Category: Companies

Used Car Prices Pop Up Unexpectedly, Suggesting Inflation Woes Not Over

February 9, 2023
Business & Marketscar salesCompanieseconomic policieseconomyinflationMarketspersonal financeUSused car prices
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Used car prices jumped unexpectedly in January, which suggests that inflation woes are not over for car buyers. The news has the potential to squash optimistic predictions that inflation is heading downward, as the Federal Reserve continues to hike interest rates. Used car prices have increasingly become a point of interest for investors and for…

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Zoom Slashing Workforce by 15 Percent, CEO to Take 98 Percent Salary Cut

February 9, 2023
Business & MarketsCompanieseconomystaff layoffsUSworkforce reductionzoom
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Communications firm Zoom announced plans to lay off more than 1,000 employees globally after a pandemic-fueled growth spurt and subsequent decline, with the chief executive announcing a 98 percent reduction in his salary. “We have made the tough but necessary decision to reduce our team by approximately 15 percent and say goodbye to around 1,300…

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EU Complains Elon Musk’s Twitter Lacks Appetite for Censorship

February 9, 2023
Big Tech, Censorship, and SocialismBusiness & MarketscensorshipCompaniesEuropeEuropean UnionFeatured TopicsMedia & Big TechSocial MediaTechTwitterUSUS NewsWorld
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European Union authorities have complained that Twitter doesn’t seem to be taking the bloc’s fight against “disinformation” seriously by producing an incomplete report on compliance with its rules on censorship. Elon Musk’s Twitter lagged behind the likes of Google, Meta, and TikTok in the fight against “disinformation” over the past six months, the European Commission…

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EU Complains Twitter Seems to Lack Appetite for Censorship

February 9, 2023
Big Tech, Censorship, and SocialismBusiness & MarketscensorshipCompaniesEuropeEuropean UnionFeatured TopicsMedia & Big TechSocial MediaTechTwitterUSUS NewsWorld
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European Union authorities have complained that Twitter doesn’t seem to be taking the bloc’s fight against “disinformation” seriously by producing an incomplete report on compliance with its rules on censorship. Elon Musk’s Twitter lagged behind the likes of Google, Meta, and TikTok in the fight against “disinformation” over the past six months, the European Commission…

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World Shares Mixed After Wall Street Falls on Rate Hike Worries

February 9, 2023
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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BANGKOK—Shares advanced in Europe after a mixed session Thursday in Asia as uncertainty persists over interest rates and inflation. Benchmarks rose in Paris, London, Shanghai, and Hong Kong but fell in Tokyo, Seoul, and Sydney. U.S. futures gained while oil prices also were higher. Germany’s DAX added 1.4 percent to 15,621.11 and the CAC 40…

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Netflix Expands Crackdown on Account Sharing to 4 More Countries

February 9, 2023
Business & MarketsCompaniesMedia & Big TechNetflixstreaming
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Netflix said on Wednesday that it has expanded its crackdown on password sharing, which had eclipsed 100 million accounts, throttling the streaming giant’s ability to invest in new content. The California-based streaming giant first tested its crackdown in Latin America and is now rolling out the changes in Canada, New Zealand, Portugal, and Spain, the company said…

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Bed Bath & Beyond to Close More Stores

February 9, 2023
bankruptcyBed Bath and BeyondBusiness & MarketsCompanieseconomystore closureUS
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Bed Bath & Beyond said in a filing on Monday it will be closing 150 more stores as the struggling retailer cuts costs and works to turn around its beleaguered business. The retail chain has been reducing its brick-and-mortar footprint significantly over the past year. The latest round of closures builds on the previous shutdowns of…

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CVS Buying Spree Continues With $10.6 Billion Oak Street Deal

February 8, 2023
Business & MarketsCompaniescontinueCVSdeal
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CVS Health is plunging deeper into primary care services, buying primary care provider Oak Street Health for approximately $10.6 billion. The drugstore chain said Wednesday it would pay $39 per share in cash for each share of Oak Street in a deal expected to close this year. Oak Street runs care centers mostly for lower-to-middle…

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Shuttered South African Airline Comair Sues Boeing Over 737 MAX Purchases

February 8, 2023
BoeingBusiness & MarketsComairCompaniessue
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WASHINGTON—A shuttered South African airline sued Boeing Co. for fraud over its agreement to buy eight 737 MAX planes and seeks damages of at least $83 million. Boeing “placed profits over safety and led with a plan of deception,” Comair’s suit filed Monday in U.S. District Court in Seattle said. Boeing declined to comment. Comair…

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Hertz Has Fewer Teslas in Its Fleet Than Planned

February 8, 2023
Business & MarketsCompaniesfleetHertztesla
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Hertz Global Holdings Inc.’s rental fleet has less than half the number of Tesla cars it planned to order in 2022, its regulatory filing showed on Tuesday. Hertz’s fleet in the Americas peaked at 428,700 vehicles for the year ended Dec. 31, 2022, of which 11 percent were Tesla cars, the filing showed. The company…

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