Fri, Oct 4, 2024 11:12 AM
Asia currencies set for worst week in over a year as Fed cut bets pared
A Flip by Avya Verma
Samsung fired employees responsible for leaking Galaxy S25 series photos online, which showed the device's design and identification numbers, ahead of its Unpacked event on January 22, 2025. The leak was traced back to the employees, resulting in job losses. Samsung takes leaks seriously, as they ruin the surprise planned for official product launches.
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Amazon delivery drivers and Starbucks baristas are on strike in a handful of US cities as they seek to exert pressure on the two major companies to recognize them as unionized employees or to meet demands for an inaugural labour contract. The strikes that started Thursday and Friday followed other recent standoffs between corporate America and organised labour.
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With its 0.04% gain Thursday, the Dow finally broke its 10-day losing streak, the worst since the 70s. This week’s performance was yet another reminder of why the historically important index is now more historical than important, having long ceded its role to the S&P 500. Before the market’s dramatic reaction to the Fed on Wednesday, the Dow had been running counter to the S&P 500 and Nasdaq.
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