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Shares of start-up slide after reporting a $5.4bn annual loss and 10% cut to salaried payroll
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...Last week, President Joe Biden signed a law that will ban TikTok from US platforms unless its Chinese parent company ByteDance sells the business to an approved buyer....
...Under the proposed deal — which must be approved by a judge — these fees will be reduced by at least 0.04 percentage points for a minimum of three years and capped for five years....
...If approved by a court, the settlement would resolve claims alleging that the firm had conspired with peers and the industry’s main trade group to artificially prop up sales commissions....
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...If such costs are not approved by state public utility commissions, they eat into the profit margins as the utility earns nothing on its spending....
...“The fact that Ms McDaniel is on the payroll at NBC News, to me that is inexplicable, and I hope they will reverse their decision,” she said....
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...Separately, payroll provider ADP will release its US employment report for April, giving an insight into labour market conditions ahead of official government figures due on Friday....
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...report includes several handy pie charts breaking down the type of artwork backing these loans: The vast majority of the artwork backing the loans is also held in storage facilities managed by Sotheby’s or approved...
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...He said asset managers had been “heavy sellers” of the currency between October’s payroll report and the middle of January, but since then flows into dollar assets had resumed....
...It also came despite the company hitting 12 out of 16 ambitious financial targets approved by the carmaker’s board when the package was initially approved in 2018....
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