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U.S., Apple ratchet up rhetoric in fight over encryption
By Dustin Volz and Julia Edwards WASHINGTON (Reuters) – The U.S. Department of Justice filed a motion on Friday seeking to compel Apple Inc to comply with a judge's order to unlock the encrypted iPhone belonging to one of the San Bernardino shooters, portraying the tech giant's refusal as a “marketing strategy.” In response, a senior Apple executive, speaking with reporters... [Read more]
Toyota recalling 2.9 million vehicles globally over seatbelt issue
Toyota Motor Corp said on Thursday it is conducting a global recall of 2.87 million vehicles due to the possibility that their seatbelts could be damaged by a metal seat frame part in the event of a crash. In an email, the world's biggest-selling automaker said that the global … Read more: Toyota recalling 2.9 million vehicles globally over seatbelt issue Read More →
Apollo Global’s ADT deal shows appetite for M&As still strong
(Reuters) – Private equity firm Apollo Global Management LLC will buy ADT Corp in the biggest leveraged buyout so far this year to create a business with nearly a third of North America's electronic security products market. See more here: Apollo Global’s ADT deal shows appetite for M&As still strong Read More →
Asia shares rise despite weak China, Japan data; firmer yuan helps
Asian shares snapped a five-session losing streak on Monday as China's central bank fixed the yuan sharply stronger, easing fears of depreciation for now, though a string of weak data from Japan to China and Indonesia suggested the bounce may be short-lived. European shares were set to follow Asia higher. Most stock markets in More here: Asia shares rise despite weak China, Japan data; firmer... [Read more]
Apple to launch new iPhone, iPad in March: 9to5mac
(Reuters) – Apple Inc is on target to introduce its next iPhone and iPad models on March 15, and aims to start selling the devices in the same week, technology blog 9to5Mac reported, citing sources. Apple, which will introduce a new 4-inch iPhone, dubbed the “iPhone 5se”, and a new iPad Air at a launch event, is unlikely to take pre-orders for the new devices, the blog reported.... [Read more]
Asian shares slip as bank fears add to global gloom
Asian shares fell for a sixth straight session on Friday as concerns about the health of European banks further threatened a global economy already under strain from falling oil prices and slowdowns in China and other emerging markets. “The markets are clearly starting to price in a sharp slowdown in More: Asian shares slip as bank fears add to global gloom Read More →
U.S. judge rejects motion to review GM ignition switch deal
The motion filed by Lance Cooper, a Georgia attorney who first publicly exposed the defect, accused a lawyer leading federal litigation over the switch, Robert Hilliard, of mismanaging the cases and negotiating a multimillion dollar settlement primarily to benefit his own clients, rather than all plaintiffs. Cooper had asked U.S. District Judge Jesse Furman in Manhattan, who oversees the federal switch... [Read more]
Recalled cars create a costly problem for U.S. auto dealers
With the recalls affecting Honda vehicles dating back several years, used-car dealers are facing increased pressure. It is legal under federal law to sell used cars with unrepaired safety defects that are subject to recall, but dealers that operate under franchises with manufacturers could be violating those agreements. It is illegal to sell new cars that are subject to a recall under federal law.... [Read more]
As Big Oil shrinks, boards plot different paths out of crisis
By Ron Bousso and Terry Wade LONDON/HOUSTON (Reuters) – As oil and gas companies cut ever-deeper into the bone to weather their worst downturn in decades, boards have adopted contrasting strategies to lead them out of the crisis. Crude prices have tumbled around 70 percent over the past 18 months to around $35 a barrel, leading to five of the world's top … See more here: As Big... [Read more]
Prolonged oil slump sparks second wave of cuts to 2016 budgets
Less than two months into the year, the top U.S. shale oil companies have already cut their budget for 2016 a second time as the relentless drop in oil prices continues to erode their cash flow. With oil prices firmly Original post: Prolonged oil slump sparks second wave of cuts to 2016 budgets Read More →