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Crude oil futures rise after U.S. stockpiles fall
TOKYO (Reuters) – Oil futures rose in early Asian trading on Wednesday after an industry group released weekly figures showing U.S. stockpiles fell more than expected last week. Continued here: Crude oil futures rise after U.S. stockpiles fall Read More →
Cloud business boosts Microsoft’s quarterly revenue, shares rise
“Only two companies are setting the tone of enterprise computing, Microsoft Azure and Amazon AWS,” said Trip Chowdhry, managing director of Global Equities Research, referring to Amazon.com Inc's web services unit. Microsoft's revenue in what it calls its “intelligent cloud” businesses, which includes the Azure cloud platform and server software, rose 7 percent to... [Read more]
General Motors escapes some claims from 2014 recalls
By Jessica Dye NEW YORK (Reuters) – A U.S. judge on Friday dismissed some claims brought against General Motors by customers seeking compensation for a drop in vehicle resale values after a rash of safety recalls in 2014, including one for a faulty ignition switch. U.S. District Judge Jesse Furman in Manhattan… See original here: General Motors escapes some claims from 2014 recalls Read More →
NY Fed, Bangladesh Bank meeting on heist postponed: sources
A meeting between Bangladesh central bank officials and the New York Federal Reserve scheduled for this week to speed up efforts to recover $81 million stolen from Bangladesh Bank's account at the Fed has been postponed, officials in Dhaka said. A four-member Bangladesh Bank team headed by deputy governor Mohammad Razee Hassan, who also heads … The rest is here: NY Fed, Bangladesh Bank... [Read more]
IKEA to recall 1.7 million chests, dressers in China: watchdog
Swedish furniture company IKEA Group [IKEA.UL] said it would recall 1.66 million chests and dressers in China over concerns the drawers could pose a danger to children if not properly fixed to walls, China's safety regulator said on Tuesday. The recall covers MALM chests or dressers manufactured from 1999 to 2016, China's General Administration of Quality Supervision, Inspection and Quarantine... [Read more]
Global shares gain as Brexit tensions ease amid stimulus hopes
Europe's STOXX 600 rose 0.5 percent, helped by gains in Daimler and Unicredit , while sterling jumped 1.1 percent against the dollar, pulling further from a 31-year low hit last week. In Britain, interior minister Theresa May was set to become prime minister on Wednesday, offering some relief from the political uncertainty that has dogged the market since the country voted to leave the European... [Read more]
Boeing exec opposes Iran licenses for others if its deal blocked
The head of Boeing Commercial Airplanes said on Sunday that U.S. suppliers to Europe's Airbus and other planemakers should not be able to get licenses to sell their wares to Iran if Boeing is blocked from completing a $25 billion deal … Read more from the original source: Boeing exec opposes Iran licenses for others if its deal blocked Read More →
Volkswagen to pay $86 million in penalties to California over emissions
By Alex Dobuzinskis LOS ANGELES (Reuters) – Volkswagen AG will pay an additional $86 million in penalties to California over its emissions scandal, on top of a settlement of about $15 billion the automaker reached with U.S. officials last week, state Attorney General Kamala Harris said in a statement on Thursday. The scandal has disrupted Volkswagen's global business and sullied its reputation.... [Read more]
Medivation agrees to open its books to Sanofi
San Francisco-based Medivation shares jumped as much as 4.2 percent after Reuters first reported that Medivation and Sanofi were in talks over a confidentiality pact, adding to similar agreements Medivation has with Pfizer Inc and Celgene Corp , which have also expressed interest in an acquisition. The move comes after Medivation rejected Sanofi's $9.3 billion offer in April, prompting Sanofi... [Read more]
Visa, MasterCard $7.25 billion settlement with retailers is thrown out
By Jonathan Stempel NEW YORK (Reuters) – A federal appeals court on Thursday threw out a $7.25 billion antitrust settlement reached by Visa Inc and MasterCard Inc with millions of retailers that accused the card networks of improperly fixing credit and debit card Read the original here: Visa, MasterCard $7.25 billion settlement with retailers is thrown out Read More →