Business

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In a statement released by China's commerce ministry, it has been revealed that the Chinese and US governments will enter into a Phase 1 trade deal. The US has agreed to lower tariffs on Chinese imports in exchange for China's promise to purchase more agricultural and energy goods from the United States.

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The US Equal Employment Opportunity Commission's two year long investigation into Uber's company culture found that the company allowed a culture of sexual harassment to prevail and targeted victims of alleged harassment who would come forward. Uber has agreed to pay 4.4 million USD in fines to settle the dispute.

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Airbnb has announced its new safety guidelines and has banned all party houses on the app. The decision came after a fatal shooting at one of these houses during Halloween earlier this year. They are also implementing stricter rules regarding guest complaints, even setting up a hotline for neighbors to register said complaints.

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Hundreds of Vox's freelance workers are about to lose their jobs as California has passed a new law that forbids freelance writers from submitting more than 35 articles a year. The law means that companies will have to reclassify freelancers as employees or fire them entirely. Contractors will be able to apply for jobs at the company.

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Following the Federal Aviation Administration's decision not to renew licences for Boeing's Max 737 in 2020, the company has announced that it is halting manufacturing for the plane, and may have to shut down production completely, pending federal negotiations. Boeing's Max 737 is its most popular plane, but its licence has been suspended after two Max 737s crashed this year, killing 346 people.

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The Chinese ambassador to Germany has threatened that China will retaliate against Germany if Huawei is not included as a supplier of 5G technologies. The ambassador made a reference to all the cars Germany sells in China and said that Huawei technology is completely safe. Many have accused Huawei of spying for the Chinese government.

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The U.S. auto safety agency has announced that it will be investigating Tesla's autopilot feature as there have been around 12 car crashes that have been linked to the feature. Tesla has made numerous statements claiming the feature does not make the car independent as the driver is still required to pay attention to the road.

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Amazon has announced that users will now be able to change their Alexa device's voice to sound like Hollywood superstar Samuel L Jackson. It will cost users just $! to unlock this feature although it is currently limited in scope. Alexa will not be able to sound like the actor all the time but will be able to do so for weather updates or jokes.

amazon alexa samuel-l-jackson

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Gerald Cotten, the 30-year-old founder of QuadrigaCX, passed away suddenly due to Crohn's disease while on honeymoon in India. QuadrigaCX was at the time the largest cryptocurrency exchange in Canada, with invested funds of up to 190 million USD. Immediately after his death, users of QuadrigaCX were unable to access their funds, prompting demands for an autopsy of Cotten's body to resolve these suspicious circumstances.

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Boeing recently announced its withdrawal from the bid for an 85 billion USD Pentagon contract to replace aging nuclear missile systems, stating that rival company Northrop's acquisition of Orbital ATK, a solid rocket motor manufacturer, meant that Boeing could no longer reasonably compete with their offer. With no other offers expected, Northrop is expected to win the bid automatically.

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The administration of US president Donald Trump has negotiated a temporary delay in the new round of US tariffs on Chinese imports, which were due to come into effect on December 15. While Beijing has remained quiet about the issues under discussion, US officials have stated that a key point in the upcoming negotiations will be the United States' demand that China import more farming goods from the US.

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Saudi government-owned oil giant Aramco became the most valuable company in the world yesterday, when its public offering raised 25.6 billion USD to value the company at 1.78 trillion USD, the largest initial public offering and company valuation in history. Today, the company's valuation briefly passed the 2 trillion USD mark, which is how much Saudi crown prince Mohammed bin Salman had initially wanted the public offering to raise.

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American airline Delta's chief executive Ed Bastian released a statement announcing substantial profit growth expectations for the airline in 2020, with share prices increasing from 6.75 to 7.75 USD. He ascribes the growth to the growing popularity of air travel despite rising climate change concerns from investors and anti-air travel protests in European countries.

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Youtube has announced a new policy update that will no longer allow content that insults people in a racist or homophobic way. They updated their harassment policy in response to a complaint one of the content creators on the site lodged against another. The complaint attracted a large amount of public attention, forcing the site to take action.

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In the case filed by New York attorney general against Exxon Mobil, one of the world's largest oil companies, the attorney general claimed that the oil giant had deliberately presented misleading data about climate change to their investors. Exxon argued that they had used different figures to highlight different issues and had striven to provide accurate information, an opinion the court has upheld.

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Stock markets in Europe are experiencing a downturn, pending the much-awaited deadline for trade negotiations between the United States and China. The Trump administration must issue a final declaration on whether to impose the newly proposed tariffs on Chinese goods suggested by President Trump. Both the Euro STOXX 600 and the British pound have registered declines as a result of rising global economic tensions.

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Amazon CEO, Jeff Bezos, has announced that the company will adhere to the Paris climate agreement and will be completely carbon neutral by 2040. He made these statements in response to a planned walkout protest by the companies employees regarding Amazon's poor climate policies. The organizers of the protest have said that Bezos's promises do not go far enough.

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Bradley Singer, chief operating officer at ValueAct Capital, Rolls-Royce's largest shareholder, has left his position as a non-executive director in the company's board. ValueAct had invested in the iconic car manufacturer in 2016 at a time when profits were plunging, and had stated that the company was now on the mend. Singer's departure might signal ValueAct's imminent withdrawal from further investment in Rolls-Royce.

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Apple has told a federal court that the two Chinese national employees that they have indicted of stealing trade secrets may escape to China unless they are closely monitored. Both men have been released on bail and have not violated any of their pre-trial conditions. If they did escape to China, it would be almost impossible to get them back for a trial.

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According to some insider information, Honda is facing a financial crisis as the company has recently had to undergo some costly recalls. Honda CEO Takahiro Hachigo has said that the company will need to plot a new course and is reportedly making changes to the company's decision-making process. Some senior management roles have also been cut.

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American shoe-making company Skecher has grown in the last two decades to become the third largest footwear brand in the world, behind Nike and Adidas AG. Analysts are suggesting the company's earnings growth may be on par with that of Nike over the next three years, thanks to a broader footwear catalog, with predicted rates of around 15 percent.

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With the decline of Chinese exports in the global market for the fourth consecutive month, due to the effects of the trade war ensuing between the US and China, the global market is showing signs of slowing down, with oil prices decreasing by 28 cents, to 58.92 USD per barrel.

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Despite a statement made in summer suggesting that Tesco, the British supermarket giant, was optimistic about its prospects in East Asia, the company has recently stated that it is conducting a review of its holdings in Thailand and Malaysia, and may even consider selling them off. Five years ago the company became embroiled in an accounting scandal and has been trying to recover value since.

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Amazon CEO Jeff Bezos has said that he hopes to work with the Pentagon more frequently in the future as the US government continues to modernize. A number of technology companies compete for defense contracts, with Amazon being one of the top contenders. Bezos is currently suing the Department of Defence for allegedly unfairly awarding a contract to Microsoft.

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The United States Department of Justice has been conducting investigations into Swedish telecom company Ericsson's practices in the country, which has revealed incidences of bribery of government officials by employees working for the company. Ericsson has admitted to the charges and agreed to pay over 1 billion USD in fines, hoping to negotiate waivers that will enable it to continue operating in the country.

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