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Top officials of the Saudi oil industry held a news conference Tuesday and delivered a very upbeat message. Saudi Arabia’s production capacity, which had been crippled by last weekend’s aerial attack, would be “fully restored” by the end of September, according to Saudi Aramco, the national oil company. If that pace of recovery seems almost miraculous, it is. The attacks cut Saudi output by more than half. Analysts say that while the kingdom has been able to restore some of that output, the effects of the onslaught on two key facilities are likely to linger for weeks or even months. “We are certainly expecting some disruption and restriction to continue at least into November,” said Richard Mallinson, an analyst at Energy Aspects, a London
Online shopping giant Amazon revealed a carbon footprint Thursday that rivals that of a small country, and vowed to reduce the damage to the planet by cutting its use of fossil fuels. The company, which ships more than a 10 billion items a year on fuel-guzzling planes and trucks, said it has ordered 100,000 electric vans that will start delivering packages to shoppers’ doorsteps in 2021.
WASHINGTON — A sharply divided Federal Reserve cut its benchmark interest rate Wednesday for a second time this year but declined to signal that further rate cuts are likely this year. The Fed’s move reduced its key short-term rate — which influences many consumer and business loans — by an additional quarter-point to a range of 1.75% to 2%. The action was approved 7-3, with two officials preferring to keep rates unchanged and one arguing for a half-point cut.
WASHINGTON — Executives of Facebook, Google and Twitter told Congress on Wednesday that they’ve gotten better and faster at detecting and removing violent extremist content on their social media sites in the face of mass shootings fueled by hatred. Questioned at a hearing by the Senate Commerce Committee, the executives said they are spending money on technology to improve their ability to flag extremist content and taking the initiative to reach out to law enforcement authorities to try to head off potential violent incidents. “We will continue to invest in the people and technology to meet the challenge,” said Derek Slater, Google’s director of information policy. The lawmakers want to know what the companies are doing to remove hate spee.
WeWork’s parent company put its stock market debut on the back burner Tuesday, struggling to drum up investor enthusiasm for a fast-growing enterprise that spread trendy communal office spaces across the globe while piling up massive losses and drawing concerns about its CEO’s corporate governance practices. The We Co. dropped plans to begin its road show this week to market its shares for an initial public offering that had been widely expected this month.
When Dawn Ostroff began working the graveyard shift at a Miami radio station, her parents assumed her career in radio would be short-lived. The college student was awkward reading the news, but she honed her skills and kept her job. Four decades later, Ostroff is transforming the next generation of radio for the world’s largest music-streaming subscription company. Since she was tapped as Spotify’s chief content officer about a year ago, Ostroff has been charged with building an arsenal of podcasts to catapult the Swedish business into a market-leading position, not just in music but also in audio storytelling. Under her watch, the number of podcasts available on Spotify has grown to more than 450,000 titles, up from 185,000 in February. Th.
HELSINKI, Finland — “Happy hour” at the S-market store in the working-class neighborhood of Vallila happens far from the liquor aisles and isn’t exactly convivial. Nobody is here for drinks or a good time. They’re looking for a steep discount on a slab of pork. Or a chicken, or a salmon fillet, or any of a few hundred items that are hours from their midnight expiration date. Food that is nearly unsellable goes on sale at every one of S-market’s 900 stores in Finland, with prices that are already reduced by 30% slashed to 60% off at exactly 9 p.m. It’s part of a two-year campaign to reduce food waste that company executives in this famously bibulous country decided to call “happy hour” in the hopes of drawing in regulars, like any decent bar.
LONDON — A cyclist pedals furiously in space with only one mission: delivering sushi to a hungry astronaut. A man gets a pizza in a field after seemingly tunneling underground to escape from prison, and a woman receives a delivery during a car chase. Through the unusual series of deliveries, a voice-over says: “Order what you want, where you want, when you want it,” with text at the bottom of the screen warning that “some restrictions apply, obviously...”But regulators in Britain found the fundamental message of the advertisements for Deliveroo, the London food delivery service, misleading, because the service is not available throughout the country. “The ad must not appear again,” the regulator, the Advertising Standards Authority, said l.
The United States is on recession watch as market signals flash red. Manufacturing is straining under President Trump’s trade war, business investment is slowing, and consumer confidence is showing cracks. But many economists expect that growth will weaken slightly over the next couple of years — without actually contracting — and that distinction is crucial. The Federal Reserve chair, Jerome Powell, said this month that “the most likely outlook for our economy remains a favorable one with moderate growth,” and “our main expectation is not at all that there will be a recession.”Economic growth that dips substantially lower can hurt, especially for workers in hard-hit industries. But the aftermath of weak growth has historically differed pr.
The first rule of Silicon Valley venture capital is never insult a startup. Founders are always killing it, disrupting the world or just plain raising the roof. If a startup is fizzling, shuttering or caught scamming? The socially acceptable response is total silence. Everyone knows that. Except Jason Palmer. The startup in question was AltSchool, a Mark Zuckerberg-backed project to turn school into a startup experience. It had just announced it was pivoting out of existence after raising $174 million. Palmer is in this field: He is a venture capitalist in Washington, D.C., focused on education technology. On June 29, he tweeted that AltSchool was always a bad idea, and he was glad that his firm hadn’t invested in it. That single jab at a f.
Congress showed the breadth of its investigation into the big tech companies Friday, making a public demand for scores of documents, including the personal emails and other communications from dozens of top executives. Members of the House committee, Republicans and Democrats alike, who are investigating the market power and behavior of the companies sent letters directly to Jeff Bezos of Amazon, Tim Cook of Apple, Mark Zuckerberg of Facebook and Larry Page of Google. The requests called for all communications to and from executives at those companies, including eight at Amazon, 14 at Apple, 15 at Facebook and 14 at Google. With the request, which was posted online, the lawmakers made a not-so-subtle point that executives would be held resp.
Parents spending days chasing young children around will complain that they feel far older than their years. But their parents — if they have their health and a bit of wealth — are just as likely to say how young and vital they feel, better than they imagined 60, 70 or even 80 could be. Older people’s ability to proclaim their youth, strength and all-around-great lives appears to be thriving. But the age you feel, as opposed to the years you’ve accumulated, affects how you think about your money, many experts now believe. They say it influences how people save, spend, donate and plan what to leave to heirs. This effect isn’t confined to the 1% — or even people who are just comfortably upper middle class. Chip Conley, founder of the Modern E.
NEW YORK — WeWork’s parent company announced major changes in its corporate governance practices Friday as it revealed plans to list shares on the Nasdaq. The office-sharing company is pressing on with its highly anticipated stock market debut — expected this month — despite doubts about its ability to make money and decisions that have raised commitment and conflict of interest concerns about CEO Adam Neumann. WeWork’s parent company, the We Co., said it was cutting by half — to 10 per share from 20 — the voting power of highest-class shares that Neumann and others would have after the IPO. The company’s full board of directors also will have the power to remove Neumann as CEO and appoint a successor, instead of relying on a three-member b.

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