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Biden seeks to keep edge as 2020 Democrats flood Iowa

DES MOINES, Iowa (Reuters) - Former Vice President Joe Biden said he was not taking his front-runner status for granted as he returned to Iowa on Thursday, ahead of a wave of rival Democratic presidential contenders who will in coming days visit the state that starts the party’s nominating contest. Before the weekend is out, more than 20 contenders will attend the Iowa State Fair and speak at a state Democratic Party dinner, giving Iowans a full picture of the field. Next February’s caucuses in Iowa will kick off the process of selecting the person to run against Republican President Donald Trump in the November 2020 general…

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Uber Posts $5.2 Billion Loss and Slowest Ever Growth Rate

SAN FRANCISCO — Uber set two dubious quarterly records on Thursday as it reported its results: its largest-ever loss, exceeding $5 billion, and its slowest-ever revenue growth.The double whammy immediately renewed questions about the prospects for the company, the world’s biggest ride-hailing business. Uber has been dogged by concerns about sluggish sales and whether it can make money, which were compounded by a disappointing initial public offering in May.For the second quarter, Uber said it lost $5.2 billion, the largest loss since it began disclosing limited financial data in 2017. A majority of that — about $3.9 billion — was caused by stock-based compensation that Uber paid…

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Facebook Said to Be in Talks With Publishers on News Effort

SAN FRANCISCO — Facebook is pitching a new media initiative to license articles from some of the largest American news publishers and display that content inside the social network’s mobile app, according to three people with knowledge of the discussions.The project involves the social network striking deals potentially worth millions of dollars to publishers including The New York Times, The Washington Post and Dow Jones, parent company of The Wall Street Journal, among others, said the people, who spoke on the condition of anonymity because they were not authorized to discuss it publicly.The agreements would let Facebook pull in headlines and previews of the articles from partner…

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Uber loses $5 billion, misses Wall Street targets despite easing price war

(Reuters) - Uber Technologies Inc (UBER.N) reported a $5.2 billion loss and revenue that fell short of Wall Street targets on Thursday as growth in its core ride-hailing business slowed, sending its shares down 6%. FILE PHOTO: Uber's logo is seen on a smartphone screen as a picture of stock exchange graph is displayed on a computer screen in this illustration picture, May 7, 2019. REUTERS/Kacper Pempel/Illustration/File PhotoUber’s net loss, up from a loss of $878 million a year earlier, reflected $3.9 billion of stock-based compensation expenses related to its IPO earlier this year, and Wedbush analyst Ygal Arounian said its loss before interest, tax, depreciation and…

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Why Aren’t We Talking About LinkedIn?

Twitter helps the powerful discover their worst selves and leaves everyone else vulnerable. Facebook brings people together only to subject them to marketing and manipulation. Our social feeds aren’t ready for the 2020 election. None of them are even ready for today. In recent months, they have faced serious scrutiny from Democratic and Republican lawmakers alike. Except one. Is there anything the rest of the internet can learn from LinkedIn? The site arrived in 2003 as an alternative to job-listing databases and steadily established itself as the professional sector of the social web. Like other networks, LinkedIn was, in its early years, a place to keep up…

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Forcing a no-deal Brexit would be ‘abuse of power’, says Labour’s Corbyn

FILE PHOTO: Britain's opposition Labour Party leader Jeremy Corbyn speaks during a rally calling for a general election in London, Britain July 25,2019. REUTERS/Simon DawsonLONDON (Reuters) - Forcing through a no-deal Brexit during an election campaign would be “an unprecedented, unconstitutional and anti-democratic abuse of power” by British Prime Minister Boris Johnson, opposition Labour leader Jeremy Corbyn said on Thursday In a letter to cabinet secretary Mark Sedwill, Britain’s most senior government official, Corbyn said Labour would never support leaving the European Union without a deal and was concerned after reports suggested Johnson would do exactly that. Earlier this month, the Sunday Telegraph said Dominic Cummings, Johnson’s…

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It’s up to EU to avoid no-deal Brexit, says UK foreign minister

MEXICO CITY (Reuters) - Britain’s foreign minister on Thursday pressed the European Union to amend the terms of Britain’s EU withdrawal agreement, saying Brussels would have to take responsibility for a no-deal Brexit if it does not compromise. In an interview with Reuters during a visit to Mexico City, Foreign Secretary Dominic Raab said the British government wanted to leave the European Union with a deal, but would do so without one if EU negotiators did not alter their stance. “If the position from the EU is that the withdrawal agreement can’t be changed - whether it’s add-ons or subtractions - full stop, which is their position…

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UK must leave EU on Oct. 31, PM Johnson says when asked about prospect of resigning

FILE PHOTO: Britain's Prime Minister Boris Johnson speaks during the first meeting of the National Policing Board at the Home Office in London, Britain July 31, 2019. Kirsty Wigglesworth/Pool via REUTERSLONDON (Reuters) - Parliament should honour the 2016 Brexit referendum and leave the European Union on Oct. 31, British Prime Minister Boris Johnson said on Thursday when asked if he would resign if his government lost a vote of no-confidence. Johnson has pledged to take Britain out of the EU at the end of October, with or without a deal, setting himself up for a clash with lawmakers who have vowed to try and stop a no-deal…

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S&P 500 posts biggest daily gain in two months as rebound continues

NEW YORK (Reuters) - The S&P 500 registered its largest one-day percentage gain in about two months on Thursday, with technology shares providing the biggest boost as equities continued to rebound along with bond yields. All major sectors advanced at least 1%, and the S&P 500 technology index, which was at the heart of the recent sell-off, climbed 2.4%. The benchmark S&P 500 extended a rebound that began on Wednesday and closed near its high of the day. The index gained 4% from Wednesday’s intraday bottom to Thursday’s close. Strategists said stock market futures strengthened heading into the day, and bargain hunters stepped in to snap up…

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China trade data calms volatile global markets

NEW YORK (Reuters) - Stronger-than-expected Chinese export data helped push global stock markets higher on Thursday following a volatile week that had investors scrambling for safety on fears of a worldwide economic pullback. Investors were encouraged by data showing Chinese exports rose 3.3% in July from a year earlier, beating an expected decline of 2%. Chinese imports fell less than forecast, despite the U.S.-China trade war. Markets went into a tailspin on Monday after China let its currency weaken beyond 7 yuan per dollar, a surprise move that investors took as retaliation for U.S. President Donald Trump’s announcement of more tariffs on Chinese imports. Investors fear the…

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