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Wall St. up as weak GDP raises hope of slower rate hikes

Wall St. up as weak GDP raises hope of slower rate hikes

REUTERS: Wall Street was higher on Friday after weak GDP data raised expectations that the U.S. Federal Reserve would go slow on future interest rate hikes. U.S. gross domestic product rose 0.7 percent in the fourth quarter, below the 0.8 percent expected, as a strong dollar and tepid global demand hurt exports. Intervention by central […]

January 29, 2016 | By | Reply More
Printer maker Xerox to split into two

Printer maker Xerox to split into two

January 29, 2016 New York: Xerox Corp said it would split into two companies, one holding its legacy hardware operations and the other its business process outsourcing unit. The printer and copier maker will give billionaire activist investor Carl Icahn, who holds an 8.13 percent stake, three seats on the board of the business process […]

January 29, 2016 | By | Reply More
Futures up as weak GDP raises hope of slower rate hikes

Futures up as weak GDP raises hope of slower rate hikes

REUTERS: Wall Street was set to open higher on Friday after weak GDP data raised expectations that the U.S. Federal Reserve would go slow on future interest rate hikes. U.S. gross domestic product rose 0.7 percent in the fourth quarter, below the 0.8 percent expected, as a strong dollar and tepid global demand hurt exports. […]

January 29, 2016 | By | Reply More
US economic growth slows to a 0.7 percent rate in fourth quarter

US economic growth slows to a 0.7 percent rate in fourth quarter

WASHINGTON, : U.S. economic growth braked sharply in the fourth quarter as businesses stepped up efforts to reduce an inventory glut and a strong dollar and tepid global demand weighed on exports. Gross domestic product increased at a 0.7 percent annual rate, the Commerce Department said on Friday, also as lower oil prices continued to […]

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MasterCard profit rises 11.1 percent as purchase volumes jump

MasterCard profit rises 11.1 percent as purchase volumes jump

REUTERS: MasterCard Inc , the operator of the world’s second-largest payments network, reported an 11.1 percent rise in quarterly profit as purchase volumes rose. The company’s net income rose to US$890 million, or 79 cents per share, in the fourth quarter ended Dec. 31 from US$801 million, or 69 cents per share, a year earlier. […]

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Japan fund undecided on Sharp; Foxconn reportedly ups offer

Japan fund undecided on Sharp; Foxconn reportedly ups offer

TOKYO: A Japanese state-backed fund said on Friday it had yet to decide on its potential rescue plan for Sharp Corp, while a media report said Taiwan’s Foxconn had raised its offer in a rival move for the struggling electronics maker. Innovation Network Corp of Japan (INCJ) officials have been discussing a capital injection of […]

January 29, 2016 | By | Reply More
Printer maker Xerox to split into two

Printer maker Xerox to split into two

REUTERS: Xerox Corp said it would split into two companies, one holding its legacy hardware operations and the other its business process outsourcing unit, in which activist investor Carl Icahn will get three board seats. Icahn, who first revealed a stake in Xerox in November, had said he would seek representation on the company’s board […]

January 29, 2016 | By | Reply More
PMET unemployment rate is higher than national average: MOM data

PMET unemployment rate is higher than national average: MOM data

SINGAPORE: While the unemployment rate of residents in Professional, Managerial, Executive & Technical (PMET) occupations rose slightly over the past five years – 2.7 per cent as of June 2015, up from 2.4 per cent in 2011 – the proportion of unemployed young adults was higher than in other age groups, according to data the […]

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Whirlpool forecasts 2016 profit largely below estimates

Whirlpool forecasts 2016 profit largely below estimates

REUTERS: Whirlpool Corp forecast 2016 earnings largely below Wall Street estimates, and said unit shipments in Brazil would fall by 10 percent this year. The world’s largest maker of home appliances said it expected 2016 ongoing business earnings per share of US$14.00-US$14.75. Analysts on average were expecting earnings of US$14.42, according to Thomson Reuters I/B/E/S. […]

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BOJ stuns markets with surprise move to negative interest rates

BOJ stuns markets with surprise move to negative interest rates

TOKYO: The Bank of Japan unexpectedly cut a benchmark interest rate below zero on Friday, stunning investors with another bold move to stimulate the economy as volatile markets and slowing global growth threaten its efforts to overcome deflation. Global equities jumped, the yen tumbled and sovereign bonds rallied after the BOJ said it would charge […]

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