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Fed likely to keep rates steady as it awaits Trump economic plan

A police officer keeps watch in front of the U.S. Federal Reserve building in Washington, DC, U.S. on October 12, 2016. REUTERS/Kevin Lamarque/File Photo

The U.S. Federal Reserve is expected to keep interest rates unchanged on Wednesday in its first policy decision since President Donald Trump took office, as the central bank awaits greater clarity on his economic policies. Trump has promised a large infrastructure spending program, tax cuts, a rollback of regulations and a renegotiation of trade deals but has offered few details ...

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U.S. consumer spending, housing data bolster economic outlook

FILE PHOTO -  A family shops at the Wal-Mart Supercenter in Springdale, Arkansas June 4, 2015.    REUTERS/Rick Wilking/File Photo

U.S. consumer spending accelerated in December as households bought motor vehicles and cold weather boosted demand for utilities amid a rise in wages, pointing to sustained domestic demand that could spur economic growth in early 2017. There are also signs that inflation firmed last month. The growth outlook was further bolstered by other data on Monday showing a jump in ...

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Snap selects New York Stock Exchange for IPO: source

File Photo: The Snapchat logo is seen on a banner outside the New York Stock Exchange (NYSE) in New York City, U.S., November 16, 2016.  REUTERS/Brendan McDermid/File Photo

Snap Inc, the owner of the popular messaging service Snapchat, has chosen Intercontinental Exchange Inc’s (ICE.N) New York Stock Exchange (NYSE) for its initial public offering (IPO), a person familiar with the matter said on Monday. The selection comes as Snap prepares to make its earnings public this week ahead of the IPO that is expected in March. It represents ...

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Johnson & Johnson to buy Actelion for $30 billion, spin off R&D unit

A Johnson & Johnson building is shown in Irvine, California, U.S., January 24, 2017.   REUTERS/Mike Blake

U.S. healthcare giant Johnson & Johnson (JNJ.N) will buy Swiss biotech company Actelion (ATLN.S) in a $30 billion all-cash deal that includes spinning off Actelion’s research and development pipeline, the companies said on Thursday. The acquisition gives J&J access to the Swiss group’s line-up of high-price, high-margin medicines for rare diseases, helping it diversify its drug portfolio as its biggest ...

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Dow breaks above 20,000 as US stocks hit all-time highs


U.S. equities rose to all-time highs on Wednesday after a series of executive orders from President Donald Trump increased bullish sentiment on Wall Street. The Dow Jones industrial average broke above 20,000 for the first time shortly after the open, rising more than 100 points as Boeing and Caterpillar contributed the most gains. “Traders have been waiting for more details on infrastructure ...

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U.S. judge approves Volkswagen dealers $1.2 billion settlement

A Volkswagen logo is pictured at the newly opened Volkswagen factory in Wrzesnia, Poland, September 9, 2016. REUTERS/Kacper Pempel/File Photo

Volkswagen AG’s (VOWG_p.DE) dealers will receive an average of $1.85 million in a $1.2 billion settlement approved by a U.S. judge on Monday over its diesel emissions scandal. U.S. District Judge Charles Breyer said the 650 U.S. dealers would be paid over 18 months, ruling the settlement “fair, reasonable, and adequate.” VW also agreed to keep making volume-based incentive payments ...

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Oil falls as signs of U.S. output rise overshadows OPEC-led cuts

A pump jack stands idle in Dewitt County, Texas January 13, 2016.    REUTERS/Anna Driver

Oil prices fell one percent on Monday as signs of a strong recovery in U.S. oil drilling activity outweighed news that OPEC and non-OPEC producers were on track to meet output reduction goals set in December. Global benchmark Brent crude prices LCOc1 were down 53 cents to $54.96 a barrel at 1026 GMT, while U.S. West Texas Intermediate (WTI) crude ...

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London Banker Stakes Claim in Ancient Mining Area on Lithium Bet

A London banker has joined the rush for one of the world’s hottest metals by staking a claim in an ancient U.K. mining region. Jeremy Wrathall, head of mining research at Investec Plc, secured exploration rights to swathes of land in Cornwall, where mining dates back to before the Roman Empire. He says the region — famous for its tin ...

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U.S exchanges rent helicopter, drape banner in pursuit of Snapchat IPO

FILE PHOTO - The Snapchat logo is seen on a banner outside the New York Stock Exchange (NYSE) in New York City, U.S. on November 16, 2016.  REUTERS/Brendan McDermid/File Photo

This past November, Nasdaq Inc (NDAQ.O) hired a helicopter to film Manhattan’s skyline using Snapchat’s new video-camera sunglasses and sent the aerial footage to its social media followers. The New York Stock Exchange – its arch-rival – on the same day tweeted a video shot from the floor of its exchange, showing that it too was using the social media ...

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EPA accuses Fiat Chrysler of excess diesel emissions

Fiat Chrysler Automobiles CEO Sergio Marchionne listens during the North American International Auto Show in Detroit, Michigan, U.S., January 9, 2017.  REUTERS/Rebecca Cook

The U.S. Environmental Protection Agency on Thursday accused Fiat Chrysler Automobiles NV of illegally using hidden software to allow excess diesel emissions to go undetected, the result of a probe that stemmed from regulators’ investigation of rival Volkswagen AG. FCA shares plummeted as the maximum fine is about $4.6 billion. The EPA action affects 104,000 U.S. trucks and SUVs sold ...

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