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Cisco beats quarterly revenue estimates

Cisco Systems Inc on Thursday reported smaller-than-expected drop in first-quarter revenue as more people working from home during the COVID-19 pandemic drove demand for its teleconferencing tools, networking equipment and cybersecurity products.

Markets

Wall Street ends sharply lower as pandemic fears resurge

Wall Street ended sharply lower on Thursday as U.S. coronavirus infections surged and investors weighed the timeline for the mass rollout of an effective vaccine.

Markets

US senator urges FTC to interview Facebook ex-officials

Senator Marsha Blackburn, a Republican and a tough critic of the big tech companies, urged the Federal Trade Commission on Thursday to interview some former employees of Facebook Inc as part of its probe of the social media giant.

Markets

Fired Amazon worker files discrimination lawsuit over pandemic conditions

A former Amazon.com Inc worker who protested conditions at his New York City fulfillment center sued the retailer on Thursday, accusing it of discrimination for firing him and for putting Black and Hispanic workers at heightened risk of contracting COVID-19.

Markets

Future of Dakota Access pipeline uncertain as Biden presidency looms

The election of Democrat Joseph Biden could create more headaches for the Dakota Access Pipeline's (DAPL) owners, who are already embroiled in legal battles to keep the main conduit for flowing oil out of North Dakota running.

Markets

Chinese President Xi Jinping decided to halt Ant’s IPO: WSJ

China's President Xi Jinping personally decided to pull the plug on Ant Group's US$37-billion initial public offering, the Wall Street Journal reported on Thursday, citing Chinese officials with the knowledge of the matter.

Markets

US starts fiscal 2021 with 111% jump in October deficit

The US government started the 2021 fiscal year with an October budget deficit of US$284 billion, a record for the month, as coronavirus-related outlays spiked sharply from a year earlier and revenues declined, the Treasury Department said on Thursday.

Markets

Buyout fund EQT in early takeover talks with KPN: Report

European private equity fund EQT is holding preliminary talks with KPN NV over a possible takeover bid that could value the largest Dutch telecommunications company at about US$13 billion, a source with knowledge of the matter said.

Markets

Amazon shifts some voice assistant, face recognition computing to its own chips

Amazon.com Inc on Thursday said it shifted part of the computing for its Alexa voice assistant to its own custom-designed chips, aiming to make the work faster and cheaper while moving it away from chips supplied by Nvidia Corp.

Markets

Buyout fund EQT in early takeover talks with KPN: source

European private equity fund EQT is holding preliminary talks with KPN NV over a possible takeover bid that could value the largest Dutch telecommunications company at about US$13 billion, a source with knowledge of the matter said.

Markets

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