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Wall St falls as lower oil prices weigh on energy stocks

31 Aug

A trader works on the floor of the NYSEThe markets have been playing a guessing game on when the Federal Reserve would be able to raise rates after top Fed officials, including Chair Janet Yellen, turned hawkish on the back of slow but steady economic growth. Boston Fed president and voting member Eric Rosengren, in a panel discussion in China on Wednesday, said the Fed was nearing its employment and inflation rate goals, adding that rate hikes could shield the economy.

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EU demands Apple pay Ireland up to 13 billion euros in tax

30 Aug

An Apple logo is seen in the window of an authorised apple reseller store in GalwayBy Foo Yun Chee BRUSSELS (Reuters) – EU antitrust regulators ordered Apple on Tuesday to pay up to 13 billion euros ($14.5 billion) in taxes plus interest to the Irish government after ruling that a special scheme to route profits through Ireland was illegal state aid. The massive sum, 40 times bigger than the previous known demand by the European Commission to a company in such a case, could be reduced, the EU executive said in a statement, if other countries sought more tax themselves from the U.S. tech giant. Apple, which with Ireland said it will appeal the decision, paid tax rates on European profits on sales of its iPhone and other devices and services of between just 0.005 percent in 2014 and 1 percent in 2003, the Commission said.

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Solid U.S. consumer spending boosts prospect of Fed rate hike

29 Aug

Automobiles are shown for sale at a car dealership in Carlsbad CaliforniaU.S. consumer spending increased for a fourth straight month in July amid strong demand for automobiles, pointing to a pickup in economic growth that could pave the way for the Federal Reserve to raise interest rates this year. Monday’s report from the Commerce Department came several days after Fed Chair Janet Yellen said the case for raising rates had strengthened in recent months. The Commerce Department said that consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 0.3 percent last month after a 0.5 percent gain in June.

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Automobiles boost U.S. consumer spending; inflation still tame

29 Aug

An H&M store has sale signs in the window in New York CityU.S. consumer spending increased for a fourth straight month in July amid strong demand for automobiles, pointing to a pickup in economic growth that could pave the way for the Federal Reserve to raise interest rates this year. The Commerce Department said on Monday that consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 0.3 percent last month after a 0.5 percent gain in June. When adjusted for inflation, consumer spending also rose 0.3 percent in July after advancing 0.4 percent in June.

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Warned of a Crash, Start-Ups in Silicon Valley Narrow Their Focus

29 Aug

Start-ups were to face a great reckoning in 2016. The crash hasn’t happened, but companies are making some adjustments.

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Wall Street opens flat as investors take in Fed comments

29 Aug

(Reuters) – U.S. stocks were little changed at the open on Monday as investors tried to decipher comments from top Federal Reserve officials regarding raising interest rates.

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As Fed nears rate hikes, policymakers plan for 'brave new world'

28 Aug

Yellen testifies before the Senate Banking Committee at Capitol Hill in WashingtonBy Jason Lange and Ann Saphir JACKSON HOLE, Wyo. (Reuters) – Federal Reserve policymakers are signaling they could raise U.S. interest rates soon but they are already weighing new tools they may need to fight the next recession. A solid U.S. labor market “has strengthened” the case for the first rate increase since last December, Fed Chair Janet Yellen told a central banking conference in Jackson Hole, Wyoming.

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U.S. Proposes Immigration Rule Aimed at Entrepreneurs

27 Aug

The proposal, which doesn’t require congressional approval, would grant temporary entry for up to five years to people building start-ups in the U.S.

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Fed's Yellen says case for interest rate hike has strengthened

26 Aug

Federal Reserve Chair Janet Yellen attends a news conference after chairing the second day of a two-day meeting of the Federal Open Market Committee to set interest rates in WashingtonThe case for raising U.S. interest rates has strengthened in recent months because of improvements in the labor market and expectations for moderate economic growth, Federal Reserve Chair Janet Yellen said on Friday. The Fed has policy meetings scheduled in September, November and December. “In light of the continued solid performance of the labor market and our outlook for economic activity and inflation, I believe the case for an increase in the federal funds rate has strengthened in recent months,” Yellen said in prepared remarks.

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Private Equity Pursues Profits in Keeping the Elderly at Home

25 Aug

PACE, a Medicare program that helps keep older people in their own homes, is allowing for-profit companies in. Tech and venture capital have expressed interest.

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