Hundreds of gig driver jobs under threat in Spain as new rules kick in

Hundreds of ride-hailing app drivers in Barcelona and other Spanish cities could lose their jobs on Saturday when a deadline for new rules covering these services expires, drivers and fleet owners told Reuters. Spain’s regional governments were told to issue new rules for private cars transporting passengers hired through mobile platforms such as Uber (UBER.N), […]

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BlackRock says cutting leverage in some funds in UK pensions crisis

U.S. asset management group BlackRock said on Friday it was reducing leverage in so-called liability-driven investment (LDI) funds at the centre of chaotic market conditions for British pension funds this week, to protect its clients’ capital. British government bond prices slumped by their most in decades following finance minister Kwasi Kwarteng’s first fiscal statement last […]

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U.S. consumer spending rebounds, but high inflation cooling demand

U.S. consumer spending increased more than expected in August, but stubbornly high inflation is dampening demand, potentially limiting an anticipated rebound in economic growth this quarter. The report from the Commerce Department on Friday also showed underlying inflation pressures building up last month, providing cover for the Federal Reserve to remain on its aggressive monetary […]

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U.S. adds Moscow Aviation Institute, airplane repair plants to economic blacklist

The U.S. Commerce Department on Friday added more than 50 Russian entities to an economic blacklist, including the Moscow Aviation Institute and a number of aviation repair plants. Commerce said it added entities for attempting or acquiring U.S.-origin items in support of Russia’s military. The Moscow Aviation Institute has been involved in airplane, helicopter, drone […]

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