NEWS1

US labor market shrugs off recession fears; keeps Fed on tightening path

Nonfarm payrolls increase 263,000 in November Unemployment rate steady at 3.7%; participation rate falls Average hourly earnings rise 0.6%; up 5.1% year-on-year WASHINGTON, Dec 2 (Reuters) – US employers hired more workers than expected in November and increased wages, shrugging off mounting worries of a recession, but that will probably not stop the Federal Reserve …

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Musk delivers the first Tesla truck, but no update on output, pricing

Tesla ships first Semi to PepsiCo five years after its unveiling No details on orders or capacity for electric trucks Semi uses existing Tesla motors, to feature a new Supercharger Dec 1 (Reuters) – Tesla Inc (TSLA.O) Chief Executive Elon Musk delivered the company’s first heavy-duty Semi on Thursday to PepsiCo (PEP.O) without offering updated …

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Blackstone’s $69 bln REIT curbs redemptions in blow to property empire

NEW YORK, Dec 1 (Reuters) – Blackstone Inc (BX.N) limited withdrawals from its $69 billion unlisted real estate income trust (REIT) on Thursday after a surge in redemption requests, an unprecedented blow to a franchise that helped it turn into an asset management behemoth. The curbs came because redemptions hit pre-set limits, rather than Blackstone …

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EU tentatively agrees $60 price cap on Russian seaborne oil

BRUSSELS, Dec 1 (Reuters) – European Union governments tentatively agreed on Thursday on a $60 a barrel price cap on Russian seaborne oil – an idea of ​​the Group of Seven (G7) nations – with an adjustment mechanism to keep the cap at 5% Below is the market price, according to diplomats and a document …

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Wall Street mixed; Dow pressured by selloff in Salesforce shares

Salesforce drops on co-CEO exit plan Dollar General falls on slashing annual profit view US manufacturing shrinks for the first time in 2-1/2 years in Nov Indexes: S&P 500 -0.09%, Nasdaq +0.14%, Dow -0.59% Dec 1 (Reuters) – Wall Street was mixed on Thursday as a selloff in Salesforce weighed on the Dow, while traders …

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Elon Musk expects Neuralink’s brain chip to begin human trials in 6 months

Nov 30 (Reuters) – Elon Musk said on Wednesday he expects a wireless brain chip developed by his company Neuralink to begin human clinical trials in six months, after the company missed earlier timelines set by him. The company is developing brain chip interfaces that it says could help disabled patients move and communicate again, …

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Sam Bankman-Fried says he ‘didn’t ever try to commit fraud’

NEW YORK, Nov 30 (Reuters) – Sam Bankman-Fried, the founder and former CEO of now-bankrupt crypto exchange FTX, attempted to distance himself from suggestions of fraud in his first public appearance since his company’s collapse stunned investors and left creditors facing losses totaling billions of dollars. Speaking via video link at the New York Times’ …

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Fed’s Powell: Rate hikes to slow, but adjustment just beginning

Nov 30 (Reuters) – Federal Reserve Chair Jerome Powell on Wednesday said it was time to slow the pace of coming interest rate hikes while also signaling a protracted economic adjustment to a world where borrowing costs will remain high, inflation comes down slowly and the United States States remain chronically short of workers. In …

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COVID hit HIV detection in Europe threatens eradication progress

LONDON, Nov 30 (Reuters) – The number of people in Europe with undiagnosed HIV has risen as testing rates fell during the COVID-19 pandemic, threatening a global goal of ending the disease by 2030, a report said. The joint World Health Organization (WHO) and European Center for Disease Prevention and Control (ECDC) report said that …

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Dow dips ahead of Powell speech; Nasdaq kept afloat by growth stocks

Tesla up as sales in China nearly doubled in November – data Fed Chair Powell’s speech at 1330 ET (1830 GMT) US private payrolls growth slows in November – ADP Dow down 0.47%, S&P off 0.13%, Nasdaq up 0.26% Nov 30 (Reuters) – Wall Street was mixed on Wednesday, with the Dow and S&P 500 …

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