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Citigroup sells stake in Turkey's Akbank for $1.2 billion

Breaking Business News - 40 min 33 sec ago
ISTANBUL (Reuters) - Citigroup has sold its nearly 10 percent stake in Turkey's Akbank for $1.2 billion, the U.S. bank said on Thursday, in its latest sale of overseas assets to cut costs and raise profits.

Citigroup's past losses may have helped it win Costco business

Breaking Business News - 54 min 23 sec ago
NEW YORK (Reuters) - Citigroup Inc had at least one advantage in its successful bid for the exclusive right to issue credit cards for Costco Wholesale Corp, rivals and tax specialists say: it lost so much money during the financial crisis that it has billions of dollars of tax credits.






AbbVie to buy Pharmacyclics for $21 billion to boost cancer drugs pipeline

Breaking Business News - 1 hour 5 min ago
(Reuters) - Drugmaker AbbVie Inc said it will buy Pharmacyclics Inc , the maker of blockbuster cancer drug Imbruvica, for about $21 billion to broaden its oncology drugs pipeline.

Banks brace for Fed capital buffers inspection

Breaking Business News - 1 hour 35 min ago
WASHINGTON (Reuters) - 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.






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

Breaking Business News - 2 hours 2 min ago
TOKYO (Reuters) - 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.






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

Breaking Business News - 2 hours 12 min ago
(This March 4 story corrects job cuts at corporate locations to 16,000 from 26,000, in fifth paragraph)

China signals 'new normal' with lower annual growth target

Breaking Business News - 2 hours 21 min ago
BEIJING (Reuters) - 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.






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

Breaking Business News - 2 hours 22 min ago
BEIJING (Reuters) - 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.

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

Breaking Business News - 2 hours 41 min ago
SINGAPORE (Reuters) - 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.

Euro zone rebuffs Spanish talk of new Greek bailout

Breaking Business News - Wed, 03/04/2015 - 21:27
BARCELONA/BRUSSELS (Reuters) - Germany and the European Commission slapped down talk of a third financial rescue for Greece as premature, after Spain once again suggested on Wednesday that a new aid package for Athens was almost inevitable.

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

Breaking Business News - Wed, 03/04/2015 - 21:26
NEW YORK (Reuters) - 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.






U.S. oil rises, Brent pares losses on Iran news

Breaking Business News - Wed, 03/04/2015 - 21:10
NEW YORK (Reuters) - U.S. oil futures rose on Wednesday and benchmark Brent pared losses as OPEC member Iran stressed that it opposed a timeline for a freeze on nuclear activities, news that helped crude rebound from an early slide tied to swelling U.S. stockpiles.

China aims for around seven percent economic growth in 2015: Premier Li

Breaking Business News - Wed, 03/04/2015 - 20:58
BEIJING (Reuters) - China aims to grow its economy by around 7 percent in 2015 and to keep consumer inflation at around 3 percent, Premier Li Keqiang said in remarks prepared for delivery at today's opening of the annual meeting of parliament, the National People's Congress.

UBS poaches executives from Evercore for its U.S. unit: WSJ

Breaking Business News - Wed, 03/04/2015 - 19:41
(Reuters) - UBS Group AG has hired a team of three executives for its U.S. consumer and retail investment banking unit from boutique investment bank Evercore Partners Inc , the Wall Street Journal reported citing an internal memo it saw.

U.S. oil rises, Brent pares losses on Iran news

Breaking Business News - Wed, 03/04/2015 - 17:53
NEW YORK (Reuters) - U.S. oil futures rose on Wednesday and benchmark Brent pared losses as OPEC member Iran stressed that it opposed a timeline for a freeze on nuclear activities, news that helped crude rebound from an early slide tied to swelling U.S. stockpiles.






Fox Business renews “Strange Inheritance”

Talking Biz News - Wed, 03/04/2015 - 17:52
Fox Business Network announced Wednesday that it has renewed its reality show “Strange Inheritance” for a second season. Hosted by Jamie Colby, the first season debuted on Jan. 26 and was the highest-rated show...

Wall Street down for second day after rally; healthcare gains

Breaking Business News - Wed, 03/04/2015 - 17:32
NEW YORK (Reuters) - U.S. stocks closed down on Wednesday for the second day in a row as investors stepped back after a recent rally ahead of jobs data due later in the week.






WSJ names photo director, hires deputy photo director

Talking Biz News - Wed, 03/04/2015 - 17:19
Jessica Yu, global visuals editor at The Wall Street Journal, sent out the following announcement to the staff: We are thrilled to make two photo department staff announcements that are crucial in our ongoing...

U.S. service sector activity ticks up in February

Breaking Business News - Wed, 03/04/2015 - 15:49
NEW YORK (Reuters) - 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.






Confusion remains about WSJ byline rule

Talking Biz News - Wed, 03/04/2015 - 15:44
Jim Romenesko reports that Wall Street Journal management and the union that represents its business reporters are disagreeing about whether there is a limit on the number of names that can appear for a...