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EU heads of state stand in solidarity with Greenland following US territorial threats

European leaders have united in a show of solidarity with Greenland, rebuking U.S. President Donald Trump's renewed interest in acquiring the Arctic island. In a joint statement released Tuesday, the

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Slate Adds Cleaning Benefit After Marketing Head's LinkedIn Plea
Business1d ago

Slate Adds Cleaning Benefit After Marketing Head's LinkedIn Plea

Slate, a social media content creation platform, swiftly implemented a cleaning service stipend for employees after its head of marketing, Christina Le, suggested it on LinkedIn as a practical wellness benefit. This move, implemented within a day of Le's suggestion, demonstrates Slate's commitment to employee well-being and a responsive approach to company culture, potentially boosting employee satisfaction and productivity. The financial impact of this new benefit was not disclosed.

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World Bank: Developing World's Progress Erased; 25% Poorer Since 2019
Business3d ago

World Bank: Developing World's Progress Erased; 25% Poorer Since 2019

A World Bank report reveals that 25% of developing nations are financially worse off than pre-pandemic levels in 2019, with sub-Saharan Africa disproportionately affected. Despite growth in some nations like Nigeria (4.4%), many low-income countries, including South Africa (1.2% growth), failed to increase average incomes, signaling insufficient global growth to alleviate poverty and generate employment.

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World Bank: Developing Nations Face Post-Pandemic Poverty Surge
Business1d ago

World Bank: Developing Nations Face Post-Pandemic Poverty Surge

A World Bank report reveals that 25% of developing nations are financially worse off than pre-pandemic levels in 2019, with sub-Saharan Africa disproportionately impacted. Despite growth in some countries like Nigeria (4.4%), many, including South Africa (1.2%), failed to increase average incomes, highlighting a global growth slowdown insufficient for poverty reduction and job creation. This economic downturn underscores significant challenges for low-income nations in achieving sustainable development.

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Trump Touts Detroit Investment Amid Auto Job Losses
Business2d ago

Trump Touts Detroit Investment Amid Auto Job Losses

Despite President Trump's claims of a manufacturing revival and over $70 billion in new investments from companies like Ford, Stellantis, and GM, the auto industry has seen a decline in payrolls since Liberation Day. The manufacturing sector has shed approximately 72,000 jobs since April, indicating that increased investment is not currently translating into job creation within the automotive sector. This divergence raises concerns about the true impact of the investment surge on American workers.

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Myanmar Office Park: Epicenter of Global Scam Network
Business2d ago

Myanmar Office Park: Epicenter of Global Scam Network

Shunda Park, a scam complex in Myanmar, generated significant revenue by employing over 3,500 workers from nearly 30 countries to execute online scams. The operation, which included elements of forced labor, targeted victims globally and celebrated successful scams with rituals, highlighting the scale and profitability of the illicit business. The park's existence has negatively impacted the region's reputation.

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Leon Eyes Weight-Loss Drug Users as Growth Opportunity
Business5h ago

Leon Eyes Weight-Loss Drug Users as Growth Opportunity

Leon's boss, John Vincent, sees the rising popularity of weight loss jabs as a potential opportunity for the fast-food chain, which is undergoing restructuring after appointing administrators last month. Vincent believes Leon's existing menu of low-sugar, protein-rich dishes aligns with the dietary needs of individuals using these medications, potentially boosting the company's revenue as it aims to revive its 71 restaurants and expand into travel hubs after closing 20 high street locations. The company employs 1,000 people.

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Leon Eyes Weight Loss Drug Boom for Business Growth
Business10h ago

Leon Eyes Weight Loss Drug Boom for Business Growth

Leon's boss, John Vincent, sees the rising popularity of weight loss jabs as a business opportunity for the fast-food chain, believing their existing menu aligns with the dietary needs of those using the drugs. This comes as Leon, which employs 1,000 people across 71 restaurants, undergoes restructuring after appointing administrators and closing 20 High Street locations, with plans to expand in travel hubs. Vincent aims to revive the company by focusing on providing protein-rich, low-sugar options that cater to the evolving consumer market influenced by weight loss medications.

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Banks Fear Trump's 10% Rate Cap: Credit Card Chaos?
Business1d ago

Banks Fear Trump's 10% Rate Cap: Credit Card Chaos?

President Trump's call for a 10% cap on credit card interest rates has rattled banks, despite the unlikelihood of immediate implementation, as these fees are a major profit driver for card issuers. Bank stocks, particularly Capital One (down 7%) and Citi (down nearly 8%), have declined this week due to concerns that profitability would be impacted, potentially leading to reduced credit availability for consumers. Industry leaders argue that such a cap could backfire, raising inflation expectations and ultimately increasing rates over time.

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Leon Eyes Weight Loss Drug Boom for Growth
Business4h ago

Leon Eyes Weight Loss Drug Boom for Growth

Leon's boss, John Vincent, sees the rising popularity of weight loss jabs as a potential opportunity for the fast-food chain, which recently underwent restructuring involving administrators and the closure of 20 of its 71 restaurants. Vincent believes Leon's focus on low-sugar, high-protein dishes aligns with the dietary needs of individuals using these medications, potentially driving revenue as the company expands into locations like service stations and airports. The company employs 1,000 people.

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US Cuts Taiwan Tariffs After Chip Investment Pledge
Business1d ago

US Cuts Taiwan Tariffs After Chip Investment Pledge

The U.S. will reduce tariffs on Taiwanese goods to 15 in exchange for at least $250 billion in new direct investments from Taiwanese semiconductor and technology companies to bolster domestic chip production. This agreement, which includes tariff carve-outs for Taiwanese firms investing in the U.S., aims to mitigate supply chain risks and achieve self-sufficiency in semiconductor manufacturing, supported by substantial government subsidies and accelerated investments from industry leaders like TSMC.

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Ex-CEO Charged with $5M Embezzlement at Paul Newman Charity
Business2d ago

Ex-CEO Charged with $5M Embezzlement at Paul Newman Charity

Christopher Butler, the former CEO of The Painted Turtle, a Paul Newman-founded nonprofit camp for sick children, faces 15 felony charges for allegedly embezzling over $5 million over seven years. The alleged embezzlement from the donation-reliant camp, which provides free programs, has sparked outrage, with the Los Angeles County District Attorney vowing to hold Butler accountable for abusing his position and stealing from a vulnerable community.

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Oracle's Nashville HQ Faces Talent Hurdles Despite Lavish Perks
Business1d ago

Oracle's Nashville HQ Faces Talent Hurdles Despite Lavish Perks

Oracle is facing challenges attracting tech talent to its new Nashville "world headquarters," despite a $1.2 billion investment, a $65 million economic grant, and incentives like a 2 million-square-foot office space and a Nobu restaurant. The company, which committed to creating 8,500 jobs in Nashville, is also tied to $175 million in infrastructure improvements, recouping investment through 50% property tax reimbursements. This struggle could impact Oracle's AI innovation hub ambitions and the broader Nashville tech market.

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Deficit Paradox: Red Ink Fuels Profits, Risks Crisis
Business10h ago

Deficit Paradox: Red Ink Fuels Profits, Risks Crisis

U.S. budget deficits exceeding $2 trillion annually are significantly boosting corporate profits and stock valuations, as companies recycle government spending into shareholder returns rather than capital investments. Research Affiliates warns that reducing the $38 trillion national debt could trigger a financial crisis by removing this key driver of earnings and market inflation, particularly given the $1 trillion in debt-servicing costs. This dynamic highlights the U.S. economy's dependence on deficit spending to fuel financial markets.

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Trump's Iran Tariff: Which Nations Face the Biggest Hit?
Business3d ago

Trump's Iran Tariff: Which Nations Face the Biggest Hit?

President Trump's threat to impose a 25% tariff on nations trading with Iran intensifies economic pressure on the OPEC member, already struggling with high inflation and a devalued rial. This move could significantly impact Iran's key trading partners like China, which purchases 80% of its oil exports, and further destabilize the Iranian economy amidst ongoing protests fueled by economic hardship. The tariff aims to isolate Iran economically, potentially forcing a response from countries reliant on Iranian trade.

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Developing World's Progress Erased: 25% Poorer Since 2019
Business3d ago

Developing World's Progress Erased: 25% Poorer Since 2019

A World Bank report reveals that 25% of developing nations are financially worse off than pre-pandemic levels in 2019, with sub-Saharan Africa disproportionately impacted. Despite growth in some countries like Nigeria (4.4% last year), many, including South Africa (1.2% growth), failed to increase average incomes, highlighting insufficient global growth to alleviate poverty and create jobs. This economic downturn underscores the need for targeted interventions to support vulnerable nations.

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UK Economy Surprises: 0.3% Growth Fueled by Industry Rebound
Business1d ago

UK Economy Surprises: 0.3% Growth Fueled by Industry Rebound

The UK economy expanded by 0.3% in November, exceeding forecasts of 0.1% growth, driven by a rebound in car manufacturing, particularly at Jaguar Land Rover, and increased services activity linked to the Budget. This stronger-than-anticipated performance, following a revised 0.1% contraction in October, suggests moderate growth for the final quarter of 2025, despite ongoing economic uncertainties.

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