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Thomson Reuters is eliminating 12 percent of its global workforce.The media company is drastically shrinking its staff, cutting 3,200 jobs and closing 55 offices by 2020. Reuters says it will employ roughly 23,800 people — down from its current workforce of 27,000.Reuters revealed its plans for the future at its annual investor day in Toronto. The stock is up 3 percent on the news."Thomson Reuters is routinely looking at ways to run our global business operations more efficiently and effectively," a Reuters spokesman told CNN Business."This disciplined approach sometimes includes the need to make personnel, or other, changes which allow us to balance our internal resources with the needs of our customers in a highly competitive environment."The company said a "majority" of the impacted employees have been notified, but it declined to say which divisions are affected.Part of Reuters' plans includes reducing its capital expenditures by 3 percent and cutting the number of products it sells. The company sells a newswire service, financial software, images and services for the legal industry.In October, Reuters sold a majority stake of its Financial and Risk unit to the private equity firm Blackstone Group for billion. Reuters joins other media companies in recently announcing layoffs. News startup Mic, newspaper New York Daily News and magazine publishers Meredith and Hearst all have recently eliminated a combined hundreds of jobs. 1463

THERMAL, Calif. (AP) — Authorities say a man has been arrested in Southern California after deputies found about 800 pounds of stolen lemons inside his car.Riverside County sheriff's officials say 69-year-old Dionicio Fierros was arrested Friday on suspicion of theft of agricultural products.Deputies were investigating recent farm thefts when they stopped Fierros' car in Thermal on Friday morning.Inside his car, deputies say they found several large bags of freshly picked lemons they believe were stolen from a nearby farm.A telephone number for Fierros could not be located in public records and it wasn't immediately clear if he had an attorney who could comment on the allegations. 697

Those in the United States on a student visa could be booted from the country this fall if they are not attending in-person classes, the US Immigration and Customers Enforcement agency announced Monday.At universities that are planning on going online only, students will need to transfer to a university with in-person classes or face being deported from the US. This also means at universities where students have the choice between online and in-person courses, they will need to mostly take in-person courses. This could be an issue for students considered at a high risk of developing complications from the coronavirus. Amid the coronavirus, most universities have stated plans to resume in the fall with in-person courses. But with cases surging around the country brings uncertainty on whether universities will be able to conduct in-person classes.On Monday, Harvard announced plans to hold online courses with limited in-person services. Harvard’s plan will allow for freshmen to live on campus while the rest of the university will mostly be kept away from Harvard.“Harvard was built for connection, not isolation. Without a vaccine or effective clinical treatments for the virus, we know that no choice that reopens the campus is without risk,” the president and deans wrote. “That said, we have worked closely with leading epidemiologists and medical experts to define an approach that we believe will protect the health and safety of our community, while also protecting our academic enterprise and providing students with the conditions they need to be successful academically.”Princeton also announced Monday that most of its courses will be held online. Princeton said it would work with international students who might not be allowed to enter the US due to visa restrictions.“For undergraduates living abroad who are unable to return to campus, there will be some limitations on which courses are available to students who are not in residence,” Princeton said in a press release. Acknowledging time zone and other limitations unique to those living overseas, faculty members and administrators will make every effort to ensure that students studying from abroad will be able to participate in the virtual curricular and co-curricular aspects of the Princeton experience.” 2299

T-Mobile and Sprint finally agreed to a massive telecom merger after years of negotiations punctuated by two breakups.The  billion merger, announced Sunday, values Sprint near its current share price of .50.The tie-up would position the telecom companies as fiercer competitors to Verizon and AT&T, which have long dominated the US market."I'm excited to announce that @TMobile & @Sprint have reached an agreement to come together to form a new company -- a larger, stronger competitor that will be a force for positive change for all US consumers and businesses! Watch this & click through for details." said T-Mobile CEO John Legere, in a tweet Sunday.A report that the deal was getting close drove up Sprint's stock price by 8% on Friday and T-Mobile's price edged up as well. The stock price for SoftBank, a Japanese conglomerate with a majority stake in Sprint, rose by 3%.Sprint and T-Mobile first discussed a merger in 2014 but scrapped it because of concerns about regulatory challenges from the Obama administration.The companies expected to have a better shot at the merger under the Trump administration.Sprint stock tanks as T-Mobile merger said to collapseSoftBank CEO Masayoshi Son met with Trump the month before he took office to talk up an investment in US businesses.A few weeks later, T-Mobile's Legere said he was open to "various forms of consolidation" when asked about a potential merger with Sprint and SoftBank under the Trump administration.But last November, after much speculation, the two companies issued a statement saying they "have ceased talks.""While we couldn't reach an agreement to combine our companies, we certainly recognize the benefits of scale through a potential combination. However, we have agreed that it is best to move forward on our own," Marcelo Claure, the Sprint CEO, said at the time.Sprint and T-Mobile's announcement is just the latest step in an ongoing movement towards telecom consolidation. AT&T is in talks to acquire Time Warner, which owns CNN and CNNMoney. The outcome of that billion merger-in-the-making depends on a case in federal court, which is pending the decision of the judge. 2203

There is a nasty rumor out there that @SenatorCollins of Maine will not be supporting our great United States Supreme Court Nominee. Well, she didn’t support Healthcare or my opening up 5000 square miles of Ocean to Maine, so why should this be any different. Not worth the work!— Donald J. Trump (@realDonaldTrump) October 16, 2020 340

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