By Peter Frontini SAO PAULO (Reuters) -Brazil’s central bank kicked off its rate-cutting cycle more aggressively than expected on Wednesday, reducing its benchmark interest rate by 50 basis poin[...]
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August 2, 2023
GM JV battery firm rejects including Ohio workers under national agreement
By David Shepardson (Reuters) – A General Motors LG Energy Solution battery joint venture on Wednesday said it does not see any path for workers at its Ohio plant to be covered under a national[...]
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Fitch downgrades Fannie Mae, Freddie Mac after US rating cut
(Reuters) -Ratings agency Fitch on Wednesday downgraded U.S. mortgage finance giants Fannie Mae and Freddie Mac Long-Term Issuer Default Ratings (IDR) and senior unsecured debt ratings to ‘AA+[...]
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Wall Street ends down, investors step back after Fitch US rating cut
By David French (Reuters) -Wall Street finished lower on Wednesday, with the S&P 500 and Nasdaq Composite down for a second straight day as investors took profits on five months of gains a day aft[...]
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Labor, industry gear up for dueling Massachusetts gig worker ballot measures
By Nate Raymond BOSTON (Reuters) -An industry-backed group and a labor union on Wednesday proposed letting voters decide whether Uber Technologies and Lyft ride-share drivers in Massachusetts should b[...]
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Occidental Petroleum misses on quarterly profit, raises full-year output
By Mrinalika Roy and Arathy Somasekhar (Reuters) -Occidental Petroleum on Wednesday raised its full-year production forecast by 1%, but missed second-quarter profit expectations due to a slide in oil[...]
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Apple’s high-yield savings account hits over $10 billion in customer deposits
(Reuters) – Apple’s high-yield savings account offered by its partner Goldman Sachs has reached over $10 billion in customer deposits, the technology giant said on Wednesday. The deposit account[...]
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Yellen: Fitch downgrade ‘entirely unwarranted’ amid US economy’s strength
By David Lawder MCLEAN, Virginia (Reuters) -U.S. Treasury Secretary Janet Yellen on Wednesday voiced more complaints about Fitch Ratings’ downgrade of the main U.S. credit rating, calling it[...]
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PayPal’s weak margin eclipses upbeat spending outlook
By Sri Hari N S and Manya Saini (Reuters) -PayPal Holdings shares fell 7% in extended trading on Wednesday as investors were disappointed by the payments firm’s quarterly operating margin, even[...]
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