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U.S. labor board says Starbucks unlawfully fired seven for union efforts

11 May 2022

By David Shepardson WASHINGTON (Reuters) – The U.S. National Labor Relations Board (NLRB) has asked a court to order the reinstatement of seven former Starbucks Corp employees in Memphis, Tennessee who it said were unlawfully fired for exercising their right to form a union. New Orleans-based NLRB Regional Director Kathleen McKinney filed a petition on …

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Congo mines minister seeks to cancel artisanal cobalt monopoly

11 May 2022

By Helen Reid CAPE TOWN (Reuters) – Democratic Republic of Congo Mines Minister Antoinette N’Samba Kalambayi is seeking to cancel a decree granting Entreprise Generale du Cobalt (EGC) a monopoly over artisanal cobalt produced in the country, she told Reuters on Wednesday. EGC was created to buy, process and market artisanal cobalt by government decree …

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S&P 500, Nasdaq end higher in choppy session as inflation data looms

11 May 2022

By Caroline Valetkevitch NEW YORK (Reuters) – The S&P 500 and Nasdaq ended higher on Tuesday, with big growth shares rising after the previous day’s selloff as Treasury yields tumbled. Bank shares fell along with yields. The benchmark 10-year note yield dropped from more than a three-year high to below 3%. The Dow also ended …

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Coinbase misses revenue estimates as retail investors head for the door

10 May 2022

(Reuters) -Coinbase Global Inc missed estimates for first-quarter revenue on Tuesday and posted a loss as turmoil in global markets curbed investor appetite for risk assets including trading in cryptocurrencies. Shares of Coinbase plunged 12.7% to $63.71 in extended trading after the cryptocurrency exchange operator also reported a fall in trading volumes and forecast an …

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Appian soars after winning $2.04 billion verdict against Pegasystems

10 May 2022

By Jonathan Stempel (Reuters) -Appian Corp shares soared and Pegasystems Inc shares tumbled on Tuesday after a Virginia jury ordered Pegasystems to pay its software rival $2.04 billion in damages for misappropriating trade secrets. The damages award issued on Monday by the Fairfax County Circuit Court jury followed a seven-week trial, and may be the …

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Republican leader asks for Democratic nomination to FTC be pulled

10 May 2022

WASHINGTON (Reuters) -U.S. Senate Republican Leader Mitch McConnell urged the Biden administration on Tuesday to reconsider its nomination of privacy expert Alvaro Bedoya to the U.S. Federal Trade Commission, possibly extending the Democrats’ inability to take control of the agency. In a floor speech, McConnell said of Bedoya: “He is an essentially foolish choice – …

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Electronic Arts forecasts sales below estimates as pandemic boom fades

10 May 2022

(Reuters) – Electronic Arts Inc on Tuesday forecast first-quarter adjusted sales below estimates, bracing for weaker sales of its “Battlefield 2042” title and a slowdown in lockdown-fueled demand. The results come hours after the company said it was ending a lucrative partnership with world soccer governing body FIFA after nearly three decades. The Redwood City, …

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