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US bank executives say AI will boost productivity, cut jobs

US bank executives say AI will boost productivity, cut jobs

By Tatiana Bautzer and Prakhar Srivastava NEW YORK, Dec 9 (Reuters) - U.S. banks including JPMorgan Chase and Wells Fargo said artificial intelligence will boost productivity at their companies and likely cause job losses.       
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Illinois enacts immigration protections amid Trump crackdowns

Illinois enacts immigration protections amid Trump crackdowns

By Jasper Ward WASHINGTON, Dec 9 (Reuters) - Illinois residents can sue federal immigration agents if they believe their civil rights have been violated after Governor JB Pritzker enacted a new law on Tuesday in response to the Trump administration's expansion of immigration enforcement nationwide.
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Citi CFO expects investment banking fees to climb in fourth quarter

Citi CFO expects investment banking fees to climb in fourth quarter

By Arasu Kannagi Basil and Tatiana Bautzer NEW YORK, Dec 9 (Reuters) - Citigroup Chief Financial Officer Mark Mason said on Tuesday that investment banking fees are expected to jump in the fourth quarter from the same time last year, as dealmaking continues to run hot. 
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US prosecutors seek to abandon soccer TV rights corruption case

US prosecutors seek to abandon soccer TV rights corruption case

U.S. prosecutors have told the Supreme Court that they want to give up their fight to preserve the convictions of a former Fox executive and a South American sports media company in a corruption case related to the TV rights for international soccer tournaments
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Australia's mining competitiveness at risk from excessive regulation, says Rinehart

Australia's mining competitiveness at risk from excessive regulation, says Rinehart

MELBOURNE, Dec 10 (Reuters) - Mining baroness Gina Rinehart said on Wednesday the burden of excessive regulation on the Australian mining industry has put its global competitiveness at risk.
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US seeks to lift block on evidence in probe of ex-FBI chief Comey

US seeks to lift block on evidence in probe of ex-FBI chief Comey

By Andrew Goudsward WASHINGTON, Dec 9 (Reuters) - U.S. prosecutors on Tuesday urged a federal judge to dissolve an order temporarily blocking the use of key evidence in a potential bid to re-indict former FBI Director James Comey, arguing the ruling had improperly stalled their criminal probe.
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Fed could find itself in a bind as it sets the stage for Powell's successor

Fed could find itself in a bind as it sets the stage for Powell's successor

By Howard Schneider WASHINGTON, Dec 8 (Reuters) - The U.S.
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Italy sets tough terms on personal data protection to clear Chinese JD.com's takeover of Ceconomy

Italy sets tough terms on personal data protection to clear Chinese JD.com's takeover of Ceconomy

By Giuseppe Fonte ROME, Dec 9 (Reuters) - Italy has set tough terms on personal data protection to clear Chinese e-commerce giant JD.com's takeover of German electronics retailer Ceconomy, a government decree seen by Reuters showed on Tuesday.
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Analysis-Investors warm up for long spell of discordant Fed

Analysis-Investors warm up for long spell of discordant Fed

By Vidya Ranganathan LONDON, Dec 9 (Reuters) - What is expected to be one of the most ructious Federal Reserve policy meetings in years this week could well prove to be the road test for financial markets on how U.S. monetary policy debates will shape up in 2026.
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China's Rare Earth Exports Surge Following Xi-Trump Agreement

China's Rare Earth Exports Surge Following Xi-Trump Agreement

China's rare earth exports saw a significant increase in November, following an agreement between President Xi Jinping and President Trump to expedite shipments of these critical minerals. The exports rose by 26.5% from October, reaching 5,493.9 metric tons. This increase comes after months of disruption caused by export controls that required licenses for each shipment, affecting industries such as automotive and electronics. The recent issuance of 'general licenses' is expected to further facilitate exports, with detailed country-specific data to be released later in December.
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Hedge funds and state-backed investors bet on volatility in 2026 

Hedge funds and state-backed investors bet on volatility in 2026 

ABU DHABI, Dec 9 (Reuters) - Markets roiled by geopolitical tensions and diverging interest rates present money-making opportunities for the coming year, the heads of hedge funds Man Group and Brevan Howard and the Abu Dhabi Investment Council's chief investor said on Tuesday. U.S.
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China's Li criticises tariffs as record trade surplus irks export markets

China's Li criticises tariffs as record trade surplus irks export markets

By Joe Cash BEIJING, Dec 9 (Reuters) - China's Premier Li Qiang on Tuesday urged trading partners to reject rising protectionism, a day after the world's second-largest economy posted a record $1 trillion trade surplus driven by a rush of exports to non-U.S. markets.