Monday, October 31, 2016

Asia Data Turns a Bit Brighter

Purchasing Managers’ Indexes from Nikkei and IHS Markit pointed to improvement in Japan, South Korea and Taiwan, as did equivalent official and private-sector gauges from China, which had been flat for several months.

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Startups Turn Delayed Flights Into Revenue

A league of startup companies is industrializing the process of claiming compensations from airlines, transforming delayed flights into a fast-growing stream of revenue.

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Drama Brews Over Off-Broadway Wages

With their contract set to expire Sunday, actors are lobbying for more money, but off-Broadway theaters and producers say their offer is a significant increase.

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NASA Advisory Group Raises Concerns About SpaceX Plans

The committee opposes a proposal by Elon Musk’s Space Exploration Technologies Corp. to fuel rockets while astronauts are already strapped into a capsule on top.

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Colonial Pipeline Shut Following Fire in Alabama

Colonial Pipeline Co. shut down a major gasoline and diesel artery that runs through Shelby County, Ala. after a fire injured several workers in the area.

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Netflix, Amazon Take Divergent Paths in India

The contrasting approaches in India highlight fundamental differences in how the streaming giants—Netflix and Amazon—are pursuing international growth as the U.S. market gradually matures.

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NextEra Agrees to Deals for Total Control of Oncor

NextEra Energy announced two transactions that would, when combined with a previously announced deal, give the company complete ownership of Oncor Electric Delivery.

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Inside the Affordable Care Act's Arizona Meltdown

Nearly every county in the state now has only one insurer selling plans through the health-care law’s exchange, and premiums are soaring.

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EU Kicks Off Corporate-Tax Overhaul

Many companies that operate in Europe could face big changes as the EU moves ahead with an effort to keep multinationals like Apple from taking advantage of discrepancies in tax codes across the 28-nation bloc.

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J.P. Morgan Withheld Payment From Tech Client, Lawsuit Alleges

J.P. Morgan Chase allegedly withheld a $12 million payment to Good Technology last year, worsening a cash shortage that forced the mobile-security company into a sale brokered by the bank, according to newly public claims in a continuing legal dispute.

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Occidental Petroleum Acquires Permian Basin Assets for $2 Billion

Occidental Petroleum said it acquired acreage and interests in enhanced oil recovery assets in the Permian Basin in transactions totaling roughly $2 billion, joining a series of deals in the prolific West Texas drilling field.

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Blackstone to Acquire Team Health for About $3.2 Billion

Team Health Holdings said Monday the company has reached a deal to sell itself to a group of investors led by private-equity firm Blackstone Group for about $3.2 billion.

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Anadarko Narrows Loss But Misses Quarterly Revenue, Sales Marks

Anadarko Petroleum narrowed its loss during the latest quarter but still sharply missed Wall Street expectations for earnings and revenue.

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Southwest Flight Attendants Approve New Labor Contract

A majority of Southwest Airlines Co.’s 14,500 flight attendants who cast ballots approved a new labor agreement on Monday, according to their union and the carrier.

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Germany Cools to Chinese Investors

Germany’s openness to Chinese investment is waning quickly, potentially chilling diplomatic relations between the giant trading partners. Beijing on Monday summoned a German embassy official to discuss Berlin’s decision to halt the takeover of a German chip maker by a Chinese fund on security grounds.

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Viacom Taps Bob Bakish as Acting CEO

Viacom has named Bob Bakish, a 19-year company veteran who has spent the past decade leading its international channels, as its acting president and chief executive following the departure of interim CEO Tom Dooley in November.

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BlackBerry Earns 'Tier One' Supplier Status With Ford

BlackBerry Ltd. is now a Tier One supplier for Ford Motor Co., a designation that cuts out the use of a middleman in supplying products or services to the auto maker.

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To Lure Plus-Size Shoppers, One Retailer Will Scrap Plus-Size Department

Meijer Inc. will integrate its plus-size department into the women’s department, placing so-called straight sizes and extended sizes on the same racks.

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Palantir Prevails in Suit Over Army Contracting

Data-mining software firm Palantir Technologies prevailed in a lawsuit against the U.S. Army that means the company could be eligible for a $200 million contract.

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DraftKings, FanDuel Deal Is Coming Together

DraftKings and rival fantasy sports company FanDuel are hammering out a merger deal, having discussed the possibility for months as their legal and regulatory problems grow.

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Executive Sees Grim Year for Big Shipping Firms

None of the world’s biggest container shipping companies is likely to post a profit this year, a top executive of French shipping giant CMA CGM said in an interview with The Wall Street Journal.

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Ford Faces Midnight Deadline in Canadian Labor Talks

Ford faces a midnight contract deadline with union workers in Canada, where it assembles nearly 10% of its North American output.

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Cardinal Health Warns Over Drug Pricing

Cardinal Health became the latest drug distributor to warn that the slowing pace of branded drug-price increases and lower generic drug pricing would hurt results.

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Miners Ask: Dig More or Hold Back?

Global mining companies face an urgent dilemma in the grip of a prolonged commodities downturn: whether the cycle has turned enough to bet heavily in new projects ahead of a solid recovery in prices.

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GE's CEO Immelt Revamps Strategy With Oil Spinoff

Jeff Immelt, the chairman and chief executive of General Electric Co., said the purchase of Baker Hughes will help the industrial giant bulk up and weather a prolonged slump in the energy industry.

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CEO to Step Down From Standard Chartered Firm at Center of Probe

Greg Karpinski is stepping down as chief executive of Maxpower Group, a power company in Indonesia controlled by Standard Chartered that is at the heart of a U.S. investigation into alleged bribery.

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A Year in, P&G's CEO Holds Fast to Company's Historic Strengths

At a time when many of the world’s most entrenched corporate giants are re-creating themselves, Procter & Gamble’s David Taylor eschews talk of reinvention. He aims to keep P&G on top by playing to its historic strengths.

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GIF Site Giphy Is Valued at $600 Million

The exploding popularity of animated GIFs online is attracting serious interest from venture investors.

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Telecom Firm CenturyLink to Buy Level 3 for $25 Billion

CenturyLink agreed to buy Level 3 Communications for roughly $25 billion, giving the telecom companies more heft to weather a competitive landscape.

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Japan's Largest Shipping Firms to Merge Container Operations

Japan’s three biggest shipping companies said they would merge their container shipping operations to create the world’s sixth-largest player in an effort to cope with a global decline in the business.

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U.S. Consumer Spending Rose 0.5% in September

Consumer spending rose in September, a sign of resilience among households amid steady job creation.

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GE, Baker Hughes Deal to Create Energy Powerhouse

General Electric reached a deal to combine its oil-and-gas business with Baker Hughes, creating a publicly traded energy powerhouse that would give GE a cost-effective way to play any recovery in the industry.

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Inflation, Long Quiescent, Begins to Stir

The core rate of inflation remains below the Fed’s 2% target, but economic circumstances suggest it is headed upward, which could mean that securities priced for low inflation will be repriced and that savers dependent on interest can look forward to better returns.

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Honda Net Profit Jumps 39%

Lower revenue was offset by cost-cutting efforts and lower expenses related to recalls for defective air bags.

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WPP Revenue Growth Beats Expectations

WPP, the world’s largest marketing company by revenue, reported growth in third quarter income that was above expectations, but said its business in the U.K. slowed after “perhaps the first signs of Brexit anxiety.”

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Sunday, October 30, 2016

Unusual Failure in American Airlines' Jet Engine Prompts Investigation

A disc in the Boeing 767’s engine violently broke apart, touching off a wide-ranging probe into certain General Electric Co. engines.

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Microsoft CEO Envisions a Whole New (Augmented) Reality

Satya Nadella talks about how augmented reality and artificial intelligence will transform life.

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Facebook: Media Company or Technology Platform?

The company’s Chris Cox and Sheryl Sandberg reflect on its evolving role.

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GE Nears Deal to Combine Oil-and-Gas Business With Baker Hughes

The roughly $30 billion deal, expected to be announced Monday, would create an energy powerhouse, giving GE a cost-effective way to play any recovery in the industry.

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Boost in Online Pirated CD Sales Deal Another Blow to Music Industry

In the latest challenge for the battered music industry, pirates are flooding Amazon.com and other online retailers with counterfeit CDs that often cost nearly as much as the official versions and increasingly are difficult to distinguish from the real goods.

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U.K. Startup's Failure Sparks Cross-Atlantic Spat

The fight over what went wrong at U.K. smartphone-payment startup Powa Technologies is turning public, providing a window into the sometimes-fraught relationship between entrepreneurs and investors when things sour.

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Fairfax and Sagard to Make Joint Bid for Performance Sports Group

Fairfax Financial Holdings Ltd. and Sagard Capital Partners have agreed to make a joint bid to acquire Performance Sports Group Ltd. for more than $550 million as the sports equipment maker considers bankruptcy protection, one person familiar with the plans said.

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Apple and Microsoft Are Right to Boot Up PC Efforts

Rumors of the death of personal computers have been greatly exaggerated. They still matter, to both Apple and Microsoft.

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Drugmakers Turn Cheap Generics Into Expensive Pills

Treximet, a migraine drug, is just one of many treatments whose active ingredients are generic drugs that can be purchased separately at a fraction of the cost.

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America Isn't Ready for a Cyberattack

Columnist Christopher Mims says the recent cyberattack that rendered more than 1,200 websites unreachable was a warning. Experts say a similar, or larger, attack could be launched tomorrow, and we’d be powerless to prevent it.

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'Inferno' Gets Burned at Box Office; 'Madea Halloween' Stays on Top

‘Inferno,’ starring Tom Hanks, flamed out at the box office this weekend, beat out by ‘Tyler Perry’s Boo! A Madea Halloween,’ which surprised Hollywood by holding the No. 1 spot, taking in $16.7 million in the U.S. and Canada.

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Global Economy Week Ahead: Fed, BOJ and BOE Meetings; U.S. Jobs Report

Federal Reserve, Bank of Japan and Bank of England officials could signal how monetary policy might change in coming months. And data out of China, the U.S. and the eurozone may raise hopes for, or further sour, the outlook for the global economy.

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China's Crown Probe Seen as Warning Shot to Foreign Firms

China’s surprise detention of 18 employees from Australian casino operator Crown Resorts is reverberating from Macau to Las Vegas and beyond, with gambling concerns—and some business consultants in general—advising foreign executives to steer clear of mainland China for now.

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While Services Sector Booms, Productivity Gains Remain Elusive

Economists seeking to explain slowing productivity growth have pointed to a downturn in global innovation, but that debate overlooks how hard it is to innovate in services, which are taking a growing share of consumers’ budgets as goods prices fall.

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Oil Drillers Can't Get Enough of West Texas Assets

Investors have fallen in love with properties in the energy-rich Permian Basin, and that is making some West Texas oil men nervous as land acquisition prices skyrocket despite cheap crude.

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Saturday, October 29, 2016

Tesla CEO Aims to Make Solar Panels as Appealing as Electric Cars

Elon Musk said his goal is to make solar roofs that look better than an ordinary roof, generate power and last longer, all at an installed cost that is less than a normal roof plus the cost of electricity.

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Meet America's Least Likely Media Mogul

AT&T boss Randall Stephenson’s deal for Time Warner will put him in charge of businesses in which he has little experience. But he’s familiar with stepping out of his comfort zone.

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Trucking Firms Pare Down Their Fleets

Big trucking companies have spent the second half of the year shrinking their fleets in hopes of changing an imbalance between the supply of rigs on the road and tepid shipping demand.

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Friday, October 28, 2016

Saudi Aramco Says Employee Took Bribe From Embraer

The Saudi Arabian Oil Co. has confirmed that it has evidence of corruption involving one its employees and Brazilian aircraft maker Embraer SA involving the purchase of three aircraft from the company.

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T. Rowe Price Pushes Oracle to Boost NetSuite Bid

T. Rowe Price, which has stood in the way of Oracle’s $9.3 billion acquisition of NetSuite, said it would tender its shares in favor of the deal if Oracle sweetens the offer by $2 billion.

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Amazon's Shipping Costs Likely to Surge With Holiday Orders

Amazon.com Inc.’s shipping costs are likely to spiral higher in the fourth quarter because of the combination of more expensive fast shipping and greater holiday-related volumes.

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Backlash Against Drug Prices Hits Manufacturers and Middlemen

The backlash against the high and rising cost of medicines may be cracking the foundation of the convoluted U.S. drug-pricing system, hitting the bottom lines of manufacturers and industry middlemen that have benefited from increases.

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Startup Comma.ai Ditches Semiautonomous Car Kit After Regulatory Scrutiny

A high-profile Silicon Valley startup nixed its plan to market an aftermarket kit that could be installed in some cars to take over driving, after U.S. regulators began asking questions about the product.

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Warning of a Price War Among Drug Wholesalers Sends Shares Sliding

Shares of drug wholesalers were slammed amid signs a price war has broken out in the sector, following a dour earnings report from McKesson.

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Baker Hughes CEO Tells Employees to Stay Focused Amid GE Deal Talks

Baker Hughes CEO Martin Craighead asked employees to remain focused in light of reports of a potential merger with General Electric.

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Brazil's Vale Cuts Waste Storage Expenditures

Vale SA has slashed spending on waste storage even after a catastrophic dam failure at its Samarco joint venture last November killed 19 people and triggered tens of billions of dollars in lawsuits.

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U.K. Court Rules Uber Drivers Entitled to Workers' Rights

Drivers working for Uber Technologies Inc. in the U.K. are entitled to workers’ rights including paid holidays and the minimum wage, according to a ruling by The Central London Employment Tribunal.

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U.S. Consumer Confidence Slides in October

U.S. consumer confidence slipped in October as concerns about the economy grew.

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U.S. Employment Costs Rose 0.6% in Third Quarter

U.S. labor costs grew at a moderate pace over the summer, extending the recent trend of steady but unspectacular gains for worker pay and benefits as the job market tightens.

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U.S. Economy Grew 2.9% in Third Quarter

U.S. economic growth accelerated last quarter, easing fears of a near-term slowdown but doing little to change the trajectory of a long but weak expansion.

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Exxon Mobil Profit, Revenue Slide Again

Exxon Mobil posted a 38% decline in quarterly profit as revenue slid more than expected amid the prolonged swoon in oil prices.

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Australian Cattle Barons Drop Bid for Kidman Ranch Empire

The consortium's decision to withdraw its offer paves the way for Australian mining billionaire Gina Rinehart and a Chinese conglomerate to emerge successful in their joint bid for the country’s biggest cattle empire.

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Sanofi, Novo Nordisk Fortunes Diverge Amid Insulin Price Slump

Sanofi and Novo Nordisk, two of Europe’s health-care companies most exposed to the falling prices for insulin products in the all-important U.S. market, gave dramatically diverging outlooks in the third quarter, sending their stock prices in opposite directions.

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Total's Profit Jumps as Cost-Cutting Bears Fruit

French oil giant Total said third-quarter net profit nearly doubled from the same period a year earlier, as deep cost cuts and rising output helped it to ride a modest oil price rally driven by OPEC.

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Xerox Settles Suit With Major Shareholder

Xerox reached a settlement with shareholder Darwin Deason granting him special shares in the copier maker’s two businesses after its split, clearing the way for the company to finish its separation by year end.

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Mitsubishi Earnings Reverse

The Japanese car company reported a net loss for the fiscal first half, as rising costs from a fuel-economy scandal weighed on earnings.

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Hyundai Merchant Marine Makes Bid for Hanjin's U.S. Route Assets

Hyundai Merchant Marine hopes the purchase of Hanjin’s assets will enhance its competitiveness on major routes.

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EU Issues Data-Protection Warning to WhatsApp, Yahoo

European privacy regulators fired a warning shot to Facebook’s WhatsApp and Yahoo, saying they sent letters to the companies expressing concerns about possible violations of the bloc’s data-protection rules.

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Amazon Delivers Prime Program to China

The U.S. e-commerce behemoth launched its Prime membership program in mainland China on Friday, in an effort to capitalize on Chinese consumers’ desire for overseas products.

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AB InBev Cuts Revenue Forecast

Anheuser-Busch InBev, in the midst of digesting its $100 billion-plus acquisition of SABMiller, cut its revenue growth forecast for the year after the world’s largest brewer reported weaker-than-expected third-quarter results.

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British Airways Parent IAG Cuts Earnings Outlook

British Airways parent International Consolidated Airlines Group issued a profit warning, cutting its earnings outlook after third-quarter operating profit fell 3.6%, weighed down by the sharp drop in sterling.

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Novo Nordisk Shares Dive on Lower Forecast

Shares in Novo Nordisk plummeted as the Danish pharmaceutical company slashed its long-term growth target, despite reporting a forecast-beating 17% rise in third-quarter net profit.

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Sanofi Lifts Profit Outlook

French drugmaker Sanofi lifted its profit outlook for the year after posting better-than-expected third-quarter earnings, and said it planned to complete a $3.82 billion share buyback by the end of 2017.

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Baidu Offers Grim Forecast After First Loss

After posting its first-ever quarterly revenue decline, Chinese internet firm Baidu said it expected more losses to come as the search engine continues to reel from a medical scandal and heightened regulatory environment that has hammered its advertising business.

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Thursday, October 27, 2016

Senators Call for U.S. Action on Chinese Aluminum Subsidies

Eight U.S. senators have asked the Obama administration to take action against China over what they say are unfair subsidies to China’s aluminum industry.

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Merger Deals Set Monthly Record, Even as Election Looms

Less than two weeks before the election, U.S. companies have unleashed a wave of deals, culminating in Qualcomm’s pact Thursday to buy NXP Semiconductors for $39 billion, making this month the busiest ever for M&A.

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Chip Makers Cut Deals as Cars Get Smarter

Qualcomm Inc. and other chip makers are cutting deals furiously as cars turn into self-driving mobile computers. But the jury is out on whether the merger wave will help cars get smarter faster.

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General Electric in Talks to Buy Baker Hughes

GE is pursuing an acquisition of Baker Hughes, a transaction that would be the biggest in the history of the industrial giant and extend its bet on the battered oil industry.

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Booz Allen Hires Former FBI Director to Conduct Security Review

Booz Allen Hamilton Holding Corp. said Thursday it had launched an external review of its security and staffing processes in the wake of its second major personnel scandal in three years.

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Qualcomm's NXP Ride Worth a Big Toll

The deal would give Qualcomm exposure to the automotive and other growth sectors, making it worth the cost of the chip maker’s overseas cash.

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Amazon Posts Smaller-Than-Expected Increase in Profit

Amazon posted a smaller-than-expected increase in third-quarter profit as shipping costs surged and the e-commerce company pumped revenue gains back into product development and operations.

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Google Strength Drives Alphabet Profit Higher

Google parent Alphabet reported rising third-quarter profit, extending a streak of strength as users spend more time on smartphones and advertisers spend more to reach them there.

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LinkedIn Reports Higher Revenue, More Members

Professional online network LinkedIn Corp. posted solid revenue gains as it lured its members to spend more time on the service, in what are likely its waning days as an independent company.

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HealthSouth CEO to Step Down at Year's End

HealthSouth Corp. unveiled transition plans for its leadership Thursday, saying CEO Jay Grinney would step down at the end of the year and be replaced by current Operating Chief Mark Tarr.

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Uber's Lofty Ambition: Flying Cars

Uber Technologies Inc. has barely tackled self-driving cars for the road, but it is already dreaming about the skies.

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CenturyLink in Talks to Merge With Level 3 Communications

CenturyLink is in advanced talks to merge with Level 3 Communications, a deal that would give the business-telecommunications companies greater heft in a brutally competitive industry.

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Apple Unveils New Macs, TV App

Apple introduced new versions of its Macintosh personal computers Thursday, betting that smaller, thinner models and a touch screen on the keyboard will reverse declining sales.

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FCC Approves New Customer Privacy Rules for Broadband Providers

Federal regulators adopted a scaled-back version of a privacy regulation that would require broadband internet providers to get consumer approval before marketing sensitive information.

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America's Biggest Filer of Patent Suits Wants You to Know It Invented Shipping Notification

A Florida company demands fees mostly from small businesses and sets them low enough to discourage court challenges. Small businesses are frequent targets of patent lawsuits since new legal tools to resist suits became available to companies large enough to afford them.

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Maritime Nations Agree to Cut Pollution From Ships in 2020

The more than 170 member states of the International Maritime Organization, the global shipping regulator, agreed to sharp—and potentially expensive—limits on sulfur emissions, which are blamed for health problems.

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Grocers Feel Chill From Millennials

Grocers are struggling to lure e-commerce-loving millennials into their aisles amid what experts say is a permanent shift in shopping patterns among consumers.

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U.S. Pending Home Sales Rebounded in September

A gauge of upcoming home sales moved higher in September, a sign that last month’s rebound in homebuying activity might be sustained in the coming months.

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Target to Boost Spanish-Language Ads in Bid to Drive Holiday Sales

Target is increasing its spending on Spanish-language television ads this holiday season and taking Hispanics into account in its general marketing strategy, rather than making a separate plan as it has done in the past.

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Pollsters Scramble As Fewer People Take Their Phone Calls

Increased cost and time needed for traditional telephone surveys spurs the rise of unproven digital alternatives; ‘a lot of experimentation is going on’

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R&D Is Rare Bright Spot in Business Investment

Businesses ramped up spending on research and development in the second quarter, a bright spot in what has otherwise been lackluster investment by companies.

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UPS's Revenue Tops Views

United Parcel Service reported that its revenue rose above expectations in its latest quarter as domestic deliveries grew.

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U.S. Durable Goods Orders Declined in September

Demand for long-lasting manufactured goods slipped slightly in September, a sign the U.S. factory sector is still on shaky ground.

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U.S. Jobless Claims Fall Slightly

The number of Americans seeking first-time jobless benefits fell last week, suggesting the labor market continues to expand.

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For AT&T Deal, a Tough FCC Review Looms

AT&T’s acquisition of Time Warner will likely face a full-scale review from the Federal Communications Commission, which may be tougher than the antitrust review already expected by the Justice Department.

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Qualcomm to Buy NXP for $39 Billion in Biggest Chip Deal

Qualcomm agreed to buy NXP Semiconductors for $39 billion, adding the top supplier of automotive chips, a fast-growing market, to the San Diego company best known for designing smartphone chips.

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Twitter to Cut 9% of Workforce as Revenue Growth Slows

Twitter posted another quarter of slowing growth Thursday and said it would slash 9% of its global workforce, in its first report since recent takeover interest from potential suitors including Salesforce dissipated.

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Samsung Talks Up Galaxy S8 as Note Fiasco Burns Profits

Two weeks after scrapping its Galaxy Note 7, Samsung revealed a big hit to its bottom line, pledged a widening investigation into the phone’s problems and elevated third-generation heir apparent Lee Jae-yong to his first board seat.

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Ford's Profit Falls on Recall Costs

Ford’s net income fell 56% in the third quarter as hefty safety-recall expenses and softer sales in the U.S. dinged profits in North America, offsetting improving results in China and Europe.

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Aetna Revenue and Profit Rises

Aetna Inc. said revenue and profit rose in its latest quarter as some expenses were reduced but said it is still dealing with pressure in its Affordable Care Act business.

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Mylan Executives Unlikely to Lose Pay Over EpiPen Issue

Executives of EpiPen maker Mylan are unlikely to lose pay over the company’s recent $465 million settlement of allegations that it overcharged Medicaid for the lifesaving drug.

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Big Oil Companies Reap Windfall From Ethanol Rules

Environmental regulations designed to boost the amount of ethanol blended into the U.S. gasoline supply have inadvertently become a multibillion-dollar windfall for some of the world’s biggest oil companies.

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U.K. GDP Beats Expectations Despite Brexit Vote

The U.K. economy slowed only slightly in the three months following voters’ decision to exit the European Union, according to an official estimate that confirms the U.K. weathered the surprise referendum result better than many expected.

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Tata Companies Respond to Ousted Chairman's Write-Down Claims

Some Tata Group companies said the valuation of their operations were accurate and audited, in response to a letter from the conglomerate’s former chairman suggesting they could face nearly $18 billion in write-downs.

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Germany's HSH Nordbank to Take Nine Hanjin Ships

Germany’s HSH Nordbank is in the process of taking possession of nine container ships operated by South Korea’s debt-ridden Hanjin Shipping and plans to lease them to Maersk Line and MSC.

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Volkswagen Lifts Sales Outlook as Profit Rises

Volkswagen reported a 17% increase in operating profit before special items in the three months to the end of September, driven by sharply higher profit at its Skoda and SEAT car brands and its truck business, and raised its sales outlook for the year on the back of strong demand in China.

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Statoil To Reduce Capital Spending After Reporting Wider Loss

Norway’s Statoil ASA fell deeper into the red in the third quarter, pledging to reduce capital spending by another $1 billion to cope with the lingering impact of low crude prices.

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Telefónica Reduces Dividend in Debt Reduction Drive

Telefónica is trimming its dividend in a bid to reduce debt and ward off a potential ratings downgrade that would push the Spanish telecommunications giants’ creditworthiness closer to non-investment grade.

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Nokia Tumbles to Loss, Vows to Broaden Product Range

Nokia reported a quarterly net loss for the third time in a row amid sluggish mobile-network sales, but said it would continue to broaden its product portfolio to offset a decline in the mobile infrastructure market. The stock rose sharply in early trading.

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After 3-D Printer Jam, GE to Buy Similar Model

A day after announcing that a deal to acquire SLM Solutions had fallen through, the U.S. industrial giant has now offered $599 million for another German 3-D printing company, Concept Laser.

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Wednesday, October 26, 2016

Volvo Cars Upgrades Full-Year Guidance

Swedish car maker Volvo Car Corp. on Thursday upgraded its full-year profit guidance, buoyed by strong third-quarter sales of its SUVs in China and the U.S., and said that it expects record sales in 2016.

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China Logistics Company Raises $1.4 Billion in U.S. IPO

The offering for ZTO Express, which delivers parcels for e-commerce giants like Alibaba and JD.com, is the largest IPO in the U.S. this year.

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Galaxy Note 7 Recall Sinks Samsung Profit

Samsung Electronics said its net profit fell 16.8% to $4 billion in the third quarter, hurt by the recall and eventual discontinuance of its premium Galaxy Note 7 smartphone.

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Detroit Increases Truck Capacity; Signs of Market Peak Appear

GM, Ford and Fiat Chrysler are pledging to expand U.S. capacity to make pickups and SUVs as passenger car sales slump, exacerbating a budding price war for the industry’s best-selling vehicles.

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Megyn Kelly Seeks Salary North of $20 Million in Talks With Fox News

Fox News star Megyn Kelly has changed agents and publicity teams since last year. Now the question is if she will change TV networks. The host of “The Kelly File” is in active talks over her contract, seeking an average annual salary north of $20 million.

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Globalization Is Here to Stay, Says Panama Canal CEO

The Panama Canal Authority’s chief executive is concerned about anti-trade rhetoric taking center stage in the U.S. election campaign, but believes American consumers will step up their shopping after the result and boost shipping cargo volumes across the isthmus by a double-digit percentage.

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Verizon to Buy Technology of Web-Video Startup Vessel

Verizon Communications Inc. will buy the technology of web-video startup Vessel and will hire most of Vessel’s employees.

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Gazprom, EU Agree to Settle Antitrust Case

Russia’s PAO Gazprom and the European Union’s competition watchdog announced they will attempt to settle a longstanding antitrust case.

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Pair of Deals Breaks Pause in U.S. Freight Consolidation

Pilot Freight Services said it had sold a controlling stake to two investment groups and TTS LLC and Sunteck Transport Group announced they will combine, ending a hiatus in deals.

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Texas Instruments Reports Higher Profit, Boosts Dividend

Texas Instruments said profit shot up 21% in the latest quarter as continued strong demand in the automotive and industrial sectors helped the chip maker report results just above its forecast.

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Tesla Posts Second Profitable Quarter Ever

Tesla Motors Inc. posted the second quarterly profit in its history as a public company, as the auto maker had its best sales period on record, helped by the new Model X sport-utility vehicle.

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Apple Delays AirPod Shipments

Apple is delaying the shipment of its AirPod wireless headphones, saying it needs more time to deliver the product to consumers. The $159 headphones had been expected to ship by the end of October.

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Groupon to Buy LivingSocial, Reports Another Loss

Groupon agreed to buy fellow daily-deals provider LivingSocial, uniting two top names in a sector that has experienced some turmoil.

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Bitter Presidential Race Breeds Workplace Tensions

The divisiveness of this year’s presidential campaign has seeped into the American workplace, raising tensions among co-workers and forcing bosses to mediate political disputes.

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Corporate IT Expects 'Serverless' Computing to Trigger Big Changes

Corporate IT executives see promise in an emerging technology in which the physical and virtual servers that are traditionally used to run applications becomes invisible to the developers building the apps.

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Airbus, Boeing Follow Own Paths to Further Growth

The world’s two largest plane makers laid out divergent goals as Boeing chases fresh sales while Airbus opts to go full throttle to produce more jets.

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Clinton's Free-College Plan Draws Scrutiny

Some policy experts say Hillary Clinton’s free-state-college plan would deliver hundreds of billions of additional dollars to schools without a clear strategy to ensure they spend it wisely and keep costs in check.

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AT&T-Time Warner Reaction Shows Presidency's Growing Reach

As reaction to the AT&T-Time Warner deal shows, American companies should get used to a more pervasive federal presence in their lives, regardless of who is elected president, writes Grep Ip.

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GE Drops Bid to Acquire Germany's SLM Solutions Group

General Electric Co. said Wednesday its €672 million bid for 3-D printing company SLM Solutions Group AG has failed after an activist investor amassed enough shares to foil the deal.

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Microsoft Unveils PC Geared for Media Creation

Microsoft Corp. is expanding its hardware portfolio to challenge Apple’s iMac with a new 28-inch touch-screen personal computer called Surface Studio.

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Apple Shares Slide on Tepid Outlook

Apple shares fell Wednesday as the company’s outlook for the holiday quarter didn’t satisfy investors’s heightened expectations.

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Slowdown in State, Local Investment Dents U.S. Economy

A sharp pullback in spending by cities and states on infrastructure—from highways to sewage systems to police stations—is hurting economic growth.

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Japan Battery Maker Hopes Charge Into Future Won't Fall Flat

One of Japan’s biggest makers of power-industry gear spent nearly two decades researching the next great thing in energy storage. Now its storage battery is ready, but the company may have bet on the wrong technology.

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Mega Contracts With Colleges Start to Pinch Under Armour

Under Armour and its rivals have pledged more than $1 billion to secure outfitting deals with top college programs. Now those megadeals are starting to pinch profits at the sportswear maker.

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U.S. New Home Sales Up in September After August Dip

Sales of newly built homes rose in September after an August tumble, a sign modest momentum continues in the housing market.

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U.S. Probes Aluminum Firms Over Chinese Imports

Federal investigators have launched a probe into whether U.S. companies linked to a Chinese billionaire illegally avoided punitive import tariffs on Chinese aluminum.

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Review: Amazon's Alexa Makes Fire Tablets More Useful

Amazon.com’s Alexa is stepping up to challenge Apple’s Siri on mobile devices, with Amazon is rolling out an update for all of its most recent Fire tablets that feature the company’s voice assistant built into the operating system.

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Boeing Raises Guidance on Tax Benefit

Boeing said its profit climbed, boosted by a tax benefit, and the aircraft maker edged up its forecast for revenue this year as deliveries rose in the latest quarter.

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Coke Profit and Revenue Fall

Coca-Cola said profit and revenue fell less than expected in the latest quarter as developed markets buoyed the top line despite softness abroad.

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Heineken Chooses Van Boxmeer to Take On AB InBev Goliath

Heineken will seek a rare fourth term for CEO Jean-François van Boxmeer, credited with expanding the brewer’s presence in fast-growing markets in Latin America and Asia, as the company faces off with the giant AB InBev.

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Fed's Task Next Week: Signal December Rate Rise

Federal Reserve officials, wary of raising short-term interest rates amid the uncertainty surrounding the U.S. presidential election, are likely to stand pat at their November policy meeting and remain focused on lifting them in December.

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Comcast Reports Strong Earnings

Comcast reported better-than-expected financial results and added video customers in the third quarter, as its NBCUniversal business was powered by the Rio Olympics.

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Hilton Cuts 2016 Forecast, Says Spin Offs On Track for Year's End

Hilton Worldwide Holdings, in the process of turning itself into three separate entities, cut its profit forecast for the year as a key indicator of pricing power grew less than expected in the latest period.

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Megamergers Face Delays From Heightened EU Scrutiny

An industrywide review by European Union antitrust authorities is slowing down approval for some of the megamergers that have promised to reshape the global agrochemicals business.

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Oil Firms Shift Exploration Tactics, Curb Spending

Oil and gas companies are cutting their exploration budgets and shifting away from expensive, high-risk exploration. World-wide, oil-exploration spending last year was the lowest since 2007.

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Toyota Recalls 5.8 Million Vehicles With Faulty Takata Air Bags

Toyota is recalling vehicles around the world equipped with air bags that lack a drying agent, making them prone to exploding.

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Nintendo Earnings Rise on Sale of Stake in Seattle Mariners

The company said the smash hit videogame “Pokémon Go” helped to lift its bottom line during the first half of the fiscal year.

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Hyundai Profit Falls Again; Sales Target in Doubt

Hyundai Motor on Wednesday posted its 11th straight year-over-year decline in quarterly profit and cast doubt on this year’s sales target amid weakening demand in its largest markets.

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Airbus Profit Falls Amid Battle to Boost Production

Airbus Group’s most closely watched earnings measure fell 21% in the third quarter and more cash went out the door, underscoring the financial difficulties the European plane maker faces as it struggles to boost production of its jetliners.

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The Curious Case of Telefónica's Resilient Dividend

Telefónica is scrambling to slash billions of dollars in debt to ward off a potential downgrade that would knock the Spanish telecommunications giant’s rating closer to non-investment grade.

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Ericsson Names New CEO to Steer Turnaround

Ericsson appointed Börje Ekholm as its new chief executive, as the struggling Swedish telecom-equipment provider looks to turn around its business amid waning demand and stiff global competition.

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Tuesday, October 25, 2016

Money-Transfer Firm TransferWise Expands to Businesses

Money-transfer firm TransferWise Inc. said it plans to launch a business-payments service in the U.S. this week, the latest financial-technology startup to shift focus to businesses from consumers.

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If Monsanto Loses Its Name, What Will Its Haters Have Left to Hate?

Bayer’s $57 billion offer for Monsanto—aka “Monsatan”—means GMO protesters must rethink familiar old slogans and insults, and compose new songs for a company that has long been a target for activists.

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Activate's Michael Wolf Predicts What's Next for Tech and Media in 2017

Technology strategist Michael Wolf predicts a fast-changing landscape that will get harder for advertising-supported content companies while enriching digital gatekeepers such as Google, Facebook, Apple, Amazon and Microsoft.

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Mercedes to Enter Light-Pickup Truck Market By End of 2017

Daimler AG’s chief executive said the German auto maker will be participating in the global light-pickup truck market by the end of 2017, with the company’s Mercedes-Benz unit becoming the latest premium brand to try expanding into a segment that traditionally appealed to blue-collar buyers.

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Wal-Mart de Mexico's Profit, Sales Jump

Retailer Wal-Mart de Mexico SAB reported a rise in sales and profits in the third quarter as Mexicans continued to consume at a solid pace thanks to credit and employment growth amid subdued inflation.

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Acquisitions Seen in Self-Driving Market

The largest companies with the aim of creating self-driving vehicles will probably acquire smaller ones rather than develop the technology in-house, said Niklas Zennstrom, founder and chief executive of venture firm Atomico Ventures, at the WSJDLive 2016 global technology conference.

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HBO Chief 'Agnostic' on Where Content Goes Following Merger

HBO CEO Richard Plepler said he remains “agnostic” about where the content of one of Time Warner’s crown jewels appears, following the media company’s agreed-upon sale to AT&T for $85.4 billion.

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AT&T CEO Says Time Warner Deal Not About Raising Prices

AT&T Inc. will launch a $35-a-month “mobile-centric” video service next month, Chief Executive Randall Stephenson said Tuesday, pointing to it as an example of how prices won’t rise as a result of the carrier’s $85.4 billion deal to buy Time Warner Inc.

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Facebook Leaders Call it a Tech Company, Not Media Company

Facebook Inc. is resisting the label of media company, but is getting even more heavily involved in content.

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GM Brings IBM Watson Into its Vehicles

General Motors Co. is enlisting digital smarts from International Business Machines Corp.’s Watson in an effort to leapfrog other tech companies inside the car.

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Chipotle Provides Optimist Outlook Though Profit Plunges 95%

Chipotle Mexican Grill reported profit tumbled 95% in the latest quarter amid concerns that pricy promotions to get customers back after illness outbreaks aren’t working.

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Apple Profit and Revenue Slide as it Copes With Dwindling iPhone Sales

Apple posted its third consecutive decline in quarterly revenue and profit Tuesday, as the company searches for a way to offset slowing sales of its flagship iPhone.

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United Technologies Reports Strong Earnings, Sales Growth

United Technologies Corp. reported strong earnings and sales growth, dodging pressure that has hurt rival industrial firms, even as it struggles with the rollout of its new jet engine.

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VW Buyback Deal on Diesel-Emissions Scandal Approved

Volkswagen received final approval of a $14.7 billion deal reached with consumers and government agencies that could get nearly half a million dirty diesel vehicles off U.S. roads.

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Apple Earnings: What to Watch

Apple is expected to report results for its September quarter—and provide a look into iPhone 7 sales—after the market closes on Tuesday. Here’s what you need to know.

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BlackBerry Unveils Last Phone in Pipeline

BlackBerry unveiled a new Android-powered phone, marking the end of an era for the once-dominant smartphone maker as it cedes handset development to third-party manufacturers to focus on software.

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Draghi Defends ECB's Easy-Money Policies

European Central Bank President Mario Draghi launched a strong defense of the ECB’s easy-money policies, stressing that the central bank is committed to keeping interest rates low until its hit its inflation target.

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Procter & Gamble Profit Rises

Procter & Gamble posted an unexpected rise in profit in the latest quarter as revenue slid less than anticipated amid organic sales growth.

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Security Experts Question Webcam Maker's Response to Cyberattack

Security experts are questioning efforts by a Chinese electronics company to fix problems with webcams hijacked in a major attack on U.S. internet infrastructure, highlighting the complexity of the security threat posed by internet-connected devices.

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At 'Conscious Capitalism' Gathering, CEOs Say Business Isn't Bad

At a time when big business and trade are getting a bad rap, 220 chief executives gathered at a Texas resort last week to exchange ideas and rev each other up at the 10th annual Conscious Capitalism CEO summit.

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Yum CEO Talks Fast Food in the Age of Amazon

Yum Brands is at a pivotal moment as it faces what Chief Executive Greg Creed calls a “once in a lifetime opportunity” to rethink the company’s business model.

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U.S. Consumer Confidence Steps Back in October

Americans took a dimmer view about the economy this month—the Conference Board’s consumer confidence index dropped to 98.6 in October from 103.5 in September—in the latest sign households have become a bit cautious in recent weeks.

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Merck Profit Rises on Cancer Drugs, Vaccines

Merck posted increases in revenue and profit as a closely watched cancer treatment and vaccines bolstered results.

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Chinese Startups Saddle Up For Bike-Sharing Battle

Companies backed by tech firms are trying to make money from a two-wheeled commodity that had become a symbol of China’s poorer past.

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Caterpillar Says Sales Woes Could Linger

Caterpillar said lower-than-expected equipment sales in the second half of the year could continue into next year, as the company reported revenue in its latest quarter remained battered, falling 16%.

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U.S. Home-Price Growth Heats Up in August, Case-Shiller Says

Home-price growth accelerated in August—with the Case-Shiller index rising 5.3% from the previous August—as a lack of inventory and low interest rates helped push prices to near-record levels.

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Under Armour Slides as Growth Expectations Lowered

Shares of Under Armour dropped sharply as the athletic gear maker, which has been expanding at a strong clip, tempered its growth expectations going forward.

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General Motors Earnings More Than Double

GM recorded significantly higher earnings and record revenue in the third quarter amid strong truck sales in the U.S. but signaled continued weakness in Europe on Brexit fallout.

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Deal Making Preserves Coors Clan as American Beer Dynasty

Pete Coors, vice chairman of Molson Coors Brewing, has pursued a series of deals that preserved the independence of the family business, helping his clan survive in an industry other American beer dynasties fled long ago.

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U.K. Government Green-Lights Expansion of London's Heathrow Airport

The British government has backed expansion of London Heathrow airport in a landmark decision that aims to keep the U.K. as a major center for international air travel.

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Germany Inc. Clings to Cash as Outlook Sours

German companies are sitting on a half-trillion dollars of cash but are reluctant to invest it in their own country, potentially threatening the country’s competitive edge and European economic growth.

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Syngenta-ChemChina Deal Closing Likely to Be Delayed

Swiss seed and pesticide maker Syngenta said regulatory approval of its proposed acquisition by ChemChina is likely to be delayed into early 2017 as regulators seek more information amid a consolidation wave in the sector.

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CEO Satya Nadella Seeks to Change Microsoft's Image

Microsoft CEO Satya Nadella is pushing the company to shed its not-invented-here approach and learn where it can improve.

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Novartis Profit Helped by GlaxoSmithKline Joint Venture

Novartis said net income increased in the third quarter thanks to proceeds from its consumer health joint venture with GlaxoSmithKline, helping to offset declining revenue and heavy investment in its new heart-failure medicine and its ailing eye-care unit.

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Orange Profit Up as International Sales Grow

Orange sales growth picked up slightly in the third quarter but a drop in revenue in its home market of France weighed on results.

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Security Worries Led Germany to Question Chinese Takeover of Aixtron

The German government reopened its review of a $728.89 million Chinese takeover of chip equipment maker Aixtron because of security concerns, the buyer said.

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Monday, October 24, 2016

IBM in Settlement Talks With Australia Over Botched Online Census

International Business Machines is negotiating a settlement with Australia’s government over a bungled effort to oversee the country’s first online census.

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Kimberly-Clark is Bracing for More Quarters of Sluggish Sales

The maker of Kleenex tissues and Huggies diapers lowered its financial forecasts Monday.

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Merck Drug Gets FDA Approval as a First-Line Lung Cancer Treatment

Merck & Co.’s immunotherapy cancer drug Keytruda received U.S. Food and Drug Administration approval as a first-line treatment for certain lung cancer patients.

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Sonic Gives Disappointing Annual Guidance

Fast-food chain Sonic expects the weak consumer spending and competitive pressure that led to a sharp sales slowdown in the most-recent period to carry into the current fiscal year.

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AT&T Deal Faces Tough Climate

AT&T’s $85.4 billion deal to buy Time Warner sails toward two cresting waves of opposition: resurgent antitrust enforcement in Washington and politicians fired by a new bipartisan populist rage.

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ACA Deadline Extended for Those Who Lost Their Health Plans

Hundreds of thousands of consumers whose health insurance plans are being discontinued for 2017 will get some flexibility when signing up for a new plan during the Affordable Care Act’s open enrollment, a sign of continued turmoil in the exchange markets.

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Nordstrom's Finance Chief to Retire Next Spring

Nordstrom CFO Michael G. Koppel intends to retire next spring, the retailer said Monday.

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Gannett Plans to Cut 2% of Its Workforce

Gannett Co. plans to cut 2% of jobs and invest in more acquisitions to transform its business, according to a memo to staff, as the newspaper industry struggles with a particularly turbulent advertising environment.

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TelexFree Founder James Merrill Pleads Guilty to Fraud Charges

James Merrill, who founded and then captained the meteoric rise of TelexFree before it was shut down by federal authorities, has pleaded guilty to criminal fraud charges for his role in running a multibillion-dollar pyramid scheme at the company.

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Detroit Increases Truck Capacity; Signs of Market Peak Appear

GM, Ford and Fiat Chrysler are pledging to expand U.S. capacity to make pickups and SUVs as passenger car sales slump, exacerbating a budding price war for the industry’s best-selling vehicles.

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Lockheed Martin Earnings Preview: What to Watch

Lockheed’s portfolio reshaping and uncertainty over military budgets and pension costs are coloring the defense sector’s outlook.

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AT&T Promises Ad Innovation With Time Warner Deal

AT&T’s proposed $85 billion acquisition of Time Warner could accelerate the adoption of more targeted TV advertising, but several hurdles remain.

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Internal Audit Chiefs Gain in Clout and Compensation

As boards worry more about cyberattacks, compliance and personal liability, chief audit executives, who assess corporate controls, risk management and governance processes, are gaining in influence and pay.

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Embraer to Pay $205 Million to Settle Bribery Allegations

Brazilian aircraft maker Embraer reached an agreement with U.S. and Brazilian authorities to settle an investigation into alleged bribes paid to foreign officials, paying $205 million in compensation, the SEC said.

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Catholic Health Initiatives, Dignity Health in Merger Talks

Hospital operator Catholic Health Initiatives, which has struggled after rapid expansion and a foray into health insurance, is in merger talks with Dignity Health to create one of the nation’s largest nonprofit hospital system by revenue.

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New York Times Acquires Two Consumer Guide Sites

New York Times Co. has acquired the consumer guide sites the Wirecutter and the Sweethome, as the company moves to firm up its digital footprint amid the continued erosion of print advertising.

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Consumer Reports Yanks Honda Civic Recommendation

Consumer Reports has pulled its recommendation for the Honda Civic after owners of the popular compact car reported many reliability issues.

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PayPal Gets Friendlier With Facebook

PayPal Holdings is the latest payments provider to look to the world of social media for a new way to grow.

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MTV President Sean Atkins Steps Down After a Year

Sean Atkins, who took over as president of MTV just a year ago, is leaving the TV network, becoming the latest Viacom executive to head for the exits in recent months. VH1 and Logo President Chris McCarthy will add MTV to his responsibilities.

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Tata Sons Unexpectedly Removes Mistry as Chairman

Tata Group, one of India’s largest conglomerates, abruptly removed its chairman, replacing him temporarily with his predecessor, a member of the company’s founding family.

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AT&T, Time Warner Shares Drop Amid Wall Street Skepticism

AT&T Inc. can add Wall Street to the list of parties skeptical of its $85.4 billion deal to buy Time Warner Inc.

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Faith-Based Investor Group Calls for Transparency in Drug Pricing

A group of 300 institutional investors, including many with ties to religious organizations, is waging a new campaign to press drugmakers to justify their price increases.

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T-Mobile Profit Climbs as It Adds 2 Million Customers

T-Mobile US Inc. reported earnings and revenue growth in the most recent quarter, helped by a growing customer base as it ramps up pressure on competitors.

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China's HNA Group to Buy 25% Stake of Hilton

Chinese conglomerate HNA Group said it plans to buy a roughly 25% stake in Hilton Worldwide Holdings from Blackstone Group for $6.5 billion, the latest move into American real-estate assets by a Chinese firm.

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Crown's VIP Ambitions Clouded by Crackdown in China

As Beijing seeks to root out corruption and stem the flow of money abroad, the Australian casino’s efforts to attract Chinese high rollers could prove a losing bet.

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Auto Makers Struggle With Dashboard Screens

Auto makers racing against Silicon Valley firms to develop self-driving cars and electric vehicles face technological challenges with a longstanding mainstay: the dashboard screen.

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Retailers Started Early Recruiting Seasonal Workers

Data from job-search site Indeed.com shows retailers, and the warehouse and logistics firms they compete with for seasonal labor, started searching for temporary workers a month earlier than in recent years.

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Sunday, October 23, 2016

Tyler Perry's 'Madea Halloween' Tops Weekend Box Office

‘Tyler Perry’s Boo! A Madea Halloween,’ the director’s latest turn in his Madea wig, fared the best of the three sequels that led the box office over the weekend, with a $27.6 million debut at No. 1.

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Venture Capitalists Hunt for Next Big Technology

Venture capitalists are always chasing the next big thing. Lately, they are struggling to figure out what that might be, spreading their bets across technologies for which the path to profit is unclear.

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Hanjin Shipping to Close European Operations

The company’s decision to close all of its 10 business operations in Europe is the latest sign that it is heading toward liquidation.

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AT&T Faces Political Barrage

AT&T’s blockbuster $85.4 billion deal to buy Time Warner promises to reshape the media landscape—if the companies can navigate a series of obstacles, including possible opposition from U.S. antitrust authorities and objections by lawmakers and media and telecom rivals.

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The Making of the AT&T-Time Warner Deal

AT&T CEO Randall Stephenson and Time Warner Chief Executive Jeff Bewkes worked quickly behind the scenes in recent months to forge the biggest deal of the year—AT&T’s acquisition of Time Warner for $107.50 a share.

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Web Attack Stemmed From Game Tactics

The computerized attack that left more than 1,200 websites unreachable on Friday stemmed from efforts, years earlier, by players of online games to frustrate and slow their opponents, security experts say.

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AT&T-Time Warner Deal Is Mostly About Defense

AT&T and Time Warner are suiting up for the Great Media Game. Their strategy to win is more about defense than offense.

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Global Economy Week Ahead: U.S. and U.K. GDP, ECB Speeches

Investors and policy makers—not to mention U.S. voters—will get their first view of U.S. third-quarter economic growth this week, while European countries also release GDP data and ECB officials discuss monetary policy.

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The Fatal Mistake That Doomed Samsung's Galaxy Note

On the verge of challenging Apple’s global dominance in mobile phones, the South Korean company made a rushed decision, based on incomplete evidence, that would later force it to kill the model.

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Petrobras Settles With Pimco

Brazilian state oil company Petrobras agreed to settle lawsuits from Pimco and three other investors who alleged they were harmed by a corruption scheme that funneled billions of dollars from the company.

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Promoter AEG, Bon Jovi and the Dalai Lama

An incident involving U.S. promoter AEG, rock band Bon Jovi and the Dalai Lama illustrates the difficulties and quirks that Western entertainment companies contend with in China.

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Banning Tablets Is Best for Children

Columnist Christopher Mims saw some curious results when he banned tablets in his house on weekdays. And new recommendations from the American Academy of Pediatrics are backing up his experiment.

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Rockwell Collins to Buy B/E Aerospace for $6.4 Billion

Rockwell Collins agreed to pay $6.4 billion to buy B/E Aerospace in a deal that would unite two of the global aerospace industry’s biggest suppliers.

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Central Bank Chief Says Canada Can Handle More Infrastructure Investment

The Canadian government has ample fiscal room to increase spending on infrastructure, Bank of Canada Gov. Stephen Poloz said.

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Reynolds Deal Could Help British American Make Up Lost Ground

British American Tobacco’s offer for full control of Reynolds American, if accepted, could give the London-based giant a chance to catch up in the technological race over alternatives to cigarettes.

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Sputtering Startups Weigh on U.S. Economic Growth

The U.S. economy is inching along, productivity is flagging and millions of Americans appear locked out of the labor market. One key factor intertwined with this loss of dynamism: The U.S. is creating startup businesses at historically low rates.

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Australian Cattle Barons Make Counterbid For Kidman

Four of Australia’s wealthiest farming barons have launched a counterbid to prevent Chinese investors from buying the country’s largest cattle farm, S. Kidman & Co.

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Russian Hacker Suspected of LinkedIn Attack Indicted in U.S.

A federal grand jury in Oakland has indicted a 29-year-old Russian man suspected of hacking into three Bay Area technology companies: LinkedIn, Dropbox and Formspring, a now-defunct social networking company.

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New York Governor Signs Bill to Fine Airbnb Rentals

New York Gov. Andrew Cuomo signed into law one of the nation’s toughest measures targeting short-term apartment rentals, a blow to Airbnb Inc., which had recently sought to placate lawmakers in one of its most important local markets.

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Saturday, October 22, 2016

Dyn Says Cyberattack Has Ended, Investigation Continues

The web service provider was disrupted by a denial-of-service attack on Friday that cut off access to popular sites such as Twitter, Netflix and PayPal.

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Rockwell Collins in Advanced Talks to Buy B/E Aerospace

Rockwell Collins Inc. is in advanced talks to purchase B/E Aerospace Inc., in a $6.5 billion deal that would unite two major makers of airplane equipment.

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AT&T, Verizon Make Differing Bets as Wireless Growth Stalls

Faced with the same saturated wireless market, AT&T turns to television with its $80 billion deal for Time Warner, while Verizon bets on Silicon Valley with acquisitions of AOL and Yahoo.

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AT&T Buys Time Warner for More Than $80 Billion

AT&T Inc. has reached an agreement to buy Time Warner Inc. for between $105 and $110 a share, with a deal likely to be announced as soon as Saturday evening, according to people familiar with the plans.

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EU Queries Industry on Microsoft-LinkedIn Deal

In their review of Microsoft’s $26 billion acquisition of LinkedIn, European Union antitrust regulators are attempting to measure the rough value of the professional network’s data and whether rival sites can replicate it.

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Energy Firms Get Closer to Tapping 'Drilled but Uncompleted' Wells

U.S. oil and gas companies have drilled thousands of wells they have yet to tap. As producers report quarterly earnings over the next few weeks, a question looms: When will they start exploiting these “drilled but uncompleted” wells?

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Friday, October 21, 2016

Upstart Belgian Region Stymies EU-Canada Trade Deal

A defiant Belgian region representing less than 1% of the European Union’s population has managed so far to halt a trade deal with Canada supported by the rest of the bloc, raising questions about Europe’s ability to successfully negotiate complex economic agreements.

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GE's 3-D Printing Buys Set to Fail After Elliott Intervenes

General Electric’s $1.4 billion move to buy two European 3-D printing firms looks set to fail after the U.S. conglomerate said it wouldn’t bow to pressure from one of the world’s best known activist investors.

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Apple Approached Time Warner About Possible Merger

Apple approached Time Warner about pursuing a combination a few months ago, and though the discussions didn’t progress beyond a preliminary stage, Apple is now monitoring the media giant’s advanced talks with AT&T.

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Union at Beam Suntory Plants Votes to End Strike

Union workers at Beam Suntory Inc. voted overwhelmingly in favor of a new contract, bringing an end to a strike that has lasted nearly a week.

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U.S. Maritime Watchdog Approves Shipping Alliance

U.S. regulators on Friday approved a new alliance between four of the world’s largest container operators.

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Facebook Employees Pushed to Remove Trump's Posts as Hate Speech

Some of Donald Trump’s Facebook posts set off an intense debate inside the company, with some employees arguing certain posts should be removed for violating the site’s rules on hate speech. CEO Mark Zuckerberg ruled they could stay.

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As Oil Bust Recedes, Is a Barroom Brawl About to Break Out?

The worst of the oil bust may be over, but the energy industry’s infighting has just begun. Oil-field services companies such as Halliburton and Schlumberger are trying to convince producers that they need to be paid more if the industry is to fully recover.

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AT&T Is in Advanced Talks to Acquire Time Warner

AT&T is in advanced talks to acquire Time Warner Inc., a deal that would create a new hallmark in the rapidly converging realms of media, communications and the internet. An agreement could come as early as this weekend.

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Maritime Nations Near Cut to Pollution-Causing Sulfur in Ships' Fuel

The world’s leading maritime nations are leaning toward setting rules next week to cut pollution-causing sulfur from oceangoing vessels’ fuel by more than 85% in 2020.

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Videogame Voice Actors Go on Strike

Thousands of voice-over actors have gone on strike against 11 videogame companies, including industry powerhouses Electronic Arts Inc. and Take-Two Interactive Software Inc., over a pay dispute.

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Microsoft Shares Hit All-Time High

Shares of Microsoft jumped to an all-time high Friday in the wake of a positive earnings report, nearly 17 years after setting its previous high-water mark in the heyday of the dot-com boom.

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Denial of Service Attack Hits Amazon, Twitter, Others

Several websites including Twitter and Tumblr were unreachable for many internet users Friday morning following an online attack.

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Canada's Bombardier to Cut 7,500 More Jobs

Bombardier said it would cut another 7,500 jobs, or just over 10% of its global workforce, as it focuses on turnaround efforts amid a soft business-jet market and ongoing hiccups with its CSeries jet program.

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Irish Whiskey Barrels Ahead

Irish whiskey is making a comeback, with 16 distilleries in Ireland and Northern Ireland, up from four just three years ago. The rising demand has turned Irish whiskey into the world’s fastest-growing major spirit.

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GE Profit Falls as Revenue Growth Less Than Expected

General Electric’s oil and gas business continued to weigh on revenue growth in the latest quarter, and the firm said it would boost its stock-buyback program.

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McDonald's Earnings Top Expectations

McDonald’s reported better-than-expected earnings, helped in part by the continued popularity of its all-day breakfast and the introduction of new chicken nuggets.

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US Foods to Cut Jobs Amid Corporate Restructuring

Food distributor US Foods Holding Corp. plans to eliminate hundreds of jobs as part of a restructuring of its corporate headquarters near Chicago, according to people familiar with the company’s plans.

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SpaceX Probe Into Blast Focuses on Fueling Issues

Investigators believe operational issues linked to fueling procedures, rather than a manufacturing flaw, likely caused a Space Exploration Technologies rocket to explode during ground tests last month.

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SAP Raises Full-Year Guidance

SAP raised its guidance for 2016 to between $7.1 billion to $7.3 billion, even after third quarter net profit fell 19% on higher share-based compensation expenses.

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Daimler Profit Lifted by E-Class Model Sales

Daimler, the German luxury car maker, reported sharply higher profit driven by strong sales of its new E-class models, sport-utility vehicles and positive currency effects.

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Ericsson Plunges to Loss

Ericsson fell to a third-quarter loss amid a slowing telecom-equipment market and fierce Asian competition.

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BAT Offers to Buy Remaining Reynolds Stake for $47 Billion

British American Tobacco said it has made an unsolicited $47 billion takeover offer for the roughly 58% of American peer Reynolds American that it doesn’t already own.

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Thursday, October 20, 2016

Brazil Charges 21 People in Samarco Mining Dam Collapse

Brazilian federal prosecutors filed homicide charges Thursday against 21 people in connection with a catastrophic dam collapse last year that killed 19 people.

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Advanced Micro Devices Posts Second Straight Revenue Increase

Advanced Micro Devices reported a second consecutive quarter of higher sales, fueled by customized chips for videogame makers and its latest graphics products.

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Creditors Nudge Cosi Bid Higher

Unsecured creditors unhappy with Cosi Inc.’s auction proposal pushed the flatbread sandwich chain’s lead bidder to increase its offer and won extra time for rival bidders to enter the fray.

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Dunkin' Brands Franchisees Slowing on Store Openings

Dunkin’ Brands Group Inc. franchisees are slowing openings of new doughnut shops in the U.S. due to economic uncertainty, the company said Thursday.

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Agony, Alarm and Anger for People Hurt by Theranos's Botched Blood Tests

Questionable results led to changes in medical treatment. Weeks or months passed before Theranos told many people their results were unreliable.

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Alaska Air, Virgin America Cool Their Jets as They Await Deal's Approval

The Justice Department is making Alaska Air Group and Virgin America cool their jets on a $2.6 billion merger plan, fanning speculation that regulators believe consolidation in the industry has gone too far.

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The Battle to Reach Election Binge-Watchers

With viewers binge-watching the U.S. presidential election, marketers launching TV shows, books and movies are coming up with some evasive maneuvers to stand out.

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Jakks Pacific Said to Suspend Toy Sales to Kmart

Toy maker Jakks Pacific Inc. has suspended sales of its products to Sears Holding Corp.’s Kmart chain over worries about its financial health, according to people familiar with the matter.

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Whole Foods in Detroit Is Probed Amid Link to Hepatitis A

Health officials in Detroit have opened an investigation into a local Whole Foods Market store over fears that two recently diagnosed cases of hepatitis A may be linked to the grocer’s prepared-foods section.

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Microsoft's Cloud Buoys Earnings

Microsoft’s cloud business is growing fast enough to offset stalling revenue from its Windows workhorse. That growth helped the company easily top Wall Street’s expectations, sending shares higher.

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Schlumberger Profit Falls Sharply

Schlumberger said its third-quarter earnings fell 82% on lower revenue and expenses related to the oil-field services acquisition of Cameron International Corp. earlier this year.

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PayPal Revenue Climbs on Growing Active Accounts

PayPal Holdings Inc. said Thursday that revenue jumped 18% in the September quarter, boosted by a higher number of active customer accounts.

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Tesla Sets Price for Self-Driving Feature

Tesla Motors Inc. set its retail price for the option that would allow a car to drive fully autonomously at $8,000—and hinted that those who paid it would be able to offset the cost through a ride-hailing network that would compete with Uber Technologies Inc. and Lyft Inc.

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Third Debate Grows in Ratings, Fails to Top First Contest

TV ratings for the final presidential debate between Hillary Clinton and Donald Trump failed to top the record-breaking first contest, but viewership grew from the second debate.

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Lawsuit Over Cellphones and Cancer Hits a Stumbling Block

An appeals court dealt a setback to a long-running lawsuit against the wireless industry over health concerns surrounding cellphones, deciding that a different legal standard for evidence should have been applied.

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Nintendo's Next System Will Be Playable at Home or on the Go

Nintendo’s next videogame platform is a console-handheld hybrid called “Switch,” the company announced in a video clip Thursday.

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De Beers Harvests Diamonds at the Bottom of the Sea

De Beers is pouring money into an operation that mines diamonds at the bottom of the ocean, yielding some of the world’s highest-quality gems.

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U.S. Existing-Home Sales Rebounded in September

Home-buying activity picked up in September following a two-month slide, a rebound that pointed to stabilization in the U.S. housing market.

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American Airlines' Profit Falls

American Airlines said profit and revenue fell in the third quarter amid continued overcapacity, as it continued to spend to integrate US Airways Group into the company.

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Verizon Revenue Falls Below Views

Verizon Communications reported revenue slid more than expected in the latest quarter as subscriber additions plunged amid a pricing war that continues to weigh on the wireless provider.

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BHP Billiton Chairman Jac Nasser to Step Down Next Year

BHP Billiton Chairman Jac Nasser said he plans to step down as chairman of the mining giant next year.

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U.S. Jobless Claims Climbed in Week Following Hurricane Matthew

The number of Americans seeking first-time jobless benefits rose last week, but the signal the data sends on the economy is difficult to read due to a hurricane striking the Southeast and the Columbus Day holiday.

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Nissan Takes Controlling Stake in Mitsubishi Motors

Nissan Motor completed its purchase of a controlling stake in scandal-hit Mitsubishi Motors for more than $2 billion, a deal aimed at boosting scale to take on the world’s top auto makers.

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Plummeting Newspaper Ad Revenue Sparks New Wave of Changes

Newspapers are suffering an accelerating drop in print advertising, a market that already was under stress, forcing some publishers to consider significant cost cuts and dramatic changes to their print and digital products.

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Crown Urges Investors Not to Cash In Chips Over China Troubles

Embattled Australian casino operator sought to reassure shareholders it could withstand fallout from the detention of 18 of its employees in China.

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Lackluster Sales Growth Puts Publicis on Defensive

Publicis saw overall organic sales grow 0.2%, below analysts’ expectations of 0.8% and way shy of the company’s historic growth levels, largely because of the loss of key U.S. clients last year.

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Nestlé May Miss Its Long-Term Sales Target, Again

Nestlé said sales rose slightly in the first nine months of the year and signaled that it will miss its long-term sales target for a fourth-straight year.

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Glencore Sells Australia Rail Unit in Latest Deal to Cut Debt

Glencore will sell its coal-haulage business in Australia’s New South Wales state to U.S. railroad operator Genesee & Wyoming for $874 million, as the mining giant works to cut its debt load.

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Roche Sales Lifted by Cancer Drugs

Roche Holding said sales climbed in the third quarter thanks to strong growth for several of its cancer and immunotherapy drugs.

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For Nintendo and the NX System, Communication Is Key

For Nintendo, the success of its next videogame platform depends on how well it can get through to consumers who turned their backs on the last big introduction of its hardware.

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Wednesday, October 19, 2016

Dow Jones Plans WSJ Review

Dow Jones announced a broad review of operations at The Wall Street Journal, driven by a significant decline in print advertising.

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Are Banks the Only Places to Park Your Money?

In addition to banks, nonprofit credit unions provide another place to park your money.

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Tesla Begins Equipping All Vehicles With Self-Driving Hardware

Tesla Motors Inc. has begun equipping all of its vehicles with hardware to make the vehicles fully self-driving and Chief Executive Officer Elon Musk expects to demonstrate a self-driven cross-country trip by the end of next year.

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Yahoo Seeks U.S. Declassification of Data-Gathering Efforts

Yahoo Inc. on Wednesday asked U.S. Director of National Intelligence James Clapper to allow the company to shed more light on information gathering it is doing for the government.

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EBay Revenue Grows, Though Profit Declines

EBay on Wednesday said revenue grew 5.6%, a third straight quarter of sales gains as a new initiative to transform the online retailer’s search results and image has begun to pay off.

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Google Signs Up CBS for Planned Web TV Service

Google Inc. has reached an agreement with CBS Corp. to carry the broadcast network on its soon-to-be-launched web TV service, people familiar with the matter said.

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New Caterpillar CEO Faces Tough Decisions as Company Digs Out

Among Jim Umpleby’s first big jobs as Caterpillar’s chief executive will be cleaning up the fallout from his predecessor’s expansion plans.

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Halliburton Swings to Profit

Halliburton posted a surprise small profit for the third quarter after a year of losses during a protracted energy downturn.

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Coming Job at Mitsubishi Motors Puts Auto Chief's Pay in Spotlight

There is no word yet what Carlos Ghosn will earn for coming duties at Mitsubishi Motors, but even a modest pay package could make the chief executive of Nissan Motor and Renault better paid than top executives at the Detroit Three auto makers.

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FCC Reaches Settlement With T-Mobile Over Unlimited Plans

The Federal Communications Commission said Wednesday it reached settlement with T-Mobile US Inc. valued at $48 million for failing to adequately inform consumers of wireless data restrictions on plans it called “unlimited.”

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GE's Performance Under Scrutiny

General Electric, which reports earnings Friday, is contending with a raft of Wall Street downgrades, a slipping stock price, and growing questions of whether the conglomerate will meet its own profit goal for the year.

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Verizon Earnings: What to Watch

Subscriber numbers will be in focus when Verizon Communication, the nation’s largest wireless carrier, releases its earnings report.

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When Tech Bites Back: Innovation's Dark Side

Technology optimists claim many benefits of today’s innovations don’t show up in GDP. What they forget: Many of the costs don’t, either, writes Greg Ip.

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Fed's Beige Book: U.S. Economy Expands, Labor Market Tightens

The economy continued to expand into early October despite some uncertainty generated by the election, a Federal Reserve report said, indicating more of the slow growth that could leave the central bank on track to raise interest rates late this year.

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China's Internet Reflects Power of the Checkbook

Columnist Li Yuan writes that China’s internet industry is dominated by a trio of giants, and they use investments and acquisitions to maintain their control.

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America's Dazzling Tech Boom Has a Downside: Not Enough Jobs

The discontent driving Donald Trump’s campaign stems in part from the dashed employment promises of the late 1990s. Tech companies moved manufacturing jobs outside the U.S., the newest giants need fewer workers and the number of startups fizzled.

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Abbott Labs Swings to Loss After Booking Charge on Mylan Stake

Abbott Laboratories swung to a loss in the most recent quarter as it booked a hefty charge related to the stock-price drop of embattled EpiPen maker Mylan NV, in which it owns a stake.

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Facebook to Add Food-Delivery Option

The latest features from the social media company also allow users to buy movie tickets and book salon appointments straight from the app.

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Shine Comes Off Big Consumer-Product Companies

It isn’t as easy as it used to be to deliver the steady sales growth investors have come to expect from the world’s biggest consumer-product makers.

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Reynolds American CEO to Leave Role at Year's End

Reynolds American Inc. said Susan Cameron will leave her role as chief executive at the end of the year and be replaced by Debra Crew, who currently serves as president of the company’s largest tobacco subsidiary.

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AT&T Seeks to Shake Up Pay TV

AT&T’s new DirecTV Now service will stream dozens of live channels to televisions and mobile devices without the need for a satellite dish, cable box or annual contract.

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It's Goodbye QWERTY, Hello Emojis as Apple Rethinks the Keyboard

The Cupertino-based tech giant has teamed up with Australia’s Sonder Design to work on a keyboard that will be able to display any alphabet, along with an unlimited number of special commands and symbols.

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Mitsubishi Cuts Sales View

Mitsubishi Motors lowered its full-year sales projection and said it expects losses to steepen as the company struggles to overcome a fuel-economy scandal in its home market.

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Truck Drivers Irked by Flaws in Background-Check System

Truckers say faulty background checks and difficulties getting access to paid reports and resolving disputed information are depriving them of jobs.

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EBay to Millennials: We Are Much More Than Auctions

The e-commerce site is trying to redefine itself to capture millennial consumers who shop on their phones and don’t have time to scroll through thousands of listings.

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U.S. Housing Starts Fell 9% in September

Housing starts fell for the second straight month in September, but builders received more permits, a sign residential construction could pick up in the coming months.

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BHP Billiton Flags Early Signs of Commodities Recovery

The chief executive of the world’s biggest miner by market value, sounded a more positive tone on world commodity markets, saying there are early indications the glut in some sectors is easing.

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Reckitt Lowers Full-Year Outlook

Reckitt Benckiser owered its outlook for the year and reported third-quarter sales that missed estimates on a sharp slowdown in growth in the consumer-goods company’s health business. The shares fell in early trading.

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Carrefour Sales Lifted by Latin America

Retailer Carrefour beat analyst consensus in the third quarter with robust sales growth in Latin America and ongoing improvements in its core French market, even though its Asia business continued to shrink.

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Lotte Chairman Charged With Embezzlement, Tax Evasion

Prosecutors charged the chairman of Lotte Group and four other family members with tax evasion, embezzlement and breach of trust, concluding a corruption investigation of one of South Korea’s biggest businesses.

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Tuesday, October 18, 2016

Medicare Spent $359 Million on Unnecessary Chiropractic Care

More than 80% of the money that Medicare paid to chiropractors in 2013 went for medically unnecessary procedures, a new federal audit found.

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China Growth Holds Steady at 6.7% in Third Quarter

China’s economy steadied in the third quarter, clocking in 6.7% growth fueled by easy credit, a hot property market and other stimulus measures that economists say come at the expense of needed restructuring.

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Metropoulos to Invest in Utz Quality Foods

Metropoulos & Co., which brought Hostess Brands out of liquidation three years ago, is the first outside investor in Utz Quality Foods Inc., which makes potato chips, pretzels and cheese snacks under several brands.

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China to World: We Don't Need Your Factories Anymore

Chinese manufacturers once bought high-tech materials from overseas firms. Rising expertise means they now shop locally, altering global trade.

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Salesforce's M&A Target List Excluded Twitter

Months before Salesforce considered buying Twitter, the company was looking at more than a dozen acquisition targets that didn’t include the social-media giant, according to a leaked internal presentation for its board members.

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