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Breach exposes IRS tax returns

Internal Revenue Service on Tuesday revealed that stolen data were used by criminals to gain access to past tax returns of more than 100,000 people through an application on the website of the agency.


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Ryanair profits rise by 66%

Irish airline Ryanair recorded a 66 percent jump in profit after tax for the year to March after the number of passengers jumped around three times the targeted level.


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Time Warner Cable boss Rob Marcus set for payday

Time Warner Cable's chief executive Rob Marcus is all set to receive a handsome payday. Marcus last month saw a $45bn deal with the largest US cable operator, Comcast, slip away, but he is now preparing to announce a $55bn...


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China slashes import tax on clothes, other goods

Chinese government today announced its decision to cut import taxes on clothing, cosmetics and some other goods by half. The move is seen as an attempt by the government to boost consumer spending and economic growth. It is...


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Altice acquires Suddenlink for $9.1 billion

European telecommunications company Altice today agreed to acquire a majority stake in Suddenlink Communications for $9.1 billion. Suddenlink is a privately held American cable operator and its acquisition marks the entry of Altice...


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UBS to pay $545 million over forex scandal

Zurich-based UBS has agreed to pay $545 million to U.S. authorities in order to settle an investigation into alleged manipulation of currency rates.


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Starbucks, Spotify forge partnership to create a new 'music ecosystem'

Coffee chain Starbucks and Spotify have joined hands to create a completely new 'music ecosytem' for the customers of Starbucks.


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Kering suit over fake Gucci sales baseless, Alibaba claims

China's largest e-commerce firm Alibaba Group Holding Ltd has vowed to fight a new lawsuit accusing the company of selling counterfeit merchandise online.


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Hackers steal money through Starbucks mobile ap

Hackers stole the money of several Starbucks customers through Starbuck's mobile app in a latest attack, as told by the firm on Friday. The attackers took the advantage of the app's auto-load feature, the unrestricted...


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Cisco gets ready to welcome new CEO

Cisco Systems Inc is set to say goodbye to its current Chief Executive John Chambers, who last announced his resignation after remaining at the helm for two decades.


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Euro hits three-month high

The euro today hit a three-month high against the dollar, drawing some more support from a sustained surge in euro zone government bond yields that still succeeded in keeping global stock markets on the defensive.


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Greece slips back into recession

In a development which is set to affect the European economy, Greece has slipped back into recession with its economy contracting by 0.2 percent in the first quarter of this year.


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A small retirement saving mistake could cost you $43,000

Most of us are worried about saving enough for retirement but despite that millions of workers are leaving thousands of dollars on the table annually by not contributing enough to receive a full employer matching contribution...


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Oil plunges below $65 on US shale oil revival signs

Oil went down below $65 a barrel on Monday after reports surfaced that the shale oil production in the US was recovering after a recent price rally raised serious concerns of a growing global supply glut.


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Tesla's first-quarter loss jumps due to heavy spending

Electric car maker Tesla Motors Inc on Wednesday reported a wider loss in the first quarter as the company spent a good amount of money to achieve its goals of launching a new sport utility vehicle, rebuild its paint...


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Duke Energy seeks 6-month halt of shareholder suit

A Delaware judge is considering a request moved forward by Duke Energy seeking a six-month halt of a shareholder lawsuit prompted by a massive coal ash spill in North Carolina.


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ANZ Bank slashes retail home loan interest rates by 25 bps

Australia and New Zealand Banking Group (ANZ Bank) has announced that it has decided to cut rates on retail home loans by 25 basis points effective Friday.


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McDonald's to detail turnaround plans

Burger giant McDonald's will unveil its latest plans to revive its falling business on Monday. The company has decided to reveal the plans in public just two months after CEO Steve Easterbrook became the head of...


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Apple announces massive quarter profit

Apple's latest iPhones are doing superb business in China and the massive sale of this smartphone in the Asian nation has sent quarterly profit of the Cupertino-based firm up by 33 percent.


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Charter plans new bid for TWC: Report

Charter Communications has started making efforts for a potential bid for New York-based Time Warner Cable (TWC), people in the know of the matter informed the Wall Street Journal (WSJ).


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Facebook profit falls but revenues, user base up

The world's biggest social networking site, Facebook, on Wednesday announced that its first quarter profit plunged 20 percent compared to the same period a year ago but revenues jumped solely due to robust growth in mobile...


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Speed trader arrested in London for 2010 US 'flash crash'

A high-frequency trader named Navinder Singh Sarao was on Tuesday arrested in London over his alleged role in the May 2010 "flash crash" that wiped out nearly $1 trillion (Dh3.67 trillion) in market value for a short period...


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Already sharing information with AIIB: ADB head

Asian Development Bank (ADB) President Takehiko Nakao on Sunday said that the Manila-based bank has already received requests for information from the China-led Asian Infrastructure Investment Bank.


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Will stick with ad-free model in China: Netflix CEO

Netflix Inc Chief Executive Officer Reed Hastings on Wednesday remarked that his company a subscription video streaming service without commercials for the Chinese market is being followed by his company in order...


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Alaska Airlines plane makes emergency landing after worker found trapped in

A Los Angeles-bound Alaska Airlines flight on Monday was forced to make an emergency landing after the pilot discovered that a flight worker was trapped in the cargo hold. The worker reportedly fell asleep and got stuck...


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Nokia in advanced talks to acquire Alcatel-Lucent

Finnish telecoms equipment maker Nokia today confirmed that it was holding negotiations to acquire Alcatel-Lucent. Nokia said that it has decided to buy its Franco-American rival in order to create a telecoms and Internet technology behemoth.


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Offshore yuan drops as China exports decline

The yuan trade in Hong Kong plunged the most in the last one month after China's exports fell unexpectedly. The sudden fall has led to speculations that policy makers would favor a weaker exchange rate...


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Zynga founder Mark Pincus returns as CEO Don Mattrick resigns

Founder of social games company Zynga, Mark Pincus, has returned as the new boss of the company as the incumbent CEO Don Mattrick has resigned. Pincus quit as chief executive of the company, which has developed popular...


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Shell to acquire BG Group in $70BLN deal

Anglo-Dutch oil and gas company Royal Dutch Shell today announced that has decided to acquire Britain's BG Group in a $70 billion cash and stock deal.


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United Tech wins appeal of claims that it overcharged US govt

United Technologies Corp on Monday won its appeal of government claims that the company overcharged for Pratt & Whitney jet engines. U.S. Circuit Judge Jeffrey Sutton of the 6th Circuit U.S. Court of Appeals in...


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