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Pfizer must face lawsuit over diversity fellowship program, US court rules

10 Jan 2025

By Nate Raymond (Reuters) -A U.S. appeals court on Friday revived a lawsuit by a conservative group opposed to diversity initiatives in medicine that challenged a Pfizer fellowship program designed to boost the pipeline of Black, Latino and Native American people in leadership positions at the drugmaker. At the urging of the group Do No …

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US insurers slump as Los Angeles wildfire loss estimates hit $20 billion

10 Jan 2025

By Manya Saini (Reuters) – U.S. insurance stocks slid on Friday as analysts estimated insured losses from the wildfires menacing Los Angeles could reach as high as $20 billion, potentially making it the costliest disaster in California’s history. A pause in the fierce winds that super-charged the ring of wildfires that devastated Los Angeles this …

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Brazil gives Meta 72 hours to explain changes to fact-checking program

10 Jan 2025

SAO PAULO (Reuters) – Brazil’s government will give Meta until Monday to explain the changes to its fact-checking program, Solicitor General Jorge Messias said on Friday. The move comes after the social media company scrapped its U.S. fact-checking program and reduced curbs on discussions around topics such as immigration and gender identity. It is not …

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US consumer inflation expectations soar in January on tariff fears

10 Jan 2025

WASHINGTON (Reuters) – U.S. consumers expect inflation to increase over the next 12 months and beyond, likely reflecting concerns that broad tariffs on imports pledged by President-elect Donald Trump’s incoming administration could raise prices for households. The University of Michigan’s survey showed consumers’ one-year inflation expectations jumped to 3.3% in January, the highest level since …

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UN chief upset Blackrock quit climate group, urges others to stay

10 Jan 2025

By Michelle Nichols UNITED NATIONS (Reuters) – U.N. Secretary-General Antonio Guterres is disappointed that the world’s biggest asset manager, BlackRock BLK.N, has left a global initiative to combat climate change, his spokesperson said on Friday, urging other companies to “stay the course.” The move came under pressure from Republican politicians. BlackRock, which manages some $11.5 …

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US labor market exits 2024 with strong job gains, drop in unemployment rate

10 Jan 2025

By Lucia Mutikani WASHINGTON (Reuters) -U.S. job growth unexpectedly accelerated in December while the unemployment rate fell to 4.1% as the labor market ended the year on a solid footing, reinforcing views that the Federal Reserve would keep interest rates unchanged this month. The Labor Department’s closely watched employment report on Friday also showed a …

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Liquidnet pays $5 million fine to settle US SEC charges over controls, confidentiality

10 Jan 2025

NEW YORK (Reuters) – Liquidnet agreed to pay a $5 million civil fine to resolve U.S. Securities and Exchange Commission charges that the broker-dealer lacked necessary controls regarding market access, and failed to protect confidential subscriber trading information. The SEC said on Friday that Liquidnet violated a rule governing alternative trading systems operators by setting …

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Wall Street ‘fear gauge’ at 3-week high as stocks sink

10 Jan 2025

By Saqib Iqbal Ahmed NEW YORK (Reuters) – Wall Street’s most watched gauge of investor anxiety rose to a three-week high on Friday as stock indexes sold off following a an upbeat jobs report that pushed back market expectations for further Federal Reserve interest rate cuts. The Cboe Volatility Index – an options-based indicator that …

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Delta sees bumper profit on robust premium travel demand, improved pricing

10 Jan 2025

By Rajesh Kumar Singh and Shivansh Tiwary CHICAGO (Reuters) -Delta Air Lines forecast on Friday that 2025 profit would exceed Wall Street expectations thanks to robust demand for premium travel and improved pricing power, and its share price jumped. It also reported higher-than-expected fourth-quarter profit and forecast stronger earnings for the current quarter. Delta’s shares …

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BofA bets on a potential Fed rate hike after jobs report, top Wall-St brokers revise forecasts

10 Jan 2025

By Siddarth S (Reuters) – Top Wall-Street brokerages revised their Fed rate cut forecasts, after a blow-out U.S. jobs report on Friday, with BofA Global Research forecasting a potential rate hike from the central bank. “We think the cutting cycle is over … Our base case has the Fed on an extended hold. But we …

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