Legal & Regulatory


Barclays says its Swiss private bank drops out of U.S. tax deal

Barclays' private bank in Switzerland has dropped out of a U.S. program aimed at cracking down on wealthy Americans evading taxes through hidden offshore accounts, the British bank's market head for Switzerland said on Thursday.

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Transportation app Uber

Ridesharing firm Uber suspends operations in Nevada

Ridesharing company Uber suspended its operations in the U.S. state of Nevada late on Wednesday in a setback that it said would cost nearly 1,000 jobs.

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French regulator approves Numericable-Virgin deal

France's competition watchdog said on Thursday it had given its go-ahead to Numericable's purchase of Virgin Mobile France.Numericable, which is also in the process of buying number 2 mobile operator SFR, agreed in June to buy Virgin Mobile France from owners Britain's Carphone

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FedEx Freight workers in Louisville vote against union membership

Drivers at a Louisville facility of FedEx Corp's trucking unit voted on Wednesday against union representation, dealing a blow to a concerted effort by the Teamsters to unionize the Memphis-based company.

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Sri Lanka

British lawmakers urge EU to stop Sri Lanka trade perks if UN probe not given access

Leading British lawmakers urged the European Union on Thursday to remove preferential trade tariffs from Sri Lanka if it fails to address human rights concerns.

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Post and pre-injection medications sit on a shelf at a walk-in Botox salon in New York July 17, 2007.

Ackman's Pershing Square sees big payoff from Allergan deal

Hedge fund mogul William Ackman told investors they could see a $6 billion payday when he closes the chapter on Allergan Inc., his firm's biggest bet of 2014.

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Crude Oil

U.S. House to hold hearing on oil export ban

A House of Representatives panel will hold a hearing on Dec. 11 to explore whether a decades-old law that prohibits the export of crude oil makes sense in an era of domestic energy abundance.

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Currencies: Euro, Dollar, Yen, Pound

Countries engaging in currency wars?

The central banks are finding it difficult to boost growth by increasing domestic demand and hence the need to depend upon foreign demand. The progressive rate cuts and monetary easing measures have led to massive falls in these currencies thereby helping these countries to increase exports.

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Satya Nadella

Microsoft sues IRS for details of probe on internal transactions

Microsoft sued the Internal Revenue Service on Monday, seeking information about a law firm hired by U.S. tax authorities in a review of how the software company books sales between subsidiaries.

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No Smoking

China considers tougher tobacco controls: Xinhua

China, the world's biggest tobacco market, is considering a draft regulation that would ban indoor smoking, limit outdoor smoking and end tobacco advertising, the state-run Xinhua news agency has reported.

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EU digital tsar warns monopolists; Google foes play down call for break-up

The European Union's top official for digital markets said on Monday he was concerned that big tech companies may be abusing dominant positions, but he also said investigations into Google must not be rushed.

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Cyber attack

Computer spying malware uncovered with 'stealth' features: Symantec

An advanced malicious software application has been uncovered that since 2008 was used to spy on private companies, governments, research institutes and individuals in 10 countries, anti virus software maker Symantec Corp said in a report on Sunday.

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Financial Markets Tokyo

BOJ's quantitative easing affecting Asian markets

Last month the Bank of Japan announced aggressive easing of its monetary policy and shocked the global financial markets.This led to the yen hitting fresh lows against the dollar. The weakening of the yen is believed to reverberate through the Asian markets.

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Chinese Yuan Notes

China ready to cut rates again on fears of deflation - sources

China's leadership and central bank are ready to cut interest rates again and also loosen lending restrictions, concerned that falling prices could trigger a surge in debt defaults, business failures and job losses, said sources involved in policy-making.

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People's Bank of China

PBOC cuts benchmark interest rates

Recently released Chinese data suggest a grim economic outlook for the country. Foreign direct investment has been consistently declining; consumer price index showed some stability this month but remained below 2 percent, flash manufacturing PMI also declined in November and gross domestic product fell to its slowest pace since the global financial crisis, registering 7.3 percent year-on-year expansion in the third quarter.

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