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Finish of easy-cash period goes to harm

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LONDON, Feb 1 (Reuters) – (This Feb. 1 story has been corrected to repair the identify of CIO within the “Going Personal” part to Nicoll from Nicole) The tip of the easy-cash period is over and its impression but to be felt on world markets, hopeful that the ache of aggressive price hikes and excessive … Read more

Norway wealth fund posts document $164 bln loss

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Loss in 2022 exceeds earlier document from 2008 Inflation, geopolitical tensions stay threat elements Document influx of cash from oil and gasoline trade OSLO, Jan 31 (Reuters) – Norway’s wealth fund, one of many world’s largest buyers, posted a document lack of 1.64 trillion crowns ($164.4 billion) for 2022, bringing to an finish a three-year … Read more

Unique: Mattress Tub & Past making ready to file chapter as quickly as this week

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NEW YORK, Jan 30 (Reuters) – Mattress Tub & Past Inc (BBBY.O) is making ready to hunt chapter safety as quickly as this week, and has lined up liquidators to shut further shops except a last-minute purchaser emerges, 4 folks accustomed to the matter stated on Monday. The timing of any chapter submitting was in … Read more

China’s 2022 smartphone gross sales plunge to lowest stage in a decade

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SHANGHAI, Jan 30 (Reuters) – China’s smartphone gross sales endured a file fall in 2022, tumbling 13% to their lowest stage in a decade as COVID controls and a slowing economic system sapped client urge for food, information from third-party analysis companies confirmed. The entire variety of gadgets shipped was 286 million, down from 329 … Read more

IBM cuts 3,900 jobs, misses annual money goal

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Jan 25 (Reuters) – IBM Corp (IBM.N) on Wednesday introduced 3,900 layoffs as a part of some asset divestments and missed its annual money goal, dampening cheer round beating income expectations within the fourth quarter. Chief Monetary Officer James Kavanaugh advised Reuters that the corporate was nonetheless “dedicated to hiring for client-facing analysis and improvement”. … Read more

Amazon’s AWS to speculate $35 bln in Virginia

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WASHINGTON, Jan 20 (Reuters) – Amazon.com Inc’s (AMZN.O) cloud companies division mentioned Friday it plans to speculate one other $35 billion by 2040 to broaden information facilities in Virginia. Amazon Net Providers (AWS) mentioned the brand new funding will create 1,000 jobs. Virginia Republican Governor Glenn Youngkin mentioned AWS will set up a number of … Read more

Alphabet cuts 12,000 jobs after pandemic hiring spree, refocuses on AI

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Jan 20 (Reuters) – Google’s father or mother Alphabet Inc (GOOGL.O) is reducing about 12,000 jobs because it faces “a distinct financial actuality”, it mentioned in a employees memo, doubling down on synthetic intelligence (AI) and axing employees who assist experimental tasks. The job cuts have an effect on 6% of its workforce, and follows … Read more

This is what Twitter misplaced in promoting income in remaining months of 2022

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NEW YORK/LONDON, Jan 20 (Reuters) – High advertisers on Twitter slashed their spending after Elon Musk’s takeover, in response to estimates compiled for Reuters by analysis agency Pathmatics, within the newest shock to the corporate’s dominant income supply. Fourteen of the highest 30 advertisers on Twitter stopped all promoting on the platform after Musk took … Read more

Brazil court docket grants chapter safety for retailer Americanas

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SAO PAULO, Jan 19 (Reuters) – A Rio de Janeiro court docket on Thursday accepted Brazilian retailer Americanas SA’s (AMER3.SA) chapter safety request, days after the corporate disclosed almost $4 billion in accounting inconsistencies which have sparked a authorized feud with collectors and traders. Americanas, a 93-year-old firm with shops throughout Brazil and a serious … Read more

Microsoft to shed 10,000 jobs, including to glut of tech layoffs

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DAVOS, Switzerland, Jan 18 (Reuters) – Microsoft Corp (MSFT.O) on Wednesday stated it could get rid of 10,000 jobs and take a $1.2 billion cost to earnings, as its cloud-computing prospects reassess their spending and the corporate braces for potential recession. The layoffs add to the tens of hundreds introduced in current months throughout the … Read more