The United States is ready to authorize Chevron to increase oil production in Venezuela

The United States is ready to allow the oil giant to produce and sell Venezuelan oil Chevron is owed billions in unpaid debt by the state-run company PDVSA The United States aims to divert Venezuelan oil sales from shadow companies HOUSTON (Reuters) – Chevron Corp may soon win U.S. approval to expand operations in Venezuela … Read more

New labor unrest rocked the huge Foxconn iPhone factory in China

Pictures online show hundreds of workers protesting Surveillance cameras and windows were smashed by men with sticks Workers complain of delayed wages and inadequate food Foxconn says work to prevent recurrence of violence SHANGHAI/TAIPI (Reuters) – Hundreds of workers took part in protests at a Foxconn station. (2317.TW) Footage uploaded to social media showed the … Read more

First TVs, now tortilla chips: American companies set minimum prices to stop discounting

NEW YORK, Nov. 17 (Reuters) – Makers of everything from toys to wafers are increasingly placing minimum prices on their items to maintain profits and limit price cuts as retailers like Walmart do so. (WMT.N) and Amazon.com Inc (AMZN.O) Trying to attract sales from each other over the Internet. As a result, shoppers are faced … Read more

Amazon is laying off some hardware unit employees as it targets 10,000 cuts

November 16 (Reuters) – Amazon.com Inc (AMZN.O) The company said on Wednesday it had laid off some employees in its hardware group, with a person familiar with the company saying it was still targeting about 10,000 jobs, including in its retail and human resources divisions. The announcement, the first for Amazon since media outlets including … Read more

Trump’s 2024 presidential bid was a new wrinkle for the markets

NEW YORK (Reuters) – Former President Donald Trump’s entry into the 2024 presidential race on Tuesday confirmed the world’s “worst-kept secrets” and created another variable for markets that some investors say remains a low priority for now. Trump, who has launched relentless attacks on voting integrity in the United States since his defeat in the … Read more

Twitter temporarily closes offices as layoffs begin

Employees have to hear by 1600 GMT whether they will be laid off Musk looks to cut about half of the workforce – internal plans Employees file a class action lawsuit against Twitter Nov 4 (Reuters) – Twitter Inc temporarily closed its offices Friday after telling employees that they will be notified by email later … Read more

Exclusive: Twitter is losing its most active users, internal documents show

October 25 (Reuters) – Is Twitter dying? Billionaire Elon Musk mused in April, five days before he offered to buy the social media platform. Indeed, according to the internal Twitter site (TWTR.N) The research, seen by Reuters, goes beyond just a few examples of celebrities cheating their own accounts. Twitter struggles to keep its most … Read more

Contrasting views: Xi’s contract with China needs more signatures

HONG KONG, Oct 23 (Reuters) – Xi Jinping effectively secured a third term as president at the just-concluded secret meeting of the Communist Party of China. His prize: a $16 trillion economy in a weak country, dependent on American technology and facing a demographic crisis. Xi also faces popular resentment over the economic pain his … Read more

The race to be the UK’s next prime minister begins as momentum builds behind Boris Johnson

Mordaunt becomes the first to announce his intent to run Candidates must reach the target of 100 nominations Sunak is a bookmaker’s favourite The winner will be the fifth British Prime Minister in six years LONDON (Reuters) – Boris Johnson is gaining momentum in his audacious bid to return as Britain’s prime minister, with colleagues … Read more

Analysis: World Cup could be a nightmare before Christmas for UK supermarkets

Food retailers are under severe pressure from cost inflation Usually the World Cup and Christmas give sales prizes Events coincide with the complexity of logistics and spending patterns LONDON (Reuters) – The Winter World Cup has added a new level of uncertainty to the Christmas trading outlook for British supermarkets: how to convince cash-strapped shoppers … Read more