Economy

  • World

    Walmart, largest US employer, orders staff to vaccinate

    The mandate covers all campus staff as well as market, regional and divisional employees, the retailer said. Walmart Inc., the largest private employer in the U.S., is requiring its headquarters and regional staff to be vaccinated by Oct. 4, joining Google in instituting a policy that may set a standard for corporate America as the highly contagious delta variant continues…

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  • World

    Exxon posts biggest quarterly profit in a year, exceeds estimates

    The firm’s upbeat results show how oil producers are using the rally in prices to cut debt and boost shareholder payouts. ExxonMobil on Friday posted its biggest quarterly profit in more than a year, sailing past analysts’ estimates and boosted by higher oil prices and record earnings at its chemicals business. The upbeat results following a contested board fight over…

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  • World

    US consumer spending rose more than expected in June

    As more places reopened and people got COVID-19 jabs, consumers confidently spent money at restaurants and stores. U.S. personal spending accelerated more than expected in June, reflecting a ramp up in outlays on services, while a closely watched inflation measure continued to climb. Purchases of goods and services increased 1% from a month earlier, following a downwardly revised 0.1% drop…

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  • World

    Robinhood’s IPO, unrest in Tunisia and a Jupiter moon shot

    Happy Friday, dear readers! It’s been a minute since we brought you the biggest economic and business news stories of the week. But fear not, we have everything you need to know to wow a captive audience this weekend or be the smartest person at Sunday brunch. Without further ado, here are the biggest stories you might have missed this…

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  • World

    EU ‘ready’ to sanction Lebanese officials over political crisis

    European Union says it is ready to impose sanctions on Lebanon’s ruling elite over the country’s political crisis. Beirut, Lebanon – The European Union said it has adopted a legal framework to impose sanctions on Lebanese officials and entities engaged in corruption, the obstruction of government formation, and the stalling of economic and accountability reforms. Lebanon has been without a…

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  • World

    What will Mexico’s referendum on corruption achieve?

    Mexico City, Mexico – The posters hung throughout the capital this week are unequivocal in their message: “By judging the authorities of the past, those of the present and the future will think twice.” Beneath those words are images of the last five presidents who ruled Mexico from 1988 to 2018: Carlos Salinas de Gortari, Ernesto Zedillo Ponce de Leon,…

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  • World

    Nasdaq, S&P 500 tumble as Amazon has worst day since March 2020

    Other tech behemoths – including Apple Inc, Google parent Alphabet Inc, and Facebook Inc – also took a dip. The Nasdaq and S&P 500 indexes fell on Friday following a glum quarterly earnings report from Amazon.com, while data showing a strong rise in June consumer spending reinforced optimism about a steady economic rebound. Amazon.com Inc sank 6.9 percent, tracking its…

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  • World

    SEC halts Chinese IPO listings until risks are divulged

    The US Securities and Exchange Commission said such disclosures are at the heart of its mandate to protect investors. The U.S. Securities and Exchange Commission has halted initial public offerings of Chinese companies until they provide more disclosures about investment risks. SEC Chair Gary Gensler said the Chinese government’s recent crackdown on foreign listings and its announcement of enhanced cybersecurity…

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  • World

    Two Koreas in talks to reopen joint office, hold summit: Report

    North and South Korea are in talks to reopen a joint liaison office that Pyongyang demolished last year and hold a summit as part of efforts to restore relations, three South Korean government sources with knowledge of the matter told Reuters news agency. South Korean President Moon Jae-in and North Korean leader Kim Jong Un have been exploring ways to…

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  • World

    Amazon sales to decelerate as pandemic high wanes

    The Seattle-based company’s shares fell 6 percent in after-hours trading. Amazon.com Inc.’s second-quarter sales and forecast for the current period fell short of analysts’ expectations, suggesting the biggest online retailer’s rapid growth through the pandemic is waning as people revert to old shopping habits. Shares fell more than 6% in extended trading. The Seattle-based company rallied through the pandemic as…

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