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PayPal Pulls Out of Libra, Facebook’s Cryptocurrency Project

SAN FRANCISCO — PayPal said on Friday that it had pulled out of the coalition of companies involved in a Facebook-backed cryptocurrency initiative, in the latest headache for the social network’s effort.The proposed cryptocurrency, Libra, has been in the works at Facebook for more than a year and was announced to much fanfare in June. Libra was designed to function as a cryptocurrency that could be freely traded inside Facebook’s properties, like Messenger and WhatsApp, and would be used for international exchange. At the time, Facebook said more than 27 corporate partners — including PayPal, Visa, Mastercard and companies like Uber — had pledged to support the…

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‘Goldilocks’ jobs data propels Wall St to best day since August

(Reuters) - Wall Street surged on Friday after moderate jobs growth in September offered relief from a spate of dismal economic data this week that has rankled markets and fueled concerns that the world’s largest economy may be sliding into a recession. A rally in technology stocks led by Apple Inc (AAPL.O) also helped lift the benchmark indexes at the end of a rollercoaster week. After losing about 3% over Tuesday and Wednesday, the S&P 500 .SPX on Friday logged its biggest one-day gain since Aug. 16, thanks in part to a late-session surge. Still, for a third consecutive week the Dow and S&P 500 lost ground.…

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Atlanta Asks Google Whether It Targeted Black Homeless People

Atlanta officials are seeking answers from Google after a news report said that company contractors had sought out black homeless people in the city to scan their faces to improve Google’s facial-recognition technology.The New York Daily News reported on Wednesday that a staffing agency hired by Google had sent its contractors to numerous American cities to target black people for facial scans. One unnamed former worker told the newspaper that in Atlanta, the effort included finding those who were homeless because they were less likely to speak to the media.On Friday, Nina Hickson, Atlanta’s city attorney, sent a letter to Google asking for an explanation.“The possibility that…

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House Democrats demand documents from Pence as impeachment probe widens

WASHINGTON (Reuters) - U.S. House Democrats on Friday asked Vice President Mike Pence to hand over documents relating to a meeting he held with Ukrainian President Volodymyr Zelenskiy and a call between Zelenskiy and President Donald Trump that is at the center of their widening impeachment probe. The Democratic chairmen of the three House committees leading the impeachment investigation of Trump gave Pence until Oct. 15 to produce any records relating to the July 25 call and a meeting he held with Zelenskiy on Sept. 1. During the call, Trump pressed Zelenskiy to launch an investigation into former Vice President Joe Biden, a leading Democratic presidential candidate,…

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Tesla automated parking problems seen liability of app ‘driver’ for now

(Reuters) - Tesla Inc owners summoning their driverless cars in parking lots are likely liable for crashes, lawyers said after a series of internet videos showed problems with cars running new software. Tesla vehicles are shown on a delivery truck in Los Angeles, California, September 27. 2019. REUTERS/Mike BlakeIf the accidents pile up, though, Tesla itself is sure to be brought into a legal fight, insurance industry experts said. The incidents highlight a shifting landscape for long-held assumptions about auto insurance and accident blame as more car manufacturers offer features that can automate parallel parking, avoid collisions, and take over steering during traffic, among other things. A…

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Meat industry sues California for animal protection ‘overreach’

(Reuters) - California was sued on Friday by the largest U.S. trade group for meat packers and processors, which wants to block enforcement of a voter-approved measure requiring farmers to provide more space for animals being raised for food. FILE PHOTO: Cattle graze at Rancho Feeding Corporation in Petaluma, California February 10, 2014. REUTERS/Beck Diefenbach/File PhotoThe North American Meat Institute, whose members include processors such as Tyson Foods and retailers including Walmart, said enforcing Proposition 12 would hurt producers and consumers by significantly increasing their costs. It also said the measure, which passed last November with 63% of the vote, was an “overreach” that violated the U.S.…

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Schiff says inspector general correct in deciding whistleblower complaint was urgent, credible

Intelligence Community Inspector General Michael Atkinson departs after testifying at a House Intelligence Committee closed-door hearing on a whistleblower complaint about President Donald Trump's dealings with Ukraine, on Capitol Hill in Washington, U.S., October 4, 2019. REUTERS/Jonathan ErnstWASHINGTON (Reuters) - The U.S. intelligence community’s inspector general was correct in deciding a whistleblower complaint against President Donald Trump was urgent and credible, House Intelligence Committee Chairman Adam Schiff said in a statement on Friday. Inspector General Michael Atkinson testified before a closed-door hearing of Schiff’s panel on Friday about the complaint, which is at the center of a House of Representatives impeachment inquiry of Trump. Reporting by Eric…

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U.S. top court to weigh prohibition on encouraging illegal immigration

FILE PHOTO: People are pictured on the stairs outside of the U.S. Supreme Court in Washington, D.C., U.S., June 17, 2019. REUTERS/Leah Millis/File PhotoWASHINGTON (Reuters) - The U.S. Supreme Court on Friday agreed to hear a bid by President Donald Trump’s administration to resurrect a federal law that makes it a felony to encourage illegal immigrants to come or stay in the United States after it was struck down by a lower court as a violation free speech rights. In a case involving a California woman named Evelyn Sineneng-Smith convicted of violating the law, the justices will review a ruling by the San Francisco-based 9th U.S. Circuit…

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Exclusive: Antitrust probers in Congress ask Spotify to detail alleged Apple abuses – sources

(Reuters) - U.S. lawmakers have requested information from Apple critic Spotify as part of an antitrust probe, according to two sources briefed on the investigation into allegations the iPhone maker engages in anti-competitive behavior to support its own apps. FILE PHOTO: A screen displays the company logo and trading info for Spotify on the floor at the New York Stock Exchange (NYSE) in New York, U.S., March 13, 2019. REUTERS/Brendan McDermidThe U.S. House of Representatives Judiciary Committee reached out to the music streaming service with broad requests for information, according to one source, who added the request to the company was narrowed in follow up telephone calls.…

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U.S. Chamber of Commerce, other business groups oppose Trump on ‘Dreamers’

FILE PHOTO: The logo of Amazon is seen at their new warehouse during its opening announcement on the outskirts of Mexico City, Mexico July 30, 2019. REUTERS/Carlos Jasso/File PhotoWASHINGTON (Reuters) - The U.S. Chamber of Commerce, other business groups and companies including Amazon.com Inc and Alphabet Inc’s Google have filed a brief at the U.S. Supreme Court opposing President Donald Trump’s effort to end a program that protects from deportation hundreds of thousands of immigrants who were brought into the United States illegally as children. The Supreme Court is set to hear arguments on Nov. 12 over Trump’s 2017 plan to rescind the Deferred Action for Childhood…

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