Business

Battered by pandemic, Boeing cutting 30,000 jobs in two years

  By John Biers Agence France-Presse NEW YORK (AFP) — Pressured by a prolonged commercial travel downturn and the hit from 737 MAX crisis, Boeing on Wednesday announced an additional 7,000 job cuts that will lower headcount by 30,000 positions …

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Goldman Sachs agrees to largest penalty ever in 1MDB scandal

  NEW YORK (AFP) — Global financial titan Goldman Sachs agreed to pay $2.9 billion in penalties to settle criminal charges in the 1MDB Malaysian bribery scandal, the largest US fine ever in a corruption case, the Justice Department announced …

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Amazon extends remote work option to mid-2021 for some employees

  WASHINGTON (AFP) —Amazon said Wednesday it would extend the option of working from home for many of its employees until mid-2021 as part of its response to the Covid-19 pandemic. “The health and safety of our employees is our …

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Wall Street shoots higher with focus on stimulus

  NEW YORK (AFP) — US stocks opened choppy but shot higher in early trading amid a wave of positive talk from Washington policymakers about progress on a rescue package to aid the US economy. The benchmark Dow Jones Industrial …

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New US jobless claims rise sharply to 898,000 last week

  WASHINGTON (AFP) — New applications for US jobless benefits rose unexpectedly last week to 898,000, the Labor Department said on Thursday. The 53,000 increase from the prior week was the sharpest rise in seasonally adjusted initial claims since the week …

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American duo wins Nobel Economics Prize for work on auctions

By Marc PRÉEL / Johannes LEDEL Agence France-Presse STOCKHOLM (AFP) — US economists Paul Milgrom and Robert Wilson won the Nobel Economics Prize on Monday for work on commercial auctions, including for goods and services difficult to sell in traditional …

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Debt of poorest countries hit record $744 bn in 2019: World Bank

  WASHINGTON (AFP) — The debt of the world’s poorest countries hit a record $744 billion in 2019 prior to the coronavirus pandemic but debt relief is lagging, the World Bank said Monday in a report that singles out China. …

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Wall Street stocks plunge as Trump ends stimulus talks

  NEW YORK (AFP) — Wall Street stocks dropped Tuesday, falling abruptly after President Donald Trump ended talks on another round of stimulus spending to support the coronavirus-ravaged US economy. The Dow Jones Industrial Average shed 1.3 percent to close …

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Amazon unveils payment by hand-waving

  WASHINGTON (AFP) — Amazon on Tuesday unveiled a new biometric payment system using palm recognition, to be made available to rival retailers and also promoted as a replacement for badge entry at stadiums or workplaces. The system called Amazon …

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US weekly jobless claims decline slightly to 860,000

WASHINGTON (AFP) — New claims for US jobless benefits continued inching down last week, the Labor Department said Thursday, though at 860,000 the applications were higher than expected. The United States saw a surge in workers filing new benefit claims …

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Vaccine hopes, dealmaking stoke Wall Street optimism

  LONDON (AFP) — European stock markets were close to flat Monday but Wall Street enjoyed positive midday trading, buoyed by coronavirus vaccine hopes and big-ticket deals. Trials on one of the most advanced vaccines resumed at the weekend after …

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Tokyo stocks open lower on profit-taking

  TOKYO (AFP) — Tokyo stocks opened lower on Friday as investors sought to lock in profits from recent rallies after US shares retreated. The benchmark Nikkei 225 index was down 1.50 percent or 351.27 points to 23,114.26 in early …

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