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Viacom Q1 earnings plunge

Multinational media company Viacom on Tuesday reported a 10% fall in its fiscal first quarter net income due to weak advertising sales and the sluggish movie business. The company's net income for the quarter ended...


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UN panel proposes standard on airlines' Carbon emissions

In an apparent effort to bring the aviation industry under the effort launched across the globe to fight climate change, a proposal has been put forward by a UN panel regarding the world's first-ever standards for...


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Crude oil slips as Saudi, Venezuela meeting fails to yield anything substantial

Crude oil prices went down on Monday as a meeting between OPEC producers Saudi Arabia and Venezuela did not send a message that the OPEC nations would take new steps to boost prices.


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Ponzi scheme in China supported by state media

Ding Ning, 34, rose to prominence within no time and throughout his journey he went to great efforts to convey the image of strong government backing for his Internet financing business.


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Credit Suisse to cut 4,000 job amid big Q4 loss

Swiss banking giant Credit Suisse is going to fire around 4,000 employees in a bid to bring down costs after announcing a massive pre-tax loss in the fourth quarter that includes "substantial charges which are...


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Yahoo unveils big job cuts, opens door to deal

Yahoo on Tuesday announced that it is slashing around 15 percent of its workforce and narrowing its focus as it explores "strategic alternatives" for the future. The company made the announcement followed by the...


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Alphabet jumps past Apple to become most valuable firm

Google-parent Alphabet has raced ahead of Apple to become the most valuable firm in the world based on the value of shares which jumped more than the analysts' estimates. At the official close of trade, Alphabet was worth...


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Oil prices fall on weak Asian data, bleak prospect of output cut

Oil prices plunged on Monday after the posting of weak economic data by China and South Korea. Chinese data revealed that its manufacturing sector had contracted at the fastest pace since 2012 in January, raising serious...


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Xerox to split itself in two following pressure from Carl Icahn

Tech giant Xerox on Friday announced its decision to give up on its strategy to combine services with its traditional office machine business, announcing that it will split itself into two companies.


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Samsung posts 40% fall in Q4 net profit

South Korean electronics giant Samsung today reported a 40 percent on-year drop in fourth-quarter net profit. It is notable that Samsung is the world's top handset maker but the company is facing strong high-end...


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Toyota retains the crown of top global automaker

Japanese automobile giant Toyota on Wednesday emerged as world's biggest automaker for the fourth straight year after announcing that it sold 10.15 million vehicles last year, racing ahead of rivals like Volkswagen...


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Labor ruling says Wal-Mart violated law

After a federal administrative law judge gave the decision that Wal-Mart has violated the National Labor Relations Act in the way it handled the employees, who were on strike in 2013, the retailer is now reassessing...


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Barclays cutting 1,000 jobs

Barclays Plc Chief Executive Officer Jes Staley has approved a fresh round of job cuts at the bank and he is now planning to slash 1,000 jobs worldwide and exit several Asian countries. The UK-based bank is planning to cut...


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Johnson & Johnson to cut 3,000 jobs in medical devices unit

World's largest healthcare company Johnson & Johnson on Tuesday announced that it would axe 3,000 employees at its medical devices unit in order to save up to $1bn a year in costs. The move is a part of a restructuring...


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China stocks advance most in two months

Chinese stocks gained the most in two months as weaker-than-estimated economic data sparked speculation of increased stimulus. The shares, however, advanced on prospects of state-fund buying. The Shanghai Composite...


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Brent Crude touches 12-year low of $28 as Iran's Oil to swell glut

Brent crude touched a new 12-year low in London, briefly plunging below $28 a barrel, day after the international community decided to lift sanctions on Iran. Futures lost as much as 4.4 percent in London to the lowest...


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Wal-Mart to shut down 269 stores

Supermarket giant Wal-Mart on Friday announced that it soon close 269 stores in the United States and overseas, as it is finding it tough to beat the competition from online retail giant Amazon. The Bentonville-based giant...


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General Electric to shift headquarters to Boston

America's largest industrial company General Electric (GE) on Wednesday announced that it will move its headquarters to Boston. The company currently has a sprawling campus in suburban Connecticut. GE started...


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Oil prices gain after declining below $30

Oil prices gained in Asia today, halting a rapid fall that saw crude fall below $30 a barrel for the first time in over a decade, but analysts said that it would increase the pressure on the commodity.


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Delta flies past United to become No 2 US airline

Delta Air Lines Inc on Tuesday edged United Continental Holdings Inc to become the second-largest airline in the US. The development is important because Delta has topped United for the first time since the change...


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China's Dalian Wanda has officially acquired Legendary Entertainment

Chinese real estate and investment conglomerate Dalian Wanda Group today announced that it has acquired Legendary Entertainment for $3.5 billion. The two companies signed the deal at a lavish signing ceremony in Beijing...


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ChemChina acquires German plastics maker KraussMaffei for $1 billion

The China National Chemical Corporation on Monday announced its decision to buy the KraussMaffei Group, a German manufacturer of plastics and rubber processing machinery, for about $1 billion. China National...


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United Airlines' CEO undergoes heart transplant, likely to return later than

United Continental Holdings Inc on Wednesday announced that its said Chief Executive Oscar Munoz underwent a heart transplant and he may return to office of the second-largest U.S. airline by the spring, which...


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Pressure mounts on Saudi to ditch dollar peg

The continuous fall in the oil prices has left Saudi Arabia's long-standing peg of its currency to the dollar at a very vulnerable point. For almost three decades, the oil-rich Middle East nation has managed to hold the...


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Chinese firm Dalian Wanda may acquire majority stake in Legendary Entertainment

The Chinese conglomerate Dalian Wanda Group is in talks to buy a majority stake in a Hollywood production company Legendary Entertainment. The Chinese firm already owns the AMC chain of multiplex cinemas. Legendary...


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Billionaire Bill Ackman slashes stake in Valeant

Billionaire businessman Bill Ackman, who is one of the staunchest defenders of Valeant Pharmaceuticals, has trimmed his stake in the beleaguered drug company, citing tax reasons. In a regulatory filing, Ackman's...


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Buffett subsidiary faces fresh misconduct allegations

The mobile home subsidiary of Warren Buffett's Berkshire Hathaway is facing renewed misconduct claims. For its part the company has rejected accusations that it exploits minorities. The investigation in this matter...


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Cold temperatures boost oil prices but market still weak

Oil prices stabilized today as falling temperatures in the US and Europe raised the prospect of increase in demand of oil. Experts maintain that the gains in oil prices could still be undercut by worries over...


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China Telecom shares decline amid probe into chief

China Telecom's shares plunged around three percent Monday after reports surfaced revealing that the company's boss was under probe. China Telecom is one of big-three telcos in China. The shares of the company traded as...


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US jobless claims near 42-year low

The jobless claims in the US fell more than expected last week, touching a 42-year low as labor market conditions continued to tighten in order to add strength to the economy. The Labor Department said in a statement...


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