United States

Fed rate hike seen with steady July jobs growth

Based on the July jobs data, the United States may be headed for an interest rate hike, a sign the economy is in good health.

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Abercrombie & Fitch ends 'on-call' shift in all of its outlets in the U.S. starting September

Abercrombie & Fitch confirmed it would end on-call scheduling to its employees on September in response to New York Attorney General Eric Schneiderman's letter regarding the 'illegal' irregular work shift.

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China's July exports slump 8 percent, raises pressure for more stimulus

Chinese exports tumbled 8.3 percent in July, their biggest drop in four months and far worse than expected, reinforcing expectations that Beijing will be forced to roll out more stimulus to support the world's second-largest economy.

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Dollar, bond yields up on Fed rate risk

Asian shares markets got off to a watchful start on Wednesday as the mounting risks of a hike in U.S. interest rates as early as next month lifted the dollar and sovereign bond yields, pressuring currencies across the region.

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Victoria's Secret is losing $9B for casting out plus-size lingerie

Victoria's Secret, the leading lingerie brand dominating the 35% of the market is losing $9 billion opportunity for missing out plus-sized underwear in the line.

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Flipboard raises new $50M fund for expansion - reports

Popular news-reading app Flipboard has raised $50 million from a sole investor to boost manpower and infrastructure, reports say.

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Running out of steam: Energy sector is underperformer among all 10 sectors in S&P 500

Energy sector was the prime culprit among other stocks including materials and biotech, that pulled S&P 500 and Dow Jones lower recently. S&P 500 fell 2.2% and Dow eased 2.9% during the week ended 24 July. S&P 500 suffered biggest weekly decline since March.

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Oil drops on concerns of glut in refined products

Oil dropped on Monday as signs of a growing glut in refined products outweighed a fall in Saudi crude exports and slower U.S. rig activity.

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Inside Darkode: a malware called Dendroid designed to steal data from Android phones

The Federal Bureau of Investigation has taken down an alleged major hacker's forum on the Internet. This was announced by the agency through the webpage of the US Department of Justice's Office of Public Affairs.

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EU steps up pressure for rapid deal to revive asset-backed debt

European Union reform of the securitized debt market to help to revive the region's economy is likely to be binding on member countries to speed up change, a senior official from the bloc's executive body said on Tuesday.

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$1 coffee chain taps into Israeli anger over high cost of living

With a $1 cup of coffee, Avi Katz is starting to do something Israelis have been demanding for years and politicians have failed to achieve -- lower the cost of living.

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U.S. light oil exports double in May, mostly to Europe

U.S. exports of ultra-light crude, also known as condensate, have doubled since the start of the year, with most shipments headed to Europe, according to traders familiar with the deals and data from an energy consultant.

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China-backed multilateral bank to take concrete shape this week

One of China's biggest ever foreign policy successes will take concrete shape on Monday when delegates from 57 countries sign an agreement on the Asian Infrastructure Investment Bank (AIIB) in Beijing.

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Congress victory moves Obama's Pacific trade pact forward

U.S. lawmakers approved legislation key to securing a hallmark Pacific trade deal by a comfortable margin on Wednesday, advancing President Barack Obama's efforts to strengthen U.S. economic ties with Asia.

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U.S., China appear to get little done in removing economic barriers

The United States and China urged each other on Wednesday to remove barriers to foreign investment, saying that business ties were vital to overall relations, although they appeared to achieve little beyond rhetoric at a high profile three-day meeting that was overshadowed by security rivalries.

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