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Asian shares take hit as new virus cases jump outside China
| February 24th, 2020  1:54 AM
Asian shares take hit as new virus cases jump outside China
BANGKOK (AP) — Shares skidded in Asia on Monday after reports of a surge in new virus cases outside China. The decline followed a sell-off Friday on Wall Street. South Korea's Kospi dropped 3.9% to 2,079.04, while the S&P ASX/200 in Sydnay lost 2.3% to 6,978.30. Hong Kong's Hang Seng dropped 1.6% to 26,865.61 and the Shanghai Composite index lost 0.3% to 3,030.25.
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Asian shares take hit as new virus cases jump outside China
Asian shares take hit as new virus cases jump outside China
| February 24th | 2020  1:54AM
Asian shares take hit as new virus cases jump outside China
BANGKOK (AP) — Shares skidded in Asia on Monday after reports of a surge in new virus cases outside China. The decline followed a sell-off Friday on Wall Street. South Korea's Kospi dropped 3.9% to 2,079.04, while the S&P ASX/200 in Sydnay lost 2.3% to 6,978.30. Hong Kong's Hang Seng dropped 1.6% to 26,865.61 and the Shanghai Composite index lost 0.3% to 3,030.25.
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Supreme Court wades into battle over Atlantic Coast Pipeline
Supreme Court wades into battle over Atlantic Coast Pipeline
| February 24th | 2020  1:36AM
Supreme Court wades into battle over Atlantic Coast Pipeline
The U.S. Supreme Court is set to wade into a long-running battle between developers of a 605-mile (975-kilometer) natural gas pipeline and environmental groups who oppose the pipeline crossing the storied Appalachian Trail. On Monday, the high court will hear arguments on a critical permit needed by developers of the Atlantic Coast Pipeline. …
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This Week: Consumer confidence, home sales, Best Buy earns
Economy news icon
| February 24th | 2020  1:10AM
This Week: Consumer confidence, home sales, Best Buy earns
A look at some of the key business events and economic indicators upcoming this week: EYE ON CONSUMERS The Conference Board issues its latest index of consumer confidence on Tuesday. Economists expect this month's index will show a reading of 132.5. That would be the highest reading since August. Continued strength in the job market and low unemployment has helped keep the index elevated.
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China promises companies aid, says growth targets can be met
China promises companies aid, says growth targets can be met
| February 24th | 2020  12:08AM
China promises companies aid, says growth targets can be met
BEIJING (AP) — Regulators on promised tax cuts and other aid Monday to help companies recover from China’s virus outbreak and expressed confidence the ruling Communist Party’s growth targets can be achieved despite anti-disease controls that shut down much of the economy. At a news conference, finance and planning officials said they…
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Survey: Business economists endorse Federal Reserve policies
Government policy news icon
| February 24th | 2020  12:01AM
Survey: Business economists endorse Federal Reserve policies
WASHINGTON (AP) — Nearly two-thirds of U.S. business economists say the Federal Reserve's interest rate policy is “about right,” a sharp contrast to President Donald Trump's attacks on the Fed for not cutting rates more aggressively. A survey by the National Association for Business Economics found that just 4% of economists consider…
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Teck pulls application to build huge Alberta oil sands mine
Environment and nature news icon
| February 23rd | 2020  11:16PM
Teck pulls application to build huge Alberta oil sands mine
TORONTO (AP) — A Canadian company said Sunday that it has withdrawn its application to the federal government to approve a huge open-pit oil sands mine in Alberta. Teck Resources Ltd. said there was no constructive path forward for the project and will write down its cost. “Global capital markets are changing rapidly and…
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Teck pulls application to build Alberta oil sands mine
Energy industry news icon
| February 23rd | 2020  10:28PM
Teck pulls application to build Alberta oil sands mine
TORONTO (AP) — A Canadian company said Sunday that it has withdrawn its application to the federal government to approve a huge open-pit oil sands mine in Alberta. Teck Resources Ltd.'s chief executive, Don Lindsay, said investors and customers increasingly want jurisdictions to have a framework in place that reconciles resource development and climate change.
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UN study: 1 of every 3 Venezuelans is facing hunger
UN study: 1 of every 3 Venezuelans is facing hunger
| February 23rd | 2020  7:23PM
UN study: 1 of every 3 Venezuelans is facing hunger
CARACAS, Venezuela (AP) — One of every three people in Venezuela is struggling to put enough food on the table to meet minimum nutrition requirements as the nation's severe economic contraction and political upheaval persists, according to a study published Sunday by the U.N. World Food Program. A nationwide survey based on data from…
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Stalled mega power project in central Mexico stirs discord
Stalled mega power project in central Mexico stirs discord
| February 23rd | 2020  6:07PM
Stalled mega power project in central Mexico stirs discord
HUEXCA, Mexico (AP) — The thermo-electric plant looms over the smattering of homes and cows munching on dried corn stalks in Huexca, a tiny farm community in central Mexico where many residents view it as a sleeping monster ready to roar to life. During test runs of equipment in the still idle power plant, residents say, the noise reached…
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Report says Intuit nearing $7 billion deal for Credit Karma
Corporate news news icon
| February 23rd | 2020  4:12PM
Report says Intuit nearing $7 billion deal for Credit Karma
NEW YORK (AP) — Intuit Inc. is reportedly close to a $7 billion deal to acquire personal-finance portal Credit Karma Inc. and beef up its position in the consumer-finance market. The Wall Street Journal, citing sources familiar with the talks, reported Sunday that a deal involving cash and stock could be announced as soon as Monday. Intuit makes TurboTax.
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US gas prices steady at $2.53 per gallon over past 2 weeks
Energy industry news icon
| February 23rd | 2020  1:59PM
US gas prices steady at $2.53 per gallon over past 2 weeks
CAMARILLO, Calif. (AP) — The average U.S. price of regular-grade gasoline remained steady at $2.53 per gallon over the past two weeks. Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday that the price at the pump averages 9 cents higher than it was a year ago. The highest average price in the nation for regular-grade gas is $3.54 per gallon in San Diego.
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View of a longtime economist: Slower growth but no recession
View of a longtime economist: Slower growth but no recession
| February 23rd | 2020  10:30AM
View of a longtime economist: Slower growth but no recession
WASHINGTON (AP) — In this high-profile election year, the U.S. economy boasts an unemployment rate that is near its lowest level in a half-century. But economic growth has been slowing. And some economists say the expansion may be vulnerable to risks ranging from the U.S.-China trade war to China's deadly viral outbreak. …
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Top Bangladesh cellphone company pays $117M in legal tussle
Government business and finance news icon
| February 23rd | 2020  10:28AM
Top Bangladesh cellphone company pays $117M in legal tussle
DHAKA,Bangladesh (AP) — Bangladesh’s leading cellphone operator paid $117 million to the country’s telecommunication regulator on Sunday amid a protracted legal tussle with the government that could result in the loss of its license to operate in one of the world’s fastest-growing mobile markets, officials said. Zakir Hossain Khan, a…
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China's Xi says epidemic 'grim,' calls for action on economy
China's Xi says epidemic 'grim,' calls for action on economy
| February 23rd | 2020  10:18AM
China's Xi says epidemic 'grim,' calls for action on economy
BEIJING (AP) — Warning that China’s virus epidemic is “still grim and complex,” President Xi Jinping called Sunday for more efforts to stop the outbreak, revive industry and prevent the disease from disrupting spring planting of crops. Xi defended the ruling Communist Party’s response as “timely and effective” in a video conference with officials in charge of anti-disease work, according to the official Xinhua News Agency.
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Milan Fashion Week carries on amid virus, economic concern
Economy news icon
| February 22nd | 2020  4:19PM
Milan Fashion Week carries on amid virus, economic concern
MILAN (AP) — Runway shows continued apace on the fourth day of Milan Fashion Week as the itinerant fashion crowd took an analytical attitude toward the cases of the virus from China clustered not far away in northern Italy. Milan city officials closed offices as a precaution as the number of confirmed coronavirus cases grew in an area just an hour outside of the fashion capital.
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FDA approves drug that lowers cholesterol in a new way
FDA approves drug that lowers cholesterol in a new way
| February 22nd | 2020  4:10PM
FDA approves drug that lowers cholesterol in a new way
TRENTON, N.J. (AP) — U.S. regulators on Friday approved a new type of cholesterol-lowering drug aimed at millions of people who can't tolerate — or don't get enough help from — widely used statin pills like Lipitor and Crestor. The Food and Drug Administration approved Esperion Therapeutics Inc.’s Nexletol for people genetically predisposed…
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At Paris farm fair, Macron vows to protect EU ag subsidies
At Paris farm fair, Macron vows to protect EU ag subsidies
| February 22nd | 2020  1:36PM
At Paris farm fair, Macron vows to protect EU ag subsidies
PARIS (AP) — French President Emmanuel Macron reaffirmed his support for maintaining the European Union's farm subsidies at their current level Saturday while attending an agriculture fair that a fixture in French politics. Macron defended the EU's system of agricultural subsidies - a major source of funding for French farmers - during…
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Buffett says Wall Street advice usually favors more deals
Warren Buffett
| February 22nd | 2020  1:35PM
Buffett says Wall Street advice usually favors more deals
OMAHA, Neb. (AP) — Taking advice from Wall Street on deals is a bit like asking “the barber whether you need a haircut,” according to billionaire Warren Buffett. Buffett said in his annual letter to Berkshire Hathaway shareholders Saturday that the current system of reviewing deals doesn't always work well for investors because it almost always favors the deal that corporate CEOs propose.
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Morgan Stanley Asks E-Trade to Dance
News Icon
| February 21st | 2020  1:00AM
Morgan Stanley Asks E-Trade to Dance
With a plus 20% jump in its share price, E-Trade (NASDAQ: ETFC) was the standout performer in the S&P 500 on Wednesday after Morgan Stanley (NYSE: MS) announced their purchase of the online broker for a cool $13 billion. Few will be surprised that E-Trade is getting picked up, given how quickly the big trading names have swallowed up the more niche…
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