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Some firms have been indicted over an alleged Olympic contract bid-rigging
Japanese prosecutors raided the headquarters of advertising company Dentsu for allegedly rigging bids for Tokyo Olympics test events, Japanese media reported on Friday. Dentsu and five other firms have been indicted in South Korea for alleged bid-rigging. Tokyo Governor Yuriko Koike said if the test event bid-rigging allegations are proven, she will seek damages from…
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It’s difficult to find an open squat rack at the gym
The popularity of weight training has surged after the coronavirus pandemic in the US. “There’s [fewer] minutes spent on cardio [compared] to pre-coronavirus,” Planet Fitness CEO Chris Rondeau said on an earnings call on Thursday. He added that strength training has been the most popular class over the past two years and Planet Fitness is…
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There are federal agencies that have bans on government-issued devices
After Forbes claimed TikTok’s parent ByteDance wanted to use the app to “monitor the personal location of some specific American citizens,” TikTok accused Forbes of leaving off a vital part of its statement. In a series of tweets, TikTok accused Forbes of left off a vital part of its statement, which says TikTok does not…
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Mortgage rates went up on inflation concerns
Mortgage application activity in the US fell to a quarter-century low this week, as rising mortgage rates weaken the housing market, according to Freddie Mac. A year ago, a buyer who put 20% down on a $390,000 home had a monthly mortgage payment of $1,324, Freddie Mac added. However, more homeowners are still paying their…
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Russia’s Wagner mercenary group does not recruit convicts
Private military contractor Wagner will have to look for new fighters outside Russia’s prison system, its CEO Yevgeny Prigozhin said. “We have completely discontinued the recruitment of prisoners into Wagner PMC. They said many prisoners with weeks left in their sentences signed up after seeing Prigozhin,” he added. Prigozhin further said that millions of US…
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The three big unknowns will drive the markets in the future
The US’ economy has been shaped by rising interest rates and inflation during the first two years of the 21st century, as per Julia Coronado, President of the National Association for Business Economics. According to the National Association for Business Economics, the sharp hike in rates showed up first in areas such as real estate,…
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There is a shortage of women tech leaders
Women leaders are more likely to leave their companies than ever before over the COVID-19 pandemic, according to a survey conducted by consulting firm McKinsey & Company. It said women leaders were 1.5 times more likely to have colleagues say or imply they’re not qualified for their jobs. The survey of women workers across hundreds…
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The man sheds light on brutality in the country
Russian military contractor Wagner Group has stopped recruiting convicts from Russian prisons to fight in Ukraine amid a conflict between Russian forces and the Ukrainian military, its CEO Yevgeny Prigozhin said. “Those who work for us now are fulfilling all their obligations,” he said. Prigozhin’s statement comes after reports claimed that Russian Defence Minister Sergei…
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Despite the drop in PC demand, Nvidia is still making billions
AMD CEO Lisa Su said during a conference call that the company will be betting on lots of people buying consoles during the holiday season. She added that AMD will also unveil a new architecture for its processors on November 10. AMD’s third-quarter profits dropped by 93% compared to the previous year, due to higher…
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The former FTX CEO was released onbond after appearing in court
FTX CEO Lloyd Bankman-Fried, who was extradited from the Bahamas on Thursday, has been accused of stealing more than $1 billion from his online trading platform. Bankman-Fried was extradited from the Bahamas after being indicted by a US federal grand jury on charges of securities fraud and wire fraud. Bankman-Fried was arrested in the Bahamas…
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The 4-day workweek will go on for many U.K. companies after a pilot program ends
A study conducted by UK-based organisation 4 Day Week Global found that employees who worked 80% of their usual hours for the same pay reported more satisfaction. “This was the largest number of companies ever to participate in…trial,” said David Frayne, a research associate at University of Cambridge who worked on the study. The study’s…
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What does Microsoft have that works for video games with or without Callista
Nvidia’s head of GeForce Now, Mark Eisler, said that Microsoft’s acquisition of GeForce Now could finally break the cloud gaming “chicken-and-egg cycle”. “Unless they are free to play then you have to buy them from Steam, the Unreal Games Store and/or the Microsoft Store,” he added. He further said that GeForce Now will roll out…
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Microsoft responded to the FTC’s lawsuit
Microsoft CEO Brad Smith in an op-ed in The Wall Street Journal on Monday said an FTC suit to block its deal with Activision would be a “huge mistake”. It would allow the company to innovate new features such as the ability for consumers to play the same game on multiple devices, he added. The…
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Workers at 100 Starbucks stores are planning to go on strike for three days
Starbucks CEO Howard Schultz has said the coffee chain is “going from Russia for good”, adding he believes Starbucks is gone from Russia “for good”. “I think Starbucks is gone from Russia for good,” Schultz said. Starbucks exited the country last year because of Russia’s attack on Ukraine, and Schultz doesn’t see the company ever…
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Walmart warns that it is in for a rough year
Walmart reported that its third-quarter net sales fell by 0.6% from a year ago, while the company’s same-store sales fell 2.1%. The world’s largest retailer had reported a rise of 1.3% in its same-store sales in its August quarter. Walmart’s same-store sales were down 3.2% in October from a year ago. Walmart also announced that…
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During the UK trial, men did a lot of work
A large-scale study carried out by advocacy group 4 Day Week Global found that 33 companies that had four-day workweeks for six months will not return to a standard schedule next year. The group has signed up dozens of companies to participate in the study next year. It said that it’s the largest number of…
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The market is beating the company this year
Warren Buffett’s Berkshire Hathaway, which owns brands like Dairy Queen, Fruit of the Loom and Duracell, expects its earnings per share for 2021 to range between $19 and $20, according to Bloomberg. The company had earlier reported that its second-quarter profit rose to $9.1 billion from $6.3 billion in the year-ago period. Berkshire has a…
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Canfranc Estacion: An abandoned train station has been turned into a hotel
A hotel has been opened at Canfranc station, once an abandoned railway station, in Spain. Mayor of Canfranc Fernando Snchez Morales said that locals have greeted the opening “with enthusiasm”. During World War II, Canfranc was a hive of activity and intrigue, witnessing arrests, espionage and gold trafficking. The station closed in 1970, after being…
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A source says that the Nets are trading Kevin Durant to the Suns
The Phoenix Suns have agreed on a trade with the Brooklyn Nets to acquire NBA’s three-time scoring champion Kevin Durant from the Nets. The Suns will send Jae Crowder, Mikal Bridges, Cam Johnson and two first-round picks to the Nets for Durant and Gerald Green. As part of the deal, the Nets will receive Mikal…
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The University of California and its workers have a tentative agreement
Thousands of Starbucks workers went on strike in US on Friday, demanding better wages and working conditions. The striking workers had walked off the job for three hours after the company refused to meet their demands. Starbucks had threatened to ban the workers from taking classes if they didn’t pay the tuition and other charges…
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Household debt, credit card balances, and delinquencies all increased last quarter
Interest rates in the US have jumped at the fastest rate in 40 years, driven by the surge in inflation, Bankrate.com Chief Financial Analyst Greg McBride said. Mortgage rates have rocketed to 20-year highs, home equity lines of credit are the highest in 14 years, and car loan rates are at 11-year highs, he added.
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The rules for chip export controls to China are being finalized
The US, Netherlands and Japan have agreed to ban the export of EUV (extreme ultraviolet) machines made by ASML to China, which is ASML’s third-biggest market after Taiwan and South Korea. Earlier, the Dutch government withdrew ASML’s license to export its EUV machines to China. The US had banned sale of the EUV machines to…
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The charges against the NewsNation reporter were dismissed
The Wall Street Journal (WSJ) has demanded answers after a police officer detained and handcuffed one of its reporters outside a Chase bank in US’ Phoenix, Arizona. In a video that has surfaced, journalist Michael Rabouin can be heard saying he volunteered to stop reporting but the officer then handcuffed him and threatened to shove…
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You can’t be sure which security camera you will get
Video doorbell maker Eufy has clarified that it didn’t upload video of users to its cloud, as claimed by security researcher Paul Moore. It only uploaded images for delivery of push notifications to its customers, it added. Moore had claimed in November last year that videos from several Eufy cameras were uploaded to Eufy’s cloud…
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Williams was named Louis Vuitton’s next men’s creative director
Pharrell Williams has been appointed as the Creative Director of Louis Vuitton’s men’swear collection. The 47-year-old musician and designer will replace Virgil Abloh as the creative director of men’swear, whom he joined in 2018. A statement issued by the fashion house read, “We wish Pharrell all the best for the coming seasons.” Williams has previously…