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IBM shareholder sues company, alleging it overvalued chip unit

NEW YORK (Reuters) – IBM Corp was sued on Monday by a shareholder that said it committed securities fraud by failing to write down a money-losing semiconductor unit before agreeing to pay another company $1.5 billion to take that unit … Continue reading

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Wall St. rallies; Nasdaq hits highest level since 2000

NEW YORK (Reuters) – The Nasdaq on Monday closed above 5,000 for the first time since the year 2000 dot-com bubble as tech stocks were boosted by deals, while the SP 500 and Dow indexes hit records after economic data … Continue reading

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Weak U.S. consumer spending points to slower first-quarter growth

WASHINGTON (Reuters) – U.S. consumer spending fell for a second straight month in January as households continued to cut back on purchases, opting to save much of the massive windfall from cheaper gasoline.  Other data on Monday showed factory activity … Continue reading

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Apple, Google poaching settlement appears headed for approval

SAN FRANCISCO (Reuters) – A U.S. judge on Monday seemed satisfied with a proposed $415 million settlement that would end a lawsuit in which tech workers accused Apple Inc, Google Inc and two other Silicon Valley companies of conspiring to … Continue reading

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Exclusive: Nemtsov killing sign of worsening climate in Russia

WASHINGTON (Reuters) – President Barack Obama said on Monday that the killing of opposition figure Boris Nemtsov is a sign of a worsening climate in Russia where civil rights and media freedoms have been rolled back in the last several … Continue reading

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Exclusive: Obama sharply criticizes China’s plans for new technology rules

WASHINGTON (Reuters) – President Barack Obama on Monday sharply criticized China’s plans for new rules on U.S. tech companies, urging Beijing to change the policy if it wants to do business with the United States and saying he had raised … Continue reading

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Obama, Israel’s Netanyahu clash over Iran diplomacy

WASHINGTON (Reuters) – President Barack Obama and Benjamin Netanyahu clashed over Iran nuclear diplomacy on Monday on the eve of the Israeli prime minister’s hotly disputed address to Congress, underscoring the severity of U.S.-Israeli strains over the issue. Even as … Continue reading

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Exclusive: Obama says Iran must halt key nuclear work for at least a decade

WASHINGTON (Reuters) – Iran must commit to a verifiable freeze of at least 10 years on sensitive nuclear activity for a landmark atomic deal to be reached, but the odds are still against sealing a final agreement, U.S. President Barack … Continue reading

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Berkshire insurance ‘superstar’ could fill Buffett’s shoes

NEW YORK (Reuters) – Warren Buffett, at a news conference in Bengaluru in 2011, lavishly praised Berkshire Hathaway executive Ajit Jain for smoothly running much of the conglomerate’s insurance businesses. Buffett, the billionaire chief executive officer and chairman of Berkshire, … Continue reading

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China February HSBC PMI at seven-month high

BEIJING (Reuters) – Activity in China’s factory sector edged up to a seven-month high in February but export orders shrank and deflationary pressures persisted, a private business survey showed, adding to the view that yet more interest rate cuts will … Continue reading

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