thirds of economists: Reuters poll
By Indradip Ghosh BENGALURU (Reuters) – The U.S. Federal Reserve will cut its key interest rate twice this year, starting in September, according to a stronger majority of economists polled by Reuters who broadly raised their inflation forecasts for a second ...
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