TOPNWS

UK’s teachers and civil servants join biggest strikes in years on ‘Walkout Wednesday’

Up to 500,000 people expected to join UK strikes Government says big pay rises will fuel inflation Schools will close, most trains will not run More strikes involving health workers due next week LONDON, Feb 1 (Reuters) – Up to half a million British teachers, civil servants, train drivers and university lecturers walked out over …

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

SHANGHAI, Jan 30 (Reuters) – China’s smartphone sales endured a record fall in 2022, tumbling 13% to their lowest level in a decade as COVID controls and a slowing economy sapped consumer appetite, data from third-party research firms showed. The total number of devices shipped was 286 million, down from 329 million in 2022. It …

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Adani hits back at Hindenburg, says it made all disclosures

Adani issues 413-page rebuttal to Hindenburg report US short-seller’s report sparked falls in Adani shares Adani says comply with laws, necessary disclosures Adani CFO confident $2.5 bln share sale will succeed NEW DELHI, Jan 30 (Reuters) – India’s Adani Group issued a detailed riposte on Sunday to a Hindenburg Research report that sparked a $48 …

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UK factories cut prices, helping BoE’s inflation fight

LONDON, Jan 25 (Reuters) – Britain’s manufacturers unexpectedly reduced their prices in December by the most since April 2020, welcome news for the Bank of England which is weighing up how much higher it needs to take interest rates to fight soaring inflation. Output prices fell by 0.8% in December from November, the Office for …

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

Jan 20 (Reuters) – Google’s parent Alphabet Inc (GOOGL.O) is cutting about 12,000 jobs as it faces “a different economic reality”, it said in a staff memo, doubling down on artificial intelligence (AI) and axing staff who support experimental projects. The job cuts affect 6% of its workforce, and follows thousands of layoffs at tech …

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Exclusive: ECB union says staff losing faith in leadership over inflation, pay

40% of ECB staff has low or no trust Two-thirds say confidence is damaged 63% worried about ECB’s ability to protect purchasing power FRANKFURT, Jan 17 (Reuters) – European Central Bank staff are losing confidence in the institution’s leadership following the ECB’s failure to control inflation and a pay award that lagged the leap in …

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Asian shares rise, yen climbs as BOJ battles bond bears

https://tmsnrt.rs/2zpUAr4 BOJ under intense pressure as it defends yield policy Yen hits 7-mth high, yuan climbs as dollar eases Hopes for rapid China recovery aids most Asia stocks More earnings ahead, many central bank speakers SYDNEY, Jan 16 (Reuters) – Asian shares firmed on Monday as optimism about China’s reopening offset concerns the Bank of …

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Yellen warns of US default risk by early June, urges debt limit hike

WASHINGTON, Jan 13 (Reuters) – US Treasury Secretary Janet Yellen said on Friday the United States will likely hit the $31.4 trillion statutory debt limit on Jan. 19, forcing the Treasury to launch extraordinary cash management measures that can likely prevent default until early June. “Once the limit is reached, Treasury will need to start …

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British shoppers defy cost-of-living crisis at Christmas

Early signs UK retailers’ Christmas exceeded expectations Next posts 4.8% rise in full-price sales in 9 weeks to Dec. 30 Sales at B&M, Greggs and Boots also rise Retail stocks jump LONDON, Jan 5 (Reuters) – Britons spent more than expected over Christmas, Next, one of the country’s biggest clothing retailers, said on Thursday in …

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