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Elon Musk denies allegations he sexually harassed flight attendant in 2016

Billionaire Elon Musk took to Twitter late on Thursday to denounce as "utterly untrue" claims in a news report that he had sexually harassed a flight attendant on a private jet in 2016.
Business Insider reported earlier on Thursday that Musk's SpaceX paid $250,000 in 2018 to settle a sexual harassment claim from an unnamed private jet flight attendant who accused Musk of exposing himself to her.
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G7 countries to provide US$19.8 billion in aid to Ukraine

The Group of Seven leading economies and global financial institutions are providing US$19.8 billion in aid to bolster Ukraine's public finances, Germany's finance minister said Friday.
Christian Lindner told reporters that $9.5 billion of the total was mobilized at meetings of the G7 finance ministers in Koenigswinter, Germany, this week.
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Biden opens Asia trip with global issues and tech on agenda

U.S. President Joe Biden on Friday opened his Asia trip by highlighting the computer chip shortage that has bedevilled the world economy, touring a Samsung computer chip plant that will serve as model for a US$17 billion semiconductor factory the Korean electronics company plans to open in Texas.
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The stakes are high as Canadian farmers take to the fields to plant 2022's crop, which some are saying could find a place in the record books as "the most expensive ever."
On her family's farm northeast of Calgary near Acme, Alta.
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Elon Musk denies he sexually harassed flight attendant on private jet: report

Billionaire Elon Musk took to Twitter late on Thursday to denounce as "utterly untrue" claims in a news report that he had sexually harassed a flight attendant on a private jet in 2016.
Business Insider reported earlier on Thursday that Musk's SpaceX paid US$250,000 in 2018 to settle a sexual harassment claim from an unnamed private jet flight attendant who accused Musk of exposing himself to her.
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Wall Street, global markets bounce back on China's rate cut

Wall Street pointed toward gains before the opening bell Friday after a surprise interest rate cut from China lowered, at least temporarily, the anxiety over a slowdown in the world's second-largest economy.
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Why high oil prices aren't creating an economic boom in Canada

The sky high price of gasoline is pushing many Canadians to their financial limits. Usually when this happens, the pain at the pumps is offset by a burst in growth for the Canadian economy. High oil prices used to mean a surge in investments and hiring.
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U.S. stocks open higher at the end of another bruising week

Stocks are off to a solid start on Wall Street Friday but are still headed for another week of declines following a massive pullback two days ago. The S&P 500 rose 0.8% in the first few minutes of trading.
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Canada set to ban Chinese tech giant Huawei from 5G network

Canada is planning to ban Huawei from working on Canada's fifth-generation networks, according to a source familiar with the decision.
The move puts Canada in line with key intelligence allies like the United States which have expressed concerns about the national security implications of giving the Chinese tech giant access to key infrastructure.
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China needs Russian coal. Moscow needs new customers

China is buying record amounts of cheap Russian coal, even as Western nations slam Moscow with sanctions over the invasion of Ukraine.
In April, not only did the world's second largest economy buy more coal from Russia than ever before, it also eliminated import tariffs on all types of coal, a move analysts say will mainly benefit Russian suppliers.
 

New Zealand hands out extra cash to fight 'inflation storm'

New Zealand's government said Thursday it will hand out an extra few hundred dollars to more than 2 million lower-income adults to help them navigate what it describes as “the peak of the global inflation storm.
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China slashes key interest rate as housing sales collapse

China on Friday slashed a key interest rate to rescueits slumping housing market and head off a major downturn inthe world's second largest economy.
The People's Bank of China cut its five-year loan prime rate (LPR) by 15 basis points to 4.45%, the second reduction this year and the largest on record.
 

FDA head: Baby formula factory could reopen by next week

The head of the Food and Drug Administration told lawmakers Thursday that a shuttered baby formula factory could be up and running as soon as next week, though he sidestepped questions about whether his agency should have intervened earlier at the plant at the center of the national shortage.
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