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North Korea says did not hack Sony, wants joint probe with U.S.

20 Dec

File photo of a security guard standing at the entrance of United Artists theater during the premiere of the film "The Interview" in Los AngelesBy Jack Kim and Steve Holland SEOUL/WASHINGTON (Reuters) – North Korea said U.S. accusations that it was involved in a cyberattack on Sony Pictures were “groundless slander” and that it was wanted a joint investigation into the incident with the United States. An unnamed spokesman of the North’s foreign ministry said there would be “grave consequences” if Washington refused to agree to the joint probe and continued to accuse Pyongyang, the official KCNA news agency reported on Saturday. …

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The Surprising New Look for Tech Offices

19 Dec

For technology start-ups, “innovation doesn’t happen at your usual desk or cubicle,” as townhouses become headquarters.

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Wall Street little changed after two-day run

19 Dec

Man carries an umbrella in the rain as he passes the New York Stock ExchangeNEW YORK (Reuters) – U.S. stocks were little changed on Friday, after the Federal Reserve’s most recent policy statement sparked the best two-day run for the benchmark S&P 500 in three years.

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Crowd-Funding Gets Wacky

18 Dec

Welcome to Warped Kickstarter, where some pretty absurd ideas are getting rewarded with tens of thousands of dollars.

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U.S. jobless claims point to firmer labor market

18 Dec

Job seekers adjust their paperwork as they wait in line to attend a job fair in New YorkBy Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, suggesting the labor market continued to strengthen. Initial claims for state unemployment benefits dropped by 6,000 to a seasonally adjusted 289,000 for the week ended Dec. 13, the Labor Department said on Thursday. The report came a day after the Federal Reserve offered an upbeat assessment of the labor market and the broader economy, and signaled it could start raising interest rates next year. The U.S. …

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Fed likely to signal rate hike on track despite global woes

17 Dec

File photo of the United States Federal Reserve Board building in WashingtonBy Howard Schneider and Michael Flaherty WASHINGTON (Reuters) – A sturdy U.S. recovery is expected to trump global economic worries as the Federal Reserve concludes its last policy meeting of 2014 on Wednesday, with officials likely to signal they are still on track to raise interest rates next year. With oil prices in freefall, Japan in recession and the euro zone sputtering, the Fed for a second consecutive meeting will weigh the U.S. economy’s apparent strength against overseas risks that now include a potential currency crisis in oil exporter Russia. …

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U.S. consumer prices fall on gasoline, eyes on Fed

17 Dec

A woman pumps gas at a station in Falls ChurchWASHINGTON (Reuters) – U.S. consumer prices recorded their biggest drop in nearly six years in November as gasoline prices tumbled, but this probably will not change views the Federal Reserve will start raising interest rates in mid-2015.

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U.S. housing starts fall, but trend points to recovery

16 Dec

Carpenters work at a housing site of Mid-Atlantic Builders The Villages of Savannah in Brandywine MarylandBy Lucia Mutikani WASHINGTON (Reuters) – U.S. housing starts and permits fell in November, but remained at levels consistent with a gradually improving housing market. Groundbreaking declined 1.6 percent to a seasonally adjusted annual pace of 1.028 million units, the Commerce Department said on Tuesday. October’s starts were revised up to a pace of 1.045 million units. Economists polled by Reuters had forecast starts rising to a rate of 1.04 million units from October’s previously reported pace of 1.01 million units. Yields for U.S. …

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Energy, tech shares lead Wall Street higher at open

15 Dec

The United States Federal Reserve Board building is shown behind security barriers in WashingtonNEW YORK (Reuters) – U.S. stocks rose at the open on Monday, following the worst week for the benchmark S&P 500 index in more than two years, with investors focused on crude oil prices which earlier hit a fresh 5-1/2-year low.

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Fed considers time to end free money pledge

14 Dec

A man wears dollar sign rings in a jewellery shop in Manhattan in New York CityBy Philip Blenkinsop BRUSSELS (Reuters) – The U.S. Federal Reserve would give the clearest signal next week that its easy money stance is ending if, as some expect, it drops its two-year long pledge to keep interest rates close to zero for a “considerable time”. The Fed, which meets on Tuesday and Wednesday, first inserted that wording in its post-meeting statements in December 2012, promising then to maintain its highly accommodative monetary stance for a considerable time after its asset purchase program ends and the economic recovery strengthens. Both have occurred. The U.S. …

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