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Finance Stories

Yahoo buys fashion website Polyvore

(Reuters) – Yahoo Inc (YHOO.O) said on Friday it agreed to buy fashion start-up Polyvore to help drive traffic and strengthen its mobile and social offerings. Yahoo, which did not disclose terms of the deal, said Polyvore will accelerate its … Continue reading

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Goldman tentatively agrees to pay $270 million to settle lawsuit: source

By Karen Freifeld (Reuters) – Goldman Sachs Group Inc has tentatively agreed to pay about $270 million to settle a lawsuit by investors, according to a source familiar with the matter. Pension funds led by NECA-IBEW Health Welfare Fund of … Continue reading

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U.S. wage growth brakes in second-quarter; consumer sentiment slips

By Lucia Mutikani WASHINGTON (Reuters) – U.S. labor costs in the second quarter recorded their smallest increase in 33 years as workers earned less in commissions and bonuses, in what appeared to be a temporary wage growth setback against the … Continue reading

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Only a payrolls surprise could shake stalling market

By Rodrigo Campos NEW YORK (Reuters) – Unless next week’s payrolls report is an outlier, investors should expect a continuation of the directionless market that has kept the SP 500 trading in place for most of the year. Should July … Continue reading

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Oil falls after OPEC comments imply no supply cut

By Christopher Johnson LONDON (Reuters) – Oil prices fell on Friday as concern over global oversupply intensified after the head of oil producers’ cartel OPEC indicated there would be no cuts in production despite a huge global oversupply. Benchmark North … Continue reading

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Exxon misses 2Q profit forecasts

IRVING, Texas (AP) — Exxon Mobil Corp. (XOM) on Friday reported second-quarter profit of $4.19 billion. On a per-share basis, the Irving, Texas-based company said it had net income of $1. The results fell short of Wall Street expectations, but … Continue reading

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Who needs the Fed? The rate hike cometh on its own

By Richard Leong and Jonathan Spicer NEW YORK (Reuters) – As traders, market pundits and economists jaw over whether the Federal Reserve this year will lift its benchmark lending rate for the first time in almost a decade, several corners … Continue reading

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Live: Wall St.’s roller coaster; Oil companies struggle; Game of Thrones bonus

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Exclusive: FCA’s Chrysler group faces U.S. product drought through 2016

By Paul Lienert DETROIT (Reuters) – Fiat Chrysler Automobiles NV will face a shortage of new products in North America over the next 18 months, especially hot-selling trucks and crossover vehicles, according to three sources familiar with the company’s plans. … Continue reading

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Toshiba scandal puts focus on Japan’s cut-price company audits

By Michelle Price HONG KONG (Reuters) – Toshiba Corp’s years-long practice of inflating its profits has raised questions among accounting experts about whether low fees paid by Japan-listed companies to their auditors mean they do not spend enough time scrutinizing … Continue reading

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