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Samsung America says it has replaced most recalled Galaxy Note 7s
(Reuters) – Samsung Electronics America said on Friday it has replaced nearly 85 percent of all recalled Galaxy Note 7 devices as it works to resolve the issue of fire-prone phones. South Korean parent company Samsung Electronics Co Ltd announced the global recall of at least 2.5 million Note 7s in early September following numerous reports of the smartphones catching fire. Samsung will be releasing... [Read more]
Berkshire profit falls 24 percent, keeps Wells Fargo stake
Berkshire is Wells Fargo's largest shareholder. Quarterly net income for Omaha, Nebraska-based Berkshire fell to $7.2 billion, or $4,379 per Class A share, from $9.43 billion, or $5,737 per share, a year earlier. Operating profit, which excludes investment and derivative gains and losses, rose 7 percent to Read the original post: Berkshire profit falls 24 percent, keeps Wells Fargo stake Read More →
China’s Wanda in $1 billion deal to buy Hollywood’s Dick Clark
SHANGHAI/SAN FRANCISCO (Reuters) – China's Dalian Wanda has agreed a $1 billion takeover of Dick Clark Productions, the company that runs the Golden Globe awards and Miss America pageants, extending the Chinese property-to-entertainment conglomerate's expansion into Hollywood. Wanda, run by China's richest man, Wang Jianlin, said in a statement on Friday it would buy all of Dick... [Read more]
Wells Fargo sales scandal extends to brokerage unit: U.S. senators
Wells Fargo & Co fired hundreds of brokerage employees for improper sales practices, three U.S. senators said on Thursday, widening the scope of a scandal which the fourth-largest U.S. bank has so far characterized as a retail banking problem. In a letter to Wells Fargo Chief Executive Tim Sloan, Senators Elizabeth Warren, Ron Wyden and Robert Menendez questioned the bank's disclosures about... [Read more]
Fed holds rates steady, sets stage for December hike
The Federal Reserve kept interest rates unchanged on Wednesday in its last policy decision before the U.S. election, but signaled it could hike in December as the economy gathers momentum and inflation picks up. Fed policymakers also expressed more optimism that inflation was moving toward their 2 percent target. “The committee judges that … Originally posted here: Fed holds rates steady,... [Read more]
GE to merge oil unit with Baker Hughes to create service giant
General Electric Co said on Monday it would merge its oil and gas business with Baker Hughes Inc , creating the world's second-largest oilfield services provider as competition heats up to supply more-efficient products and services to the energy industry after several years of low crude prices. The deal to create a company with $32 billion in annual revenue will combine GE's strengths in... [Read more]
EU and Canada to sign trade pact after Belgians strike key deal
By Robert-Jan Bartunek BRUSSELS (Reuters) – Canada and the European Union will sign a landmark free trade deal on Sunday after a series of key votes in Belgian regional assemblies on Friday ended opposition that had threatened to destroy the entire agreement. Soon after the final Belgian vote, European Council president Donald Tusk called Canadian Prime Minister Justin Trudeau and invited him... [Read more]
White House urges ban on non-compete agreements for many workers
The administration said so-called non-compete agreements interfere with worker mobility and states should consider barring companies from requiring low-wage workers and other employees who are not privy to trade secrets or other special circumstances to sign them. Vice President Joe Biden in a statement said he had heard from a… Read more from the original source: White House urges ban on... [Read more]
Deadline extended for Google to respond to EU’s AdSense complaint
By Foo Yun Chee BRUSSELS (Reuters) – Alphabet unit Google has been given an extra week to formally respond to allegations by the European Commission that it was blocking rivals in online search advertising, a move Here is the original post: Deadline extended for Google to respond to EU’s AdSense complaint Read More →
EU, Canada still hope to sign trade deal after Belgian ‘Non’
Belgium declared on Monday that it could not formally back a free trade deal between the European Union and Canada because of an internal Belgian dispute, but the two sides still appeared to be holding out hopes of a summit to … More here: EU, Canada still hope to sign trade deal after Belgian ‘Non’ Read More →