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U.S:Banks settle for $2bn in forex rigging suit


Nine of the world’s biggest banks agreed to a settlement yesterday with US investors tied to the currency-rigging scandal, in what could be the start of a new wave of throbbing litigation. Britain’s Barclays, HSBC and Royal Bank of Scotland joined Goldman Sachs Group, BNP Paribas SA, JP Morgan, Bank of America, UBS and Citigroup to pay more than $2bn ...

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U.S. sues to seize $1 billion in assets tied to Malaysian state fund


U.S. prosecutors are trying to seize more than $1 billion in assets they said were tied to money stolen from the Malaysian state fund, overseen by the prime minister, and used to finance “The Wolf of Wall Street” film, and to buy property and works of art. Civil lawsuits filed in federal court on Wednesday did not name Malaysian premier ...

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U.S:Microsoft opens its first flagship retail store


Microsoft Inc. is all set to open its first flagship brick-and-mortar retail store in New York City’s famed Fifth Avenue, just a few blocks away from Apple’s Fifth Avenue Store. It’s a big day for the company that brought us Windows and Office. To celebrate the grand opening of the flagship store in the heart of Manhattan, Microsoft will also ...

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U.S:Microsoft’s cloud unit boosts profits


Microsoft reported substantial growth in its cloud computing unit, which helped to boost quarterly profits. The software giant posted a $3.1bn (£2.4bn) profit for the three months to June. That was far better than the $3.2bn loss for the same period last year when Microsoft booked hefty charges on writing down the value of mobile phone assets it bought from ...

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U.S:PIMCO names Man Group CEO Manny Roman as its new chief

The offices of Pacific Investment Management Co (PIMCO) are shown in Newport Beach, California August 4, 2015.     REUTERS/Mike Blake

Pacific Investment Management Co (PIMCO) has hired Emmanuel ‘Manny’ Roman, the chief executive of the world’s biggest listed hedge fund Man Group plc (EMG.L), as it tries to reverse a slump in fortunes since co-founder Bill Gross left in 2014. Roman will take over asset manager PIMCO on Nov. 1, Man Group said on Wednesday, replacing the incumbent Douglas Hodge. ...

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U.S:Major win for Microsoft in ‘free for all’ data case


The US government cannot force Microsoft to give authorities access to the firm’s servers located in other countries, a court has ruled. The decision is being seen as a precedent for protecting the privacy of cloud computing services. The US Department of Justice had wanted to access a server in Ireland, as part of an investigation into a drugs case. ...

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US:Oil jumps 2 percent, up from 2-month lows on technical support

Pump jacks are seen at the Lukoil-owned Imilorskoye oil field, as the sun sets, outside the west Siberian city of Kogalym, Russia, in this January 25, 2016 file photo. REUTERS/Sergei Karpukhin/Files

Oil prices rose 2 percent on Tuesday to rebound from two-months lows on a technical correction, a dollar weakened by rising risk in global markets and bets that U.S. crude stockpiles fell for an eighth straight week. Some investors and analysts said gasoline and diesel were in oversupply despite summer driving demand in the United States and that could pressure ...

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U.S. business wants slow Brexit, investment to dry up: lobby

Rain clouds pass over Canary Wharf financial financial district in London, Britain July 1, 2016. REUTERS/Reinhard Krause

U.S. businesses, Britain’s biggest foreign investors, largely factored in the vote to leave the European Union and now want to see exit talks progress slowly, a top executive at the U.S. Chamber of Commerce said. Investment from across the Atlantic will slow sharply as companies gauge the fallout, Myron Brilliant, head of international affairs at the biggest U.S. business lobby, ...

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