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Layoffs pile up in US, Canada as companies uncertain of economy

FACTBOX-Layoffs pile up in US, Canada as companies uncertain of economy Updates headline, recasts first paragraph June 12 (Reuters) - Companies in the U.S. and Canada have continued their job cuts in 2024 after letting go thousands last year, as the outlook on interest rate cuts by the Federal Reserve remains uncertain even as recession fears recede rapidly.
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US, Canadian companies kick off 2024 with layoffs

FACTBOX-US, Canadian companies kick off 2024 with layoffs Adds FedEx layoffs June 12 (Reuters) - Companies in the United States and Canada have extended their job cuts into 2024 after letting go thousands last year, as the outlook on interest rate cuts by the Federal Reserve remains uncertain even as recession fears recede rapidly. Here is a snapshot of job cuts announced so far this year: TECHNOLOGY * Amazon's AMZN.O job cuts include less than 5% of employees at Buy with Prime unit , 5% at audi
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Yext drops after Q1 results miss estimates

BUZZ-Yext drops after Q1 results miss estimates ** Shares of data management company Yext YEXT.N fall 17.6% to $4.15 premarket ** Company reports Q1 revenue of $95.9 mln below analysts' estimate of $96.3 mln - LSEG data ** Posts quarterly adj. earnings of 5 cents/shr, missing analysts' expectations of 6 cents ** Forecasts FY25 revenue between $394 mln and $396 mln, also below estimate of $400 mln - LSEG data ** Sees FY adj.
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OpenAI hires former Nextdoor CEO Sarah Friar as first CFO

UPDATE 2-OpenAI hires former Nextdoor CEO Sarah Friar as first CFO Adds details from statement in paragraphs 3-4, background from paragraph 5 onwards June 10 (Reuters) - OpenAI said on Monday it had hired Sarah Friar, the former CEO of social media firm Nextdoor KIND.N , as its first chief financial officer. The artificial intelligence firm has also appointed Kevin Weil, who has previously worked at Twitter, Facebook and Instagram, as chief product officer.
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Wall Street mixed as Nvidia retreat hits tech stocks; payrolls data in focus

US STOCKS-Wall Street mixed as Nvidia retreat hits tech stocks; payrolls data in focus For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window. Weekly jobless claims rise more than expected Nvidia falls after crossing $3 trillion market cap on Wednesday Nio falls after logging Q1 net loss Lululemon up on topping quarterly estimates on China demand Indexes: Dow up 0.05%, S&P down 0.09%, Nasdaq down 0.12% Updated at 12:08 p.m.
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Wall Street mixed as tech stocks retreat; labor data lifts rate cut hopes

US STOCKS-Wall Street mixed as tech stocks retreat; labor data lifts rate cut hopes For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window. Weekly jobless claims rise more than expected Nvidia falls after crossing $3 trillion market cap on Wednesday Nio falls after logging Q1 net loss Lululemon up on topping quarterly estimates on China demand Indexes: Dow up 0.32%, S&P flat, Nasdaq down 0.15% Updated at 10:05 a.m.
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Salesforce to open first AI centre in London

Salesforce to open first AI centre in London LONDON, June 6 (Reuters) - Salesforce CRM.N has picked London for its first AI centre, where it said industry experts, developers and customers will be able to collaborate on innovation and develop new skills. The U.S. cloud software company, which is hosting 18,000 people at its annual London World Tour event on Thursday, said a year ago it would invest $4 billion in Britain in the next five years, including in artificial intelligence innovation.
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Slalom And Salesforce Expand Partnership To Unleash The Power Of Data For Customers’ Ai Transformation

BRIEF-Slalom And Salesforce Expand Partnership To Unleash The Power Of Data For Customers’ Ai Transformation June 6 (Reuters) - SLALOM AND SALESFORCE EXPAND PARTNERSHIP TO UNLEASH THE POWER OF DATA FOR CUSTOMERS’ AI TRANSFORMATION Source text for Eikon: ID:nGNXbnsGNv Further company coverage: CRM.N
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European regulators crack down on Big Tech

FACTBOX-European regulators crack down on Big Tech Updates EU, Italy, Spain sections June 5 (Reuters) - European regulators have launched a series of probes into Big Tech. In a latest move, Meta's Facebook and Instagram could face hefty fines under the EU's Digital Services Act (DSA) due to concerns they had not adequately addressed risks to children.
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Nvidia and Salesforce double down on AI startup Cohere in $450 million round, source says

Nvidia and Salesforce double down on AI startup Cohere in $450 million round, source says By Krystal Hu June 4 (Reuters) - Canadian AI startup Cohere has raised $450 million in funding from returning investors such as Nvidia NVDA.O and Salesforce Ventures CRM.N , as well as new investors including Cisco CSCO.O and Canadian pension fund PSP Investments, according to a source familiar the matter.
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Microsoft takes its AI push to customer service call centers

Microsoft takes its AI push to customer service call centers By Stephen Nellis June 4 (Reuters) - Microsoft MSFT.O on Tuesday said it will introduce new artificial intelligence tools for customer service call centers. Microsoft, which has backed ChatGPT creator OpenAI, is taking AI technology into a number of fields of the business world with what it calls Copilot technology, which is capable of summarizing emails and crafting PowerPoint slides as part of the company's Office software package.
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Microsoft to take more steps to resolve EU concerns about Teams, Smith says

UPDATE 1-Microsoft to take more steps to resolve EU concerns about Teams, Smith says Adds more Smith comments, details By Foo Yun Chee BRUSSELS, June 4 (Reuters) - Microsoft MSFT.O expects to take additional steps to resolve an EU antitrust investigation into its chat and video app Teams which is part of its Office product, even as it seems likely to get EU charges in the case, its President Brad Smith said on Tuesday.
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Microsoft to lay off hundreds at Azure cloud unit, Business Insider reports

UPDATE 3-Microsoft to lay off hundreds at Azure cloud unit, Business Insider reports Adds Microsoft's comment in paragraph 3 June 3 (Reuters) - Microsoft MSFT.O is cutting hundreds of jobs at its Azure cloud unit, Business Insider reported on Monday, adding to a flurry of layoffs seen in the technology and media industries this year. The layoffs will impact teams including Azure for Operators and Mission Engineering, according to the report.
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Hedge funds ditch shares as bullish bets hurt performance, says Morgan Stanley

HEDGE FLOW-Hedge funds ditch shares as bullish bets hurt performance, says Morgan Stanley By Carolina Mandl NEW YORK, June 3 (Reuters) - Global hedge funds dumped equities last week, in a painful week for their portfolios as the U.S. main indexes fell and hit their long bets, Morgan Stanley MS.N said in a note. The bank described last week as "ultimately one of the more challenging we have seen in recent months for the average L/S fund," or long/short fund, based on what they saw in their client
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Boston Beer falls after Suntory denies acquisition talks

BUZZ-Boston Beer falls after Suntory denies acquisition talks ** Shares of U.S.-based brewer Boston Beer SAM.N down 11.1% at $278.82 in premarket trade ** Japanese whisky-maker Suntory Holdings said on June 1 that it was not in negotiations to acquire Boston Beer, a day after media report of early deal talks between the two companies ** Boston Beer, in response to report, said on Friday that it was "fully focused" on its business as an independent company and its return to growth ** Jefferies sa
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U.S. stocks weekly: Wings clipped

RPT-BUZZ-U.S. stocks weekly: Wings clipped Repeats from Friday with no changes to text. Updates chart ** S&P 500 .SPX snaps five-week win streak , dips 0.5% amid interest rate concerns .N ** Benchmark U.S. 10-Year Treasury yield US10YT=RR hits 4-week highs ahead of the Fed's preferred inflation barometer, but then on Fri reverses back below a key Fibonacci retracement line ** Nasdaq .IXIC also snaps five-week win streak, though both it, SPX, and the Dow .DJI rise for the month ** That said, as f
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U.S. stocks weekly: Wings clipped

BUZZ-U.S. stocks weekly: Wings clipped ** S&P 500 .SPX snaps five-week win streak , dips 0.5% amid interest rate concerns .N ** Benchmark U.S. 10-Year Treasury yield US10YT=RR hits 4-week highs ahead of the Fed's preferred inflation barometer, but then on Fri reverses back below a key Fibonacci retracement line ** Nasdaq .IXIC also snaps five-week win streak, though both it, SPX, and the Dow .DJI rise for the month ** That said, as for the Dow, until Fri, the force has been especially weak with
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Dow, S&P 500 edge higher after inflation rises as expected

US STOCKS-Dow, S&P 500 edge higher after inflation rises as expected US PCE inflation rises 2.7% YoY in April Dell plunges after lower current-quarter profit forecasts Trump Media falls in choppy trading after Trump conviction Indexes up: Dow 0.30%, S&P 0.31%, Nasdaq 0.16% Updated at 9:46am ET/1346 GMT By Johann M Cherian and Lisa Pauline Mattackal May 31 (Reuters) - The benchmark S&P 500 and the blue-chip Dow inched up in choppy trading on Friday, after data showed inflation rose largely in lin
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Wall St poised for slightly higher open after inflation rises as expected

US STOCKS-Wall St poised for slightly higher open after inflation rises as expected For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window. US PCE inflation rises 2.7% YoY in April Dell plunges after lower current-quarter profit forecasts Trump Media & Technology Group rises after Trump conviction Futures up: Dow 0.19%, S&P 0.34%, Nasdaq 0.32% Updated at 8:52 a.m.
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Salesforce 2.0 benefits will download soon enough

RPT-BREAKINGVIEWS-Salesforce 2.0 benefits will download soon enough The author is a Reuters Breakingviews columnist. The opinions expressed are his own. By Pranav Kiran TORONTO, May 30 (Reuters Breakingviews) - Salesforce CRM.N shareholders are struggling to process the latest updates. The software developer lost a fifth, or nearly $50 billion, of its market value on Thursday, a day after it flagged that upcoming quarterly revenue and profit would fall below what analysts were anticipating.
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