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US weekly jobless claims fall to nine-month low; productivity speeds up

Weekly jobless claims fall by 3,000 to 183,000 Continuing claims decrease by 11,000 to 1.655 million Productivity accelerates at a rate of 3.0% in the fourth quarter Unit labor costs increase at a rate of 1.1% WASHINGTON, Feb 2 (Reuters) – The number of Americans filing new claims for unemployment benefits fell to a nine-month …

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Adani’s market losses top $100bn as discontinued stock sale spooks investors

NEW DELHI/MUMBAI, Feb 2 (Reuters) – Adani Group’s market losses hit more than $100 billion and raised concerns about their potential systemic impact on Thursday, a day after its flagship company quit a $2.5 billion stock offering. The withdrawal from the Adani Enterprises (ADEL.NS) stock sale caps a dramatic setback for founder Gautam Adani, the …

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Honda will start producing a new hydrogen fuel cell system co-developed with GM

TOKYO, Feb 2 (Reuters) – Japan’s Honda Motor Co (7267.T) said it would start producing a new hydrogen fuel cell system jointly developed with General Motors Co (GM.N) this year and increase gradually its sales this decade, into an offer to develop its hydrogen activity. Honda will target annual sales of around 2,000 units of …

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Wall St rallies as Fed’s Powell nods to easing inflation after rate hike

The Federal Reserve raises rates by 25 basis points Powell says for the first time disinflation has started Indices up: Dow 0.02%, S&P 1.05%, Nasdaq 2% Feb 1 (Reuters) – The S&P 500 and Nasdaq closed sharply higher on Wednesday after Federal Reserve Chairman Jerome Powell acknowledged that inflation was starting to subside, in remarks …

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Adani drops $2.5bn share sale in blow to Indian tycoon

NEW DELHI, Feb 1 (Reuters) – Gautam Adani’s flagship company on Wednesday called off its $2.5 billion share sale in a dramatic reversal as the rout sparked by criticism from a U.S. short seller erased billions more of the value of the Indian tycoon’s shares. The withdrawal of the Adani Enterprises (ADEL.NS) stock offering marks …

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Gautam Adani loses Asia’s richest crown as stock rout worsens to $84bn

BENGALURU, Feb 1 (Reuters) – Indian tycoon Gautam Adani lost his title as Asia’s richest person on Wednesday as the rout of his conglomerate’s biggest companies worsened to $84 billion following a a report on short sellers. A Hindenburg Research report last week alleged the group’s misuse of offshore tax havens and stock manipulation, as …

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AMD revenue beats targets, Wall St relieved after Intel’s bleak outlook

Jan 31 (Reuters) – U.S. chipmaker Advanced Micro Devices Inc (AMD.O) reported revenue above Wall Street targets on Tuesday and said it expected business to improve in the second half, giving excitement investors who saw the company win over rival Intel. The shares rose about 1.5% after hours trading. Although AMD’s predictions lagged behind expectations, …

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US stops granting export licenses to Chinese Huawei – sources

Jan 30 (Reuters) – The Biden administration has stopped approving licenses allowing U.S. companies to export most items to China’s Huawei, according to three people familiar with the matter. Huawei has faced U.S. export restrictions on items for 5G and other technologies for several years, but U.S. Commerce Department officials have granted licenses to some …

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