Russia said it will cut oil output by 500,000 barrels a day next month, following through on a threat to retaliate against western sanctions and sending oil prices sharply higher.
The output reduction, which is the equivalent of about 5% of January output, has been hinted at repeatedly by the Kremlin since the European Union and G-7 began discussing capping the price of Russian exports. T…
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Less than a month after the stunning collapse of the crypto exchange FTX, Congress held its first hearing on Thursday on what Washington should do amid the fallout. Senators called for swift legislative action to safeguard consumers but many disagreements still exist over the shape of those actions. Debates will likely continue for months on how, exactly, crypto should be regulated in the U.S. …
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Facebook’s civic-integrity team was always different from all the other teams that the social media company employed to combat misinformation and hate speech. For starters, every team member subscribed to an informal oath, vowing to “serve the people’s interest first, not Facebook’s.”
The “civic oath,” according to five former employees, charged t…
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In a few minutes, electronic music will start pulsing, stuffed animals will be flung through the air, women will emerge spinning Technicolor hula hoops, and a mechanical bull will rev into action, bucking off one delighted rider after another. It’s the closing party of ETHDenver, a weeklong cryptocurrency conference dedicated to the blockchain Ethereum. Lines have stretched around the blo…
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Netflix, the streaming company that once tweeted “Love is sharing a password,” has begun cracking down on password sharing in the United States, as it looks to increase revenue in what has become a saturated streaming market.
The company has previously said that more than 100 million subscribers worldwide access Netflix through password sharing and revealed in April 2022 that…
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In 2023, TIME will once again recognize 100 businesses making an extraordinary impact around the world. Applications for the TIME100 Most Influential Companies of 2023 are open, now through March 1, 2023. Apply here.
Hello from the Swiss Alpine town of Davos, where scores of political power brokers and corporate executives—plus a fair few experts, activists, and journalists…
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As the World Economic Forum’s (WEF) 53rd annual meeting in Davos, Switzerland kicked off Monday, the World Trade Organization’s (WTO) director-general Ngozi Okonjo-Iweala and the International Monetary Fund’s (IMF) managing director Kristalina Georgieva urged leaders not to let the global polycrisis distract from the urgent need for greater cooperation.
“I see the …
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People walk past a Best Buy store in Manhattan, New York City, November 22, 2021.Andrew Kelly | Reuters
Best Buy surpassed Wall Street's revenue and earnings expectations for the holiday quarter on Thursday, even as the company navigated through a period of tepid consumer electronics demand. Read more
A HomeGoods shopping cart area in front of a T.J. Maxx store in Pinole, California, US, on Wednesday, May 3, 2023.David Paul Morris | Bloomberg | Getty Images
TJX Cos. on Wednesday said holiday sales jumped 13% as shoppers hunting for deals flocked to the off-price retailer.
Despite the stron…
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watch nowVIDEO3:1803:18NYCB deposits a flight risk? Here's what to knowSquawk Box
Regional lender New York Community Bank may have to pay more to retain deposits after one of the company's key ratings was slashed for the second time in a …
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