business

AWS faces cost-sensitive customers at Reinvent as economic fears mount

Amazon Web Services has been the biggest growth engine for its parent company over much of the past decade, taking business from some of the largest tech vendors in the world. But as corporations face the most daunting economic environment since the 2008 financial crisis, those massive checks they’re writing to AWS for their tech …

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As viruses respiratory strain US health care systems, Biden administration tells states how it’s ready to help

CNN — Nearly 20,000 people in the United States were admitted to the hospital for flu last week, almost double the number of admissions from the week before, according to data updated Friday by the US Centers for Disease Control and Prevention. The CDC estimates that there have been at least 8.7 million illnesses, 78,000 …

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United Furniture owner David Belford ‘disappeared’ after firing 2,700 workers

The owner of United Furniture Industries — which last week fired 2,700 workers through texts and emails while they slept — has disappeared after squabbling with the company’s board and bankers over whether to file for bankruptcy, The Post has learned. David Belford, a wealthy Ohio businessman, has kept mum since the layoffs of his …

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CNN’s chief outlines changes to network after layoffs, including end of live programming on HLN

New York CNN Business — CNN on Thursday executed sweeping layoffs and implemented a series of changes that impacted multiple divisions across the news organization, including ending live programming on HLN, the company’s chief executive, Chris Licht, said in a memo to employees. “The changes we are making today are necessary and will make us …

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Powell’s inflation remarks a ‘green light’ to stay in stocks

CNBC’s Jim Cramer on Thursday said Federal Reserve Chair Jerome Powell’s inflation remarks the day before confirmed that inventors shouldn’t exit the market over recession fears. “Unless the super hawkish Fed heads who want to raise short rates to 5% to 7% are silenced, we must be ready with a quarter of one foot out …

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Belarus dissident Maria Kolesnikova in intensive care following surgery, opposition spokesman says

CNN — A prominent Belarusian opposition figure, who has been serving an 11-year prison sentence after leading mass street protests against President Alexander Lukashenko, is in intensive care after undergoing surgery, an opposition spokesman said Tuesday. Maria Kolesnikova was taken to a hospital in the southeastern city of Gomel, placed in a surgical ward and …

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BBC journalist ‘beaten and kicked by the police’ as protests spread across China

CNN Business — Edward Lawrence, a journalist at the BBC, was arrested by police in Shanghai at the scene of protests on Sunday night, according to the BBC and as captured on what appears to be mobile phone footage of the arrest. While he has since been released, a BBC spokesperson has expressed extreme concern …

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RBC to buy HSBC’s Canadian unit for $13.5-billion in biggest domestic banking deal on record

Royal Bank of Canada RY-T is buying HSBC Bank Canada for $13.5-billion in cash in the largest deal ever reached between two domestic banks in the country. The transaction, which is subject to regulatory and government approvals, would see RBC consolidate its position as Canada’s largest bank. The purchase price represents a multiple of 9.4 …

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US and China in first South China Sea encounter since Xi-Biden meeting

Seoul, South Korea CNN — The United States and Chinese militaries exchanged harsh words Tuesday after a US Navy warship performed the first freedom of navigation operation (FONOP) in the South China Sea since the leaders of the two powers met earlier this month in an attempt to ease tensions. In a statement, the Chinese …

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