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Updated: 32 min 17 sec ago

Costco owes Tiffany $19.4 million for fake Tiffany rings: U.S. judge

Mon, 08/14/2017 - 5:50pm
NEW YORK (Reuters) - A federal judge on Monday said Tiffany & Co may recover at least $19.4 million in damages from Costco Wholesale Corp over the warehouse club chain's illegal sale of counterfeit diamond engagement rings bearing the "Tiffany" name.

U.S. judge says LinkedIn cannot block startup from public profile data

Mon, 08/14/2017 - 5:36pm
SAN FRANCISCO (Reuters) - A U.S. federal judge on Monday ruled that Microsoft Corp's LinkedIn unit cannot prevent a startup from accessing public profile data, in a test of how much control a social media site can wield over information its users have deemed to be public.

JPMorgan launches new algo-driven 'dark pool' for stocks

Mon, 08/14/2017 - 4:44pm
NEW YORK (Reuters) - JPMorgan Chase & Co has begun trading on a new private stock trading venue, or "dark pool," that lets its clients use the bank's algorithms to buy or sell stocks at a benchmark price reached over a period of time.

Buffett's Berkshire sheds GE, adds Synchrony

Mon, 08/14/2017 - 4:41pm
NEW YORK (Reuters) - Warren Buffett's Berkshire Hathaway Inc on Monday said it has taken a 17.5 million share stake in Synchrony Financial and shed its investment in the financial services company's former parent, General Electric Co.

Corvex warns of proxy fight with Energen after raising stake

Mon, 08/14/2017 - 3:48pm
(Reuters) - Corvex Management threatened a proxy battle against Energen Corp if the U.S. oil and gas producer did not agree to add the activist investor's nominees to its board.

Qualcomm outlines impact of dispute with Apple after SEC request

Mon, 08/14/2017 - 2:54pm
(Reuters) - Chipmaker Qualcomm Inc on Monday disclosed further details about the impact of an ongoing dispute with Apple Inc, responding to questions from the U.S. Securities and Exchange Commission.

Uber investor gave Kalanick a month before suing to force him off board

Mon, 08/14/2017 - 2:48pm
(Reuters) - Venture capital firm Benchmark Capital said on Monday it gave Uber and its ousted chief executive, Travis Kalanick, a month to review its recommendations before filing a lawsuit last week to force him off the board and rescind his ability to fill three seats.

Fed's Dudley eyes September balance sheet move, sees one more rate hike this year

Mon, 08/14/2017 - 2:36pm
WASHINGTON (Reuters) - New York Federal Reserve Bank President William Dudley said on Monday that it was not unreasonable to think that the central bank would begin trimming its balance sheet in September and sees another rate hike this year should economic data hold up.

Trump's probe on China intellectual property theft could spur change

Mon, 08/14/2017 - 2:29pm
WASHINGTON (Reuters) - U.S. President Donald Trump returned to Washington on Monday to authorize an inquiry into China's alleged theft of intellectual property, a step that analysts say is aimed at pressuring Beijing into a negotiated settlement to revise its practices.

U.S. hedge funds circle high-flying tech stocks in second-quarter: SEC filings

Mon, 08/14/2017 - 2:16pm
NEW YORK (Reuters) - U.S. hedge fund managers were active in the FAANG group of high-flying tech stocks in the second quarter, with Third Point increasing its stake in two of the companies and Omega Advisors trimming stakes in three, regulatory filings showed.

Target appoints Walmart, General Mills executives to shore up grocery business

Mon, 08/14/2017 - 2:12pm
CHICAGO (Reuters) - Target Corp said on Monday it has hired two former executives from Wal-Mart Inc and General Mills Inc to join its food and beverage business, as the retailer seeks to revamp its grocery aisles.

Pershing Square says ADP CEO misled board on talks with hedge fund

Mon, 08/14/2017 - 1:09pm
(Reuters) - Activist investor Pershing Square Capital Management LP said on Monday the chief executive of Automatic Data Processing Inc had "unfairly characterized" their interactions in an effort to make the hedge fund's requests "appear unreasonable".

Facebook expands Marketplace trading service across Europe

Mon, 08/14/2017 - 1:01pm
FRANKFURT (Reuters) - Facebook is stepping up its modest moves into e-commerce by expanding its service for connecting local buyers and sellers into 17 new European markets, the U.S. company said on Monday.

Big-name U.S. hedge funds shed healthcare stocks during the rally in second quarter

Mon, 08/14/2017 - 12:50pm
NEW YORK (Reuters) - Several big-name hedge fund investors trimmed their stakes in healthcare companies in the second quarter as the sector led the broad U.S. stock market higher, rallying as Republican efforts to repeal and replace President Obama's signature healthcare law dimmed.

China's Guizhou province to oversee Apple's data project

Mon, 08/14/2017 - 10:45am
SINGAPORE (Reuters) - China's Guizhou province, where Apple Inc has set up its first data center in the country, plans to create a working committee chaired by communist party members to oversee the U.S. company's iCloud facility.

Raytheon names former U.S. deputy defense secretary to board

Mon, 08/14/2017 - 9:56am
(Reuters) - Tomahawk missile maker Raytheon Co on Monday named former U.S. Deputy Defense Secretary Robert Work as a director to its board.

Snap shares wither more as filings show some investors bailing

Mon, 08/14/2017 - 9:43am
NEW YORK (Reuters) - Snap Inc shares fell 4 percent on Monday after U.S. securities filings showed some funds dissolving their stakes in the social media company and another brokerage lowered its price target on the stock.

Merck CEO resigns from Trump council after Charlottesville

Mon, 08/14/2017 - 9:38am
(Reuters) - Merck & Co Inc Chief Executive Kenneth Frazier resigned from U.S. President Donald Trump's American Manufacturing Council on Monday, saying he was taking a stand against intolerance and extremism.

Barclays closures add to toll of vanishing British bank branches

Mon, 08/14/2017 - 9:15am
LONDON (Reuters) - Barclays plans to close around 54 branches by the end of the year in an effort to cut costs, further reducing access to banking services for customers in parts of Britain.

Philippines suspends Uber operations for one month

Mon, 08/14/2017 - 8:51am
MANILA (Reuters) - The Philippines on Monday suspended the accreditation and operation of Uber [UBER.UL] for one month, in a decision that followed a government crackdown on unregistered drivers offering app-based ride-hailing services.