Category: US
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Apple: iPhone 7 helps US giant return to growth
Apple reported its highest ever quarterly revenue, as the iPhone 7 helped it return to a growth in sales in the final three months of 2016. In its first full quarter since the iPhone 7’s release, Apple reported net sales of $78.4bn (£62.3bn), up 3% on the same period a year ago. Chief executive Tim…
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Trump: Pharmaceutical executives told to cut drug prices
US President Donald Trump has called on pharmaceutical bosses to cut “astronomical” drug prices. During a White House meeting with senior pharmaceutical executives he told the firms to manufacture more of their drugs in the US. However, he also vowed to help the firms by speeding the approval of new medicines and by cutting taxes.…
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U.S. consumer spending, housing data bolster economic outlook
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…
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How Toyota, Target, Best Buy are fighting back against Republican border tax push
Days before a group of Republican lawmakers were due to discuss their party’s controversial proposal to tax all imports, Toyota Motor Corp (7203.T) sent an urgent message to its U.S. dealers – tell the politicians the tax would seriously hurt car buyers. Some of Toyota’s 1,500 dealers heeded the call and contacted members of the…
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Fed likely to keep rates steady as it awaits Trump economic plan
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…
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U.S. consumer spending, housing data bolster economic outlook
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…
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Snap selects New York Stock Exchange for IPO: source
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…
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Johnson & Johnson to buy Actelion for $30 billion, spin off R&D unit
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…
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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…
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U.S. judge approves Volkswagen dealers $1.2 billion settlement
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…