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Amazon exec weighs in on proposed Staples-Office Depot merger
By Diane Bartz and Clarece Polke WASHINGTON (Reuters) – An executive with Amazon.com Inc's unit that sells office supplies to businesses gave testimony on Tuesday that appeared to bolster a U.S. regulator's wariness over a … Here is the original post: Amazon exec weighs in on proposed Staples-Office Depot merger Read More →
Smaller iPhone expected as Apple faces drop in phone sales
By Julia Love CUPERTINO, Calif. (Reuters) – Apple Inc is expected to launch a smaller, cheaper iPhone on Monday aimed at emerging markets and possibly China, the world's biggest buyer of smartphones, as it looks to reverse a decline in worldwide sales of its most important product. The launch of such a phone – expected to be called the iPhone SE – would represent Apple's... [Read more]
Six months into ‘Dieselgate’ scandal, gloom deepens in VW’s hometown
By Andreas Cremer WOLFSBURG, Germany (Reuters) – When Martin Winterkorn dropped by to order some new glasses in the Volkswagen company town of Wolfsburg, he was “visibly dejected”, according to his optician. Six months into the “Dieselgate” affair surrounding VW, the mood in Wolfsburg – where almost half the population works at its giant… Go here to read the... [Read more]
Starwood signs first U.S.-Cuba hotel deal since 1959 revolution
By Marc Frank HAVANA (Reuters) – Starwood Hotels & Resorts Worldwide on Saturday became the first U.S. hotel company to sign a deal with Cuba since the 1959 revolution, announcing a multimillion-dollar investment a day before U.S. President Barack Obama was due to visit Havana. Such deals would normally be prohibited under the U.S. economic embargo of Cuba, but Starwood received special... [Read more]
Argentina, creditors agree $155 million more in default settlement: mediator
Argentina settled with an additional 115 individual creditors holding defaulted sovereign bonds for $155 million, Daniel Pollack, the court-appointed mediator in the long-running case, said in a statement on Friday. Pollack's announcement brings the total amount of settlements agreed in principle with U.S. creditors above $6.5 billion and moves Latin America's No. 3 economy closer to ending... [Read more]
Sheraton owner Starwood set to accept offer from China’s Anbang
A successful deal would bolster Anbang's reputation as one of China's top corporate acquirers and would follow its purchase of New York's iconic Waldorf Astoria hotel last Excerpt from: Sheraton owner Starwood set to accept offer from China’s Anbang Read More →
New York’s Plaza Hotel to go on sale next month: Bloomberg
(Reuters) – New York's Plaza Hotel is set to go on sale in an auction next month, Bloomberg reported on Wednesday. David and Simon Reuben hold the mortgage on the five-star hotel and scheduled a foreclosure auction for April 26, Bloomberg said, citing a source. For sale are the Plaza's hotel rooms, its restaurants and retail space. Here is the original post: New York’s Plaza... [Read more]
Fed holds steady, eyes two rate hikes this year
The Federal Reserve held interest rates steady on Wednesday and indicated that moderate U.S. economic growth and “strong job gains” would allow it to tighten policy this year, with fresh projections showing policymakers expected two quarter-point hikes by the year's end, half the number seen in December. Inflation picked up in recent months,” the Fed said in a … Original... [Read more]
Toshiba to unveil business plan on Friday
Japan's Toshiba Corp announced it will unveil on Friday its business strategy for the next fiscal year, which, analysts say, will include plans to boost its finances after a $1.3 … More here: Toshiba to unveil business plan on Friday Read More →
Bill Gross is cleared to pursue $200 million Pimco lawsuit
California Superior Court Judge Martha Gooding ruled late Sunday that Gross' breach-of-contract lawsuit was strong enough to proceed. Gross abruptly left Pimco in September 2014 following negative reports about his management style and weak returns at Pimco Total Return , which he had built Read the original post: Bill Gross is cleared to pursue $200 million Pimco lawsuit Read More →