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SMIC Q2 2023 earnings report

BEIJING, CHINA – DECEMBER 04: A logo hangs on the building of the Beijing branch of Semiconductor Manufacturing International Corporation (SMIC) on December 4, 2020 in Beijing, China. (Photo by VCG/VCG via Getty Images) Vcg | Visual China Group | Getty Images Semiconductor Manufacturing International Corp. posted on Thursday a …

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Veteran economist Jim O’Neill says interest rates should stay around 5% for longer

Jim O’Neill, former chief economist Goldman Sachs Group, in Italy in 2019. Alessia Pierdomenico | Bloomberg via Getty Images Veteran economist Jim O’Neill says central banks will need to keep interest rates up around 5% across major economies for longer than the market expects, even as inflation subsides. The U.S. …

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Wegovy-maker Novo Nordisk raises outlook as sales of its weight-loss drug soar

A selection of injector pens for the Saxenda weight loss drug are shown in this photo illustration in Chicago, Illinois, U.S., March 31, 2023.  Jim Vondruska | Reuters Novo Nordisk, which makes the weight-loss drug Wegovy, raised its outlook for 2023 Thursday, as it reported soaring sales. The Danish pharmaceutical …

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China lifts ban on group travel boosting Asia’s tourism, hotel stocks

Top view of Seoul in the morning in autumn 2016. Natthapol Bussai | Moment | Getty Images China lifted a ban on group tours to more than 70 locations, giving travel and airline stocks in Asia a boost. China’s culture and tourism ministry said Thursday that group tours will resume …

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UPS drivers to average $170,000 in pay, benefits at end of 5-year deal

A UPS driver pulls away after making a delivery in Washington, D.C. Andrew Harrer | Bloomberg | Getty Images UPS‘ CEO said drivers will average $170,000 in pay and benefits such as health care and pensions at the end of a five-year contract that the delivery giant struck with the …

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Panama Canal shipping pileup due to drought reaches 154 vessels

A ship navigates through the Panama Canal in the area near the Americas’ Bridge in Panama City on April 24, 2023. The scarcity of rainfall due has forced the Panama Canal to reduce the draft of ships passing through the interoceanic waterway, in the midst of a water supply crisis …

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Obesity drug Wegovy’s trial result could ‘open up’ health insurance access

A selection of injector pens for the Wegovy weight loss drug are shown in this photo illustration in Chicago, Illinois, March 31, 2023. Jim Vondruska | Reuters LONDON — Popular weight-loss drug Wegovy could be made available under more health insurance schemes, after the results of a late-stage trial pointed …

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WeWork warns of remaining ‘going concern’ and says bankruptcy possible

29 July 2023, Australia, Sydney: The logo of “Wework,” a company that offers office space and coworking spaces for the self-employed and businesses, lights up downtown in front of skyscrapers. Sebastian Christoph Gollnow | Picture Alliance | Getty Images Four years ago WeWork was preparing for a blockbuster IPO. Now …

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Indian automaker Mahindra says its unfazed by EV competitors like Tesla

Mahindra atom electric car at Auto Expo 2020, on February 5, 2020, in Greater Noida, India. Pradeep Gaur | Mint | Hindustan Times | Getty Images Mahindra Group isn’t worried about global players like Tesla entering India’s highly competitive electric vehicle market, its CEO and managing director Anish Shah told …

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Elon Musk’s X aims to win back advertisers, signs deal with IAS

Harun Ozalp | Anadolu Agency | Getty Images The company formerly known as Twitter is betting that a new ad-tech partnership and enhanced safety tools for brands will lure back advertisers who departed in the months since Elon Musk purchased the company. X, as Musk renamed the company, said on …

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