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Wells Fargo CEO warns of severance costs as layoffs loom

Charlie Scharf, CEO, Wells Fargo, speaks during the Milken Institute Global Conference in Beverly Hills, California on May 2, 2023. speaks during the Milken Institute Global Conference in Beverly Hills, California on May 2, 2023.  Patrick T. Fallon | Afp | Getty Images Wells Fargo CEO Charlie Scharf said Tuesday …

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Shein IPO: Lawmakers scrutinize forced labor

Lawmakers are ramping up their scrutiny of Shein after it confidentially filed to go public last week. One congressman who sits on a key committee is even threatening to pursue legislation to bar the retailer from trading if the U.S. Securities and Exchange Commission doesn’t reject its application. Rep. Blaine …

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Vietnamese companies eye U.S. IPO market amid lull in Chinese listings

A VinFast EV car on display at the New York Auto Show, April 13, 2022. Scott Mlyn | CNBC BEIJING — A new group of Asia-based companies are contemplating initial public offerings in the U.S., where international listings were once driven mostly by Chinese startups. Vietnam-based electric car company VinFast …

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Youth suicide rates rose 62% from 2007 to 2021

Young people dying by suicide has been an alarmingly frequent headline in recent years. Katie Meyer, a goalkeeper on the Stanford University women’s soccer team, died by suicide in 2022. She was 22. Ian Alexander Jr., son of actor and director Regina King, killed himself last year. He was 26. …

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Nikki Haley raises over $500,000 at event with Wall Street execs

Nikki Haley, the candidate of the Republican Party in the 2024 presidential elections in the US, delivers remarks during a Town Hall campaign event in the Lowcountry in Bluffton SC, United States on November 27, 2023. Peter Zay | Anadolu | Getty Images Former U.S. ambassador to the United Nations …

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Elon Musk’s AI startup — X.AI — files to raise $1 billion

Elon Musk speaks onstage during The New York Times Dealbook Summit 2023 at Jazz at Lincoln Center on November 29, 2023 in New York City.  Slaven Vlasic | Getty Images X.AI, an artificial intelligence startup founded by Elon Musk, has filed with the SEC to raise up to $1 billion …

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Job data suggests ‘soft landing’ may be near, say economists

Luis Alvarez | Digitalvision | Getty Images The U.S. economy inched closer to a so-called “soft landing” after a new batch of labor data, economists said. A soft landing is a good thing. It would mean the Federal Reserve has accomplished the difficult task of taming inflation without triggering a …

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Bitcoin tops $43,000 first time since April 2022

Jaap Arriens | NurPhoto | Getty Images Bitcoin is building on its upward momentum, with the flagship cryptocurrency topping $43,000 for the first time since April 2022 on Tuesday. The price of bitcoin rose nearly 4% to $43,478.00, according to Coin Metrics, extending gains from the previous day, as the …

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Oil CEO rejects fossil fuel industry to blame for the climate crisis

DUBAI, United Arab Emirates —The chief executive of UAE-based energy firm Crescent Petroleum on Tuesday claimed that blaming the oil and gas industry for the climate crisis “is like blaming farmers for obesity.” His comments come at the mid-point of the U.N.’s biggest and most important annual climate conference, with …

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IDF expands south Gaza offensive, UN stresses protections

Israeli troops and tanks gather near the border with the Gaza Strip on December 3, 2023, after battles resumed between Israel and Hamas militants, as clashes continue between Israel and Hamas militants on December 3, 2023.  Jack Guez | AFP | Getty Images The Israeli military is expanding its offensive …

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