Business News Headlines

Asian shares drift lower, India surprises with rate cut

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TOKYO - Asian shares fell on Wednesday as investors grew cautious before upcoming central bank meetings and U.S. jobs data, while India's central bank surprised with its second inter-meeting rate cut this year.

2:08am EST

Tue, Mar 3 2015

Pimco CIO Ivascyn says 'late decision-makers' behind withdrawals

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NEW YORK - Pimco's top investment officer said on Tuesday that "late decision makers" are largely behind a rush of withdrawals from its flagship bond fund some five months after the departure of longtime manager Bill Gross, but the outflows should taper off before long.

03 Mar 2015

Target to cut thousands of jobs

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- U.S. retailer Target Corp on Tuesday said it planned to cut several thousand jobs, mainly from headquarters locations, as part of a restructuring that will cut $2 billion in costs over two years.

03 Mar 2015

Apple exploring settlement with electric car battery maker

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- Apple Inc is discussing a settlement in a lawsuit brought by electric car battery maker A123 Systems, which accused the iPhone maker of poaching top engineers to build a large-scale battery division.

03 Mar 2015

Brent holds above $60 after Saudi price increases

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SINGAPORE - Brent dipped on Wednesday but held above $60 a barrel, supported by a rise in Saudi crude prices and air strikes on oil facilities in Libya.

3:03am EST

U.S. firms in China expect less rosy times as economy slows: survey

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SHANGHAI - U.S. companies in China have a less rosy outlook for business conditions over the next five years due to a slowing economy, an "opaque" regulatory environment and rising domestic competition, a U.S. business lobby survey showed on Wednesday.

03 Mar 2015

DuPont rejects activist request to change how directors are elected

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- DuPont on Tuesday rejected a push to let shareholders split their votes between company-backed directors and those nominated by activist investors in an escalating proxy battle with Nelson Peltz.

03 Mar 2015

Toyota diversifies top executive ranks

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TOKYO - Toyota Motor Corp said on Wednesday it will promote two foreigners to senior posts - one marking the first woman to hold an executive title - in a drive towards diversifying its management, long dominated by Japanese men.

2:24am EST

China February HSBC services PMI edges up

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BEIJING - Activity in China's services sector grew modestly in February as new orders rose at their quickest pace in three months, a private survey showed just a few days after the central bank cut interest rates to stimulate the world's second-largest economy.

03 Mar 2015

Springleaf to buy Citi's OneMain to become top U.S. subprime lender

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- Springleaf Holdings Inc said it would buy Citigroup Inc's OneMain Financial Holdings Inc for $4.25 billion in cash, creating the largest subprime lender in the United States. | Video

03 Mar 2015
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Key retirements mean a changing of the guard next year in U.S. Congress

Regardless what voters decide in the November elections, there will be a major changing of the guard next year in the U.S. Congress as result of a number of key retirements.