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NewsPlexus Media January 15, 2021

Apaches object to Forest Service review of huge copper mine
The U.S. Forest Service is scheduled to release an environmental review that will pave the way to create one of the largest copper mines in the U.S., against the wishes of a group of Apaches who have been trying for years to stop the project.
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NewsPlexus Media January 15, 2021

French oil and gas company Total said it has decided to withdraw from energy association American Petroleum Institute because it disagrees on climate-related policies.
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NewsPlexus Media January 15, 2021

Stocks fall as economy's pain deepens, head for weekly loss
Stocks are falling Friday after reports showed the pandemic is deepening the hole for the economy, as Washington prepares to throw it another lifeline.
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NewsPlexus Media January 15, 2021

Retail group: holiday sales up 8.3% amid big spending shift
The nation’s largest retail trade group said Friday that holiday sales soared 8.3%, far exceeding its forecast even as the coronavirus kept shoppers away from physical stores.
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NewsPlexus Media January 15, 2021

Citigroup 4Q profit down 7%, revenue drops by 10%
Banking conglomerate Citigroup said its fourth quarter profits fell by 7%, but like its competitor JPMorgan Chase, the bank saw improvement from the darkest days of the pandemic shutdowns.
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NewsPlexus Media January 15, 2021

U.S. industrial production rose 1.6% in December, a third straight monthly gain, but remains below its pre-pandemic level.
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NewsPlexus Media January 15, 2021

Milan opens 1st fashion week with no VIP guests due to virus
Italy’s fashion chamber is opening on Friday the first Milan Fashion Week that won't have VIPS populating runway front rows, as the reality of Italy's persistent resurgence of the coronavirus has forced an all-virtual format for presenting menswear previews.
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NewsPlexus Media January 15, 2021

December wholesale prices up 0.3% with sharp jump in energy
U.S. wholesale prices rose 0.3% in December led by a the biggest jump in energy costs since June.
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NewsPlexus Media January 15, 2021

U.S. retail sales fell in December for 3rd straight month
Retail sales fell for a third straight month as a surge in virus cases kept people away from stores during the critical holiday shopping season.
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NewsPlexus Media January 15, 2021

Wells Fargo 4Q profit rose 4%, tops Street estimates
Wells Fargo had its best quarter of 2020 as its profit rose 4% in the fourth quarter of a year defined by the coronavirus outbreak.
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NewsPlexus Media January 15, 2021

Germany approves resuming Russia gas pipeline work
German authorities gave permission Friday for work to resume on a subsea pipeline bringing natural gas from Russia that's been the target of U.S. sanctions threats.
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NewsPlexus Media January 15, 2021

JPMorgan's profits jump as economy, investment bank recovers
JPMorgan Chase & Co., the nation's largest bank by assets, said its fourth quarter profits jumped by 42% from a year earlier, as the firm's investment banking division had a stellar quarter and its balance sheet improved despite the pandemic.
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NewsPlexus Media January 15, 2021

Another recession looms for UK economy as lockdowns bite
The British economy looks set to fall back into recession after official figures on Friday showed that it shrank by 2.6% month-on-month in November, when much of the country was in a second coronavirus lockdown.
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NewsPlexus Media January 15, 2021

US blacklists Xiaomi, CNOOC, Skyrizon, raising heat on China
The U.S. government has blacklisted Chinese smartphone maker Xiaomi Corp. and China’s third-largest national oil company for alleged military links, heaping pressure on Beijing in President Donald Trump’s last week in office.
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NewsPlexus Media January 15, 2021

Xi asks Starbucks' Schultz to help repair US-China ties
President Xi Jinping is asking former CEO Howard Schultz of Starbucks to help repair U.S.-Chinese relations that have plunged to their lowest level in decades amid a tariff war and tension over technology and security.
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NewsPlexus Media January 15, 2021

Petco goes public again as spending on dogs and cats soars
Petco, the pet store chain, went public again Thursday, hoping to cash in on people's obsessions with their furry pets. Petco's stock, which opened at $18 Thursday, soared 63% to close at $29.40, valuing the company at more than $6 billion. It raised $864 million after selling 48 million shares in its initial public offering. The company plans to use that money to pay off debt.
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NewsPlexus Media January 15, 2021

Google muscles up with Fitbit deal amid antitrust concerns
Google has completed its $2.1 billion acquisition of fitness-gadget maker Fitbit, a deal that could help the internet company grow even stronger while U.S. government regulators pursue an antitrust case aimed at undermining its power. Thursday's completion of the acquisition comes 14 months after Google announced a deal that immediately raised alarms. Google makes most of its money by selling ads based on information it collects about its billions of users’ interests and whereabouts. Privacy watchdogs feared it might exploit Fitbit to peer even deeper into people's lives.
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NewsPlexus Media January 15, 2021

Connecticut probing Amazon's e-book deals with publishers
Connecticut authorities are investigating whether Amazon's e-book deals with certain publishers are anticompetitive and violate antitrust laws, state Attorney General William Tong said Thursday. Tong released only a few details of the probe. He said the state attorney general's office has previous taken action against Apple and e-book publishers to protect competition in the marketplace.
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NewsPlexus Media January 14, 2021

Stocks tick up, despite dismal data, ahead of Biden speech
U.S. stocks are ticking higher Thursday, despite a dismal report on the number of layoffs sweeping the country, as investors continue to balance their hopes for a better economy ahead against its current pain.
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NewsPlexus Media January 14, 2021

UK fishers cry foul as Brexit red tape leaves catch rotting
British fishing communities were among the strongest supporters of Brexit. But now some say they face ruin because of new red tape imposed by the U.K.'s departure from the European Union.
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NewsPlexus Media January 14, 2021

Poshmark's shares soar in debut to public markets
Shares of Poshmark soared in their debut trading in the public markets Thursday, a testament to the strength of the online marketplace for second-hand goods even during a pandemic.
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NewsPlexus Media January 14, 2021

Samsung promises new phones will deliver more for less money
Samsung’s next crop of smartphones will boast bigger screens, better cameras, and longer-lasting batteries at lower prices than last year's lineup that came out just before the pandemic toppled the economy.
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NewsPlexus Media January 14, 2021

Companies push incentives to get workers vaccinated
As vaccinations continue across the U.S., some companies are offering financial incentives to encourage their workers to get the shots.
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NewsPlexus Media January 14, 2021

US unemployment claims jump to 965,000 as virus takes toll
The number of people seeking unemployment aid soared last week to 965,000, the most since late August and a sign that the resurgent virus has likely escalated layoffs.
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NewsPlexus Media January 14, 2021

A $12 billion loss for 2020, Delta is cautious in early 2021
Delta Air Lines closed the books on a disastrous 2020 with a comparatively small fourth-quarter loss, and executives expect a few more rocky months before — they hope — widespread coronavirus vaccinations and testing might salvage something of the upcoming summer travel season.
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NewsPlexus Media January 14, 2021

German economy shrank 5% in pandemic year 2020
The German economy, Europe's largest, shrank by 5% in the pandemic year 2020, ending a decade of growth as lockdowns wiped out much business and consumer activity.
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NewsPlexus Media January 14, 2021

Norwegian Air to end long-haul flights, focus on Europe
Low-cost carrier Norwegian Air Shuttle said Thursday it will focus on European destinations and close its long-haul operations as it struggles with the fallout of the coronavirus pandemic and debt restructuring.
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NewsPlexus Media January 14, 2021

France opposes foreign takeover offer for supermarket chain
France's government says it opposes the proposed 16.2 billion-euro ($19.6 billion) takeover of French supermarket chain Carrefour by Canadian convenience store group Couche-Tard.
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NewsPlexus Media January 14, 2021

Hong Kong internet firm blocked website over security law
A Hong Kong internet service provider on Thursday said it had blocked access to a pro-democracy website to comply with the city’s national security law.
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NewsPlexus Media January 14, 2021

China demands US lift Xinjiang cotton, tomato import ban
China on Thursday demanded Washington drop a ban on cotton and tomato imports from its Muslim northwest over complaints they are produced by forced labor, which a spokesman dismissed as the “lie of the century.”
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NewsPlexus Media January 14, 2021

WhatsApp growth slumps as rivals Signal, Telegram rise
Encrypted messaging apps Signal and Telegram are seeing huge upticks in downloads from Apple and Google’s app stores. Facebook-owned WhatsApp, by contrast, is seeing its growth decline following a fiasco that forced the company to clarify a privacy update it had sent to users.
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NewsPlexus Media January 14, 2021

China 2020 exports up despite virus; surplus surges to $535B
China’s exports rose in 2020 despite pressure from the coronavirus and a tariff war with Washington, boosting its politically volatile trade surplus to $535 billion, one of the highest ever reported.
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NewsPlexus Media January 14, 2021

Twitter CEO defends Trump ban, warns of dangerous precedent
Twitter CEO Jack Dorsey defended his company’s ban of President Donald Trump in a philosophical Twitter thread that is his first public statement on the subject.
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NewsPlexus Media January 14, 2021

Target continues to thrive in whirlwind retail environment
Target's strong sales streak extended through a pandemic-shrouded holiday season after a hard push online and an increased effort to provide alternatives to customers who are trying to minimize risk. The retailer reported Wednesday that online sales surged 102% between November and December. Sales at its stores opened for a least a year rose 4.2%. Customer traffic rose 4.3%, and the average amount of sales per customer rose 12.3% as they consolidated trips to different stores during the pandemic.
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NewsPlexus Media January 13, 2021

Defiance of virus dining bans grows as restaurants flounder
Indoor dining has been banned in much of Oregon for nearly two months, but one eatery 20 miles southeast of Portland was doing a booming business — and an illegal one.
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NewsPlexus Media January 13, 2021

Report: Companies donated $170M to GOP election objectors
Corporations and industry groups have donated at least $170 million in recent years to Republicans who rejected President-elect Joe Biden's victory over President Donald Trump, according to a new report by a government watchdog group.
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NewsPlexus Media January 13, 2021

Wall Street drifts, as even Treasury yields slow their rise
U.S. stocks are drifting Wednesday as Wall Street continues a pause from its big recent rally, and even Treasury yields are stalling following their rapid rise.
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NewsPlexus Media January 13, 2021

More companies pause contributions to Hawley, others
Several more companies have suspended campaign contributions to Sen. Josh Hawley in the wake of last week’s attack at the U.S. Capitol, and a political action committee of Republicans opposed to President Donald Trump is pressuring remaining Missouri donors to abandon the GOP senator.
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NewsPlexus Media January 13, 2021

Amazon seeks to keep conservative app Parler offline
Seattle-based Amazon.com, Inc. has asked a federal judge to deny a request to reinstate the cloud-service account for conservative social media network Parler, claiming Parler shrugged off police violence content on its site before and after the insurrection at the U.S. Capitol.
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NewsPlexus Media January 13, 2021

Airbnb to block, cancel DC bookings ahead of inauguration
Airbnb says it will be blocking and cancelling all reservations in the Washington, D.C. area during the week of the presidential inauguration.
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NewsPlexus Media January 13, 2021

NYC to terminate Trump contracts after Capitol insurrection
New York City will terminate business contracts with President Donald Trump after last week's insurrection at the U.S. Capitol, Mayor Bill de Blasio announced Wednesday.
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NewsPlexus Media January 13, 2021

US to block cotton from China region targeted in crackdown
The U.S. government announced Wednesday that it will halt imports of cotton and tomatoes from the Uighur region of China in its most sweeping action yet to pressure the Communist Party to stop a campaign against ethnic minorities.
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NewsPlexus Media January 13, 2021

EU court opinion leaves Facebook more exposed over privacy
Any EU country can take legal action against companies like Facebook over cross-border violations of data privacy rules, not just the main regulator in charge of the company, a top court adviser said Wednesday.
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NewsPlexus Media January 13, 2021

Sephora to fight against racial bias with an action plan
Beauty retailer Sephora plans to increase the diversity in its product offerings and offer more inclusive marketing as part of a wide-reaching plan to combat racially biased experiences and unfair treatment for its customers.
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NewsPlexus Media January 13, 2021

Visa, Plaid call off merger following antitrust pressure
Visa Inc. on Tuesday called off its planned $5.3 billion purchase of payment-processing technology company Plaid, citing the Justice Department's antitrust lawsuit filed last year to block the deal. Plaid provides the infrastructure that allows consumers and businesses to make payments directly from their bank accounts.
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NewsPlexus Media January 13, 2021

Tech giants banished Trump. Now things get complicated
As the world adjusts to a Twitter without @realdonaldtrump, the next big question is: “Now what?" Major tech platforms, long accused of giving President Donald Trump special treatment not allotted to regular users, have shown him the door in the wake of his incitement of violence by supporters at the U.S. Capitol on Jan. 6. He’s gone from Twitter, Facebook, Snapchat — even Shopify. But in many ways, booting the president was the easy part.
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NewsPlexus Media January 12, 2021

Mexico sees holiday bump in tourism amid pandemic surge
Tens of thousands of American tourists descended on Mexico's glittering Caribbean beaches at the close of 2020 and start of this year.
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NewsPlexus Media January 12, 2021

Sheldon Adelson, casino mogul and GOP power broker, dies
Sheldon Adelson, the billionaire mogul, Republican mega-donor and power broker who built a casino empire spanning from Las Vegas to China and became a singular force in domestic and international politics, has died after a long illness.
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NewsPlexus Media January 12, 2021

Stocks drift on Wall Street; Treasury yields keep rallying
U.S. stocks are drifting near their record heights Tuesday, while Treasury yields keep marching higher amid expectations that the economy will pull out of its slump after a powerful recovery sweeps the globe later this year.
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NewsPlexus Media January 12, 2021

GM charges up new unit to sell electric delivery vans, gear
The market for battery-powered delivery vehicles and equipment has so much potential that General Motors is forming a new business unit to serve it, a move that lifted the automaker’s stock to a multiyear high.
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