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Moderna loses less than expected as Covid vaccine sales beat estimates, cost cuts take hold

The company reiterated its full-year 2024 sales guidance of roughly $4 billion, which includes revenue from the expected launch of its RSV vaccine.

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Wayfair's losses narrow by more than $100 million after layoffs, even as sales dip

Wayfair's sales fell in the first quarter, but the furniture retailer narrowed its losses by over $100 million after cutting 13% of its staff.

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Long-predicted consumer pullback finally hits restaurants like Starbucks, KFC and McDonald's

Starbucks, Pizza Hut and KFC are among the chains that reported same-store sales declines this quarter.

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Google Antitrust Trial Concludes With Closing Arguments

The first tech monopoly trial of the modern internet era is concluding. The judge’s ruling is likely to set a precedent for other attempts to rein in the tech giants that hold sway over information, social interaction and commerce.

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China property: new stimulus is on the way as Politburo pledges to cut housing inventory, say analysts

A new wave of property stimulus measures is brewing that should fuel a recovery in market sentiment across China as the country’s top decision-makers pledged to tackle housing inventories, according to analysts.

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TikTok and Universal settle music royalties dispute

The deal means songs from artists including Ariana Grande and Drake can be used on the platform again.

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Carvana shares spike 30% as used car retailer posts record first quarter

Carvana reported record first-quarter results Wednesday that beat Wall Street's top- and bottom-line earnings expectations for the online used car retailer.

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China’s C919 passes ‘deep level’ post-flight safety tests, ramps up rivalry with embattled Boeing

A crew of more than 60 checked a China Eastern Airlines C919 during four days of tests in Shanghai.

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UK forecast for slowest growth of richest nations next year

The UK economy will remain “sluggish” due to the impact of interest rate rises, the OECD says.

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Horse Racing Deaths Raise Questions About Sport’s Future

The breakdown of 12 horses in the days surrounding the celebrated race a year ago has led to existential questions about the sport and its future.

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The Judge Deciding Google’s Landmark Antitrust Case

Amit P. Mehta, a judge in U.S. District Court for the District of Columbia, will issue a landmark antitrust ruling.

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Navigating the Fine Line Between Art and Luxury

The boundaries between art, fashion and luxury seem to be melting away. That’s great for brands, but what about artists — and the art?

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Uber faces £250m London black cab drivers case

The case against the US-based ride-hailing giant is being brought on behalf of over 10,800 drivers.

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To call the likes of China and India ‘developing’ is, frankly, insulting

Given the prosperity and world-leading innovations of so-called emerging economies, from China and India to South Korea and Qatar, the ‘developing’ label is outmoded, outdated and patronising.

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Bulgarian Distrust of Russia Simmers Over a Black Sea Oil Terminal

Russia has been losing its grip on the Rosenets Oil Terminal, near the port city of Burgas, as Bulgarian authorities seek to assert greater control over the Russian-run facility.

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US warns rates to stay high as it battles inflation

The US central bank has left interest rates unchanged again, noting a "lack of further progress" on inflation.

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Building gigafactory 'going to be a wild ride'

The CEO of what will be the UK's biggest electric car battery plant says he's 'up for the challenge'.

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Johnson & Johnson Proposes $6.5 Billion in New Talc Settlement Offer

The offer is the company’s third attempt to resolve tens of thousands of claims that its baby powder caused ovarian cancer and mesothelioma.

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Hong Kong stocks enter bull market: banks, insurers gain after Fed rate decision as China’s policy support adds to cheer

Banking and insurance stocks boosted the Hang Seng Index close to bull market territory with the overall sentiment remaining upbeat following Beijing’s recent efforts to prop up stocks.

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As China seeks new economic growth, is it time to unleash the power of the ‘she-conomy’?

A growing ‘she-conomy’ in China is leading to the working-age female population playing a leading role in personal spending and family purchases amid Beijing’s shift away from an investment-led growth model.

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He Won by a Landslide. Why Is He Fighting for His Political Life?

Ben Houchen, a regional mayor in the north of England, faces a close re-election race, partly thanks to the broader troubles of Britain’s Conservative Party.

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Walnuts Recalled From Whole Foods After E. Coli Outbreak

The outbreak linked to shelled organic walnuts distributed by Gibson Farms has sickened 12 people and hospitalized seven in California and Washington State, federal officials said.

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Pasteurized Dairy Foods Free of Live Bird Flu, Federal Tests Confirm

But the scope of the outbreak among cattle remains uncertain, and little human testing has been done.

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The insect farmers turning to AI to help lower costs

Makers of insect-based animal feed hope to be able to compete with soybeans on price.

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Republicans Call on NPR’s Chief, Katherine Maher, to Testify on Bias

Katherine Maher, the radio network’s new chief executive, has been in the spotlight since an editor published an essay accusing the organization of leftward-leaning bias.

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Fed Holds Rates Steady, Noting Lack of Progress on Inflation

The Federal Reserve left interest rates unchanged for a sixth straight meeting and suggested that rates would stay high for longer.

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In Latest Stunt, Airbnb Lists the ‘Up’ House. It Floats.

The company announced a new category of outlandish stays in partnership with brands and celebrities, building on the success of gimmicks like the Barbie Malibu DreamHouse.

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Klobuchar Asks Regulators to Investigate MultiPlan Over Health Care Pricing

A data analytics firm has helped big health insurers cut payments to doctors, raising concerns about possible price fixing.

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US concern about China’s overcapacity is a non-issue, just like in 2009

The narrative around Chinese overcapacity sounds similar to that during the global financial crisis when, as a result of its massive stimulus package, China became the world’s largest exporter amid weak demand. Today, China’s green capacity should be viewed within the broader framework of climate change cooperation.

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Giant Pandas Are Returning to San Diego, China Announces

“Panda diplomacy” has represented an area of cooperation between the United States and China despite tension over weighty issues of trade and national security.

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Viking shares rise 8% after cruise line operator's market debut

The company's initial public offering coincides with a strong rebound in cruise bookings.

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J&J hopes for deal with third talc settlement

The firm has set aside about $11bn to address claims its talc products caused cancer.

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Johnson & Johnson to pay $6.5 billion to resolve nearly all talc ovarian cancer lawsuits in U.S.

The deal would allow J&J to resolve the lawsuits through a third bankruptcy filing of a subsidiary company, LTL Management. 

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CVS shares plummet as health company slashes profit outlook on higher medical costs

CVS and other insurers have seen medical costs spike as many Medicare Advantage patients return to hospitals to undergo procedures they delayed during Covid.

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Pfizer beats earnings estimates, raises outlook on cost cuts and smaller-than-feared drop in Covid drug sales

The pharmaceutical giant's quarterly results also benefited from a smaller-than-feared drop in sales for its Covid antiviral pill Paxlovid.

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NASCAR and Its Race Teams Fight Over the Sport’s Future

Team owners said they needed to share in racing’s financial success, putting them at odds with the privately held business that runs the sport.

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UnitedHealth’s CEO Slammed Over Cyberattack

Several lawmakers questioned whether the company had become so large — with tentacles in every aspect of the nation’s medical care — that the effects of the hack were outsize.

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What Fed Rate Moves Mean for Mortgages, Credit Cards and Student Loans

Higher rates benefit those who can save, but for borrowers falling rates would reduce bills on credit cards, home equity loans and other forms of debt.

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The Fed Tries to Steer Clear of Politics, but an Election Year Is Making It Tough

Economists are wondering whether political developments could play into both the Fed’s near-term decisions and its long-term independence.

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Bally Sports regional networks go dark for Comcast cable customers

Carriage negotiations between Comcast and Diamond Sports broke down, leaving cable customers without access to Bally Sports regional networks during MLB season.

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Federal Money Is All Over Milwaukee. Biden Hopes Voters Will Notice.

White House officials have barnstormed Wisconsin to make the connection between big changes and their signature laws.

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Family offices are looking beyond the stock market for higher returns, new report finds

Unlike stocks, alternatives such as private equity and private companies have more gradual valuation changes, smoothing out volatility.

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Truth Social Co-Founder Says Trump Nearly Derailed Deal That Led to Market Windfall

Andy Litinsky, who helped start the former president’s social media company, revealed Mr. Trump’s last-minute doubts about an agreement that made them all very wealthy.

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U.S. Imposes Sanctions on Chinese Companies for Aiding Russia’s War Effort

The penalties came after top Biden administration officials warned China not to help Moscow restock its arsenal to attack Ukraine.

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Apple working to fix alarming iPhone issue

Users have been reporting unexpected lie-ins after the alarms on their phones failed to go off.

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Zwirner Anchors Los Angeles Art Neighborhood With New Gallery

Its flagship will open with a 30th-anniversary exhibition featuring works by all of the gallery’s 80 artists.

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NYCB shares jump 30% after CEO gives two-year plan for 'clear path to profitability'

CEO Joseph Otting took over NYCB in April after an investor group led by former Treasury Secretary Steven Mnuchin injected more than $1 billion into the lender.

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Job Openings and Hiring Are at a 3-Year Ebb

March data showed a cooling labor market, but layoffs remain low. The overall trend is likely to be welcomed by Federal Reserve policymakers.

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Black Entrepreneurs, Frustrated by High Rates, Look to the Election

In the battleground state of Georgia, some Black entrepreneurs are frustrated over the impact of higher interest rates, a source of economic anxiety.

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Belarus firm accused of bypassing UK sanctions

MP claims a garage door parts company is getting round import bans imposed after Russia's invasion of Ukraine.

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Starbucks shares sink 12% as coffee chain slashes 2024 forecast amid same-store sales drag

Across all regions, Starbucks reported shrinking same-store sales and falling traffic.

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Biden Cancels $6.1 Billion in Debt for Former Art Institute Students

The announcement covers 317,000 former students and marks another step in the administration’s student loan relief efforts.

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Yum Brands earnings miss estimates as Pizza Hut, KFC sales disappoint

KFC and Pizza Hut reported same-store sales declines, while Taco Bell's same-store sales rose just 1%.

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China halves rice-growing cycle in deserts of Xinjiang, opening new front in food security drive

Scientists have successfully grown rice in the harsh deserts of China’s Xinjiang region in half the time compared to conventional farming methods, a major step in the country’s campaign to ensure food security.

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Tesla staff say entire Supercharger team fired

The division responsible for the car-maker's huge fast-charging network is being axed to cut costs.

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Ex-Camelot boss named as new Post Office chairman

Nigel Railton is confirmed as interim chairman of the Post Office after Henry Staunton's sacking.

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The Marijuana Industry Hopes for New Highs

The Justice Department’s recommendation that restrictions on marijuana be lifted have revived expectations for a business that has waited years for such a change.

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To train car dealers on EVs and other topics, Ford turns to gamification and AI-powered education

Dealership employees, who are employed outside Ford by dealers, are crucial for the company's sales, performance and customer engagement and satisfaction.

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Glamping Beneath the Stars in Utah

Would cloudy weather ruin a visit to the first-ever resort to receive certification from DarkSky International? A stargazer in Utah holds on to her optimism.

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House prices fall as lenders raise mortgage rates

The Nationwide says the average cost of a home was down 4% on the peak seen in the summer of 2022.

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Beijing tightens grip on China social media giants

Changes to China's State Secrets Law requires internet firms to monitor information shared by users.

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Europe’s Economic Laggards Have Become Its Leaders

More than a decade after painful austerity, Greece, Portugal and Spain have been growing faster than traditional powerhouses like Germany.

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China’s Electric Cars Keep Improving, a Worry for Rivals Elsewhere

More capable autonomous driving is just one way Chinese automakers are threatening to pull ahead — their E.V.s are also becoming bigger and roomier.

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PG&E Seeks Approval to Sell Stake in Its Power Operations

California’s largest utility said its proposed deal with the global investment firm KKR could reduce customer rates by $100 million over 20 years.

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Chinese women are teaming up with strangers to save money

They are finding new ways to cut back on household spending as China’s economy loses steam.

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Tesla Fires Charger Team Amid Hundreds of Layoffs

The carmaker dismissed 500 employees in a unit that was critical to its success and seen as important to the future of electric vehicle sales in the United States.

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China’s job-hungry youth offered lifeline by South Korean university with its ‘exemplary employment-linked model’

A South Korean university is launching a new associate degree programme exclusively for international students as it battles labour and population issues, with some also faced by China.

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India's economy: The good, bad and ugly in six charts

India has one of the world's fastest growing economies but the benefits are yet to fully reach the poorest.

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Same-Store Sales at Starbucks Drop, Pushing Revenue Down 1.8%

After the chain’s quarterly earnings missed Wall Street’s estimates, its shares fell more than 12 percent in after-hours trading.

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Tatti Lashes: The school friends who built a beauty empire

Charlotte Tiplady and Elliot Barton explain how together they built up their Tatti Lashes beauty empire from Liverpool.

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Tens of millions secretly use WhatsApp despite bans

Will Cathcart reveals how many people are secretly using his app in countries where it is banned.

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Amazon Prime ads help tech giant drive profits

The tech giant did better than expected in many areas of its business.

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China has yet to join the ‘rich country’ club. Has the middle-income trap been sprung?

Predictions China would have already joined the group of high-income nations have yet to bear fruit. Is it still possible to break through the middle-income ceiling – and is it still an important benchmark?

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Binance Founder Sentenced to 4 Months in Prison

Changpeng Zhao, the founder and former chief executive of the Binance cryptocurrency exchange, had pleaded guilty to a money-laundering violation.

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8 Daily Newspapers Sue OpenAI and Microsoft Over A.I.

The suit, which accuses the tech companies of copyright infringement, adds to the fight over the online data used to power artificial intelligence.

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NBC Sports could buy back rights to iconic theme song 'Roundball Rock' if it airs NBA games again, composer John Tesh says

NBC Sports can license the rights to John Tesh's famous "Roundball Rock" theme song if it secures a new NBA media package, Tesh said in an e-mail.

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FTC challenges 'junk' patents held by 10 drugmakers, including for Novo Nordisk's Ozempic

The agency sent letters to Novo Nordisk, AstraZeneca, Boehringer Ingelheim, Covis Pharma, GlaxoSmithKline, Novartis, Teva Pharmaceuticals, among others.

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Even as He Faces Prison Time, Binance’s Founder Plans a Comeback

Since pleading guilty to violating money-laundering rules, Changpeng Zhao, who ran the giant crypto exchange Binance, has networked across the United States to set up his next act.

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Biden Tax Increases Won’t Hit Middle Class, Yellen Says

Republicans pressed the Treasury secretary on President Biden’s tax proposals and the fate of the Trump tax cuts that will expire in 2025.

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Binance crypto boss sentenced to 4 months in prison

Changpeng Zhao, head of world's largest crypto platform, pleaded guilty to breaking US money laundering laws.

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McDonald’s earnings miss estimates as diners pull back, Middle East boycotts hit sales

McDonald's shares have fallen 7.5% over the last year, dragging its market value down to $197 billion.

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A Strong U.S. Dollar Weighs on the World

Two-thirds of the roughly 150 currencies have weakened against the dollar, whose strength stems from high interest rates because of stubborn inflation.

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Walmart Is Shutting Health Centers After Plan to Expand

The 51 locations, next to Supercenters, proved too costly to be profitable, the retailer said.

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Jeff Zucker Abandons Telegraph Bid, Putting London Paper Back Into Play

RedBird IMI said it had withdrawn its attempt to acquire the storied newspaper after a revolt from Conservative Party leaders.

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Meta Faces EU Investigation Over Election Disinformation

The inquiry is intended to pressure the tech giant to more aggressively police Facebook and Instagram ahead of the European Union’s closely watched elections in June.

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Getir, a Rapid Grocery-Delivery Service, Exits the U.S. and Europe

The company had expanded quickly to keep ahead of rivals, but like other pandemic darlings, its business lost steam after lockdowns were eased.

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How Locals Saved ‘the Yosemite of South America’

A decade-long battle between a wealthy industrialist and a band of activists led to a surprising $63 million transaction.

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Dave & Buster's to allow customers to bet on arcade games

One of the largest entertainment operators in the country, Dave & Buster's, will allow its loyalty customers to compete against one another on its app.

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Postmasters tried 'to get away with' blaming IT - expert

Post Office inquiry sees an internal email from 2010 sent by an expert on the ill-fated Horizon system

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Walmart launches new grocery brand, as it tries to hang on to inflation-fueled growth

The nation's largest grocer sees room to build on its inflation-fueled grocery gains.

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In Reversal, Expert Panel Recommends Breast Cancer Screening at 40

Some researchers said the advice did not go far enough. The panel also declined to recommend extra scans for women with dense breast tissue.

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Telegraph up for sale after takeover collapses

The ownership of the Daily and Sunday Telegraph was set to be transferred to a Abu Dhabi-backed bid.

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High Fed Rates Are Not Crushing Growth. Wealthier People Help Explain Why.

High rates usually pull down asset prices and hurt the housing market. Those channels are muted now, possibly making policy slower to work.

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Eli Lilly beats on quarterly profit, hikes full-year guidance on strong sales of Zepbound, Mounjaro

Zepbound reported $517.4 million in sales for the quarter, even as most doses of the drug slipped into shortages in the U.S.

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Walmart to shutter health centers, virtual care service in latest failed push into health care

Walmart said clinics are not a sustainable business model due to a challenging reimbursement environment for primary care and increasing operating costs.

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Home prices soar even higher in February, despite higher mortgage rates, says S&P Case-Shiller

It marked another increase after the prior month's annual gain of 6%, and the fastest rate of price growth since November 2022.

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Coca-Cola tops earnings estimates, hikes revenue outlook on higher prices

Shares of Coke have fallen 3.5% over the last year, dragging the company's market value down to $267 billion.

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China’s exports to Mexico are getting heavier tariffs – is it a sign of more to come?

With new tariffs being imposed by Mexico on most Chinese imports, observers and analysts disagree on whether stricter measures are being considered – but most say pressure from the US is at play.

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Walmart Introduces a New Store Brand for ‘Quality Food’

The Better Goods store brand will carry plant-based, gluten-free and higher-end food and could help the retailer attract more affluent shoppers.

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Premier Inn owner Whitbread to cut 1,500 jobs

The company plans to sell or close more than 200 restaurants and expand its hotel business.

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Paramount Faces a Mountain of Questions

Bob Bakish, the media giant’s chief executive, is out, removing an obstacle to a deal with David Ellison's Skydance. But the company’s future is no clearer as a key deadline approaches.

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Burger King invests another $300 million to remodel restaurants

The restaurant company is planning to spend $2.2 billion to revive Burger King's U.S. business.

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China, South Korea vie for advanced shipbuilding orders as battle of the supertankers heats up

QatarEnergy will pay China State Shipbuilding Corporation billions of US dollars for 18 tankers in a deal hailed as the industry’s biggest shipbuilding contract ever.

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Sustainability Activists Take Aim at Disposable Hotel Slippers

Slippers supplied by hotels — flimsy models usually made of plastic and fabric — are the next single-use item in the cross hairs of sustainability activists.

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How China’s third plenums have reshaped its economy – and what to expect this year

China’s Communist Party will hold one of its most-watched meetings in July, as analysts predict the political body will lay out reforms to aid in the country’s economic recovery.

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Outlook ‘significantly brighter’ for Hong Kong stocks, as US$5 trillion market attracts global investors rotating out of US, Japanese shares

Hong Kong stocks emerged as the best-performing key market globally in April, after funds sought bargains by shifting out of expensive US and Japanese equities and as China’s growth shows more signs of stabilising.

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Honeybees Don’t Need Saving, I Learned When They Invaded My House

Responding to fears of a “honeybee collapse,” 30 states have passed laws to protect the pollinators. But when they invaded my house, I learned that the honeybees didn’t need saving.

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Hydrogen Offers Germany a Chance to Take a Lead in Green Energy

A subsidiary of ThyssenKrupp, Germany’s venerable steel producer, is landing major deals for a device that makes the clean-burning gas from water.

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China’s private pension push marred by weak financial literacy, as ‘people still have no idea’

After a stretch of trials in select Chinese cities, there is rising urgency to rapidly expand use of the underperforming retirement accounts as demographic challenges mount.

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All New U.S. Cars Must Carry Automatic Brakes by 2029

The technology is already sold on most vehicles, but a new federal safety regulation raises the standards.

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Bob Bakish, Paramount CEO, Steps Down as Company Weighs Merger

Bob Bakish was once a staunch ally of Shari Redstone, Paramount’s controlling shareholder. His departure comes as the company considers a major merger.

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China’s factory activity grows at slower pace in April as order, price pressure undercuts economic recovery

China’s official manufacturing purchasing managers’ index (PMI) remained in expansion territory for a second consecutive month in April, although the pace slowed as officials admitted that manufacturers are facing higher costs.

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Judge rejects J&J, Bristol Myers Squibb challenges to Medicare drug-price negotiations

The decision is another win for the Biden administration in a bitter legal fight with several drugmakers over the constitutionality of the price talks.

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Migrants hit by high fees to send money home

Sending money across borders, particularly in Africa, can still be expensive.

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Chery’s Jetour unit plans right-hand drive cars to expand to Malaysia and Indonesia as competition escalates in China’s automotive market

Jetour targets markets like Malaysia and Indonesia with right-hand drive models as globalisation drive accelerates.

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Elon Musk Reaches Deals in China on Self-Driving Teslas

Elon Musk met with the country’s premier, a longtime Tesla ally, and secured regulatory nods and a necessary partnership with a Chinese tech company.

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Paramount says CEO Bob Bakish is stepping down, will be replaced by a trio of executives

Paramount Global CEO Bob Bakish is out, the company announced Monday, as merger negotiations with Skydance Media continue.

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Skydance extends final offer to Paramount as merger talks stick on a possible shareholder vote

A potential dealbreaker is whether to hold a so-called "majority of the minority" vote on the deal, which would grant common shareholders potentially sway.

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Peacock streaming subscription prices to increase by $2 ahead of the Summer Olympics

Comcast's streaming service Peacock will see a price increase of $2 this summer.

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Skydance Offers Paramount a Merger Sweetener: A $3 Billion Cash Infusion

The terms of the new deal would provide Paramount shareholders with an investment to pay down debt and buy back stock.

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Inflation Is Stubborn. Is the Federal Budget Deficit Making It Worse?

Economists are divided over whether the growing amount of federal borrowing is fueling demand and driving up prices.

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Taylor Swift Debuts at No. 1 on Billboard 200 With ‘Tortured Poets Department’

Only the Beatles have more No. 1 LPs now: The pop superstar reigns atop the Billboard 200 for the 14th time with the equivalent of 2.6 million album sales.

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CPAP Lawsuits Settled for $1.1 Billion

Thousands of people with sleep apnea and other illnesses had sued the company, claiming flawed devices were harming them.

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China should bail on US bonds even faster, scholar says, as bilateral tensions and anxieties mount

A highly placed scholar is encouraging China to offload more of its holdings in Treasuries as overseas assets become a riskier proposition thanks to erratic geopolitical shifts.

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Pittsburgh Pirates, Penguins launch streaming service for local games

The regional sports network that airs Pirates and Penguins game is launching a streaming service priced at $17.99 a month.

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BYD’s first-quarter profit, deliveries slump as world’s largest EV maker reels from a bruising price war in China

The Warren Buffett-backed carmaker posted first-quarter net profit of 4.57 billion yuan (US$631 million), 47.3 per cent lower than the quarter ended December 2023.

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C919 mega-purchase by China’s flagship airline lifts home-grown jet in competition with Boeing

New deal adds years of additional business for China’s state-owned manufacturer and may boost investments while further fuelling purchases of the narrowbody plane.

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Why Beijing Stands to Gain from Elon Musk’s Visit

Tesla’s C.E.O. appears to have landed a deal that moves the company closer to bringing fully autonomous driving to a giant market. But Beijing is keen to exploit the visit for its own purposes.

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China’s consumers seek security in ‘the only safe asset’ as gold purchases remain strong

Gold purchases in China rose by 5.9 per cent in the first quarter compared with the same period in 2023, as consumers seek security in ‘the only safe asset’, analysts said.

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Stowaway Cat Gets 500 Miles from Home in Amazon Returns Box

Galena, a 6-year-old shorthair, was found in an Amazon warehouse a week after she climbed into a 3-by-3-foot cardboard box at her owner’s home.

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State Street says Asia-Pacific institutional investors keen on private assets even as inflation, elevated borrowing costs subdue appetite

High inflation and elevated borrowing costs are dampening the attractiveness of leveraged private-market investments, but institutional investors across Asia-Pacific are still determined to increase their allocations in private assets, State Street says.

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Swarovski moves up from crystals to lab-grown diamonds as CEO Alexis Nasard plays ‘the long game’ to get over China’s consumption slowdown

Austrian crystal maker Swarovski has launched a lab-grown diamonds collection in China, in a sign that it has confidence in its second-largest market by sales despite some economic turbulence.

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China is still a developing country despite what US leaders might say

In recent years, American politicians have been seeking to challenge China’s status as a developing country Despite building a “moderately prosperous society”, the Chinese economy is still not considered high-income, and parts of the country still face unbalanced development.

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Overcapacity or ‘over anxiety’? China hits back at Western claims of dumping

State news agency rejects allegations that Chinese EV firms are exporting a glut of electric vehicles.

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Chengdu becomes latest major Chinese city to unveil housing market support measures, scraps home purchase qualifications

The measures effective from Monday range from the removal of restrictions on homebuyers to support for the funding needs of developers.

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China jobs: anxious young jobseekers ‘stuck in a rat race’, forced to ‘lie flat’ as unemployment remains a headache for Beijing

Creating enough jobs for its young people remains a daunting challenge for Beijing, with the key private sector struggling to shake off scars of the coronavirus pandemic.

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Someday soon China might dominate the hydrogen supply chain too

EU and US manufacturers already complaining of Chinese competition in solar power and electric vehicles won’t like China’s hydrogen policy. As it moves to produce hydrogen using renewable energy, this could become an important part of the world’s low-carbon future.

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Premier Li Qiang meets Elon Musk in Beijing, raising hopes of Tesla’s autonomous driving push

Billionaire Elon Musk flew into Beijing on Sunday, meeting Premier Li Qiang and hoping to bring Tesla’s autonomous driving technology to China amid intensified competition with local electric vehicle makers.

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China EV price war to worsen as market share takes priority over profit, hastening demise of smaller players

China’s automotive sector braces for an escalating price war, and the intensified scramble for market share could hasten the closure of unprofitable laggards.

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China’s drive for tech progress stifled by ‘title-driven’ research approach

China is demanding more and better research to unearth the technology of tomorrow – but a research culture based around titles and participation in certain programmes is limiting the potential of its scientists.

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China’s international flights set to take off, buoyed by May Day holiday, but US travel suffering delays

Air China will start to add international flights from Sunday, while bookings ahead of May Day holiday have surged, but flights to US are having a sluggish recovery.

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American Airlines cuts some international flights into 2025, citing Boeing delivery delays

American is the latest carrier to tweak its growth plan, citing late-arriving planes from Boeing.

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Like the US and EU, China uses subsidies. It just does it more effectively

China’s subsidies have been more effective than in most parts of the world because they are an intrinsic part of a distinct economic model. Rather than targeting China, the US and Europe should examine the effectiveness of their own economic strategies.

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China’s exporters shun the yuan, embrace alternatives as depreciation fears build

China’s yuan has lost more value against the US dollar as interest rate cuts have yet to materialise, leading exporters to find whatever alternative assets they can until exchange differentials subside.

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China eyes food security boost from gene-cloned Asian soybean rust ‘breakthrough’, could save US$2 billion per year

Team led by a group of Chinese researchers cloned a specific gene that is resistant to Asian soybean rust amid Beijing’s focus on food security and tech self-reliance.

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China strikes oil with new high-yield rapeseed, making strides in food security

A new type of rapeseed engineered in China can improve upon yields by 50 per cent, increasing the domestic harvest of edible oil and lessening the country’s reliance on imports.

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Why green steam is a hot issue for business

Steam is still needed in many industries, but much of it is still made with fossil fuels.

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China’s beefed up statistics and accounting laws under review, robust fines to increase cost of fraud

China is reviewing amendments to laws governing statistics and accounting, with Beijing eager to clamp down on inflated or manipulated economic statistics and uphold rules in the world’s second-largest financial market.

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Why China’s reform of state-owned enterprises matters more than ever

China’s campaign to improve the financial performance of listed SOEs comes as Japan’s stock market is benefiting from corporate governance reforms. However, China is not Japan. Beijing is battling a structural downturn, and corporate governance reforms alone are not going to turn sentiment around.

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China preps for clampdown on financial crimes with new version of anti-money-laundering law

China is readying a revision of its law on money laundering, signalling a hardening of penalties for financial crimes and a desire to keep practices in line with international standards.

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Climate disclosures: China’s ESG rules for listed firms could spur private firms to set net-zero targets, analysts say

‘Private firms are obviously looking at the torch that is potentially coming for themselves,’ when it comes to declaring emissions goals, says Net Zero Tracker project leader

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China’s food security push catches ‘grain-stealing mouse’ among 5 accused of US$3.45 million corn theft

Police in northern China have detained five people for allegedly colluding to steal about 10,000 tonnes of corn amid Beijing’s increasing focus on food security.

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Chinese, US corporate leaders propose to defuse trade tension on supply chain, new-energy vehicles at Apec’s business lobby

The plan would next be submitted to the relevant ministries in each of the 21 member economies of Apec before appearing on the agenda of the Apec Leaders’ summit in Lima in the week of November 10.

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China’s central bank drops hints at future bond trades, answering calls for muscular monetary action

The People’s Bank of China has indicated its approval for trading treasury bonds on the secondary market, signalling more robust action to boost liquidity and fuel growth is no longer out of the question.

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US overtakes mainland China as Taiwan’s main export market, sign of ‘strategic shift’ amid tech decoupling

Taiwan’s exports to the US in the first quarter beat shipments sent to mainland China, with analysts pointing to a ‘strategic plan’ by Washington to construct and lead a world supply chain and market order.

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US sanction threats against Chinese banks over Russia trade ties risk ‘gargantuan’ financial instability

Reports suggest US has discussed sanctions on some Chinese banks over their trade with Russia, but analysts say moves to remove China from the Swift interbank financial system could create a ‘huge problem’ for global trade.

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Goldman Sachs says escalating price war in China’s EV market could ensnare BYD, push sector into losses

Further discounts offered by carmakers in a price war in mainland China’s electric vehicle market could ensnare even the likes of top seller BYD, Goldman Sachs says.

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Western protectionism will fail – China’s success isn’t down to subsidies

Complaints of Chinese overcapacity and dumping may be useful in justifying US, EU subsidies and trade barriers but China’s success is really due to its innovation and scale.

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Meaty economic indicator? China’s distressed pig farmers eye turnaround

Chinese farmers are keeping the fewest pigs for breeding since 2020, raising hopes of sustained profitability after years of losses. But the turnaround may not speak to the broader economy, analysts say.

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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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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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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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How robots are taking over warehouse work

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

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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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