TOPNWS

High egg prices should be investigated, US farm group says

Jan 19 (Reuters) – The Federal Trade Commission (FTC) should review high egg prices for signs of higher prices from major egg companies, a farming group said, as Americans continue to paying more than ever for basic household food. U.S. regulators, farmers and industry have often argued in recent years over the power of big …

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Feds seized nearly $700 million from FTX founder Bankman-Fried

Jan 20 (Reuters) – Federal prosecutors seized nearly $700 million in assets from FTX founder Sam Bankman-Fried in January, much of it in the form of Robinhood stock, according to a court filing on Friday. Bankman-Fried, who was accused of stealing billions of dollars from FTX clients to pay debts incurred by his crypto-focused hedge …

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Amazon’s AWS to invest $35 billion in Virginia

WASHINGTON, Jan 20 (Reuters) – The cloud services division of Amazon.com Inc (AMZN.O) said on Friday it plans to invest an additional $35 billion by 2040 to expand data centers in Virginia. Amazon Web Services (AWS) said the new investment will create 1,000 jobs. Republican Virginia Governor Glenn Youngkin said AWS will establish multiple data …

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Alphabet cuts 12,000 jobs after pandemic hiring spree, refocuses on AI

Jan 20 (Reuters) – Google’s parent company Alphabet Inc (GOOGL.O) is cutting around 12,000 jobs as it faces “a different economic reality”, it said in a memo, doubling down artificial intelligence (AI) and removing staff who support experimental projects. The job cuts affect 6% of its workforce and follow thousands of layoffs at tech giants …

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US home sales fall to 12-year low; glimmers or heaps of emergence

Existing home sales fall 1.5% in December Sales fall 17.8% in 2022, the biggest annual drop since 2008 Median home price rises 2.3% from a year ago WASHINGTON, Jan 20 (Reuters) – U.S. existing home sales fell to their lowest level in 12 years in December, but falling mortgage rates prompted cautious optimism that the …

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Musk expected to take a stand as trial resumes over Tesla tweet

SAN FRANCISCO, Jan 20 (Reuters) – Elon Musk, chief executive of Tesla Inc (TSLA.O), will likely be called to testify on Friday in a jury trial over his 2018 Twitter post that he had “secured financing” to take the electric carmaker private, which shareholders say has cost them millions in business losses. The class action …

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The Fed will offer two 25 basis point hikes in the first quarter, followed by a long pause

BENGALURU, Jan 20 (Reuters) – The U.S. Federal Reserve will end its tightening cycle after hiking 25 basis points at each of its next two policy meetings, then likely keep interest rates stable for at least the next rest of the year, according to most economists in a Reuters poll. Fed officials generally agree that …

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Genesis crypto lending unit files for bankruptcy in the US

Jan 20 (Reuters) – Crypto firm Genesis’s lending unit filed for U.S. bankruptcy protection against creditors on Thursday, topped by a market rout with the likes of exchange FTX and from the BlockFi lender. Genesis Global Capital, one of the largest crypto lenders, froze client redemptions on November 1. 16 after FTX stunned the financial …

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Here’s what Twitter lost in ad revenue in the final months of 2022

NEW YORK/LONDON, Jan 20 (Reuters) – Top advertisers on Twitter cut spending after the Elon Musk takeover, according to estimates compiled for Reuters by research firm Pathmatics, in the latest shock to the top source. of business income. According to Pathmatics estimates, fourteen of the top 30 advertisers on Twitter ceased all advertising on the …

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T-Mobile says investigating data breach involving 37 million accounts

Jan 19 (Reuters) – U.S. mobile operator T-Mobile said on Thursday it was investigating a data breach involving 37 million postpaid and prepaid accounts and planned to take legal action. significant costs related to the incident. The company said it identified malicious activity on January 1. 5 and contained it within a day, adding that …

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