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Bridging The Gap
McDonald's ousted CEO will get 26 weeks of pay but forfeiting millions in stock options McDonald's ousted CEO will get 26 weeks of pay but forfeiting millions in stock options
Former McDonald’s CEO Steve Easterbrook is getting 26 weeks of pay or about $670,000 as part of his severance plan. However, Easterbrook, who was fired for violating company policy by having a consensual relationship with an employee, is forfeiting millions in unvested stock options, according to his separation agreement filed Monday with the U.S. Securities and Exchange Commission. Easterb...
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China exports fall in August as US trade war bites China exports fall in August as US trade war bites
China's exports unexpectedly fell in August as shipments to the US slowed sharply, adding to worries about the effects of the two nations' trade war. China is expected to announce more support measures soon, to avert the risk of a sharp economic slowdown. These could include the first cuts in four years to some key lending rates. August exports from the world's second largest economy fell...
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Waiting on this big Social Security announcement? Here's what to do instead Waiting on this big Social Security announcement? Here's what to do instead
Millions of seniors rely on Social Security to pay their bills, and for many, those benefits are their primary source of income. It's no wonder, then, that so many eagerly await news of a cost-of-living adjustment, or COLA, each October. The purpose of COLAs is to help seniors on Social Security retain their buying power in the face of inflation. As such, these raises, modest as they may be, ca...
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Three ways Trump could juice US economy Three ways Trump could juice US economy
Fears of a possible recession on the horizon has led the White House to begin considering several emergency measures to kickstart the US economy. Donald Trump likes to claim credit for "the greatest" economy ever which he hopes will help him win re-election in 2020. America's current expansion is the longest in US history. More Americans are in work. They're being paid more. And they're spendin...
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US teenager wins $3m as Fortnite world champion US teenager wins $3m as Fortnite world champion
A US teenager has won a record-breaking $3m (£2.4m) to become world champion of the computer game Fortnite. It is the largest prize pool in the history of e-sports, with $30m shared amongst the winners. Kyle Giersdorf, 16, won the solo event of the competition in the Arthur Ashe Stadium in New York, which hosts the US Open tennis tournament. Jaden Ashman - a 15-year-old from Hornchurch, L...
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Boeing takes $5bn hit over grounding of 737 Max Boeing takes $5bn hit over grounding of 737 Max
Boeing is taking a $4.9bn hit to cover costs related to the global grounding of its 737 Max aircraft. The charge is set to wipe out profits when the world's biggest planemaker posts quarterly results next week. In a statement, Boeing also said its "best estimate at this time" is that the aircraft will return to service in the last three months of this year. A 737 Max crash in Indonesia in...
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France passes tax on tech giants despite US threats France passes tax on tech giants despite US threats
France has approved a digital services tax despite threats of retaliation by the US, which argues that it unfairly targets American tech giants. The 3% tax will be levied on sales generated in France by multinational firms like Google and Facebook. The French government has argued that such firms headquartered outside the country pay little or no tax. The US administration has ordered an ...
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US Fed opens door to interest rate cut after Trump criticism US Fed opens door to interest rate cut after Trump criticism
The US central bank has opened the door to an interest rate cut, in a shift in guidance that follows criticism by President Donald Trump. The Federal Reserve left rates on hold, but said uncertainties about the economic outlook could force its hand. According to the vote, one Fed policymaker advocated an immediate cut, something the president has called for. Officials have in recent weeks...
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Is Target still down? After long waits and store closings, nationwide register outage ends Is Target still down? After long waits and store closings, nationwide register outage ends
It was a tough afternoon to be at Target. After a two-hour nationwide outage Saturday, Target’s registers are back online in the retailer's 1,849 U.S. stores, spokesman Joe Poulos confirmed to USA TODAY. "The temporary outage earlier today was the result of an internal technology issue that lasted for approximately two hours," Poulos said in a statement. "Our technology team worked quickly t...
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Uber posts $1bn loss weeks after stock market listing Uber posts $1bn loss weeks after stock market listing
Uber has posted a $1bn (£790m) loss as the ride-hailing firm delivered its first figures since a disappointing flotation earlier this month. The quarterly loss came despite a 20% rise in revenues to $3.1bn and increase in monthly active users to 93 million. The results were in line with many analysts' forecasts and may provide reassurance about the company's future profitability. Uber sha...
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