Business News Headlines

AbbVie to buy cancer drug maker Pharmacyclics in $21 billion deal

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- Drugmaker AbbVie Inc said it will buy Pharmacyclics Inc , the maker of blockbuster cancer drug Imbruvica, for about $21 billion to boost its oncology drugs pipeline.

12:01am EST

Asia stocks slip, euro hits 11-year low before ECB

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TOKYO - Asian stocks slipped on Thursday after Wall Street continued to pull back from record highs ahead of Friday's closely-watched U.S. jobs data, while the nervous euro languished at an 11-year low prior to the European Central Bank's policy meeting.

12:55am EST

China signals 'new normal' with lower annual growth target

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BEIJING - China announced an economic growth target for 2015 of around 7 percent on Thursday and said it would boost government spending, signaling that the lowest rate of expansion for a quarter of a century is the "new normal" for the world's No.2 economy.

12:36am EST

Brent sticks above $60; Iran news offsets bearish U.S. stockpiles data

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SINGAPORE - Brent crude was flat on Thursday, managing to hold above $60 a barrel as investors brushed aside bearish U.S. inventories data to focus on the lack of a deal in talks over Iran's nuclear program.

12:16am EST

Huawei, Intel expand tie-up amid China's rising scrutiny of U.S. tech firms

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BEIJING - China's Huawei Technologies Co Ltd [HWT.UL] and Intel Corp are expanding an existing alliance to provide cloud computing to global telecoms carriers, as U.S. tech firms vie for Chinese tie-ups to retain access to a tough mainland market.

Tech, China 12:35am EST

Wed, Mar 4 2015

U.S. service sector activity ticks up in February

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NEW YORK - A gauge of growth in the U.S. services sector was modestly stronger than expected in February, helped as an index on employment rebounded from recent weakness.

04 Mar 2015

Banks brace for Fed capital buffers inspection

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WASHINGTON - The largest U.S. banks and their foreign rivals are facing a tough two-step check-up of their financial health by the Federal Reserve, forcing the firms to get a far better grip on how they measure risk.

U.S. private sector adds jobs in February, but growth slows: ADP

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NEW YORK - U.S. private employers added fewer jobs than expected last month, with the gains declining as well from January's revised level as growth slowed in some sectors, a payrolls processor report showed on Wednesday. | Video

04 Mar 2015

Fed's Evans wants no rate hikes until early 2016

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LAKE FOREST, Ill. - The Federal Reserve should wait until next year before raising interest rates or risk undermining the very recovery it has helped engineer, a top U.S. central banker said on Wednesday.

04 Mar 2015

Target to cut thousands of jobs as seeks to cut costs by $2 billion

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(This March 4 story corrects job cuts at corporate locations to 16,000 from 26,000, in fifth paragraph)

12:45am 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.