Business News Headlines

World stocks advance on strong data, earnings

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LONDON - Global stocks climbed on Monday, with strong U.S. data and encouraging third-quarter earnings easing concerns about the pace of global economic recovery and raising appetite for riskier assets.

4:42am EDT

Market action reinforces need for policy patience: Fed's Rosengren

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BOSTON - The recent volatility in financial markets reinforces the need for the Federal Reserve to be patient with its policy stimulus and to clearly tie an eventual interest-rate rise to improving economic conditions, a top Fed policymaker told Reuters.

5:14am EDT

IBM to pay Globalfoundries to take chip unit

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- IBM Corp said it would hive off its loss-making semiconductor unit to contract-chipmaker Globalfoundries Inc to focus on cloud computing, mobile and big data analytics.

Tech, Deals 7:08am EDT

Adidas shares jump on report of bid for Reebok unit

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BERLIN - Shares in German sportswear firm Adidas AG jumped on Monday after the Wall Street Journal reported that an investor group that includes Jynwel Capital and funds affiliated with the Abu Dhabi government planned a $2.2 billion bid to buy Reebok.

Deals, Money 5:27am EDT

SAP cloud sales quicken, deferred sales hit outlook

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FRANKFURT - German business software maker SAP on Monday cut its outlook for full-year operating profit amid an accelerating shift by customers to buy its software over the Internet rather than as packaged software, delaying recognition of those sales.

2:43am EDT

Credibility meets compromise in Europe's bank stress test

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LONDON - When Europe announced its latest health check of top banks early last year it promised a "comprehensive assessment" of how well prepared they were to withstand another financial crisis.

7:12am EDT

Yahoo set to outline cost-cutting efforts: WSJ

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- Yahoo Inc is expected on Tuesday to outline cost-cutting efforts and give details of how it is evaluating possible acquisitions as it faces pressure from an activist investor, the Wall Street Journal reported, citing a person who was briefed on the plan.

4:02am EDT

StanChart readies to close thousands of UAE accounts as U.S. deadline looms

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- Standard Chartered has notified thousands of UAE small and medium enterprise customers it is closing their accounts as it responds to pressure from US regulators to cut its risks following an anti-money laundering settlement.

2:17am EDT

Japan firms want government action if yen weakens: Reuters poll

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TOKYO - Nearly half of Japanese firms think the government should start defending the yen at this month's dollar high of 110, a Reuters survey shows, underscoring the threat that rising fuel and other import costs pose to a fragile economy.

1:19am EDT

Pilots extend Lufthansa strikes to long-haul flights

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FRANKFURT - German pilots union VC on Monday widened its strike at Lufthansa to include long-haul flights on Tuesday, having previously targeted only the carrier's short and medium-haul routes on Monday and Tuesday.

3:54am EDT
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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.