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26/05/2017

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Exclusive: Bankrupt Westinghouse ends pensions for ex-CEOs, executives


Bankrupt Westinghouse Electric Co LLC, the U.S. nuclear technology firm owned by Toshiba Corp (6502.T), has stopped making pension payments to former executives, according to a letter seen by Reuters, removing a benefit that has helped the company retain top talent.


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Jobless claims edge up; goods trade deficit widens


The number of Americans filing for unemployment benefits rose slightly last week and the four-week moving average of claims hit a 44-year low, suggesting a further tightening of the labor market that could encourage the Federal Reserve to raise interest rates next month.


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OPEC, non-OPEC extend oil output cut by nine months to fight glut


OPEC and non-members led by Russia decided on Thursday to extend cuts in oil output by nine months to March 2018 as they battle a global glut of crude after seeing prices halve and revenues drop sharply in the past three years.


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25/05/2017

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Fed ties rate hike to economic rebound, sees balance sheet cuts in 2017


Federal Reserve policymakers agreed they should hold off on raising interest rates until it was clear a recent U.S. economic slowdown was temporary, though most said a hike was coming soon, minutes from their last policy meeting showed on Wednesday.


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Exclusive: Facebook signs BuzzFeed, Vox, others for original video shows - sources


Facebook Inc (FB.O) has signed deals with millennial-focused news and entertainment creators Vox Media, BuzzFeed, ATTN, Group Nine Media and others to make shows for its upcoming video service, which will feature long and short-form content with ad breaks, according to several sources familiar with the situation.


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Moody's downgrades China, warns of fading financial strength as debt mounts


Moody's Investors Service downgraded China's credit ratings on Wednesday for the first time in nearly 30 years, saying it expects the financial strength of the economy will erode in coming years as growth slows and debt continues to rise.


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24/05/2017

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Trump seeks to slash $3.6 trillion of spending in austere budget


U.S. President Donald Trump asked lawmakers on Tuesday to cut $3.6 trillion in government spending over the next decade, taking aim at healthcare and food assistance programs for the poor in an austere budget that also boosts the military.


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Housing recovery intact despite drop in new home sales


New U.S. single-family home sales tumbled from near a 9-1/2-year high in April, but the housing recovery likely remains intact amid a tightening labor market.


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Uber inadvertently underpaid New York City drivers for over two years


Uber Technologies Inc [UBER.UL] said on Tuesday it underpaid its New York City drivers for the past two-and-a-half years, an error that could cost the ride-hailing company tens of millions of dollars.


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23/05/2017

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Ford names Hackett as CEO to tackle car rivals, Silicon Valley


Ford Motor Co (F.N) abruptly named James Hackett as chief executive on Monday, responding to investors' growing unease about the U.S. automaker's slumping stock price and its ability to counter threats from longtime rivals and Silicon Valley.


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