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Drop in U.S. consumer spending clouds Fed rate hike outlook

U.S. consumer spending fell in August for the first time in seven months while inflation showed signs of accelerating, mixed signals that could keep the Federal Reserve cautious about raising interest rates. The Commerce Department said on Friday that consumer spending, which accounts for more than two-thirds of U.S. economic activity, fell 0.1 percent last month after accounting for inflation. “Consumers took a breather in August,” said Chris Christopher of IHS Global Insight

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Drop in U.S. consumer spending clouds Fed rate hike outlook

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China factory activity expands again in September: official PMI

Activity in China's manufacturing sector expanded again in September, an official survey showed on Saturday, which may indicate that recent positive momentum can be sustained. After a significant pick-up in March, China's official PMI slipped, falling below 50 in July before showing expansion in August. Economists say the pattern over the past few months suggested sustained

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China factory activity expands again in September: official PMI

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A Deutsche Bank settlement overshadows U.S. equities

Deutsche Bank will likely cast a pall over equity markets next week as the largest German lender navigates a possible multi-billion dollar settlement with the U.S. Department of Justice over the sale of mortgage-backed bonds. Deutsche shares traded in the United States hit a record low on Thursday, falling as much as 24 percent since the DOJ asked…

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A Deutsche Bank settlement overshadows U.S. equities

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Germany’s Merkel cannot afford to bail out Deutsche Bank: media

By Georgina Prodhan FRANKFURT (Reuters) – German Chancellor Angela Merkel cannot afford to bail out Deutsche Bank given the hard line Berlin has taken against state aid in other European nations and the risk of a political backlash at home, German media wrote on Saturday. The government denied a newspaper report on Wednesday that it was working on a rescue plan for Germany's biggest bank, as …

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Germany’s Merkel cannot afford to bail out Deutsche Bank: media

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Exclusive: EU wants Google to stop anti-competitive Android practices, fine expected

By Foo Yun Chee BRUSSELS (Reuters) – EU antitrust regulators plan to order Alphabet's Google to stop paying financial incentives to smartphone makers to pre-install Google Search exclusively on their devices and warned the company of a large fine, an EU document showed. Google received a copy in April in which …

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Exclusive: EU wants Google to stop anti-competitive Android practices, fine expected

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U.S. Labor Department launches review of all Wells Fargo complaints

By Sarah N. Lynch WASHINGTON (Reuters) – U.S. Labor Department Secretary Thomas Perez on Monday pledged to conduct a “top-to-bottom” review of all cases, complaints and other alleged violations that…

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U.S. Labor Department launches review of all Wells Fargo complaints

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Disney, Microsoft among possible Twitter suitors: reports

(Reuters) – Walt Disney Co and Microsoft Corp join a list of potential suitors for Twitter Inc, according to media reports on Monday. Twitter shares were up 2.23 percent at $23.36 in after-market trading. The microblogging service has reportedly started talks with a number of technology companies to sell itself, including Google parent Alphabet Inc and may receive a formal bid soon.

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Disney, Microsoft among possible Twitter suitors: reports

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Silicon Valley veteran Bill Campbell dies

Campbell was chief executive of tax software maker Intuit Inc from 1994 to 1998 and again for a few months until January 2000. “He helped us build Google and in countless ways made our success possible,” Eric Schmidt, executive chairman of Alphabet Inc, said in a post.

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Silicon Valley veteran Bill Campbell dies

alphabet

Alphabet profit sends shares up; overtakes Apple in value

(Reuters) – Alphabet Inc reported better-than-expected quarterly profit on Monday, sending shares of Google's parent soaring in after-hours trading and making it the most valuable U.S. company ahead of rival Apple Inc.

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Alphabet profit sends shares up; overtakes Apple in value