Greek PM warned lenders of not repaying IMF debt in May: report

ATHENS (Reuters) – Greece’s Prime Minister Alexis Tsipras had at one stage warned foreign creditors that Athens would not repay 750 million euros due to the IMF in May unless they provided it with immediate liquidity, the Kathimerini newspaper reported on Saturday. Athens ultimately made the May 12 payment by emptying an International Monetary Fund […]

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U.S. stocks zoom higher, S&P 500 eyes fresh record close

U.S. stocks advanced, with the Standard Poor’s 500 Index trading above its record close, as technology shares rallied for a second day and the dollar earlier fell to a four-month low. Microsoft Corp. and Apple Inc. added at least 2.1 percent, while the Nasdaq Internet Index jumped 1.6 percent. Computer Sciences Corp. gained 3.7 percent […]

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Can Tesla’s battery hit $1 billion faster than the iPhone?

Tesla’s new line of big, stackable batteries for homes and businesses started with a bang. The reservations reported in the first week are valued at roughly $800 million, according to numbers crunched by Bloomberg. If Tesla converts even a fraction of those reservations into actual sales, the battery roll-out could measure up as one of the […]

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Can Tesla’s battery hit $1 billion faster than the iPhone?

Tesla’s new line of big, stackable batteries for homes and businesses started with a bang. The reservations reported in the first week are valued at roughly $800 million, according to numbers crunched by Bloomberg. If Tesla converts even a fraction of those reservations into actual sales, the battery roll-out could measure up as one of the […]

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China cuts rates for third time in six months as economic woes mount

By Judy Hua and Kevin Yao BEIJING (Reuters) – China cut interest rates for the third time in six months on Sunday in a bid to lower companies’ borrowing costs and stoke a sputtering economy that is headed for its worst year in a quarter of a century. Analysts welcomed the widely-expected move, but predicted […]

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Stocks leap as jobs data ease economic, rate concerns

U.S. stocks rose the most since March after a rebound in hiring last month bolstered optimism that economic growth is accelerating, but not fast enough to warrant higher interest rates in June. Raw-material shares rallied to a two-month high after a jump in construction jobs. Home Depot Inc. and Whirlpool Corp. advanced at least 2.1 […]

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U.S. stocks fall for second day amid growth concerns after data

  U.S. stocks fell, following the steepest decline for equities in more than a month, as weaker-than-estimated data added to concerns about slowing growth before Friday’s government jobs report. Hewlett-Packard Co. and Microsoft Corp. dropped for a third session, weighing on technology shares. Alexion Pharmaceuticals Inc. tumbled 10 percent after agreeing to buy Synageva BioPharma […]

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Housing values: Why the divide isn’t narrowing

The number of borrowers who owe more on their mortgages than their homes are worth fell to the lowest level in eight years, but those who are still “underwater” are drowning faster than ever in foreclosure. By March, 1.6 million borrowers had crossed back into a positive equity position on their home loans compared to […]

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Buffett celebrates 50th year at Berkshire, gave no hint of successor

By Luciana Lopez and Jonathan Stempel OMAHA, Neb. (Reuters) – Berkshire Hathaway Inc shareholders on Saturday celebrated Warren Buffett’s 50th anniversary running the conglomerate, as the billionaire expressed optimism the company would thrive over the long haul, even after he’s gone. Buffett and his second-in-command Charlie Munger fielded hours of questions from shareholders, analysts and […]

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U.S. stocks slammed as traders fret over earnings; Dow turns red for ’15

 By Sam Forgione NEW YORK (Reuters) – Stock markets worldwide stumbled for a second straight day on Thursday after more weak earnings reports, while the dollar trimmed losses after hitting fresh nine-week lows. The latest batch of lacklustre corporate results weighed down shares on Wall Street. Weak quarterly earnings from Celgene (CELG.O) led a fall […]

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