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Microsoft backs Australia's proposed media laws, eyes expansion

(Reuters) – Microsoft Corp said on Wednesday it fully supported proposed new laws in Australia that would force internet giants Google and Facebook Inc to pay domestic media outlets for their content. “While Microsoft is not subject to the legislation currently pending, we’d be willing to live by these rules if the government designates us,” … Read more Microsoft backs Australia's proposed media laws, eyes expansion

U.S. stimulus, vaccine progress encourage equity bulls

TOKYO/NEW YORK (Reuters) – Asian shares and U.S. stock futures rose on Wednesday as governments around the world looked poised to boost spending to help economies recover from the coronavirus and vaccine roll-out programmes accelerated. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.51%. Australian stocks jumped by 1.12%. Shares in China fell 0.06%. … Read more U.S. stimulus, vaccine progress encourage equity bulls

Nissan suspends some truck production in Mississippi due to chip shortage

(Reuters) – Nissan Motor has suspended some truck production in the U.S. state of Mississippi due to a shortage of chips, a Nissan USA spokeswoman said. The Japanese automaker has had to make short-term production adjustments at its North American operations due to the shortage, beginning with three non-production days on the truck line at … Read more Nissan suspends some truck production in Mississippi due to chip shortage

Microsoft backs Australia's proposed media laws targeting Google, Facebook

(Reuters) – Microsoft Corp said on Wednesday it fully supported proposed new laws in Australia that would force internet giant Google and social media heavyweight Facebook Inc to pay domestic media outlets for their content. “While Microsoft is not subject to the legislation currently pending, we’d be willing to live by these rules if the … Read more Microsoft backs Australia's proposed media laws targeting Google, Facebook

Oil rises on falling crude stocks, demand hopes on stimulus and vaccine rollouts

MELBOURNE (Reuters) – Oil rose in early trade on Wednesday on expectations global oil stocks will fall back to more normal levels this year and as U.S. lawmakers moved closer to approving President Joe Biden’s $1.9 trillion COVID-19 aid bill without Republican support. U.S. West Texas Intermediate (WTI) crude futures climbed 11 cents, or 0.2%, … Read more Oil rises on falling crude stocks, demand hopes on stimulus and vaccine rollouts

McDonald's can sue ousted CEO over alleged lies about affairs: judge

(Reuters) – A Delaware judge on Tuesday rejected former McDonald’s Corp Chief Executive Steve Easterbrook’s bid to dismiss a lawsuit by the fast-food chain seeking to recoup millions of dollars in severance pay because he allegedly covered up improper sexual relationships with employees. McDonald’s knew that he had engaged in one, non-physical consensual relationship with … Read more McDonald's can sue ousted CEO over alleged lies about affairs: judge

Analysis: GameStop saga expected to revive scrutiny of hedge fund industry

WASHINGTON (Reuters) – With hedge funds at the center of market drama for the second time in less than 12 months, the GameStop saga is likely to expedite a regulatory review of the ever-larger role non-bank firms play in the financial markets, regulatory experts said. Scrutiny of the non-bank financial sector was already expected to … Read more Analysis: GameStop saga expected to revive scrutiny of hedge fund industry

Citi's incoming CEO Fraser forms new operating team to build leadership accountability

(Reuters) – Citigroup Inc’s incoming chief executive officer Jane Fraser said on Tuesday she has decided to form a new global operating team to build accountability among its top leaders. “A key element of our Transformation work is to hold our business leaders accountable not only for the performance of their own teams, but for … Read more Citi's incoming CEO Fraser forms new operating team to build leadership accountability

GameStop, other Reddit-favored stocks plunge as trading frenzy fizzles

(Reuters) – GameStop Corp shares more than halved in value on Tuesday and silver prices retreated as the Reddit-driven trading frenzy that roiled stock and commodity markets appeared to fizzle, at least for now. The videogame retailer’s shares, whose wild gyrations have made or lost billions of dollars for hedge funds and other investors in … Read more GameStop, other Reddit-favored stocks plunge as trading frenzy fizzles

Asian shares push higher on improving coronavirus outlook

(Reuters) – Asian markets moved higher during early trading as governments around the world looked poised to boost spending to help economies recover from the coronavirus and vaccine roll-out programs accelerated. E-mini futures for the S&P 500 rose 0.34%. Japan’s Nikkei rose 0.3% in early trade and Australian S&P/ASX 200 index added 0.8%. Hong Kong’s … Read more Asian shares push higher on improving coronavirus outlook