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Oil prices give up earlier gains; languish near 11-year lows
By Jacob Gronholt-Pedersen and Roslan Khasawneh SINGAPORE (Reuters) – Oil prices on Wednesday gave back earlier gains, retreating toward the previous session's close near 11-year lows as concerns over growing… Here is the original: Oil prices give up earlier gains; languish near 11-year lows Read More →
Volkswagen brand chief says ‘confident’ of finding solution to U.S. diesel issues
(Reuters) – The head of Volkswagen AG's top selling brand said Tuesday he is “confident” the German automaker will reach agreement with U.S regulators to bring nearly 500,000 diesel vehicles into compliance with U.S. emissions laws. “We are confident we will find an acceptable solution,” VW brand chief Herbert Diess said at a press conference at the Consumer Electronics... [Read more]
Ford, Toyota ally to counter Silicon Valley in dashboard war
By Joseph White LAS VEGAS (Reuters) – Toyota Motor Corp and Ford Motor Co said on Monday they will adopt the same software to link smartphone apps to vehicle dashboard screens and invited other automakers to join them to counter Apple Inc and Google's push to control cars of the future. Toyota, the world's largest automaker by vehicle sales, and… Originally posted here: Ford,... [Read more]
Fidelity drops credit card partners American Express, Bank of America
By Tim McLaughlin BOSTON (Reuters) – Fidelity Investments said on Monday it is dropping long-time credit card partners American Express Co and Bank of America Corp , ending a 12-year partnership that has generated billions of dollars in fees. Boston-based Fidelity, which has 24 million customers, said its new partners will be U.S. Bancorp and Excerpt from: Fidelity drops credit card partners... [Read more]
Oil ends 2015 down 35 percent; long, painful hangover seen
NEW YORK/LONDON (Reuters) – Oil prices rose on Thursday but fell as much as 35 percent for the year after a race to pump by Middle East crude producers and U.S. shale oil drillers created an unprecedented global glut that may … Originally posted here: Oil ends 2015 down 35 percent; long, painful hangover seen Read More →
Jobless claims rise sharply during holiday week
The number of Americans filing new claims for unemployment benefits rose sharply last week, a potential signal the job market was losing steam although some of the increase might be attributed to temporary holiday factors. Initial claims for state unemployment benefits rose 20,000to a seasonally adjusted 287,000 for the week ended Dec.26, the U.S. Labor Department said on Thursday. Many economists... [Read more]
Taiwan economy: an aging tiger in need of cubs
By Faith Hung TAIPEI (Reuters) – Jason Tsai is among the few in Taiwan with excellent English, but two years after graduating from university the highly sought language skill has failed to secure him a well-paying job. Tsai has been pulling in an average monthly pay of T$15,000 ($455) through part-time work, below the minimum wage of T$22,000 for … View original here: Taiwan economy: an... [Read more]
Valeant CEO Pearson remains hospitalized for pneumonia: Bloomberg
Valeant Pharmaceuticals International Inc Chief Executive J. Michael Pearson has been moved to another hospital where he is being treated for a severe case of pneumonia, a company spokeswoman told Bloomberg on Sunday. Elaine Andrecovich, a public View original here: Valeant CEO Pearson remains hospitalized for pneumonia: Bloomberg Read More →
Record highs predicted for bitcoin in 2016 as new supply halves
The reason 2016 looks set to be different is that bitcoin's price is likely to be driven in large part by similar factors to a traditional fiat currency, following the age-old principles of supply and demand. Instead of being controlled by a central bank, bitcoin relies on so-called “mining” computers that validate blocks of transactions by competing to solve mathematical More here: Record... [Read more]
Panasonic buys U.S. refrigeration firm Hussmann for $1.5 billion
Japanese electronics maker Panasonic Corp is set to buy U.S. refrigeration firm Hussmann for over 186.6 billion yen ($1.5 billion) in a deal it says will leverage its technology and help it break into the U.S. food distribution industry. Panasonic, like several domestic peers, has been moving away from unprofitable smartphones and plasma television sets, focusing instead on higher margin products,... [Read more]