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Tesla brings forward new models as profits slump

The EV maker brings forward launch plans for new models as profits drop by more than half.

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China’s durian output to quadruple in 2024, processing poised to permeate with demand ‘on a rapid rise’

Chinese-produced durian is set to be available to the public in July, with production from the tropical island of Hainan likely to reach 200 tonnes this year, although Thailand and Vietnam are set to remain the largest sources.

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FTC Bans Worker Noncompete Clauses

The rule would prohibit companies from limiting their employees’ ability to work for rivals, a change that could increase competition and boost wages.

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Pensioners' fears over income tax burden

Charities report heightened concern among pensioners who fear being dragged into paying income tax.

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The women-only co-working spaces fighting to survive

Women-only co-working spaces are part of the new hybrid working landscape, but they divide opinion.

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Spotify turns up volume to make record profits

The music streaming service reports record profits of over €1bn (£860m) after laying off 1500 staff.

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Brace for ‘third wave’ of China bond defaults amid high financing costs, slow growth and tighter state policies, S&P says

China could face a third wave of corporate bond defaults, induced by high financing costs, slow economic growth and tighter government policies, S&P analysts said. Local government financing vehicles may be the weakest link.

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Tesla Earnings Report: Revenue Fell to $21.3 Billion, Adding to Strategy Concerns

The first-quarter results are likely to fuel worries that competitors will continue grabbing a bigger slice of a market dealing with slowing electric car sales.

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China is running a full-court press for global arbitration clients. What’s the verdict so far?

As China works to sell itself as a viable destination for international firms to air their disputes through arbitration, more must be done for these efforts to meet with success, analysts and professionals say.

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Fragments of Bird Flu Virus Discovered in Milk

The milk poses virtually no risk to consumers, experts said. But the finding suggests that the outbreak in dairy cows is wider than has been known.

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Howie Schwab, ESPN Researcher and Trivia Star, Dies at 63

He stepped out of his behind-the-scenes role in 2004 when he was cast as the ultimate sports know-it-all on the game show “Stump the Schwab.”

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‘It Is Desolate’: China’s Glut of Unused Car Factories

Manufacturers like BYD, Tesla and Li Auto are cutting prices to move their electric cars. For gasoline-powered vehicles, the surplus of factories is even worse.

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Air traffic meltdown boss defends staff working from home

Air traffic control boss says last summer's outage would have been worse if staff had not worked remotely.

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The Way Advisers Handle Your Retirement Money Is About to Change

More investment professionals will be required to act in their customers’ best interest when providing advice about their retirement money.

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Post Office boss obsessed with pay says ex-HR chief

Nick Read repeatedly made threats to resign over the issue, former Post Office HR chief claims.

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JetBlue shares tumble nearly 19% after airline lowers 2024 revenue outlook

JetBlue said second-quarter revenue would likely drop as much as 10.5% on the year.

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General Motors raises 2024 guidance after big first-quarter earnings beat

GM's North American operations, driven by truck sales, were largely responsible for the company's first-quarter beat and guidance raise, the automaker said. 

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E.W. Scripps exploring sale of Black-culture broadcast network Bounce TV

E.W. Scripps has received inbound interest in its Black-culture network Bounce TV, CEO Adam Symson said in an exclusive CNBC interview.

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Phyllis Pressman, Luxury Superstore Matriarch, Is Dead at 95

She started working at Barneys to be closer to her husband. Then, she became the architect of the Chelsea Passage, the home goods bazaar that helped make it an enticing destination.

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Supreme Court Seems to Side With Starbucks’ Challenge to Labor Ruling

The case seeks to limit the National Labor Relations Board’s ability to obtain court intervention in labor cases.

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G.M. Reports Big Jump in Profit on Gasoline Car Sales

General Motors has struggled with electric vehicles and in foreign markets but it is selling lots of combustion engine cars and trucks in North America.

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Trump Set to Receive $1 Billion Extra Trump Media Shares

The former president is in line for a windfall after the stock price of Trump Media hit performance targets in its first few weeks of trading, raising the value of his already sizable stake.

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Walmart-backed fintech One introduces buy now, pay later as it prepares bigger push into lending

One's expanding role at Walmart raises the possibility that the company could force Affirm and others out of some of the most coveted partnerships in retail.

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PepsiCo earnings beat estimates but product recalls, weaker lower-income consumer hurt U.S. sales

PepsiCo's volume and sales growth were better in most international markets than in its North America markets.

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Husband of ex-Post Office boss advised on IT 'bug'

A decision to use "less emotive" words for problems with Horizon is called "Orwellian", inquiry hears.

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In Silicon Valley, You Can Be Worth Billions and It’s Not Enough

Andreas Bechtolsheim, the first investor in Google, has an estimated $16 billion fortune. He recently settled charges that he engaged in insider trading for a profit of $415,726.

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Mortgage costs rise as banks confirm higher rates

The increases come after forecasts for when the Bank of England will cut interest rates are pushed back.

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Baltimore Says Owner of Ship That Hit Key Bridge Was Negligent

The owner and manager of the cargo ship that downed the Francis Scott Key Bridge asked a judge to exonerate them from liability. The city argued otherwise.

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China, Europe can look past disputes to cultivate food trade, EU agriculture commissioner says

Though trade ties have taken a hit in other areas, the EU’s agriculture commissioner says a stronger relationship between China and Europe can and should exist in food and farming products.

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China’s ‘extreme’ national security focus a drag on business, US trade group says

A US business lobby has issued a report asking for clear guidelines on what activity is acceptable under China’s new security laws, as well as other suggestions for improving investor confidence.

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Petrol prices on UK forecourts hit 150p a litre

Rising oil prices have lifted the cost of filling up but it may prove short-term, claim experts.

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Donors Stay Largely Silent Amid New Wave of Campus Protests

Robert Kraft, an alumnus of Columbia, suggested he would withhold donations to the school. Other alumni are keeping quiet.

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UK borrowing casts doubt on pre-election tax cuts

Government borrowing for the year was £6.6bn higher than expected, according to new figures.

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The Best Fish Is Also the Most Local. Why Is It So Hard to Find?

Seafood caught in nearby waters has long been left out of the farm-to-table movement. But these people have set out to get it into stores and restaurants.

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‘Pay Later’ Lenders Have an Issue With Credit Bureaus

Firms like Experian and TransUnion say it is time for “buy now, pay later” loans to appear on consumer credit reports. The lenders aren’t ready to sign on.

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Abortion Data Wars: States and Cities Debate How Much Information to Collect

Some states with Republican-controlled legislatures want more data, while some controlled by Democrats want less, fearing it could be used to target patients or providers.

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Cross-border synergy with China can help US more quickly adopt EVs

Despite US fears about an overcapacity in Chinese green teach, China’s market share of solar modules and electric vehicles is smaller than that of other competitors. “Cooperative competition” between manufacturers can help both countries synergize their green industry transitions.

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China bubble tea chain plunges in Hong Kong debut

Chabaidao's market debut was the Asian financial hub's largest initial public offering so far this year.

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Microsoft Makes a New Push Into Smaller A.I. Systems

The company that has invested billions in generative A.I. pioneers like OpenAI says giant systems aren’t necessarily what everyone needs.

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Slide Over, Auntie: Young Chinese Find Tasty Meals in Senior Canteens

The community canteens, offering huge plates for a dollar or two, have become popular among penny-pinching young professionals.

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Australia PM calls Elon Musk an 'arrogant billionaire'

Anthony Albanese's comments come amid a feud over X's reluctance to remove footage of a stabbing.

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US watchdog sues to block $8.5bn handbag takeover

The US competition watchdog has taken legal action to stop Tapestry's merger with rival Capri.

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How robots are taking over warehouse work

At Ocado's newest warehouse robotic arms are helping to pack customer orders.

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Canton Fair: overseas buyers pour in, leaving Chinese exporters to ask ‘why so many foreigners?’

Foreign buyers have returned to China’s largest trade exhibition, drawn by the array of new energy vehicles and other green products on offer at the Canton Fair.

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Three-year-olds groomed online, charity warns

IWF says many were likely filmed remotely while using phones or other handheld devices at home.

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FTC Sues to Block $8.5 Billion Tapestry-Capri Merger

The deal between Coach’s owner, Tapestry, and the parent of Michael Kors, Capri Holdings, is intended to create a U.S. luxury group to compete with the European industry giants.

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Golden Visa Programs, Once a Boon, Lose Their Luster

Spain is the latest European country to end its program, which brought in billions of euros from real estate investors seeking residency status but worsened a housing crisis for locals.

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FTC sues to block Coach parent Tapestry's acquisition of Capri Holdings

The FTC argued the combination of Tapesty and Capri would hurt consumers and workers.

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TikTok Faces E.U. Inquiry Over ‘Addictive’ Features

European officials threatened to fine TikTok and force it to remove some features, the latest regulatory challenge for the Chinese-owned social media app.

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Express files for bankruptcy, plans to close nearly 100 stores as investor group looks to save the brand

Longtime mall retailer Express filed for bankruptcy and plans to close nearly 100 stores as an investor group looks to save it from extinction.

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Nina Jankowicz Forms New Group to Defend Disinformation Research

The group intends to fight what its leader, Nina Jankowicz, and others have described as a coordinated campaign by conservatives and their allies to undermine researchers who study disinformation.

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Boeing expects slower production increase of 787 Dreamliner because of parts shortages

Boeing reports quarterly results before the market opens on Wednesday.

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The Fight to Fend Off Bird Flu With Lasers and Inflatable Dancers

Some poultry growers are turning to innovative tactics to protect their flocks, deploying deterrents like drones, air horns, balloons and decoy predators.

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What investors should know about the UAW's organizing drive of VW

The historic vote could have wide-ranging impacts on other automakers, organized labor and the overall U.S. automotive industry.

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States Move to Ban Deepfake Nudes to Fight Sexually Explicit Images of Minors

Legislators in two dozen states are working on bills, or have passed laws, to combat A.I.-generated sexually explicit images of minors.

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Rail strikes announced for May Bank Holiday week

Train drivers will stage walks-out between 7 and 9 May while overtime bans will disrupt services.

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How Cable News Covered Day 1 of Trump’s Criminal Trial

TV networks began the challenging assignment on Monday of covering former President Trump’s trial without the luxury of cameras inside the courtroom.

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Martin Wygod, a Winner on Wall Street and the Racetrack, Dies at 84

After he made a fortune selling prescription drugs and providing medical information online, he and his wife became leading breeders of thoroughbred horses.

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Luxury real estate prices just hit an all-time record

Luxury real estate sales increased more than 2%, posting their best year-over-year gains in three years, according to Redfin.

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Meet the private doctor to the wealthy — at $40,000 a year

The rise of family office-style medical practices reflects the surge in wealth and growing demand for hyper-personalized, data-driven health care.

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Disney technology executive Aaron LaBerge to leave company for personal reasons

Disney Entertainment CTO Aaron LaBerge is leaving the company for personal reasons, according to a company memo. A search for his replacement is underway.

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Everton Seeks Alternative Buyer as Deal With 777 Partners Falters

With a proposed sale stalled seven months after it was announced, a financially strapped Premier League team is pursuing a backup plan.

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Bird Flu Is Infecting More Mammals. What Does That Mean for Us?

H5N1, an avian flu virus, has killed tens of thousands of marine mammals, and infiltrated American livestock for the first time. Scientists are working quickly to assess how it is evolving and how much of a risk it poses to humans.

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FIFA Said to Be Close to TV Deal With Apple for New Tournament

The agreement would give the tech company worldwide rights for a monthlong World Cup-style competition between top teams set to take place next year.

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FTSE 100 stock index closes at new all-time high

A weak pound and hopes of easing tensions in the Middle East drive up the UK's top stock index.

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Delta Air Lines gives staff another 5% raise, hikes starting wages to $19 an hour

Delta is the country's most profitable airline and has repeatedly lifted staff pay.

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Ex-JetBlue CEO Robin Hayes to run Airbus North America

The recently departed CEO will be managing relationships with customers in North America, including his former airline and Spirit.

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Tesla Will Recall Cybertruck in Latest Setback

A federal auto safety agency said the accelerator pedal on the pickup truck, sales of which began in late 2023, could become stuck, increasing the risk of accidents.

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China’s campaign to win investment wavers as overseas capital plays waiting game

Despite its attempts to woo back foreign investment, China has yet to see a hoped-for return of overseas capital as enterprises express hesitation to jump back into the fray.

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Can the WNBA Make Money?

A wave of star power has lifted hopes that viewership will pick up for the women’s league.

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How Can Elon Musk Reassure Tesla Investors?

The electric vehicle maker has announced price cuts and a Cybertruck recall ahead of Tuesday’s pivotal earnings report.

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Thames Water makes bid to lift bills by up to 44%

The troubled water firm pledges to invest more in the environment ahead of a key meeting with Ofwat.

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For Sale: A Rare Klimt Portrait, Valued at $32 Million. But of Whom?

The painting’s re-emergence after decades has come with a swirl of questions about its subject, one of three related teenage girls.

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Is Online Shopping Bad for the Planet?

In theory, getting deliveries can be more efficient than driving to the store. But you may still want to think before you add to cart.

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Tesla’s closest Chinese rival, Li Auto, slashes prices as EV discount war spreads to premium market

Li Auto , Tesla’s nearest rival in mainland China, reduced the price of all its vehicles by up to 5.7 per cent, just a day after the US carmaker offered discounts to local customers amid an escalating discount war.

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China’s Pinduoduo Has Reshaped Discount Shopping

Pinduoduo appeals to people seeking deals and “downgraded spending,” as consumer purchasing in China has slowed recently amid economic rockiness.

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How can China remedy deflation risks without ditching long-held economic strategy?

Beijing’s prudent monetary moves and an emphasis on restructuring local government debt have sparked debate over how long it will take policymakers to ‘walk it off’.

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‘Aging in Place, or Stuck in Place?’

Homeownership is not the boon to older Americans that it once was.

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How Chinese firms are using Mexico as a backdoor to the US

Chinese firms are racing to set up factories in Mexico to bypass US tariffs and sanctions.

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Denny Walsh, Reporter Who Tussled With Mayors and Editors, Dies at 88

He won a Pulitzer Prize for investigative reporting in 1969 and later joined The New York Times, which eventually fired him.

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Americans’ New TV Habit: Subscribe. Watch. Cancel. Repeat.

Many more people are jumping from one streaming subscription to another, a behavior that could have big implications for the entertainment industry.

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After NBA Bans Jontay Porter for Gambling, Some See Glimpse of Sports’ Future

The N.B.A. banned a player for life for betting on games, a practice some worry could become more prevalent with the rise of wagering on sports.

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China trade body vows legal action over ‘unreasonable’ US Section 301 probe into Chinese shipbuilders, maritime firms

China’s trade promotion body CCPIT calls move ‘discriminatory’, blames ‘lack of competitiveness’ for US shipping industry downturn.

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Cricket, a big business in India, brings star power to the U.S. with the country's first world cup

A cricket world cup is arriving in the U.S. for the first time as the country explores its future with the sport.

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Saturday Mornings With the ‘Voice of Problem Gambling,’ Craig Carton

Craig Carton, the bombastic sports broadcaster, shows a different side on a weekly show that focuses on the stories of gambling addicts like himself.

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China’s king-of-the-hill status shaky as offshore exploration diversifies rare earth supply chain

With more countries searching for – and finding – stores of rare earth minerals, China’s former near-monopolist role in the trade of the metals is gradually being eroded.

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Shining example: how China is propelling gold’s record-breaking rally

Wars in the Middle East and Ukraine, and continuing lower US interest rates have burnished gold’s billing as an investment, but it is the unrelenting Chinese demand that is juicing the rally.

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CNN’s Coverage of Man Who Set Himself on Fire Shows Challenges of Live News

There was both praise and criticism of the legal analyst and anchor, Laura Coates, and the network’s split-second decision to show the graphic footage.

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Scientists Fault Federal Response to Bird Flu Outbreaks on Dairy Farms

Officials have shared little information, saying the outbreak was limited. But asymptomatic cows in North Carolina have changed the assessment.

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Inside Novo Nordisk, the Company Behind Ozempic and Wegovy

Novo Nordisk’s factories work nonstop turning out Ozempic and Wegovy, its blockbuster weight-loss drugs, but the Danish company has far bigger ambitions.

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Could the Union Victory at VW Set Off a Wave?

Some experts say the outcome at a plant in Chattanooga, Tenn., may be organized labor’s most significant advance in decades. But the road could get rockier.

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Frederick Celani, Who Made a Career as a Con Man, Dies at 75

His serial frauds included a waterfront development in Buffalo, a civil rights law firm in California and a package delivery company in Springfield, Ill.

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Most people on weight loss drugs are spending less on restaurants and takeout, survey says

The findings add to concerns that GLP-1s could take a bite out of the bottom lines of some of the biggest restaurant companies and packaged food makers.

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A Bill to Limit Canada’s Trade Negotiators on Farm Goods Edges Nearer to Law

The measure from a member of the Bloc Québécois would ban changes to the supply management system for dairy, poultry and eggs.

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A Man Hailed as Cindy Birdsong’s Rescuer Is Accused of Exploiting Her

The son of the former Supreme says in court papers that the man who sought to help his mother after she became incapacitated also took advantage of her financially.

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Start-Up Founder Sentenced to 18 Months in Prison for Fraud

Manish Lachwani, who founded the software start-up HeadSpin, is the latest tech entrepreneur to face time in prison in recent years.

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VW Workers in Tennessee Vote to Join UAW Union

The Volkswagen plant in Chattanooga is set to become the first unionized auto factory in the South not owned by one of Detroit’s Big Three.

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How Ozempic Is Transforming a Small Danish Town

In Kalundborg, population under 17,000, Novo Nordisk is making huge investments to increase production of its popular diabetes and weight-loss drugs, Ozempic and Wegovy.

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Former China central bank official warns against miscategorising ‘virtual economy’

China must emphasise modern services in its push for new productive forces, Sheng Songcheng says, flagging the need for a hi-tech, high-quality service sector.

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VW workers in Tennessee vote to join UAW in historic win for Detroit union

Volkswagen workers in Tennessee have voted in favor of the United Auto Workers — marking the union's first successful organizing drive of a foreign automaker.

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In Trump Trial, Press Coverage of Jurors Draws Partisan Reactions

Journalists covering the trial face a tricky balancing act: inform the public while keeping its participants out of harm’s way.

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Can AI help solve Japan’s labour shortages?

Japan is seeing if artificial intelligence can tackle its increasing shortfall of workers.

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Stock Market Set for Longest Losing Streak in Months

A rally at the start of the year has given way to worries on Wall Street about economics and geopolitics.

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FAA Will Require More Rest for Air Traffic Controllers

The agency announced new rules to address the dangers of exhaustion for controllers, who often work grueling round-the-clock schedules.

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Chinese Export Surge Clouds U.S. Hopes of a Domestic Solar Boom

The decision by a Massachusetts solar company to abandon plans to build a $1.4 billion U.S. factory highlights the risks amid a flood of Chinese clean energy exports.

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How France Is Fighting ‘Shrinkflation’

Merchants will be required to put signs in front of all products that have been reduced in size without a corresponding price cut.

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Lululemon to shutter Washington distribution center, lay off 128 employees after tripling warehouse footprint

Lululemon is shutting down its Washington distribution center and laying off 128 employees after it opened a massive new warehouse outside of Los Angeles.

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Drone startup Zipline hits 1 million deliveries, looks to restaurants as it continues to grow

The company said its zero-emission drones have now flown more than 70 million autonomous commercial miles across four continents.

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Michael Abramowitz Named New Director of Voice of America

Michael Abramowitz, a former Washington Post journalist who is currently the president of the nonprofit Freedom House, is expected to start in the role this summer.

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FAA will require more rest time for air traffic controllers amid fatigue concerns

Staffing shortfalls have led to forced overtime and tightly packed air traffic controller schedules

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China’s Export Dominance: What to Know

From cars to solar panels to furniture, China is using lavish bank lending and enormous investments in robotics to cement its global leadership in manufacturing.

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Procter & Gamble sales disappoint as price hikes slow down

The Tide owner's quarterly volume was flat for the second consecutive quarter.

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With China’s EV sector at top speed, Beijing eyes ‘economical’ hydrogen-power vehicles amid green energy transition

China is the world’s top producer and consumer of electric vehicles, and Beijing is now seeking the lead in hydrogen-powered vehicles.

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Why Germany has little choice but to continue to cosy up to China

The ugly truth is that the power of Germany’s economy is heavily connected to its business relationship with China and, with that, Scholz’s political fortunes

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China’s drought-hit Yunnan braced for ‘worst case scenario’ as key grain, power, aluminium hub faces worst dry spell in 60 years

Rainfall in the southwest province of Yunnan, which is one of China’s leading hydropower producers, fell by 42.3 per cent compared to normal levels this year.

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China penalises US acid imports in retaliatory move as trade relations grow caustic

China has revealed hefty penalties on imports from the US of an acid used as a preservative as trade relations between the two countries appear likely to return to an outwardly acrimonious track.

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Li Auto takes on Tesla’s Model Y by pricing new L6 SUV deliberately lower as cutthroat discounts persist in China

Beijing-based Li Auto has priced the new L6 SUV from 249,800 yuan (US$34,509) onwards, 5 per cent cheaper than Tesla’s popular Model Y.

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China-Middle East commercial ties enjoying a ‘renaissance’ as politics, trade spats strengthen shift from West, consultancy says

Commercial ties between China and the Middle East are enjoying a revival as politics, energy transition and supply-chain upheavals create opportunities for Chinese exporters, according to management consultancy Oliver Wyman.

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China’s middle class a ‘tidal wave’ investors are failing to appreciate: Primavera Capital founder

It is only a matter of time before the currently depressed market stages a rebound, according to Fred Hu of private-equity firm Primavera Capital.

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Why a deluge of Chinese-made drugs is hard to curb

Thousands of Chinese companies are making synthetic opioids and shipping them around the world.

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Netflix forces Wall Street to focus on profit and revenue with decision to stop reporting subscriber numbers in 2025

Netflix will no longer report its quarterly subscriber additions, a sign that the benefits of its password-sharing crackdown may be ending.

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Netflix blows past earnings estimates as subscribers jump 16%

Netflix said its subscribers grew 16% to 269.6 million, but said it would no longer regularly report the metric starting next year.

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Nordstrom family tries again to take department store private, forms special committee

The Nordstrom family is once again considering taking the department store private and has formed a special committee to evaluate bids.

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Mortgage rates are now at the highest level of the year, and could still climb

The average rate on the popular 30-year fixed mortgage sits around 7.5%, the highest level since mid-November of last year, according to Mortgage News Daily.

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Alaska Airlines 2024 forecast tops estimates after loss from Boeing Max grounding

Alaska Airlines said Boeing paid it $162 million so far in compensation for the 737 Max grounding.

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NBA's exclusive TV rights negotiating window with ESPN, Warner expected to pass without a deal

The NBA's exclusive window with incumbent media partners Disney and Warner Bros. Discovery will expire April 22 without a signed deal, according to sources.

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Billionaire Kam Ghaffarian sets his sights on the stars with a range of space companies

Ghaffarian has been instrumental in ushering in the new space economy, with leadership roles at Intuitive Machines, Axiom Space, Quantum Space and X-Energy.

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March homes sales dropped despite a surge in supply. Here's why.

The median price of an existing home sold in March was $393,500, up 4.8% from the year before.

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U.S. tech CEOs give India PM Modi boost ahead of election

India's Narendra Modi has been courting U.S. tech company leaders like Elon Musk and Tim Cook ahead of the country's national elections.

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IMF: China’s bonds, stimulus will buoy world’s No 2 economy despite property crisis

Asia official with Washington-based agency points to the PBOC’s policy moves, as well as China’s infrastructure spending, as economic bellwethers in the face of headwinds.

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China steels itself for new front in trade war after US proposes tariffs on metals

The US’ proposed tripling of tariffs on Chinese steel imports would be the first move in a tit-for-tat struggle that would expand the bilateral trade war, analysts said – and fuel grumblings over industrial overcapacity.

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Canton Fair: Chinese Premier Li Qiang solicits views from ‘ambassadors of friendship’ as external tensions grow

Premier Li Qiang told overseas buyers at the Canton Fair that China’s development will inject more stability into the world economy and global trade as it seeks to shore up confidence and retain and entice investors.

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China unloads more US Treasury bills as odds of Fed rate cuts grow slim

China has continued to sell its holdings in US debt as the likelihood of expected interest rate cuts grows more remote and Beijing looks to widen the diversity of its foreign asset pool.

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'AI helps me to make wine for younger drinkers'

The winemakers using artificial intelligence to help them grow grapes and blend their wines.

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China preps for tourism boom on May Day holiday as early bookings rocket past pre-pandemic levels

China’s coming May Day holiday already has the makings of a major tourism rush, with early bookings exceeding pre-pandemic levels and the travel boom likely to fuel a much-desired round of consumption.

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How sustainability is driving China’s next economic transformation

Despite some progress, the Chinese economy still faces problems but these can be overcome with targeted stimulus measures and a focus on sustainable development. By framing China as a threat, the US risks impeding global sustainability efforts.

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China’s economy seeing ‘seismic shifts’ and imbalances like nothing Beijing predicted, senior economist says

Prominent government adviser Liu Yuanchun says the immediate future will be marked by disequilibrium, and more non-economic risks are emerging than economic ones, after first-quarter GDP growth impresses.

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Dongfeng, Chery lead Chinese carmakers in eying Europe factories amid brutal price war at home

Carmakers like Dongfeng, Chery and BYD are eyeing production sites in Europe to assemble the next generation of electric vehicles as a foil against the EU’s protectionist tariffs as a brutal price war at home drives more producers offshore in search of fresh markets.

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China rallies aviation brainpower to get widebody C929 off the ground, amp up Airbus and Boeing competition

China’s state-owned aircraft manufacturer held a conference ahead of a week-long seminar to seek progress with its C929 passenger jet, which is due to rival the Airbus A350 and Boeing 787 models for long-haul routes.

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Million-dollar jobs, travel perks and racy parties vanish as China’s research pullback sends chills through banks and brokers

The cutbacks, described by people familiar with the matter, come as a prolonged market slump reduces trading commissions and authorities tighten limits around what research analysts are allowed to publish.

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China plays up Alibaba, Shein’s role in promoting cross-border e-commerce at ‘digital silk road’ forum, as exports rise

At the Digital Silk Road Development Forum in Xian, Alibaba and Shein were praised for helping advance the country’s booming cross-border e-commerce sector.

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Workers take on car giant Volkswagen in fight for pay

VW workers in the south vote on whether to join a union - a test of how far worker activism has spread.

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China GDP: first-quarter growth ‘smashes’ expectations, but has Beijing put too many eggs in its basket?

China’s widely watched gross domestic product (GDP) figure beat expectations in the first three months of the year, but retail sales growth dropped in March and property investment fell by 9.5 per cent in the first quarter.

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Canton Fair: China’s new energy exporters abuzz as orders swell, threat of trade curbs looms

Buyers and exhibitors of new energy equipment at the Canton Fair are showing boundless optimism as orders rise, but measures likely to be taken against the industry by the US and EU could spoil the fun.

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China’s GDP growth beat expectations – so why are analysts and business groups still downbeat?

While first-quarter GDP data shows China is on course to meet its full-year economic growth target, policymakers are still being called on to bolster demand and introduce stronger policy support.

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IMF keeps China’s 2024 GDP growth estimate unchanged on ‘troubled property sector’

After the release of China’s first-quarter GDP growth, International Monetary Fund says the lack of a ‘comprehensive response’ could lead to less economic growth than Beijing is hoping for this year.

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Fitch cuts outlook for China’s state-owned banks from stable to negative citing Beijing’s limited capacity to support them

The move by Fitch Ratings comes a week after it cut its projection for the country’s sovereign credit rating, reflecting pessimism in the world’s second largest economy and concerns over Beijing’s capacity to support its biggest lenders.

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China GDP: 5.3% first-quarter rise better than expected as recovery regains momentum

China’s widely watched gross domestic product (GDP) figure beat expectations in the first quarter after rising by 5.3 per cent year on year despite ongoing challenges.

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China’s energy trade with Middle East set to surge since Beijing brokered last year’s Iran-Saudi deal, UBS says

Energy-related trade between China and the Middle East is likely to increase significantly and reshape the sector globally in the wake of the Saudi-Iran peace deal brokered by China last year, according to Swiss bank UBS.

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From consumption to tourism, China’s middle class holds the key to revving up economic engine, but can they turn it?

Ahead of China’s quarterly GDP release, survey figures reflect how difficult times have been for half a billion Chinese people, and where their priorities now lie.

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China’s new South China Sea oil rig helps it drill deep for energy security

New deep-sea mobile operation can reportedly drill to a depth of 9,085 metres, a record for China as Beijing looks to rely less on imported oil and gas amid rising geopolitical uncertainties.

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In China, Germany’s Olaf Scholz calls for ‘open and fair’ competition as differences weigh on trade

Scholz’s trip comes as the European Union is undertaking an anti-subsidy investigation into Chinese electric vehicles (EVs), and as criticism grows in the United States about Chinese overcapacity.

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China’s Fosun International sells stake in Belgian insurer Ageas to BNP Paribas to reduce debt, focus on core businesses

More divestments to come, analyst says, as conglomerate aims to cut debts by US$1.38 billion annually in the next two to three years.

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China’s ‘critical’ property sector must ensure timely delivery of homes, says Vice-Premier He Lifeng

Vice-Premier He Lifeng completed a two-day inspection tour of Zhengzhou, Henan province, over the weekend with a focus on China’s troubled real estate market.

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Shanghai is the sole commodities bourse to stay open to Russian aluminium, copper and nickel as sanctions drive Moscow towards China

Energy market sanctions imposed on Moscow have already had a dramatic impact on China’s buying habits, helping Russia surpass Saudi Arabia to become the largest oil supplier to Beijing last year.

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Hong Kong gearing up to become a hub for ILS such as catastrophe bonds, Insurance Authority says

Hong Kong is building an arsenal to assist the world with raising funds for managing losses from natural disasters, the Insurance Authority said. It is discovering more issuers, investors and data, as well as cultivating its modelling capabilities and talent.

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As supply chains shift away from China, others get their own economic miracles

As global supply chains are reshaped, countries such as Vietnam and Mexico are becoming attractive manufacturing hubs. Chinese-backed factories in the US might face resistance, but the job growth and knowledge transfer they bring will benefit the American economy.

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Drone delivery service launches in China’s Greater Bay Area, slashing transport time and costs between cities

Flight between Zhongshan and megacity of Shenzhen takes around 45 minutes and costs 40 yuan (US$5.60) per order, according to UAV-maker Phoenix Wings, which is backed by Chinese logistics giant SF Express.

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China’s gold markets under strain as horde of new buyers hunts for stable investment

Gold markets in China have been inundated with a throng of new buyers, looking to put their money into a commodity which has skyrocketed in value as other investments have lost their lustre.

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