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During the period, while U.S. inflation averaged 7.5% Walmart kept prices steady, the Dataweave analysis shows. Reuters Graphics Reuters GraphicsThis was during a time when world food prices hit record highs and U.S. food-at-home prices rose in the double digits. Food-at-home prices, or prices of food bought at grocery stores and supermarkets, are expected to rise a further 6.6% this year, according to the U.S. Department of Agriculture. The data set, which included batteries in the basket of goods, showed that Walmart sold Energizer batteries at a significant discount to rivals. Similarly, at least two different types of Energizer coin batteries sold at Walmart were found to be between 30% and 35% cheaper than the next lowest priced rival.
US retailers cut most number of jobs in April -report
  + stars: | 2023-05-04 | by ( ) www.reuters.com   time to read: +1 min
May 4 (Reuters) - U.S. retailers replaced technology firms in cutting the most number of jobs in April, as companies show little signs of easing their belt-tightening drive in an uncertain economy. Higher interest rates to counter the impact of inflation have muddied the outlook for the U.S. economy, forcing Corporate America to undertake stringent measures to protect itself from any fallout from a potential recession. So far this year, major retail and consumer companies including Gap Inc (GPS.N) and Walmart (WMT.N) have announced job cuts. The report also said job cuts last month fell 25% to about 67,000 - the lowest so far in the year, taking total layoffs to around 337,000 jobs since the start of the year. Reporting by Akash Sriram and Tanya Jain in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.
Berkshire Hathaway shareholders attending this year's meeting will want to know more about the company Warren Buffett once called his "favorite child" – the auto insurer Geico. With tens of thousands of shareholders in attendance, Berkshire's annual "Woodstock for Capitalists" will be held in Omaha, Nebraska on Saturday, the second in-person gathering since 2019. "I think it's the biggest issue out there at the moment is really Geico," said Bill Stone, chief investment officer at Glenview Trust and a Berkshire shareholder. Geico, until recently, wasn't involved in telematics," Jain said at Berkshire's 2022 meeting. Geico represents one area of weakness for Berkshire, which overall has been beating the broader market.
[1/2] Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc's annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. Tens of thousands of people are flocking to Omaha, Nebraska this weekend for the extravaganza that Buffett, 92, calls "Woodstock for Capitalists." Buffett and Munger are due to answer five hours of shareholder questions at the meeting. "We believe in constructive engagement and dialogue, whether it's Warren Buffett or another company," Frerichs said in an interview. Reporting by Jonathan Stempel in Omaha, Nebraska; Editing by Will Dunham and Megan DaviesOur Standards: The Thomson Reuters Trust Principles.
Factbox: Warren Buffett, Berkshire Hathaway at a glance
  + stars: | 2023-05-04 | by ( ) www.reuters.com   time to read: +8 min
[1/2] Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc's annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. REUTERS/Scott Morgan/File PhotoMay 4 (Reuters) - Tens of thousands of people are descending on Omaha, Nebraska to attend the annual shareholder weekend for billionaire investor Warren Buffett's Berkshire Hathaway Inc (BRKa.N). Susan Buffett and Howard Buffett are Berkshire directors. His Berkshire stock will go to philanthropy after he dies. (Interview with CNBC, April 12, 2023)Abel on Berkshire managers' relationship with him: "It's not the same as working for Warren.
Scientists say they trained AI to recreate a story from a brain scan. The AI was able to read their brainwaves and recreate the story accurately, per a study. The AI was able to accurately predict what the story was about by reading only the participant's brainwaves, per the study. The story doesn't come out exactly like it was told An annotated diagram shows how the AI can read brainwaves and generate a story. The technique can't break into private thoughtsScientists used this brain scanner to collect brainwaves to feed to the AI.
The researchers trained their semantic decoder on dozens of hours of brain activity data from participants, collected in an fMRI scanner. Scientists have developed a noninvasive AI system focused on translating a person's brain activity into a stream of text, according to a peer-reviewed study published Monday in the journal Nature Neuroscience . PH.D. STUDENT JERRY TANG PREPARES TO COLLECT BRAIN ACTIVITY DATA IN THE BIOMEDICAL IMAGING CENTER AT THE UNIVERSITY OF TEXAS AT AUSTIN. Once the AI system is trained, it can generate a stream of text when the participant is listening to or imagines telling a new story. According to a news release, the trained system produces text that closely or precisely matches the intended meaning of the participant's original words around half of the time.
Women still have less access to the internet, with men being 21% more likely to be online than women globally. One reason for this is because being a girl, teenager, woman, trans or non-binary person makes us victims of digital violence. An internet women want is one where there is no fear to comment, to express an opinion, or publish photos of our bodies -- and where there are no limits simply because you are a woman on the internet. Women stood together internationally when Iranian women cut their hair , showing how the internet politicises women, sparks debates and builds international solidarity. Therefore, an internet that women want -- and that works for women -- needs to start by being affordable for women.
Sanction hit tars BAT’s US listing hopes
  + stars: | 2023-04-26 | by ( ) www.reuters.com   time to read: +2 min
LONDON, April 26 (Reuters Breakingviews) - British American Tobacco (BATS.L) could have trouble getting more American love. The $635 million settlement plus interest may be less of a financial spoil for the $82 billion giant. Still, investors including Rajiv Jain’s GQG Partners, had hoped BAT could move its listing to the United States to close a yawning valuation gap. The reputational stain from its fine, however, raises the risk that if it were to move stateside, U.S. investors may still apply a discount. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
NEW DELHI, April 24 (Reuters) - Indian companies "sometimes" face delays in paying for Russian oil priced above the $60 cap per barrel fixed by the Western nations, India's oil secretary Pankaj Jain said on Monday. "Nobody stops us from buying Russian oil at above the price cap level provided. In case of Russian oil priced above the cap, the companies on their own manage to find alternative mechanisms to settle payments, he said, adding most Russian oil supplies to India are made at below the price cap level. He also said India is seeking to buy oil at discounts from other countries depending on grades. India has significantly increased oil imports from Russia since the beginning of the conflict in Ukraine.
REUTERS/Francis Mascarenhas/File PhotoNEW DELHI, April 20 (Reuters) - The Delhi High Court on Thursday ordered YouTube to remove fake news videos about the grand-daughter of Bollywood superstar Amitabh Bachchan, in response to her petition to stop circulation of false rumours about her health, lawyers said. Judge C. Hari Shankar ordered YouTube to ensure the videos about Aaradhya Bachchan, 11, were taken down immediately. Three lawyers representing Aaradhya said in a statement that it was a landmark judgment as the court has upheld the privacy of a child. Aaradhya is the daughter of actors Abhishek Bachchan and Aishwarya Rai Bachchan and is frequently photographed accompanying them at public events. Aishwarya Rai Bachchan is a former Miss World and a brand ambassador for L'Oreal (OREP.PA).
The steep drop in fresh capital has left many companies in a vulnerable state, while the failure of Silicon Valley Bank, a leading provider of venture debt, has added to the challenge, a report by venture capital (VC) firm Space Capital said on Thursday. Space Capital's report, coming on the heels of a Chapter 11 filing from Richard Branson's Virgin Orbit Holdings Inc, tracked 89 companies active in the sector. The risk threshold to invest in space companies was much higher earlier, but given recent market uncertainty, investors may not be as risk-loving and space being a nascent sector, many are dialing back, Deutsche Bank analyst Edison Yu told Reuters separately. However, Space Capital added that companies in emerging industries, like those associated with the National Aeronautics and Space Administration's Artemis mission to the Moon are seeing an increased interest. Reuters GraphicsReporting by Akash Sriram and Tanya Jain in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.
Australian court approves BHP's $6.4 bln OZ Minerals takeover
  + stars: | 2023-04-17 | by ( ) www.reuters.com   time to read: 1 min
April 17 (Reuters) - Global miner BHP Group Ltd (BHP.AX) said on Monday the Federal Court of Australia had approved its A$9.6 billion ($6.44 billion) takeover of OZ Minerals Ltd (OZL.AX). The court approval follows overwhelming support from OZ Minerals shareholders for the deal, which is the third largest in global mining in recent months. Shares of the Australian copper producer will be suspended from trading on the local bourse at the close of trading on Tuesday. ($1 = 1.4914 Australian dollars)Reporting by Echha Jain in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.
[1/2] Police officers escort Atiq Ahmed, a former lawmaker in India's parliament, accused in several criminal cases, outside a court in Prayagraj, India, April 13, 2023. A gunman is seen reaching over the shoulders of police to point a pistol at the temple of the former lawmaker, Atiq Ahmed, whose turban is blown off as the gun discharges. Fearing the possibility of violent unrest in the wake of the killings, the Uttar Pradesh government barred gatherings of more than four people across the entire state. He had been wanted in connection to a murder case that was being investigated as part of a wider crackdown into a land mafia operating in Uttar Pradesh. Police in Uttar Pradesh have killed more than 180 suspected criminals during encounters over past six years.
[1/2] Tibetan spiritual leader the Dalai Lama, Patron of Children in Crossfire, speaks during a press conference in Londonderry, Northern Ireland September 11, 2017. REUTERS/Clodagh Kilcoyne/File PhotoNEW DELHI, April 13 (Reuters) - The head of Tibet's government-in-exile on Thursday defended the Dalai Lama over footage of him asking a boy to suck his tongue, saying the incident had demonstrated the country's spiritual leader's innocent and affectionate side. Penpa Tsering, the Sikyong (political leader) of the exiled Central Tibetan Administration, said the Dalai Lama had been "unfairly labelled with all kinds of names that really hurt the sentiment of all his followers". The video clip, filmed in February and circulated this month, has been viewed over one million times on Twitter. The Dalai Lama fled to India in 1959 after a failed uprising against Chinese rule in Tibet.
All agreed there was a marked increase in awareness among Indian Muslims about birth control and family planning. The 2021 census has been delayed but the United Nations has projected India's population will touch 1.42 billion this month. "There is a misconception among Muslims that Islam doesn’t allow the use of birth control measures," said Maulana Khalid Rasheed, the imam of the Lucknow Eidgah in Uttar Pradesh, India's most populous state. [1/5] FILE PHOTO-Members of a Muslim family sit down for a meal in an old quarter of Delhi, India March 3, 2023. Experts say the public health system is now unable to keep up with the demand for birth control services from people who are aware about their usefulness, also called an unmet need.
Ukraine wants tighter ties with India, visit by Modi
  + stars: | 2023-04-10 | by ( ) www.reuters.com   time to read: +2 min
India holds the rotating presidency of the Group of 20 this year and hosts a leaders summit in September. Dzhaparova, who is on a four-day visit to New Delhi, told the broadcaster: "We believe India should be engaged and involved in the Ukraine issue to a great extent". India has sought a diplomatic solution to the conflict in Ukraine, while Modi told Russian President Vladimir Putin in September that now is "not an era of war". India has also boosted its purchases of Russian oil, taking advantage of the deep discounts following a European ban on Russian oil imports. Dzhaparova will meet India's deputy national security adviser and a junior foreign minister during her visit and address a world affairs think tank.
India has not suspended trade talks with UK, officials say
  + stars: | 2023-04-10 | by ( ) www.reuters.com   time to read: +3 min
NEW DELHI, April 10 (Reuters) - Trade talks between India and Britain have not been suspended and will continue this year, three officials said on Monday, responding to a British newspaper report that said India had "disengaged" from the talks after London failed to condemn Sikh separatists. An official in India's foreign ministry said progress in the trade talks and New Delhi's concerns around Sikh separatist activities in Britain should not be interlinked. A diplomatic official in the British High Commission in New Delhi said trade talks will continue in a scheduled manner and security officials in London were addressing India's concerns about Sikh separatist activities in Britain. "Both the UK and India are committed to delivering an ambitious and mutually beneficial FTA and concluded the latest round of trade talks last month," a spokesperson for Britain's Department for Business and Trade said. A second Indian foreign ministry source said that trade talks with Britain had not been suspended, and described the media report to be "baseless".
"Without full access to the information that China has, you cannot say this or that," said Director-General Tedros Adhanom Ghebreyesus in response to a question about the origin of the virus. That's WHO's position and that's why we have been asking China to be cooperative on this." Data from the early days of the COVID pandemic was briefly uploaded by Chinese scientists to an international database last month. The WHO's Maria Van Kerkhove, technical lead for COVID-19, said the latest Chinese information offered some "clues" on origins but no answers. She added WHO still did not know whether some of the research required had been undertaken in China.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTravel is the 'least recession-prone sector' for countries that are late in reopening, says HSBCParash Jain of HSBC says a recession would have less of an impact on travel in China, compared with countries that reopened earlier, such as the United States and India.
NEW YORK (Reuters) - Wall Street bankers face an increasingly gloomy job market after last month’s banking crisis worsened an already bleak outlook for pay and staffing. One likely consequence of the turmoil is that banks tighten their lending standards, which could further hinder dealmaking - making the prospects for jobs and compensation on Wall Street more gloomy. Now, financial industry workers are fretting not only about pay, but job security. The Wall Street giant typically cuts about 5% of its lowest-performing staff as part of the process. While there are plenty of reasons to be glum, Wall Street workers are enjoying one silver lining after the pandemic: greater flexibility in structuring their workday.
SURAT, India, April 3 (Reuters) - Indian opposition leader Rahul Gandhi will on Monday lodge an appeal against his conviction for defamation, his lawyer said, hoping to overturn a judgement that resulted in his expulsion from parliament a year before a general election is due. Gandhi, the scion of a dynasty that has given India three prime ministers, was granted bail and a two-year jail sentence was suspended for 30 days allowing him to appeal in a higher court. "Gandhi will challenge the conviction order on multiple grounds," his lawyer, Kirit Panwala, told Reuters in Surat city in the western state of Gujarat where the appeal will be heard. He said the appeal would also highlight what he called procedural lapses in the trial. Writing by Rupam Jain in New Delhi; Editing by YP Rajesh, Robert BirselOur Standards: The Thomson Reuters Trust Principles.
Rahul Gandhi to appeal jail sentence
  + stars: | 2023-04-02 | by ( ) www.reuters.com   time to read: +2 min
MUMBAI, April 2 (Reuters) - Indian opposition leader Rahul Gandhi will appeal a two-year jail sentence in a defamation case brought against him by lawmaker from Prime Minister Narendra Modi's Bharatiya Janata Party (BJP), local media reported on Sunday. A lower court sentenced Gandhi on March 23 for two years in jail on charges of defamation. The opposition critics accuse Modi government of giving undue favours to a business group led by billionaire tycoon Adani. Shares of Adani group companies plunged after Hindenburg Research on Jan. 24 alleged that the Indian company had engaged in stock manipulation and used tax havens. A day after Gandhi's conviction, 14 political parties jointly petitioned the Supreme Court, saying opposition groups were being selectively targeted by federal investigative agencies.
The opposition has come together after this month's conviction of opposition leader Rahul Gandhi of the Congress party on a charge of defamation and his disqualification from parliament. Opposition politicians say Gandhi's shock disqualification, and possible jail time, is the latest evidence of the Modi government's strongarm tactics and follows investigations and legal troubles faced in recent months by other opposition parties. A day after Gandhi's conviction, 14 political parties jointly petitioned the Supreme Court, saying opposition groups were being selectively targeted by federal investigative agencies. "The Modi government's fascist steps have given a new chance for opposition parties to be united," Trinamool MP Sukhendu Sekhar Roy, told Reuters. "Anti Modi-ism or anti BJP-ism cannot be the glue that brings together disparate opposition parties with different aspirations and ambitions and positions," said Nalin Kohli, the BJP's national spokesperson.
US FDA approves first OTC opioid overdose reversal drug
  + stars: | 2023-03-29 | by ( ) www.reuters.com   time to read: +2 min
[1/2] A box of NARCAN nasal spray is photographed at an outpatient treatment center in Indiana, Pennsylvania, U.S. on August 9, 2017. The approval for OTC use of the naloxone-based nasal spray will help align the federal government's stance with states that have provisions to offer the drug without prescription at pharmacies. Drug-related overdose deaths in the United States rose about 15% year-over-year to more than 100,000 in 2021, as per official data. While the approval puts Emergent ahead in the OTC product race, analysts have said it is not likely to derive significant sales from the approval. Benchmark analyst Robert Wasserman said ahead of the approval that Narcan sales peaked in 2020 and have declined since.
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