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Exclusive: In mammoth task, BP sends almost three million barrels of U.S. oil to Asia

Oil major BP is shipping almost three million barrels of U.S. crude to customers across Asia, pioneering a lengthy and complex operation likely to become more popular after OPEC last week announced deep production cuts. BP's efforts, involving one of the world's longest sea routes, seven tankers and a series of ship-to-ship transfers, underscore a desire among oil traders to develop new routes to sell swelling supplies of cheap…

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Exclusive: In mammoth task, BP sends almost three million barrels of U.S. oil to Asia

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U.S. services sector activity scales one-year high

U.S. services sector activity hit a one-year high in November, with a surge in production boosting hiring, further evidence of strength in the economy that clears the way for the Federal Reserve to raise interest rates next week. Monday's bullish report from the Institute for Supply Management (ISM)…

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U.S. services sector activity scales one-year high

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United Airlines mechanics ratify new contract

By Alana Wise NEW YORK (Reuters) – Union mechanics at United Continental Holdings Inc on Monday ratified a six-year joint collective bargaining agreement with the airline, marking the end to several years of contract talks between the two parties. The…

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United Airlines mechanics ratify new contract

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Delaware Court revives case over Pincus’s Zynga stock sale

By Tom Hals WILMINGTON, Del. (Reuters) – The Delaware Supreme Court revived a lawsuit against Zynga Inc's controlling shareholder, Mark Pincus, and fellow board members for allegedly allowing leaders of the social gaming company to act on inside information and dump stock before it crashed in 2012. Delaware's high court ruled that the Court of Chancery erred when it dismissed the lawsuit against the board of Zynga, which …

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Delaware Court revives case over Pincus’s Zynga stock sale

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UTC CEO says no ‘quid pro quo’ on keeping Indiana plant open

By David Shepardson WASHINGTON (Reuters) – United Technologies Corp , parent company of Carrier Corp, got a “good deal” with President-elect Donald Trump that allowed it to shift most jobs at two Indiana plants to Mexico, its chief executive said on Monday in an interview with CNBC. Greg Hayes, chief executive of UTC, said Trump did not make threats in negotiations over the plant's future or raise the company's U.S. military contracts. Carrier, which in February had announced plans to close two Indiana plants and send…

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UTC CEO says no ‘quid pro quo’ on keeping Indiana plant open

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No price like home: Big spenders reappear in China

SHANGHAI/BEIJING (Reuters) – China's wealthiest shoppers are spending at home again, roused from a three-year slumber by a weaker yuan, lower prices and a crackdown on overseas sales agents – a welcome boost for the world's luxury brands. China's rich make up almost a third of the world's luxury shoppers, up from only 2 percent around the …

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No price like home: Big spenders reappear in China

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Fed official stands by Wall Street reforms, says must complete work

The United States “absolutely must” complete unfinished work ending the too-big-to-fail bank problem that helped plunge the global economy into recession eight years ago, an influential Federal Reserve policymaker said on Saturday. Dudley's comments, to a Group …

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Fed official stands by Wall Street reforms, says must complete work

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U.S. presidential commission issues recommendations on cyber security

The U.S. government and the private sector must cooperate to improve the security of digital networks, a U.S. presidential commission on cyber security recommended in a wide-ranging report issued on Friday. The commission created by President Barack Obama earlier this year also recommended that the president and Congress accelerate the pace at which technology is updated in the federal sector and that the president appoint an ambassador for cyber…

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U.S. presidential commission issues recommendations on cyber security

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Trump’s dilemma: slower job growth or rising rates and inflation?

A drop in the U.S. unemployment rate last month to a 9-year low signals the risk of a collision between President-elect Donald Trump's plans to goose the economy and the Federal Reserve's efforts to…

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Trump’s dilemma: slower job growth or rising rates and inflation?

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Jobless claims rise to five-month high

WASHINGTON, Dec 1 (Reuters) – – The number of Americans filing for unemployment benefits rose more than expected last week, hitting their highest level in five months, but the underlying trend remained consistent with a strengthening labor market. Initial claims for state unemployment benefits increased 17,000 to a seasonally adjusted 268,000 for the week ended Nov. 26, the Labor Department said on Thursday. Despite the increase, claims remained below the 300,000 threshold, which is associated with a healthy…

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Jobless claims rise to five-month high

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