Category: US
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McDonald’s to create 5,000 jobs in Britain
McDonald’s Corp said on Wednesday it would create over 5,000 jobs in Britain by the end of 2017, in a sign of its commitment to the country despite the challenging economic conditions. Industry surveys have suggested that Britain’s vote to leave the EU has hammered consumer confidence, although those retailers to report results since last…
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U.S. durable goods orders data points to weak business spending
New orders for U.S. manufactured capital goods rose less than expected in June amid weak demand for machinery and a range of other goods, suggesting a prolonged downturn in business spending. Business investment remains soft despite data ranging from retail sales to housing suggesting that the economy has regained speed after growth almost stalled early…
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As iPhone sales stagnate, services promise growth for Apple
Though Apple Inc is selling enough iPhones to keep investors happy for now, the world’s most valuable publicly traded company is set increasingly to rely on its apps and services to drive growth. Apple’s services business alone – which includes the App Store, Apple Pay and iCloud – will be “the size of a Fortune…
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U.S:Oil prices fall to 3-month lows
Crude oil wasn’t invited to the big party on Wall Street this month. Not long ago, oil prices looked poised to fly back above the $60 mark. All of a sudden now, the next stop looks more like $40 a barrel. Crude crumbled to three-month lows of $42.36 a barrel on Tuesday. That leaves oil…
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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…
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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…
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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…
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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…
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U.S:PIMCO names Man Group CEO Manny Roman as its new chief
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,…
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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…