World
AI Summary
- Verizon announced significant layoffs, cutting over 13,000 jobs, just before the Thanksgiving holiday, raising concerns about the timing and impact on the workforce amidst economic uncertainties.
- The job market showed contradictory signals with September's payroll data exceeding forecasts while unemployment rates hit a four-year high, indicating potential underlying issues in the labor market.
- Walmart reported strong earnings and raised its guidance amid a retail environment shifting towards value shopping as consumers increasingly opt for budget-friendly options, suggesting a broader trend of economic strain impacting purchasing behavior.
- China's trade relations with the U.S. improved slightly with a surge in rare earth magnet exports, signaling a possible thaw in tensions even as experts caution about the impending regulatory changes that could challenge China's export sector.
- As the U.S. continues discussions on ending the Ukraine conflict, a draft plan perceived as unfavorable to Kyiv is drawing criticism from European allies, underscoring the complexities of international diplomacy in the region.
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ZeroHedge
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Verizon Axes 13,000 Workers Just One Week Before Thanksgiving
in 11 hours
by Tyler Durden
Verizon Axes 13,000 Workers Just One Week Before Thanksgiving Verizon CEO Dan Schulman released a public letter to the company's 100,000-person workforce on Thursday morning, revealing that more than 13,000 job cuts will begin today. The timing is optically displeasing, coming just one week before the Thanksgiving holiday. "Today, we will begin reducing our workforce by more than 13,000 employees across the organization, and significantly reduce our outsourced and other outside labor expenses," Schulman wrote in the letter. Schulman said Verizon established a $20 million Reskilling and Career Transition Fund for departing workers, focused on training, digital skills, and job placement in the
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EU's Ukraine Funding Scheme Will Trigger Lawsuits, Collapse Of Euro & Be On Grandchildren's Shoulders: Orban
an hour ago
by Tyler Durden
EU's Ukraine Funding Scheme Will Trigger Lawsuits, Collapse Of Euro & Be On Grandchildren's Shoulders: Orban Hungarian Prime Minister Viktor Orbán has issued a new warning that the European Commission (EC)-proposed new loan amount to Ukraine of 135 billion euros will end up being paid for by the grandchildren of EU country populations. "An astronomical sum that does not exist today. It simply does not exist," he began by saying. "The Brussels 'magic trick' would again be a joint European loan, a step that would guarantee that even our grandchildren would have to pay for the costs of the Russian-Ukrainian conflict," he
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Democratic Lawmakers Call On Military Members, Intelligence Community To "Refuse Illegal Orders"
2 hours ago
by Tyler Durden
Democratic Lawmakers Call On Military Members, Intelligence Community To "Refuse Illegal Orders" Authored by Jackson Richman & Joseph Lord via The Epoch Times, Six Democratic lawmakers have called on members of the military and the intelligence community to disobey “illegal orders” from the top command. A video was released on X on Nov. 18 featuring Sen. Elissa Slotkin (D-Mich.), Sen. Mark Kelly (D-Ariz.), Rep. Chrissy Houlahan (D-Pa.), Rep. Maggie Goodlander (D-N.H.), Rep. Chris Deluzio (D-Pa.), and Rep. Jason Crow (D-Colo.). Each of these lawmakers served in the military or the intelligence community. > We want to speak directly to members of the Military and
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Jobs Shocker: Sept Payrolls Print Above All Forecasts, But Unemployment Rate Hits 4 Year High
2 hours ago
by Tyler Durden
Jobs Shocker: Sept Payrolls Print Above All Forecasts, But Unemployment Rate Hits 4 Year High In our preview of today's jobs report, we showed that the range of estimates is (extremely) broad, from 105K on the upper end, to just -20K on the lower. We also said that if today's jobs number is atrocious, the Fed would once again be viewed as being behind the curve. So perhaps working in conjunction with the newly returned BLS employees, the outgoing Fed chair snuck in a pointer or two, and in an attempt to avert allegations of blowing up the economy, moments ago the
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Continuing Jobless Claims Highest In 4 Years But...
2 hours ago
by Tyler Durden
Continuing Jobless Claims Highest In 4 Years But... Finally, the spice is flowing again... Initial jobless claims dropped back near 2025 lows (220k, below expected)... However, while initial claims remain solid, continuing jobless claims drifted higher to 1.974 million Americans - the highest level since October 2021... Likely thanks to the shutdown, we note that initial jobless claims for the 'Deep Tristate' fell significantly... Now that Washington is back to work, we suspect those workers will be getting more pink slips once again. Finally, it appears jobless claims data is shrugging off the layoff announcements that have surged in recent weeks... Who do you believe? Tyler Durden Thu,
The Guardian
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Nigerian court convicts Biafran separatist leader on terrorism charges
2 hours ago
by Eromo Egbejule West African correspondent
Nigeria, AfricaJudge says Nnamdi Kanu used his Indigenous People of Biafra group to incite attacks on security officials and civilians A Nigerian court has convicted the Biafran separatist leader Nnamdi Kanu on terrorism-related charges. Judge James Omotosho said prosecutors had shown that Kanu, who also holds British citizenship, had used his Indigenous People of Biafra group (Ipob) to incite attacks on security officials and civilians in south-east Nigeria. Continue reading...
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South Africa says US boycott of G20 is ‘coercion by absentia’
2 hours ago
by Rachel Savage in Johannesburg
G20, South Africa, Trump administration, Africa, US news, World newsUS says Johannesburg meeting cannot issue final statement without its presence and that summit’s priorities ‘run counter to US policy views’ South Africa has accused the US of attempting “coercion by absentia” after Donald Trump’s administration confirmed it would boycott the G20 meeting in Johannesburg and said no final statement by G20 leaders could be issued without its presence. The US sent a note last weekend confirming none of its officials would be attending the G20 leaders’ summit on 22 to 23 November, the first to be held in Africa, and that it would not accept any declaration issued at the end
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New drug could be a breakthrough in treatment for killer TB, trial suggests
a day ago
by Kat Lay, Global health correspondent
Global health, Global development, Tuberculosis, Society, Health, World Health Organization, World news, South Africa, Africa, Infectious diseases, Science, Medical researchSorfequiline shows stronger action than existing treatments against illness that killed 1.23 million last year A new treatment for tuberculosis could boost cure rates and shorten the time needed to treat the disease by months, trial results suggest. Globally, an estimated 10.7 million people fell ill with TB last year and 1.23 million died from it. Continue reading...
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The rainforest the world forgot: the Congo basin is the second largest on Earth, so why is it being neglected?
2 days ago
by Tam Patachako
Global development, Deforestation, Amazon rainforest, Congo-Brazzaville, Trees and forests, Africa, Endangered habitats, Conservation, World news, Wildlife, Environment, Climate crisisIt is one of the world’s most vital carbon sinks, but this tropical rainforest is losing out when it comes to climate policy and funding In October 2023, leaders, scientists and policymakers from three of the world’s great rainforest regions – the Amazon, the Congo, and the Borneo-Mekong basins – assembled in Brazzaville, capital of the Republic of Congo. They were there to discuss one urgent question: how to save the planet’s last great tropical forests from accelerating destruction. For those present, the question was existential. But to their dismay, almost no one noticed. “There was very little acknowledgment that this was
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Nestlé accused of ‘risking health of babies for profit’ over added sugar in cereals sold in African countries
3 days ago
by Kat Lay global health correspondent
Global development, Global health, Nestlé, Children, Society, Food & drink industry, Obesity, Africa, World newsCampaigners say the company is contributing to rising rates of childhood obesity, while the firm says it is helping to combat malnutrition Nestlé is still adding sugar to most baby cereals sold across Africa, according to an investigation by campaigners who have accused the company of “putting the health of African babies at risk for profit”. The food firm was accused of “double standards” over the researchers’ findings, which come at a time when rates of childhood obesity are rising on the continent, prompting calls for Nestlé to remove all added sugar from baby-food products. Continue reading...
South China Morning Post
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As power balance tips to China, world needs a fairer financial system
3 hours ago
by Albert Bakhtizin
This month, the Russian Academy of Sciences completed a study assessing the comprehensive strength of 193 countries across economic, technological, demographic, military, infrastructural and other dimensions. This annual assessment of national power is conducted using advanced methods of multivariate statistical analysis. The latest results, calculated for 2025 and 2026, show the global balance of power has finally shifted from the United States towards China. Also, several regional power cores...
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Trump urges broadcast regulator to revoke ABC licences over Khashoggi query
3 hours ago
by Reuters
The White House ratcheted up its attack on ABC News Wednesday, a day after US President Donald Trump criticised an ABC News correspondent for asking Saudi Arabia’s crown prince about the 2018 killing of a Washington Post columnist. The fresh critique came as the Federal Communications Commission (FCC) said on Wednesday it was opening a review of agreements between national networks and local broadcast stations. Trump suggested the commission should move to revoke the broadcast licenses of...
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Princess Diana enters Paris waxwork museum in ‘revenge dress’
4 hours ago
by Agence France-Presse
The Grevin waxwork museum in Paris unveiled a new star attraction on Thursday: Princess Diana in the “revenge dress” she wore after public revelations about her then-husband Prince Charles’s infidelity. The Grevin Museum in central Paris, similar to Madame Tussauds in London, already has models of Charles, who is now King Charles, and his late mother, Queen Elizabeth. But Diana was a notable absentee, despite her tragic association with the city where she died in a car crash in August 1997. She...
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Trump administration warns South Africa not to issue G20 statement
4 hours ago
by Bloomberg
The US formally warned South Africa against pushing for a joint statement at this weekend’s Group of 20 summit in Johannesburg that the Trump administration is boycotting, according to a document seen by Bloomberg. The diplomatic stand-off is particularly awkward given it’s the first time the continent is hosting a G20 and South African President Cyril Ramaphosa is passing the baton to US President Donald Trump at the end of this year. Tensions between the two men came to a head at an Oval...
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Chinese rare earth magnet exports to US hit 9-month high as trade war resolves
7 hours ago
by Alice Li
China’s shipments of rare earth permanent magnets to the US surged to a nine-month high in October as the two countries engaged in a roller-coaster round of manoeuvring over export controls that led to an easing of trade tensions late last month. During the same period, exports to the European Union fell from the level recorded in September. China is the world’s largest supplier of permanent magnets – essential components in hi-tech products such as electric vehicles and defence systems – and...
New York Times
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Holiday Hiring Slows, Frustrating Job Seekers
2 hours ago
by Kailyn Rhone
Hiring and Promotion, Shopping and Retail, Labor and Jobs, Migrant Labor (Non-Agriculture), Layoffs and Job Reductions, Indeed.com, Macy's Inc, National Retail Federation, Target CorporationRetailers are adding fewer of the seasonal roles that many Americans rely on to make ends meet.
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Investors Turn to Jobs Report After Nvidia Earnings Fuel Rally
2 hours ago
by Eshe Nelson, River Akira Davis and Joe Rennison
Stocks and Bonds, Artificial Intelligence, NVIDIA Corporation, Standard & Poor's 500-Stock Index, Company Reports, Computer Chips, Far East, South and Southeast Asia and Pacific AreasA day after the chipmaker’s profit surge, Walmart raised its forecast for the year, helping to ease Wall Street’s concerns about the economy’s overall health.
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Nvidia’s Eye-Popping Profit, and Where Those Scam Calls Are Coming From
5 hours ago
by Tracy Mumford, Will Jarvis, Ian Stewart, Kate LoPresti and Alan Feuer
Frauds and Swindling, NVIDIA CorporationPlus, a surge in meat allergies caused by ticks.
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Family Affair: Commerce Secretary’s Sons Cash In on A.I. Frenzy
6 hours ago
by Eric Lipton, Michael Rothfeld, David Yaffe-Bellany and Ana Swanson
Ethics and Official Misconduct, Data Centers, Conflicts of Interest, Commerce Department, Lutnick, Howard W, Abilene (Tex), Amarillo (Tex), United States Politics and Government, Artificial Intelligence, International Trade and World Market, United States International Relations, Newmark Group Inc, BGC GroupHoward Lutnick is helping push data center projects. His family companies are profiting from them.
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C.D.C. Website No Longer Rejects Possible Link Between Autism and Vaccines
2 hours ago
by John Yoon
Vaccination and Immunization, Autism, Rumors and Misinformation, Centers for Disease Control and Prevention, Children's Health Defense, Health and Human Services Department, Kennedy, Robert F Jr, Trump, Donald JA previous version denied a link between vaccines and autism. It now echoes the doubts about that conclusion voiced by Health Secretary Robert F. Kennedy Jr.