Recession risk, rate rises drive down private equity deal volumes to 4-year low

By Patturaja Murugaboopathy (Reuters) – Dealmaking by private equity firms hit its lowest in four years, under pressure from high interest rates, recession fears, and a weak outlook for corporate earnings, although some analysts predict stored-up funding will drive a near-term rebound. Private equity deal volumes slumped 63% from the same period last year to…

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Hollywood directors ratify labor pact as writers keep picketing

By Lisa Richwine and Steve Gorman LOS ANGELES (Reuters) – Film and television directors voted overwhelmingly to ratify a new three-year labor contract with major Hollywood studios on Friday, averting a second work stoppage that would have added to upheaval caused by an ongoing writers’ strike. The Directors Guild of America (DGA) said 87% of…

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Explainer-PwC Australia fights to contain government tax leak scandal

By Lewis Jackson and Scott Murdoch SYDNEY (Reuters) – PricewaterhouseCoopers (PwC) Australia has moved to contain the fallout from a scandal over the misuse of confidential government tax plans by selling its government consulting unit to Allegro Funds and flying in an executive from Singapore to lead the local firm. Here is what you need…

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New York lawyers sanctioned for using fake ChatGPT cases in legal brief

By Sara Merken NEW YORK (Reuters) – A U.S. judge on Thursday imposed sanctions on two New York lawyers who submitted a legal brief that included six fictitious case citations generated by an artificial intelligence chatbot, ChatGPT. U.S. District Judge P. Kevin Castel in Manhattan ordered lawyers Steven Schwartz, Peter LoDuca and their law firm…

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Japan’s top currency diplomat escalates warning against weak yen

By Tetsushi Kajimoto TOKYO (Reuters) -Japan is not ruling out any options in responding appropriately to excessive currency moves, its top currency diplomat said on Monday, stepping up warnings against recent yen weakening that was “rapid and one-sided”. Currencies should move in a stable way, reflecting fundamentals, the government said, after the yen weakened beyond…

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Sweden sees ’cause for concern’ on retailer margins as food prices surge

By Marie Mannes STOCKHOLM (Reuters) – Sweden’s competition authority has expressed concern about margins being charged by supermarkets and wholesalers as it probes possible profiteering in a country that saw the largest food price increases in the Nordics this year. Food inflation is a key driver of the cost-of-living crisis in a number of European…

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