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LA Times staff walk out over job cut threats
LA Times staff walk out over job cut threats
Economy
by  AFP

Unionized journalists at the Los Angeles Times walked off the job Friday for the first time in the paper's 142-year history, after management said it planned significant job cuts to help plug a gaping financial hole. No official number was put on the planned job cuts, but reports said it could be at least 100 journalists -- around a fifth of the newsroom.

US Fed official says 'premature' to expect rate cuts soon
US Fed official says 'premature' to expect rate cuts soon
Economy
by  AFP

The US Federal Reserve's fight against inflation is far from over and it is "premature" to expect rate cuts around the corner, a senior US central bank official said Friday. The interventions from Fed officials this week appear to have changed market perceptions of when the US central bank will start loosening monetary policy, with futures traders now far less confident of a March rate cut.

Sports Illustrated magazine lays off staff
Sports Illustrated magazine lays off staff
Economy
by  AFP

Staff at Sports Illustrated, the famed American sports magazine that became a fixture for athletes and fans, were laid off on Friday by publisher The Arena Group, according to the SI employees union.