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EV maker Rivian to cut 6% of jobs amid price war -internal memo

UPDATE 1-EV maker Rivian to cut 6% of jobs amid price war -internal memo Adds analyst comment, stock trading activity, market cap By Abhirup Roy and Akash Sriram SAN FRANCISCO, Feb 1 (Reuters) - Rivian Automotive RIVN.O is laying off 6% of its workforce in an effort to cut costs as the EV maker, already grappling with falling cash reserves and a weak economy, braces for an industry-wide price war.
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Tinder owner to lay off 8% of its staff as growth falters

UPDATE 3-Tinder owner to lay off 8% of its staff as growth falters Adds comment from Match Group and background, updates shares By Vansh Agarwal and Shreyaa Narayanan Feb 1 (Reuters) - Match Group Inc MTCH.O on Wednesday joined a growing list of U.S. companies that are cutting jobs to rein in costs after it announced plans to lay off about 8 % of its workforce, or about 200 employees, as spending on its dating apps slow s.
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FedEx to cut senior jobs as part of larger staff reduction

UPDATE 3-FedEx to cut senior jobs as part of larger staff reduction Adds CEO comment By Lisa Baertlein LOS ANGELES, Feb 1 (Reuters) - FedEx Corp FDX.N on Wednesday said it would cut its officer and director ranks by more than 10% as part of a broad cost-reduction effort that has reduced staffing at the delivery giant by 12,000 workers since June, a spokeswoman said.
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Stocks dip, dollar falls as Fed decision looms

GLOBAL MARKETS-Stocks dip, dollar falls as Fed decision looms ADP employment softer than expected All eyes on Fed announcement Updates to open of U.S. markets, changes byline, dateline; previous LONDON By Chuck Mikolajczak NEW YORK, Feb 1 (Reuters) - A gauge of global stocks dipped on Wednesday while the U.S. dollar and Treasury yields fell after economic data showed signs of a softening labor market and boosted hopes a pause to the Federal Reserve's interest rate-hiking cycle could be on the ho
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EV maker Rivian to cut 6% of jobs amid price war -internal memo

EXCLUSIVE-EV maker Rivian to cut 6% of jobs amid price war -internal memo By Abhirup Roy and Akash Sriram SAN FRANCISCO, Feb 1 (Reuters) - Rivian Automotive RIVN.O is laying off 6% of its workforce in an effort to cut costs as the EV maker, already grappling with falling cash reserves and a weak economy, braces for an industry-wide price war. The company is focusing resources on ramping up vehicle production and reaching profitability, Chief Executive R.J.
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Peloton shares soar as turnaround plan shows promise

UPDATE 4-Peloton shares soar as turnaround plan shows promise Updates shares By Priyamvada C Feb 1 (Reuters) - Peloton Interactive Inc PTON.O on Wednesday forecast current-quarter revenue above expectations, in an early sign that its efforts to boost sales, including by selling on third-party platforms, were beginning to yield fruit. Shares of the fitness equipment maker jumped as much as 22.4% after it also reported a slowing cash burn on a string of cost-cutting measures.
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A quart and two halves

MORNING BID-A quart and two halves A look at the day ahead in U.S. and global markets from Mike Dolan. After a heady January brew, investors now see triples all round. Global stock markets .MIWD00000PUS put in their best January in four years, with Wall St's tech-heavy Nasdaq .IXIC clocking its biggest January gains since 2001, but now face three tense days to assess how durable that is.
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EU may miss gigabit target, more investments needed, telecoms group says

EXCLUSIVE-EU may miss gigabit target, more investments needed, telecoms group says Updates with background, context, quotes By Foo Yun Chee BRUSSELS, Feb 1 (Reuters) - The European Union risks missing its target to connect all European households to a gigabit network by 2030, underscoring the need for more investments, according to a study commissioned by telecoms lobbying group ETNO.
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EU may miss gigabit target, more investments needed, telcoms group says

EXCLUSIVE-EU may miss gigabit target, more investments needed, telcoms group says By Foo Yun Chee BRUSSELS, Feb 1 (Reuters) - The European Union risks missing its target to connect all European households to a gigabit network by 2030, underscoring the need for more investments, according to a study commissioned by telecoms lobbying group ETNO. The study by Analysys Mason comes as the bloc considers the possibility of getting Alphabet Inc's Google GOOGL.O , Meta META.O , Amazon.com Inc AMZN.O , N
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Polish competition watchdog accuses Amazon EU of misleading consumers

UPDATE 2-Polish competition watchdog accuses Amazon EU of misleading consumers Adds company's comment GDANSK, Feb 1 (Reuters) - Poland's competition watchdog has accused e-commerce giant Amazon's AMZN.O European arm of misleading sales and delivery practices, the Office of Competition and Consumer Protection (UOKiK) said on Wednesday. The office said consumers on Amazon's Polish website were misled as to the moment a sales contract is concluded, product availability, delivery times and consumer
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Polish competition watchdog accuses Amazon EU of misleading consumers

Polish competition watchdog accuses Amazon EU of misleading consumers GDANSK, Feb 1 (Reuters) - Poland's competition watchdog has accused e-commerce firm Amazon's AMZN.O European unit of misleading sales and delivery practices, the Office of Competition and Consumer Protection (UOKiK) said on Wednesday. The office said consumers on Amazon's Polish website were misled as to the moment a sales contract is concluded, product availability, delivery times and consumer rights, which if proven could re
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End of easy-cash era is going to hurt

GRAPHIC-End of easy-cash era is going to hurt LONDON, Feb 1 (Reuters) - The end of the easy-cash era is over and its impact yet to be felt on world markets, hopeful that the pain of aggressive rate hikes and high inflation has passed. U.S. and UK central banks are unwinding stimulus further by offloading bonds they hold, and the European Central Bank will join them soon .
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Wall Street Journal - Feb 1

PRESS DIGEST - Wall Street Journal - Feb 1 Feb 1 (Reuters) - Following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy. - Nikki Haley, a former South Carolina governor and U.S. ambassador to the United Nations, intends to launch a White House bid Feb. 15, according to a person familiar with her plans, challenging former President Donald Trump for the 2024 Republican presidential nomination.
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New York Times business news - Feb 1

PRESS DIGEST- New York Times business news - Feb 1 Feb 1 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy. - Officials from the United States and India agreed to expand cooperation on advanced weaponry, supercomputing, semiconductors and other high-tech fields, as the Biden administration looks to strengthen its connections with Asian allies and offset China's dominance of cutting-edge
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Fed games

MORNING BID-Fed games By Stephen Culp Feb 1 (Reuters) - A look at the day ahead in markets from Stephen Culp, New York stock market reporter. Asian stocks are primed for a green Wednesday on the heels of a broad rally on Wall Street, as a slew of economic data suggested the Federal Reserve's restrictive monetary policy is working as directed. All three major U.S.
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Stocks gain, yields dip after U.S. data; Fed eyed

GLOBAL MARKETS-Stocks gain, yields dip after U.S. data; Fed eyed U.S. Federal Reserve policy decision awaited ECB, BoE policy announcements due Thursday MSCI index set for biggest January pct gain since 2019 U.S. labor costs growth slows in Q4 Updates with close of U.S. markets, oil settlement prices By Chuck Mikolajczak NEW YORK, Jan 31 (Reuters) - A gauge of global stocks advanced on Tuesday as it closed out a strong month while U.S.
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Wall St gains over 1% after encouraging inflation data with Fed next

US STOCKS-Wall St gains over 1% after encouraging inflation data with Fed next For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window. Nasdaq posts biggest January gain since 2001 U.S. labor cost growth slows in fourth quarter Exxon, UPS rise after results, Caterpillar slumps Fed decision on interest rates on Wednesday Indexes up: Dow 1.09%, S&P 500 1.46%, Nasdaq 1.67% Adds further market data By Lewis Krauskopf, Johann M Cherian and Shreyashi
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U.S. stocks take comfort in labor cost data ahead of Fed

LIVE MARKETS-U.S. stocks take comfort in labor cost data ahead of Fed Major U.S. stock indexes end higher: Nasdaq out front, up ~1.7% All major S&P sectors close green, materials gains most Dollar slips; gold, crude, bitcoin gain U.S. 10-Year Treasury yield edges down to ~3.5% Welcome to the home for real-time coverage of markets brought to you by Reuters reporters.
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Wall St gains after encouraging inflation data with Fed next

US STOCKS-Wall St gains after encouraging inflation data with Fed next For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window. U.S. labor cost growth slows in fourth quarter McDonald's, Caterpillar slip after earnings Exxon, GM, UPS rise after their results Fed decision on interest rates on Wednesday Recasts with close of U.S.
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Stocks up, yields dip after U.S. data; Fed on deck

GLOBAL MARKETS-Stocks up, yields dip after U.S. data; Fed on deck U.S. Federal Reserve policy decision awaited ECB, BoE policy announcements due Thursday MSCI index on pace for biggest January pct gain since 2019 U.S. labor costs growth slows in Q4 Adds close of European markets By Chuck Mikolajczak NEW YORK, Jan 31 (Reuters) - A gauge of global stocks rose on Tuesday while U.S.
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