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OPEC agrees modest oil output curbs in first deal since 2008

ALGIERS OPEC agreed on Wednesday modest oil output cuts in the first such deal since 2008, with the group's leader Saudi Arabia softening its stance on arch-rival Iran amid mounting pressure from low oil prices. | Video

Banks & monetary policy

Recent Business News

Samsung expects to get over 80 percent of recalled Note 7s in South Korea by October 1

SEOUL Samsung Electronics Co Ltd said on Thursday it expects to have recovered more than 80 percent of recalled Galaxy Note 7 smartphones sold in South Korea by Oct. 1, when the firm plans to resume sales of the device in its home market.

10:17pm EDT

Apple deepens enterprise push with Deloitte partnership

Apple Inc and Deloitte LLP announced a partnership on Wednesday in which the consultant will open a new practice to help corporate clients work with Apple products, the tech firm's latest attempt to boost enterprise sales as its key product, the iPhone, shows signs of maturation.

5:02pm EDT

AIG's ex-CEO Greenberg cites lawyers, accountants in fraud defense

NEW YORK Maurice "Hank" Greenberg, the 91-year-old former chairman of former American International Group Inc , said at his fraud trial that he never would have considered doing a transaction that failed to pass muster with the insurer’s lawyers and accountants.

6:54pm EDT

Citigroup becomes last big U.S. bank to join payments network

NEW YORK Citigroup Inc on Wednesday became the last of the big U.S. banks to agree to allow customers to send instant payments by mobile phone over an industry network that is competing with upstart Venmo.

Tech, Money 5:51pm EDT

South Korea prosecutors may re-submit arrest warrant request for Lotte chairman: Yonhap

SEOUL South Korean prosecutors are considering submitting a second request for an arrest warrant for Lotte Group chairman Shin Dong-bin, after their first request was rejected by a Seoul court, wire service Yonhap reported on Thursday.

10:47pm EDT


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