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NEW YORK (AP) — Professional networking company LinkedIn is laying off nearly 1,000 employees, or approximately 6% of its global workforce, as a slowdown in hiring amid the coronavirus pandemic pressures its business. In a note to employees, CEO Ryan Roslansky said that the positions that will be eliminated are in its global sales and hiring offices. Roslansky said it's the only layoffs LinkedIn is planning. "To continue adapting and accelerating the company as we have been, we need to ensure we are focusing our efforts and resources against our most strategic priorities to set up the company for success today—and well into the future," Roslansky said in the letter. "When we took a hard look at the business, we decided we needed to make some hard calls."Roslansky said 960 roles across their Global Sales and Talent Acquisition organizations would be eliminated.Impacted U.S. employees will receive at least 10 weeks of severance pay and a year of continuing health coverage through COBRA. LinkedIn will also provide immigration support, career transition assistance, and the option to keep company cell phones, laptops, and other recently purchased equipment for departing employees to be able to work from home.Those being laid off will continue in their roles through Aug. 21.LinkedIn is owned by Microsoft. 1328
NEW YORK -- Police took a man into custody after a 92-year-old woman was shoved and hit her head in an apparent random attack in Manhattan earlier this month.Rashid Brimmage was arrested Tuesday afternoon. The 31-year-old man faces a charge of assault, according to authorities.The incident happened on June 12 just before 3:30 p.m. along Third Avenue between 15th and 16th streets in Gramercy Park, police said.Surveillance video released by police showed the suspect shove the woman as she walked past him on the street. 530
NEW YORK (AP) — Uber shares sunk even further after its disappointing stock market debut as doubts lingered over the company's ability to turn a profit and trade tensions dragged down the overall market.The ride-hailing giant's stock fell 10% and hovered around Monday afternoon on Uber's first full day of trading.The mounting losses followed Uber's disappointing initial public offering. On Friday, it took a 7 million hit — the largest loss on the first day of trading by a U.S.-based company in recent history, according to Renaissance Capital.Uber's earliest investors are still making money off the IPO, but "for late-round investors, it's possible by the time they exit they will end up with a loss," said Jay Ritter, finance professor at the University of South Florida.Among the recent big investors — and perhaps losers — is PayPal, which had disclosed plans to buy 0 million in Uber stock at the IPO price of .Uber has had no trouble convincing venture capitalists to pour money into its earlier funding rounds, but with its unclear path to profitability, it's having a more difficult time with Wall Street investors."It's clearly a high-risk, high-reward scenario. You're betting on something that may happen 10 years down the road," said Matt Kennedy, senior IPO market strategist at Renaissance Capital, a manager of IPO exchange traded funds. "Public investors are looking at profits and not seeing any, and the company's growth in the last quarter was relatively strong, but I don't think it blew anyone away."Uber's main U.S. rival, Lyft, is in a similar spiral. Its stock was trading below on Friday, down 33% from its IPO price of .It's rare to see shares in a tech company hit so hard upon going public. Over the past five years, just 10% of similar companies finished their first day of trading below their IPO price, Kennedy said.Uber's revenue last year surged 42% to .3 billion, but the company admits it could be years before it turns a profit. 2000
NEW YORK (AP) — Carl Reiner, the ingenious and versatile writer, actor and director who broke through as a “second banana” to Sid Caesar and rose to comedy’s front ranks as the creator of “The Dick Van Dyke Show” and straight man to Mel Brooks’ “2000 Year Old Man,” has died. He was 98.Reiner’s assistant Judy Nagy said he died Monday night of natural causes his home in Beverly Hills, California.He was one of show business’ best-liked men, the tall, bald Reiner was a welcome face on the small and silver screens, in Caesar’s 1950s troupe, as the snarling, toupee-wearing Alan Brady of “The Dick Van Dyke Show” and in such films as “The Russians Are Coming, the Russians Are Coming” and “It’s a Mad, Mad, Mad, Mad World.”In recent years, he was part of the roguish gang in the “Ocean’s Eleven” movies starring George Clooney and appeared in documentaries including “Broadway: Beyond the Golden Age” and “If You’re Not in the Obit, Eat Breakfast.”Films he directed included “Oh, God!” starring George Burns and John Denver; “All of Me,” with Steve Martin and Lily Tomlin; and the 1970 comedy “Where’s Poppa?” He was especially proud of his books, including “Enter Laughing,” an autobiographical novel later adapted into a film and Broadway show; and “My Anecdotal Life,” a memoir published in 2003. He recounted his childhood and creative journey in the 2013 book, “I Remember Me.”But many remember Reiner for “The Dick Van Dyke Show,” one of the most popular television series of all time and a model of ensemble playing, physical comedy, and timeless, good-natured wit. It starred Van Dyke as a television comedy writer working for a demanding, eccentric boss (Reiner) and living with his wife (Mary Tyler Moore in her first major TV role) and young son in suburban New Rochelle, New York.“The Van Dyke show is probably the most thrilling of my accomplishments because that was very, very personal,” Reiner once said. “It was about me and my wife, living in New Rochelle and working on the Sid Caesar show."Reiner is the father of actor-director Rob Reiner.His death was first reported Tuesday by the celebrity website TMZ. 2134
NEW YORK (AP) — A new federal report shows vaping rates among U.S. teenagers fell dramatically this year.The drop comes in the wake of last year's outbreak of vaping-related illnesses and deaths.The national survey found that just under 20% of high school students and 5% of middle schools students were recent users of electronic cigarettes and other vaping products.That marks a big decline from a similar survey last year that found about 28% of high school students and about 11% of middle school students recently vaped. That's a decline of about 1.8 million teens total.The survey was done by the U.S. Food and Drug Administration and Centers for Disease Control and Prevention. They looked at survey data from middle school and high school students, grades 6-12.Despite the progress in lowering the number of teens using e-cigarettes, there are 3.6 million youth who currently use them. Of those, almost 83% use flavored e-cigarettes or vaping products.In addition to the survey, the FDA announced their premarket review requirement of tobacco products to ensure they go through a “robust scientific evaluation” before hitting store shelves. 1156