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Meta shares sink 20% as Facebook loses daily users for the first time

3 Feb 2022

By Elizabeth Culliford and Nivedita Balu (Reuters) – Facebook owner Meta Platforms Inc’s shares plunged more than 20% late on Wednesday after the social media company posted a weaker-than-expected forecast, blaming Apple’s privacy changes and increased competition for users from rivals like TikTok. Facebook’s global daily active users declined from the previous quarter for the …

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Fed nominees say inflation is ‘grave threat,’ vow to fight

3 Feb 2022

By Ann Saphir and Jonnelle Marte (Reuters) – U.S. President Joe Biden’s nominees to the Federal Reserve Board came out swinging against high inflation on Wednesday, saying rising prices pose a threat to economic growth and stopping that trend is a paramount task for the central bank. “Our most important task is tackling inflation,” Michigan …

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Union to weigh steps in U.S. refinery worker contract -message

3 Feb 2022

By Erwin Seba HOUSTON (Reuters) – The United Steelworkers union (USW) will conduct meetings on Thursday to consider the next steps in talks for a new contract covering workers at U.S. refineries, chemical plants and oil pipelines, according to a text message to members on Wednesday seen by Reuters. The USW and Marathon Petroleum Corp, …

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