Latest From Bloomberg
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Biden, Johnson Discuss Strengthening U.S.-U.K. Ties in Call
U.K. Prime Minister Boris Johnson became the first European leader to speak with U.S. President Joseph Biden since his inauguration in a phone call that focused on ways to strengthen bilateral ties, collective defense and fight climate change.
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Dubai Shares Drop on Restrictions, Kuwait Banks Rise: Inside EM
Dubai’s main equities index led losses in the Middle East after a fresh set of restrictions to contain the spread of coronavirus as cases keep rising. Banks in Kuwait advanced on potential dividend resumption.
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IMF Urges Spending Control for a Tunisia Gripped in Protests
The International Monetary Fund urged Tunisian authorities to focus more on promoting growth and curbing poverty, as the North African nation grapples with a wave of protests over mounting hardship.
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Australia Says ‘Inevitable’ Google, Others Have to Pay for News
Australia’s Treasurer Josh Frydenberg said it’s “inevitable” that Google and other tech behemoths will have to eventually pay for using media content, responding to the internet giant’s threat to disable its search engine in the country if it’s forced to pay local publishers for news.
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Nine Workers Trapped in China Gold Mine Rescued, CCTV Reports
Nine workers trapped by a blast at a gold mine in east China’s Shandong province two weeks ago were rescued and brought to the surface on Sunday, state media CCTV reported.
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Libya Restarts Oil Pipeline to Biggest Port After Repairs
Libya restarted a pipeline that carries crude oil to its biggest export terminal, after a halt that caused the OPEC member’s production to drop to the lowest level in two months.
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Covid Shot Scarcity Weighs on Hopes for Biden’s Global Push
With a new president in the White House, the U.S. is re-engaging with the rest of the world to combat Covid-19. But for now, the Biden administration may hold back the one thing poorer countries desperately need: vaccines.
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Leaders of Vaccine Rollout Deliver World-Beating Market Gains
The race to deliver the jab to the world’s populations has so far been led by a handful of smaller nations, and now they’re outpacing some of the wealthiest countries in the eyes of traders too.
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In Zimbabwe, Coronavirus Sick Told to Buy Their Own Ventilators
Zimbabwe shows what happens when the coronavirus collides with one of the world’s most run-down health systems.
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Diamond Trade Is Roaring Back Thanks to Stuck-at-Home Shoppers
The global diamond trade spent years in the doldrums, only to be crippled by the pandemic just as things started looking up. Now, at last, business is booming again.
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U.S., Japan Defense Chiefs Agree to Strengthen Alliance in Call
Newly appointed U.S. Secretary of Defense Lloyd Austin and his Japanese counterpart Nobuo Kishi agreed to strengthen the alliance between their two countries in a phone call early Sunday Tokyo time, Japan’s Defense Ministry said in a statement.
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U.S. Says China Military Pressure Against Taiwan Threatens Peace
The U.S. State Department urged China to engage in dialogue with Taiwan’s democratically elected representatives and cease putting military, diplomatic and economic pressure on the island, according to a statement on Saturday.
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Seven Big Banks Escape With Minor Fines in Mexico Antitrust Case
Mexico’s antitrust body has fined seven banks a total of $1.5 million, only 4% of potential penalties, following a four-year investigation into alleged price rigging in the peso bond market, according to a document seen by Bloomberg News.
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Indonesia Sees Risks to Growth on Virus Curbs, Natural Disasters
Indonesia sees downside risks for economic growth in the first quarter as the government imposed more restrictions to curb a worsening coronavirus outbreak, said the finance minister.
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Broadcasting legend Larry King dies at 87
Larry King, the broadcast interviewer whose nonconfrontational style attracted celebrities and newsmakers as guests and made him the star of a top-rated U.S. cable talk show, has died. He was 87.
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N.Y. Vaccine Shortage Eases; California Cases Slow: Virus Update
Governor Andrew Cuomo said more vaccines are on the way for New York, though he said the bigger challenge is getting skeptical Black and Latino residents to take the shot. U.S. governors are stepping up complaints that the federal government is not giving them enough vaccine.
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Biden Names Democrat Hanson as Chair of Nuclear Regulator
President Joe Biden designated Christopher Hanson, currently a commissioner on the Nuclear Regulatory Commission, as the agency’s new chairman, effective immediately.
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Ex-DOJ Official Called ‘Radioactive’ After Alleged Election Plot
The Trump administration’s top environmental lawyer faces career repercussions and possibly ethics probes in the wake of allegations, which he disputes, that he worked with President Donald Trump to try to cast doubt on the 2020 election results.
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Russia’s Sputnik Vaccine Close to Approval for Use in Pakistan
Pakistan is close to granting approval to Russia’s Sputnik V vaccine, as world’s fifth most-populous nation looks to start inoculations against the coronavirus.
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Fed Takes U.S. Fiscal Temperature in New Era of Biden: Eco Week
U.S. Federal Reserve officials will meet this week for the first time since Democrats took control of the Senate earlier this month, which has raised the odds of new President Joe Biden and his congressional allies passing a big pandemic relief package.
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Rates Traders Are Counting on Powell to Quell Talk of 2021 Taper
Rates traders say there’s one message they want to hear most from Jerome Powell this coming week: reassurance that the Federal Reserve’s $120 billion of monthly bond purchases will continue unabated for the foreseeable future.
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Hedge Funds Beef Up Tech Holdings Before Apple, Amazon Earnings
Hedge funds have fallen back in love with technology giants after spending the final months of last year cutting back on these stocks.
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Junk Sales Set to Break January Record: U.S. Credit Week Ahead
The high-yield bond market is wrapping up what’s likely to be the busiest January on record next week as investors continue to pour cash into risky assets as they hunt for higher returns.
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GlobalWafers Raises Bid for Siltronic to $5.3 Billion
Taiwan’s GlobalWafers Co. increased its offer to buy Siltronic AG to 145 euros ($176) a share to value its German rival at 4.4 billion euros.
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Kuwait Central Bank Allows Lenders to Distribute 2020 Dividends
Kuwaiti lenders will be allowed to distribute cash profits based on their 2020 financial results, the Central Bank of Kuwait said on Saturday.
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Texas Case Against Biden Hinges on Legality of Last-Minute Deal
The Department of Homeland Security, 12 days before President Joe Biden was sworn in, struck a “binding” deal with Texas agreeing to consult with the state for 180 days before making changes to immigration policy, effectively tying the hands of the new administration.
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Cyber Firm SonicWall Says It Was Victim of ‘Sophisticated’ Hack
The cybersecurity company SonicWall Inc. said it had been the victim of a coordinated attack on its internal systems by “highly sophisticated” hackers.
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Slow Vaccine Campaign Remains a ‘Puzzle’ to Ex-Warp Speed Chief
Moncef Slaoui says a fragmented U.S. health-care system is partly to blame for the halting pace of the Covid-19 vaccine rollout
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Mauritius Receives First 100,000 Doses of AstraZeneca Vaccine
Mauritius will use its first 100,000 Covid-19 vaccines to inoculate 50,000 frontline workers as part of a plan the government says will contribute to a revival of crucial industries.
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‘Frothy Squared’: Crypto Firms Are Lining Up to Tap Market Mania
The IPO fever whipping up animal spirits in the stock market has spilled over into the crypto-sphere.
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French Group Advises Delaying Second Shots to Vaccinate Faster
France’s top health authority is recommending a doubling of the time between two vaccine shots as a way to stretch supplies and inoculate as many people as quickly as possible amid a resurgence in the spread of Covid-19.
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Oxygen Shortage Plunges the Amazon's Capital Into a Covid Nightmare
Manaus's health-care system has collapsed, and without substantial government help, families have been left to save their own lives.
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Oil Industry Reels as Biden Targets Fossil Fuels in First Days
Hours after taking office, President Joe Biden made good on a campaign promise to cancel the Keystone XL oil pipeline. Later that day his Interior Department mandated that only top agency leaders could approve new drilling permits over the next two months.
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A European Pensions Giant Is Freed to Sell Bonds, Add Risk
ATP, a state-backed pension fund in Denmark with about $150 billion under management, is set to shift a larger chunk of its portfolio into risky assets after the government said it wants the investor to chase higher returns.
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Biden Seeks to Juice Economy as Congress Spars Over Stimulus
President Joe Biden is discovering the limits of his power to boost the world’s largest economy on his own, as congressional opposition to his sweeping stimulus plan hardened soon after he was inaugurated.
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‘Dark Money’ Helped Pave Joe Biden’s Path to the White House
President Joe Biden benefited from a record-breaking amount of donations from anonymous donors to outside groups backing him, meaning the public will never have a full accounting of who helped him win the White House.
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Senate Deal Delays Trump Trial, Clears Way for Biden Nominees
Senate Majority Leader Chuck Schumer struck a deal with GOP leader Mitch McConnell that puts off former President Donald Trump’s impeachment trial for two weeks, allowing the chamber to forge ahead with confirmation votes on President Joe Biden’s cabinet picks.
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Trial for ‘Wonder Drug’ That May Reduce Covid Deaths, Times Says
Oxford University researchers are planning a large-scale trial of an inexpensive drug that could help dramatically reduce Covid-19 deaths globally, according to a report in the Times.
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Yield Curve Control Nonsensical for Euro Area, ECB’s Rehn Says
There are better ways than yield curve control to achieve favorable financing conditions in the euro area, given the differences between its 19 member states, according to European Central Bank Governing Council member Olli Rehn.
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Macaroni Pie Is a Rich Treat to Help Tackle Those January Blues
British chef Mark Hix discovered this dish on visit to Barbados.
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Orange Sells 50% of Fiber Unit, Giving It $3.3 Billion Valuation
Orange agreed to sell a 50% stake in Orange Concessions to a group of French investors in a deal valuing the fiber-optic network operator at 2.7 billion euros ($3.3 billion.)
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Thailand Approves AstraZeneca: Southeast Asia Vaccine Tracker
AstraZeneca Plc’s vaccine won approval from Thailand, becoming the third company to clear regulatory requirements for use in Southeast Asia.
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Sunak’s Tax Choices to Fix U.K. Debt Range From Wealth to Fuel
The U.K. is still in the grip of the coronavirus crisis, but political speculation is already rife on how the country will manage the ballooning debt it has run up to fight the pandemic.
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EU Plants Flag With Social Bonds in Defining Year of Debt Sales
The European Union, set to become one of the largest issuers of green and sustainable bonds, will sell debt for the first time in 2021 off the back of record-breaking demand last year.
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Jailed Putin Foe Navalny Rallies Supporters Despite Crackdown
Supporters of jailed opposition leader Alexey Navalny are preparing to protest in dozens of Russian cities Saturday against his imprisonment, defying official threats of a harsh crackdown.
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Crisis Lessons Trigger Post-Covid Austerity Warning From OECD
Governments should avoid an early return to austerity if they want to prevent a repeat of the political tension that followed the global financial crisis, according to a senior official at the OECD.
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Australia New Trade Minister Says U.K., EU Trade Deals Priority
Australia’s trade priority is to seal deals with the European Union and the U.K., which would give the country access to 500 million consumers, new Trade Minister Dan Tehan said.
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McGraw Hill Textbook Authors Are Ready to Rumble Over Royalties
McGraw Hill LLC was sued by textbook authors who claim the company has slashed their royalties by unilaterally revising the rules for how they get paid for online versions of their work.Three of the authors filed a proposed class-action lawsuit against the publisher Friday, saying the new rules violate the terms of their contracts and will reduce their royalties by 25% to 35%.The change involves the way the authors are paid for sales of textbooks and related study materials on McGraw Hill’s onli
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KKR-Owned Vitamin-Maker Bountiful Prepares for 2021 IPO
The Bountiful Co., a nutritional supplements maker owned by private equity firm KKR & Co., is preparing to go public as soon as this year, according to people with knowledge of the matter.
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Biden Speaks to Leaders of Mexico and Canada on Trade, Migration
In a nod to continental cooperation, Biden’s first conversation was with Canadian Prime Minister Justin Trudeau and then Mexican President Andres Manuel Lopez Obrador. Biden and Trudeau, according to the Canadian government’s account of their phone call, agreed to meet next month.
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Japan Still Has Mountain to Climb Before It Can Lift Emergency
Japan is halfway through its second state of emergency, with officials set to examine the effectiveness of the measure in the coming week.
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To Revive Manhattan, Wall Street Offers Help With Vaccinations
Wall Street is getting antsy again to bring back New York workers and reinvigorate a battered city.
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China Adopts Law Letting Coast Guard Fire on Foreign Vessels
China’s passed a controversial law that gives the coast guard more freedom to fire on foreign vessels, a move that could fuel the risk of military miscalculation in the Western Pacific.
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Tesla Claims Engineer Stole Secrets Just Three Days on the Job
A former Tesla Inc. software engineer was ordered to appear before a judge to face allegations that three days into his job, he started stealing confidential files and transferring them to a personal storage account.During his two-week employment ending Jan. 6, Alex Khatilov stole more than 6,000 scripts, or files of code, that automate a broad range of business functions, Tesla argues in its trade-secret theft complaint.Tesla convinced U.S. District Judge Yvonne Gonzalez Rogers that the threat
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U.S. Indicts Three Over Scheme to Exploit Iraq Refugee Program
The U.S. Justice Department charged three people in a scheme to steal confidential data for about 1,500 Iraqis seeking refuge in the U.S. and help coach them through the interview process, according to an indictment unsealed Friday.
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Cancelled Keystone XL Pipeline May Yield 48,000 Tons of Scrap
The scrapping of Keystone XL not only means the end of multibillion-dollar pipe dream for TC Energy Corp. -- it also leaves behind 48,000 tons of steel.
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Pipeline Giants’ Houston Oil Futures Seen Launching in Months
A new futures contract for the physical delivery of crude in the Houston area may only be a few months away from launching.
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‘Unstoppable’ Luxury Stocks Remind Some Investors of U.S. Tech
The coronavirus pandemic is still raging throughout large parts of the world and China is facing a resurgence of the outbreak, yet investors keep pushing luxury-goods stocks higher, undeterred by near-record valuations.
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Apollo Talks to Acquire Orbia’s Vinyl Business Collapse
Apollo Global Management Inc.’s talks to acquire the vinyl business of Orbia Advance Corporation SAB de CV, the conglomerate formerly known as Mexichem, have collapsed, according to people with knowledge of the matter.
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QAnon Follower Claimed ‘World War 3’ Coming Before Capitol Riot
A QAnon adherent who was under investigation by the FBI sent messages last month saying that “World War 3” would occur on Jan. 6, court records show, the latest indication that federal agents knew about the potential for violence in the days leading to the storming of the U.S. Capitol.
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Blizzard Absorbs Activision Studio After Dismantling Classic Games Team
Video game publisher Activision Blizzard Inc. took another step in consolidating control over division Blizzard Entertainment, which once took pride in its autonomy, by shifting a 200-person design studio to its ranks. The studio, Vicarious Visions, had been a subsidiary of Activision since 2005 and worked on franchises like Skylanders, Crash Bandicoot and Tony Hawk. It will now focus entirely on Blizzard’s franchises, including Diablo, instead of making its own games. Former Vicarious Visions s
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Mexico Antitrust Body Rules Global Banks Rigged Bond Market
Mexico’s antitrust commission is planning to fine several global banks and individual traders after ruling that they conspired to manipulate prices for peso bonds early last decade, people familiar with the matter said.
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Arguments in Trump’s Impeachment Trial to Begin Week of Feb. 8
Arguments in the impeachment trial of former President Donald Trump will begin the week of Feb. 8, giving the Senate time to continue confirming President Joe Biden’s cabinet, Senate Majority Leader Chuck Schumer said.
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Wall Street Beat: Dimon, Grantham and Threat of a Market Plunge
There’s Jamie Dimon, then there’s Jeremy Grantham.
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Singer Says Long-Term Bonds Are a ‘Senseless’ Speculative Trade
Billionaire Paul Singer has a warning for his fellow investors: 1970s-style inflation can happen again, and almost nobody is ready for it.
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Corn Prices Fall Most in 17 Months to Pace ‘Brutal’ Crop Selloff
Corn prices plunged the most in 17 months, pacing a rout in agriculture futures on escalating coronavirus woes and a rally by the dollar.
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Biden’s First Actions, Proposals Offer Little Compromise to GOP
President Joe Biden capped his first three days in the White House by signing executive actions aimed at addressing economic distress amid the coronavirus outbreak, but he has done little so far to appeal to Republicans, who are balking at his proposals for broader relief.
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U.S. Hospital Rates Fall; N.Y. Vaccines Run Short: Virus Update
President Joe Biden turned to executive action to help Americans with finances depleted by the coronavirus pandemic on Friday, as his more ambitious legislative proposals face mounting opposition on Capitol Hill. Covid-19 hospitalizations in the U.S. fell by the most ever on Thursday, the latest sign that relief may be coming to a health-care system that’s been fighting the virus for almost a year.
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Billionaire Kellner Seeks Moneta Stake to Revive Failed Merger
Billionaire Petr Kellner’s PPF Group NV is proposing to buy a stake in Moneta Money Bank AS at a premium in an attempt to revive one of the largest Czech banking mergers that fell through two years ago.
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AT&T Holds Exclusive Talks to Sell DirecTV Stake to TPG
AT&T Inc. is holding exclusive talks to sell a significant stake in DirecTV to private equity firm TPG, the latest stage of a monthslong push to unload at least part of the struggling pay-TV business, according to a person familiar with the matter.
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London New-Home Sales Slump as Covid Lockdowns Deter Investors
New-home sales in London are plummeting as lockdowns hurt demand and investors hold back from building apartments.
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Vale, Minas Gerais Narrow Gap on Dam Compensation to $2 Billion
The difference between what Brazil’s Vale SA is offering as compensation for the Brumadinho dam disaster and what the state government of Minas Gerais is seeking narrowed to 11 billion reais ($2 billion) before talks broke down on Thursday, according to a person briefed on the matter.
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Stiglitz, Negroponte Urge Biden to Back Okonjo-Iweala for WTO
Dozens of former senior U.S. government officials urged President Joe Biden to clear a path for Ngozi Okonjo-Iweala to head the World Trade Organization after the Trump administration blocked her selection.
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Morgan Stanley’s Gorman Is Top-Paid U.S. Bank CEO With $33 Million Payday
Morgan Stanley Chief Executive Officer James Gorman leaped past JPMorgan Chase & Co.’s Jamie Dimon as the best-paid CEO of a major U.S. bank.
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San Francisco’s Covid Vaccine Plan Faces Shortage, Mayor Says
San Francisco’s goal of vaccinating all residents against the coronavirus by June hinges on getting enough shots, which are currently in short supply, Mayor London Breed said.
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Chipotle CFO Sees Wage Inflation Easing Amid Pandemic
The global pandemic has alleviated upward pressure on worker pay in the U.S. and a higher federal minimum wage should be phased in rather than enacted suddenly, Chipotle Mexican Grill Inc. Chief Financial Officer Jack Hartung said.
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Deutsche Bank Board Member Schuetz Shed His Stake in the Firm
Deutsche Bank AG supervisory board member Alexander Schuetz disposed of his stake in Germany’s biggest lender in December, according to his spokesperson.
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Office Landlord Workspace Property Trust Said to Seek Capital
Workspace Property Trust, an office and industrial landlord that abandoned an effort to go public in 2018, is exploring raising fresh capital, according to people with knowledge of the matter.
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Boeing Eyes Jetliners Fueled by Waste in Race to Zero Emissions
Boeing Co. set a target of designing and certifying its jetliners to fly on 100% sustainable fuels by 2030 amid rising pressure on planemakers to get serious about climate change.
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East Coast Leads Jet Fuel Pile-Up During U.S. Air Travel Slump
Jet fuel is piling up at airports on the East Coast as the pandemic is keeping U.S. traveler traffic at less than half usual levels.
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Tech bulls look to coming earnings to remedy 'FAANG fatigue'
After lagging behind the broader market for months, the world’s largest technology stocks suddenly perked up this week ahead of earnings. All it took was a reminder from Netflix Inc. that there’s still plenty of opportunity for growth.