Business News Headlines

Asian shares take cue from Wall Street's rally

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TOKYO - Asian shares took their cues from Wall Street and kicked off a holiday-shortened week on a strong footing on Monday, while the euro touched a fresh two-year low against the greenback on divergent monetary policy expectations.

10:30pm EST

Saudi Arabia says won't cut oil output

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ABU DHABI - Saudi Arabia said on Sunday it would not cut output to prop up oil markets even if non-OPEC nations did so, in one of the toughest signals yet that the world's top petroleum exporter plans to ride out the market's biggest slump in years.

10:41pm EST

American Apparel adopts new stockholder rights plan

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- Struggling retailer American Apparel Inc said it has adopted a new, one-year stockholder rights plan with a 10 percent trigger.

11:00pm EST

Mexico competition watchdog signs off on AT&T's Iusacell buy

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MEXICO CITY - Mexico's competition regulator on Sunday approved AT&T Inc's $1.7 billion purchase of local cellphone company Iusacell, with unspecified conditions, a statement said.

Tech, Deals 7:46pm EST

U.S. gas prices fall to lowest since May 2009: Lundberg survey

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NEW YORK - The average price of a gallon of gasoline in the United States fell 25 cents in the past two weeks, tumbling to its lowest level in more than five-and-a-half years, according to the Lundberg survey released Sunday.

2:07pm EST

Obama says Sony hack not an act of war

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WASHINGTON - U.S. President Barack Obama moved to prevent U.S. anger at North Korea from spiraling out of control on Sunday by saying the massive hacking of Sony Pictures was not an act of war but instead was cyber-vandalism. | Video

Flying back on course: the inside story of the new Airbus A350 jet

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PARIS - Ten years ago, the boss of Qatar Airways, who takes his first new A350 jet this week, warned Airbus it was flying off course.

8:24pm EST

Exclusive: Southwest's oil swap trade waiver raises CFTC questions

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WASHINGTON - Last month's move by the U.S. commodities regulator to let Southwest Airlines Co keep its multibillion-dollar oil trades secret for 15 days offered the world's biggest low-cost carrier a break it has been seeking for three years.

12:31pm EST

China stock connect scheme scorecard throws up surprises

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HONG KONG - A month after China opened up its equity markets in a landmark trading link with Hong Kong, demand has been subdued and the bulk of activity has come from short-term speculative investors.

4:13pm EST

Capital hike, asset sales to fill gap at Monte Paschi: chairman

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VIENNA - Italian lender Monte dei Paschi di Siena expects to complete its planned capital increase by July and can use divestments to help plug a hole in its balance sheet, Chairman Alessandro Profumo told an Austrian newspaper.

3:11am EST
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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.