NEWS Archive

Dollar steadies as investors watch for U.S. jobs data

The dollar stabilized on Friday in Asia, as investors awaited the U.S. jobs report to help them weigh the odds of a Federal Reserve rate increase this year. Momentum on the U.S. dollar’s rise, which hit multi-month highs against the euro and the yen on Thursday, tapered off on Friday after data showed new applications [&hellip

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Elizabeth Warren calls for Social Security pay rise

Source photo New legislation introduced by Sen. Elizabeth Warren and 17 others would give Social Security recipients the same raise chief executives saw last year. The populist measure, which has little chance of passage, would give Social Security recipients a 3.9% increase, which is the same gain as the average CEO compensation rise for the [&hellip

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U.S. dollar backs off as investors dubious over Dec. U.S. rate rise

Source photo The U.S. dollar’s rising momentum eased on Thursday in Asia as market participants calibrated odds of a Federal Reserve rate increase this year. The suggestion by several Fed officials that the U.S. central bank may start raising rates in December has fueled dollar-buying in recent sessions. Fed Chairwoman Janet Yellen said Wednesday a [&hellip

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AIG’s CEO reportedly told employees that one day they’ll need to get a new job

Here’s something reasonable but also disconcerting. According to a report from Bloomberg’s Sonali Basak, AIG CEO Peter Hancock told the company’s staff in a town hall meeting on Tuesday that they shouldn’t count on a lifetime of working for the company. Citing people familiar with Hancock’s comments, Basak reported that this was “discouraging to a [&hellip

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Xchanging says Apollo Global drops out of takeover race

Source photo Insurance-focused outsourcing company Xchanging Plc said U.S.-based private equity firm Apollo Global Management LLC had dropped out of a race to potentially acquire the company. Xchanging, which offers services ranging from back-office invoice processing to insurance claims settlement, said Apollo Global had informed the company that it was no longer interested in potentially [&hellip

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Airbnb dodged a bullet in its hometown

Airbnb has survived what could have been a huge blow to its business in San Francisco. Proposition F, a local ballot measure that was seen as a threat to Airbnb in its hometown, has failed. The measure would have curbed the number of days a person can rent on the Airbnb platform — capping both [&hellip

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Volkswagen just announced a second emissions scandal and ‘the magnitude could be much bigger in scale’

A second act in Volkswagen’s massive emissions scandal just began. Late on Tuesday night VW Group announced that the company had identified “irregularities in CO2 levels” which had emerged as part of internal investigations. As many as 800,000 vehicles could be affected across the entire group, according to the release. Shares are getting crushed in [&hellip

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US auto sales crushed expectations in October

Source photo US auto sales surged past expectations once again, and remained at the highest levels in a decade. According to Autodata, sales rose at an annualized pace of 18.24 million in October. The consensus forecast was an annualized pace of 17.7 million. Throughout Tuesday, US auto-sales data for October rolled in on the heels [&hellip

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European shares sag as StanChart and Volkswagen drop

Source photo European stock markets fell on Tuesday, pegged back by a drop in the shares of British bank Standard Chartered and carmaker Volkswagen. The pan-European FTSEurofirst 300 index and the euro zone’s blue-chip Euro STOXX 50 index both declined by 0.2 percent. Volkswagen’s shares fell 4.2 percent after U.S. environmental regulators said late on [&hellip

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Activision Blizzard is buying Candy Crush maker King for $5.9 billion

Activision Blizzard is purchasing King Digital, the makers of popular game Candy Crush, for a total equity value of $5.9 billion. The deal is all cash. Activision Blizzard will $18 per share, which is nearly a $20% premium over King’s recent price. While the acquisition still has to be approved by King’s shareholders and cleared [&hellip

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