Cargill, the world’s largest agricultural commodities trader, is cutting 5 per cent of its 164,000-strong workforce after missing profit targets. The Minneapolis-based company aims to streamline operations under a 2030 strategy outlined by chief executive Brian Sikes. The cuts follow a sharp drop in revenues to $160bn for the fiscal year ending May 2024, from
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A judge in Delaware rejected Tesla’s attempt to restore Elon Musk’s record $56bn pay package after previously striking it down as a breach of the fiduciary duty of the electric-car maker’s board, dealing a blow
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Federal Reserve Gov. Christopher WallerBloomberg News At least one Federal Reserve official is leaning toward cutting interest rates at the central bank’s final monetary policy-setting meeting of the year. In a speech delivered Monday afternoon, Fed Gov. Christopher Waller said the Federal Open Market Committee can reduce the federal funds rate by an additional quarter-percentage
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<img src=”https://public.flourish.studio/visualisation/20585986/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were firmer to kick off December, as U.S. Treasuries were weaker and equities were mixed late in the session. Muni yields were bumped one to four basis points, depending on the scale, while UST yields rose up to five basis points on the short end, as of 3
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Stellantis chair John Elkann, a member of the Agnelli industrialist dynasty, spent Sunday calling senior officials in Rome and Paris to inform them of a decision with far-reaching ramifications: the carmaker’s chief executive Carlos Tavares was stepping down. The unanimous move by the Stellantis board to part with the outspoken Tavares came after sharp differences emerged
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. An unprecedented presidential vote recount in Romania has shown no marked difference from the original results, confirming the lead of pro-Russia nationalist Călin Georgescu, who will face liberal leader Elena Lasconi in the run-off on
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Tyler Traudt, CEO, DebtBookRYAN L JOHNSON DebtBook, a provider of cloud-based software solutions for governments and nonprofits, has released a new tool designed to provide a unified system to monitor bank activities, forecast cash inflows and outflows, and prevent fraud.  The firm’s new product, Cash Management, is set to solve a number of organizational challenges
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. French Prime Minister Michel Barnier’s government will face a no-confidence vote in coming days after he moved to force through draft budget measures without parliamentary approval. Barnier activated article 49.3 of the French constitution on
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Pat Gelsinger is to stand down as Intel chief executive, deepening the crisis at the once-dominant US chipmaking group, which has fallen behind rivals such as Nvidia. The California-based company said on Monday that the
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Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world Angela Merkel’s memoir is called Freedom. But it could just as well be titled No Regrets. In her newly published book, the former German chancellor goes back over her 16 years in power
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The city of Chester, on the Pennsylvania side of the Commodore Barry bridge (shown). A battle over the Chester Water Authority continues to rage.AdobeStock The Chester Water Authority traces its origins back to 1868, when it was created as a private entity to provide water to Chester, Pennsylvania’s residents.  The Chester Water Service Company, as
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Black Friday spending in US retail stores was muted this year in contrast to a more robust rise online, as bargain-hungry Americans skipped stores in favor of their phones and laptops, according to data from Mastercard and other data providers. Sales at brick-and-mortar stores grew just 0.7% year-over-year, according to preliminary estimates by payments processor Mastercard,
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