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Stay ahead of the curve with our rapid-fire roundup of today’s most impactful financial news, tailored to keep you informed and ready to seize opportunities.”
- OPEC+ announces significant oil production cuts
- WWE and UFC to merge under Endeavor Group control
- Starbucks fires union-organizing worker
- Ukraine denies Russian claims on Bakhmut
OPEC+ Oil Production Cuts
Oil prices experienced a boost as OPEC+, led by Saudi Arabia, committed to reducing oil production this year. The decision, aimed at raising prices, could complicate central banks’ efforts to combat inflation. This follows Russia’s announcement of cutting its oil output by 500,000 barrels per day in response to sanctions imposed over its invasion of Ukraine.
WWE and UFC Unite under Endeavor Group
WWE and UFC announced their merger under the control of Endeavor Group, with Ari Emanuel as CEO. Valued at $9.3 billion and $12.1 billion respectively, both organizations will operate under a single, yet-to-be-named company separate from Endeavor. Vince McMahon and Dana White will maintain leadership roles.
Starbucks Fires Union Organizer
Starbucks dismissed Alexis Rizzo, a key figure in the barista union push, causing backlash from Starbucks Workers United. The termination occurred shortly after former CEO Howard Schultz defended the company’s labor practices during a Senate hearing. Starbucks cited Rizzo’s tardiness as the reason for her dismissal, which Rizzo disputes.
Ukraine Denies Bakhmut Capture
Ukraine’s government dismissed claims from Wagner mercenary group’s leader that Russian forces captured the eastern Ukraine town of Bakhmut. The ongoing battle over Bakhmut has become emblematic of the war, now in its second year. Ukraine continues to assert control over the town, urging the public to disregard false claims.
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