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Facing opposition from both sides of the aisle, Larry Summers pulling out of the race for fed chairman. The onetime Clinton Administration secretary called the president to notify him. In a letter following the call, he wrote, i have reluctantly concluded that any possible confirmation for me would be acrimonious and would not serve the interest of the federal reserve, the administration or ultimately the interests of the nations john gog economic recovery. Janet yellen seen as a leading candidate, seen by the markets as less likely to scale back the Stimulus Program as aggressively as summers...

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For a six month period starting in June 2022, 61 UK companies reduced their employees' working hours by 20 per cent, with no changes made to their salary.

A recent pilot saw 61 UK companies reduce working hours for all staff by 20 per cent for six months from June last year, with no cut in wages.

Durham-based Atom Bank rushed to the defence of the radical working pattern in the wake of reports that workers involved in the world's biggest four-day week pilot had expressed concerns.