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Category: SRN News

Norfolk Southern tops profit estimates as freight demand stays strong

Oct 22 (Reuters) – Norfolk Southern beat Wall Street estimates for third-quarter adjusted profit on Thursday, as the railroad operator benefited from strong freight demand, despite higher fuel costs that were largely recovered through surcharges. Railroads have benefited from tight trucking capacity, as a driver…

SoFi targets idle crypto cash with interest-bearing tokenized deposit

By Niket Nishant and Manya Saini Oct 22 (Reuters) – SoFi Technologies on Thursday launched a “tokenized deposit” product that lets customers earn interest on cash set aside for crypto purchases, while offering protections similar to those of a traditional bank deposit. Cash held in…

Barclays to slash 5,000 jobs in AI-powered cost-cutting drive

By Lawrence White LONDON, Oct 22 (Reuters) – Barclays said it is cutting around 5,000 jobs or 5% of its workforce this year, as it uses technology such as AI to slash fixed costs and improve returns. The job cuts were revealed as Barclays reported…

US railroad operator Union Pacific’s quarterly profit rises

(Corrects typographical error in paragraph 1) Oct 22 (Reuters) – Union Pacific reported a 15% jump in third-quarter adjusted profit on Thursday, helped by higher fuel surcharge revenues and core pricing strength, which more than offset cost pressures. The Omaha, Nebraska-based railroad operator’s adjusted quarterly…

France’s Macron tightens curbs on protests, blaming hard left for unrest

By Michel Rose PARIS, Oct 22 (Reuters) – French President Emmanuel Macron said on Thursday that “illegitimate” protests would be banned in the coming days and blamed “seditious” ultra-left groups and vandals for last weekend’s riots and looting. Speaking after a meeting with intelligence chiefs…

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