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US auto sales rate highest since 2005

The US auto industry defied all odds to record highest sales rate in a decade, hitting 17.81 million in total sales, according to Autodata. The sales improved as consumers continued to show interest in pickup trucks and...


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Stocks fall amid China jitters

World stocks and commodity prices plunged further today as poor Chinese data raises fear over China's falling economy. Asian stocks had swooned overnight and the sentiment was nothing different in Europe as the pan...


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Europe, Asia stocks stare at worst monthly drop in three years

European and Asian stocks today set to record their worst monthly losses in at least three years, with investors still worried about Chinese economy and the prospect of higher U.S. interest rates.


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Schlumberger reaches agreement to acquire Cameron

Schlumberger Limited and Cameron jointly announced a definitive merger agreement in which the companies will combine in a stock and cash transaction. The agreement has received the unanimous approval from the boards...


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Chinese shares remain volatile as global markets turn mixed

Shanghai stocks oscillated between big losses and gains today, losing 1.3 percent despite the rate cut in China. The markets showed missed response across the rest of Asia, with the markets in Japan and South Korea...


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Wall Street to regain amid China stocks fall

European markets rebounded and Wall Street stock futures advanced several hours ahead of the US open on Tuesday. Dow, Nasdaq and S&P 500 stock index futures jumped over 3% and European benchmarks saw similar gains...


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Global shares fall as Chinese losses affects markets

Stock markets in London, Paris and Frankfurt have plunged as a result of losses suffered by Chinese stock market. London's FTSE 100 index plunged 2.6% in morning trade, with major markets in France and Germany also...


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HP stumbles on falling PC, corporate demand

The earnings outlook of Hewlett-Packard Co fell short of estimates before a breakup designed to improve growth prospects. The less than expected earnings outlook has left the investors disappointed as they were looking...


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Greece repays EUR 3.4 billion to ECB

Greece has repaid 3.4 billion euros ($3.79 billion) due to the European Central Bank Thursday in the form of redemption of a government bond. Athens succeeded in repaying the loan after it was announced...


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Target finalizes deal to settle breach claims with Visa

Target and Visa have reached a deal under which the former has agreed to pay $67 million to settle Visa claims related to a massive 2013 data breach that led to the theft of millions of debit and credit card numbers.


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Amazon rejects accusations of 'brutal' worker treatment

Amazon employees have launched a spirited fight back against accusations that the e-commerce giant does not treat its workers properly. Amazon CEO Jeff Bezos, in a widely distributed staff memo, rebutted a New York...


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Germany charges Deutsche Bank employees in emissions trading case

Tax evasion charges have been filed against eight current and former Deutsche Bank employees by German prosecutors for allegedly participating in a value-added tax fraud scheme involving carbon dioxide emissions certificates.


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Pearson agrees to sell entire stake in Economist magazine publisher

London-based Pearson on Tuesday announced that it would sell its 50 percent stake in the publisher of the Economist magazine to Italian investment group Exor. The move comes at a time when the company is focusing on...


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Greece bailout deal agreed 'in principle'

The European Commission today said that Greece has "in principle" agreed a bailout deal with its creditors. The EC added that both sides have reached a technical agreement and the deal now requires political approval...


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Alibaba to invest $4.6BLN in electronics retailer Suning

Chinese company Alibaba Group Holding Ltd today announced that it will invest 28.3 billion yuan ($4.56 billion) in electronics retailer Suning Commerce Group Co Ltd. Alibaba is China's leading e-commerce player, while...


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SEC adopts rules mandating disclosure of CEO-worker pay ratios

The US Securities and Exchange Commission (SEC) on Wednesday adopted new rules under which it will become mandatory for the companies to provide investors with a ratio showing how the median pay of their workforce...


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Dollar gains on Fed rate bets

The dollar touched its highest in over three months on Wednesday and U.S. Treasury yields rebounded from two-month lows, after the announcement by a Federal Reserve official that the central bank was planning to raise interest rates.


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Greek banking stocks continue to fall as debt crisis dominates

Greece's banking stocks continued to fall for the second consecutive day today, bringing the main Athens index down and sending a message that the country's continuing financial and economic woes are still far from...


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BMW, Daimler, Audi acquire Nokia's maps business

Germany's biggest auto makers - BMW, Daimler and Audi - have bought Nokia Corp's digital mapping business, in a GBP 2.8 billion ($3.1 billion) acquisition. The modern technology is vital for self-driving cars and analysts...


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Pacific Rim free trade talks fail to reach a conclusion

Pacific Rim trade ministers on Friday did not succeed in reaching an agreement to free up trade between a dozen nations after they failed to reach a deal over auto trade between Japan and North America, New Zealand dug...


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Shell to cut 6,500 jobs on oil price fall

Royal Dutch Shell today announced that it would sack 6,500 employees this year due to falling oil prices. With crude oil futures plunging for the last one year, the biggest domestic energy provider Centrica said it too would...


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VW races past Toyota to become world's biggest automaker

Japanese automobile giant Toyota has fallen behind Volkswagen in world's biggest automaker title race, figures released on today showed, as the German company managed to outsold Toyota in the first half of the year.


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Teva dumps Mylan, acquires Allergan's generics arm

In a move which will end Teva Pharmaceuticals Industries Ltd's hostile bid for Mylan NV, the Israeli drugmaker has agreed to buy the generic-drug business of Allergan Plc for about $40.5 billion in cash and stock.


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Wal-Mart buys out China e-commerce firm Yihaodian

Retail giant Wal-Mart Stores Inc has acquired Chinese e-commerce firm Yihaodian.com, buying out the 49 percent stake. The move is seen as a serious attempt by the US retail major to accelerate its online push.


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Two Israelis arrested in JPMorgan hacking named

Two Israelis arrested in the hacking at JPMorgan's computers have been named and they are 40-year-old Gery Shalon and 31-year-old Ziv Orenstein from the Sharon area.


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Apple announces weak forecast, shares fall

The shares of electronics giant Apple fell nearly 7 percent in after-hours trading as its fourth-quarter revenue forecast fell short of estimates and the company failed to achieve some targets for iPhone sales.


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Toshiba credit rating may fall after accounts scandal

The $1.2 billion accounting scandal of Toshiba has already forced its chief executive and vice-chairman to resign and now the credit rating of company is in line to face the heat.


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Schneider Electric acquires majority stake in Aveva

British engineering company Aveva Group today announced that it will acquire Schneider Electric's industrial software business. As part of the deal, the French industrial group would get a majority stake in the company...


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Greek debt crisis: Banks reopen, taxes hiked to boost economy

Banks across Greece reopened today after a three-week shutdown imposed by the government with an aim to stop a run on ATMs from crashing the financial system, but Greeks today s woke up to significant price hike in...


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Bank of America records more than double quarterly profit

Bank of America on Wednesday announced that its profit in the second-quarter of the current fiscal has more than doubled from a year ago, surpassing the expectations of the analysts.


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