WASHINGTON - U.S. consumer spending unexpectedly fell in July as savings rose to their highest level in more than 1-1/2 years, indicating that households remain cautious despite an acceleration in economic growth.
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LONDON - Tesco will slash its dividend and investment spending to give its new boss more firepower to rebuild Britain's biggest retailer, after a second profit warning in two months showed the scale of the task he faces. | Video
TOKYO - Japan's SoftBank Corp and its U.S. mobile carrier Sprint Corp will offer a Sony smartphone for the first time, sources with knowledge of the matter said, as the two technology titans confront daunting challenges in the U.S. market.
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