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Apple to appeal EU tax ruling this week, says it was a ‘convenient target’

A 3D printed Apple logo is seen in front of a displayed European Union flag in this illustration taken September 2, 2016. REUTERS/Dado Ruvic/Illustration

Apple (AAPL.O) will launch a legal challenge this week to a record $14 billion EU tax demand, arguing that EU regulators ignored tax experts and corporate law and deliberately picked a method to maximize the penalty, senior executives said. Apple’s combative stand underlines its anger with the European Commission, which said on Aug. 30 the company’s Irish tax deal was ...

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Bill Gates, investors launch $1 billion clean tech fund

Bill Gates, co-chair of the Bill & Melinda Gates Foundation, speaks during a discussion on innovation hosted by Reuters in Washington, U.S., April 18, 2016.      REUTERS/Joshua Roberts/File Photo

Microsoft co-founder Bill Gates and a group of high-profile executives are investing $1 billion in a fund to spur clean energy technology and address global climate change a year after the Paris climate agreement. Gates launched the Breakthrough Energy Ventures fund on Monday along with billionaire entrepreneurs such as Facebook Inc (FB.O) head Mark Zuckerberg, Alibaba Group Holding Ltd (BABA.N) ...

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UniCredit to raise $13.8 billion in Italy’s biggest share issue

Unicredit bank logo is seen on a banner in Milan, Italy, May 23, 2016.    REUTERS/Stefano Rellandini/File Photo

Italy’s largest bank, UniCredit, unveiled plans on Tuesday to raise 13 billion euros ($13.8 billion) in the nation’s biggest share issue, to shore up its balance sheet and distance itself from Italy’s broader banking crisis. Its gambit comes at a troubled time for Italian banks and the economy, with Monte dei Paschi di Siena at risk of failure, a new ...

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European share markets stabilize after U.S election


European share markets continued to stabilize today after Asian stocks rebounded from Wednesday’s sharp sell-off in the immediate aftermath of Donald Trump’s US election victory. Hopes that Mr. Trump will introduce a pro-business agenda to stimulate US economic growth helped to blunt concerns about his surprise win. In London, Paris and Frankfurt, the main stock markets were reported to have ...

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Stocks, dollar roiled by tightening U.S. election race

A man walks past at an electronic board showing the Japanese yen's exchange rate against British pound (R) and Euro outside a brokerage in Tokyo, Japan, July 6, 2016. REUTERS/Issei Kato

Asian shares tumbled to seven-week lows and the dollar lost ground against the yen and the euro on Wednesday as investors were rattled by signs the U.S. presidential election race was tightening just days out to the Nov. 8 vote. Markets were beginning to rethink their long-held bets of a victory for Democratic candidate Hillary Clinton amid signs her Republican ...

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Uber partners with GM’s Maven car-sharing program

A photo illustration shows the Uber app logo displayed on a mobile telephone, as it is held up for a posed photograph in central London, Britain October 28, 2016. REUTERS/Toby Melville/Illustration

Uber Technologies Inc [UBER.UL] said on Tuesday it would partner with car-sharing service Maven, operated by General Motors, to allow Uber drivers to rent GM vehicles on a weekly basis. The 90-day pilot is a surprise move for Maven and General Motors, which with Lyft – Uber’s main competitor in North America – announced a program in March called Express ...

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Tesla says SolarCity would add $1 billion to 2017 revenue

A Tesla electric car charging point is seen at the Eurotunnel terminal in Calais, France, October 12, 2016. REUTERS/Phil Noble

Tesla Motors Inc (TSLA.O) said on Tuesday its $2.6 billion merger with SolarCity Corp (SCTY.O) would add over $500 million in cash to the electric carmaker’s balance sheet over the next three years, while contributing over $1 billion to revenue in 2017. Shares of Tesla fell another 2 percent in after-hours trade after tumbling 4 percent in afternoon trade to ...

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Pfizer cholesterol drug fizzles, hitting shares

The Pfizer logo is seen at their world headquarters in New York April 28, 2014.  REUTERS/Andrew Kelly/File photo

Pfizer Inc (PFE.N) scrapped its high-profile cholesterol fighter after its effectiveness waned over time in large clinical trials, sending its shares 2 percent lower and prompting the company to trim its 2016 earnings forecast. The largest U.S. drugmaker trimmed the top end of its 2016 profit estimate on Tuesday, citing costs of scrapping the experimental injectable medicine, called bococizumab, which ...

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U.S. stocks not moved by October’s marquee deals

An AT&T logo and communication equipment is shown on a building in downtown Los Angeles, California October 29, 2014.    REUTERS/Mike Blake/File Photo

The record dealmaking volume for October did not create a ripple effect lifting U.S. stocks as it has in the past – partly because the mergers, albeit large, were few and far between, bankers and analysts said. Though acquisitive corporate bosses generated $329 billion worth of takeovers in October, the biggest month for U.S. M&A on record, according to Thomson ...

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Vodafone UK fined a record 4.6 million pounds for failing customers

Branding for Vodafone is seen on the exterior of a shop in London, Britain, September 10, 2015. Italy has raised 462 million euros ($518 million) from the sale of spectrum to Telecom Italia and Vodafone that will be used for 4G mobile phone services. REUTERS/Toby Melville  - RTSI41

Britain has fined Vodafone (VOD.L) a record 4.6 million pounds ($5.60 million) for “serious and sustained” customer failures, including not updating accounts when mobile phone users topped up their credit to make calls. Vodafone, the world’s second-largest mobile operator, also failed to act quickly enough to identify or address the problems, the regulator said, which stemmed from a move to ...

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