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Shanghai aims for June 1 return to normal as COVID lockdown batters economy

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Shanghai aims to lift COVID lockdown on June 1 City’s residents frustrated with shifting schedules China’s retail sales, industrial output plunge in April SHANGHAI / BEIJING, May 16 (Reuters) – Shanghai set out plans on Monday for the end of a painful COVID-19 lockdown that has lasted more than six weeks, heavily bruising China’s economy, …

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Exxon exodus turns floating ‘cube’ into Internet meme

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HOUSTON, Oct 4 (Reuters) – Exxon Mobil’s trophy US campus is becoming an Internet meme. The visually stunning complex, sometimes compared to Apple’s ring and Alphabet’s Googleplex campuses, opened in 2014 as Exxon stood atop of the global oil market. Its centerpiece is a giant cube that appears to float above the office and research …

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IMF lifts weighting of dollar, Chinese yuan in SDR basket

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Chinese Yuan and US dollar banknotes are seen in this illustration taken February 10, 2020. REUTERS/Dado Ruvic/Illustration/File Photo Register now for FREE unlimited access to Reuters.com Register BEIJING, May 15 (Reuters) – The International Monetary Fund said on Saturday it has increased the weighting of the dollar and Chinese yuan in its review of the …

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Nigeria’s markets regulator publishes rules on crypto assets

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LAGOS, May 14 (Reuters) – Nigeria’s markets regulator has published a set of regulations for digital assets, signaling Africa’s most populous country is trying to find a middle ground between an outright ban on crypto assets and their unregulated use. Nigeria’s central bank last year banned banks and financial institutions from dealing in or facilitating …

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Elon Musk says Twitter legal team told him he violated an NDA

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Tesla CEO Elon Musk attends the Tesla Shanghai Gigafactory groundbreaking ceremony in Shanghai, China January 7, 2019. REUTERS/Aly Song Register now for FREE unlimited access to Reuters.com Register May 14 (Reuters) – Elon Musk on Saturday tweeted that Twitter Inc’s (TWTR.N) legal team accused him of violating a nondisclosure agreement by revealing that the sample …

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EXCLUSIVE Maker of Walmart, Amazon store-brand infant formulas expects shortages through rest of 2022

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Empty shelves show a shortage of baby formula at a Target store in San Antonio, Texas, US May 10, 2022. REUTERS/Kaylee Greenlee Beal Register now for FREE unlimited access to Reuters.com Register NEW YORK, May 13 (Reuters) – Perrigo Company PLC (PRGO.N), which makes store-brand baby formulas for retailers including Walmart Inc (WMT.N) and Amazon.com …

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EXCLUSIVE Tesla puts India entry plan on hold after deadlock on tariffs-sources

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NEW DELHI, May 13 (Reuters) – Tesla Inc (TSLA.O) has put on hold plans to sell electric cars in India, abandoned a search for showroom space and reassigned some of its domestic team after failing to secure lower import taxes, three people familiar with the matter told Reuters. The decision caps more than a year …

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Musk puts on hold $ 44-billion deal for Twitter, shares slump

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May 13 (Reuters) – Elon Musk on Friday put his $ 44-billion deal for Twitter Inc (TWTR.N) temporarily on hold, citing pending details in support of calculation that spam and fake accounts indeed represent less than 5% of users. Shares of the social media company fell 17.7% to $ 37.10 in premarket trading, their lowest …

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Mercedes-Benz issues ‘do not drive’ recall for 292,000 US vehicles

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WASHINGTON, May 12 (Reuters) – Mercedes-Benz’s (MBGn.DE) US unit said on Thursday it is recalling 292,000 ML, GL and R-Class vehicles from the 2006 through 2012 model years over braking issues and urged owners to stop driving immediately . The National Highway Traffic Safety Administration (NHTSA) said the German automaker was issuing a voluntary “do …

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Twitter CEO says two leaders to depart, hiring paused amid Musk takeover

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May 12 (Reuters) – Two senior Twitter (TWTR.N) leaders who oversee the consumer and revenue divisions will depart the social media company, Chief Executive Officer Parag Agrawal told employees in a memo on Thursday, in one of the biggest shake-ups at the company since billionaire Elon Musk announced he would buy it for $44 billion. …

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