Why Apple’s latest antitrust woes are a good thing

Apple’s (AAPL) efforts to break into the streaming music business have attracted considerable attention from fans, investors, analysts and even a few lawyers in Washington, D.C. But while Apple obviously shouldn’t get tangled up in another antitrust lawsuit, the company’s aggressive negotiations and strategies are actually positive signs of a market leader still fighting for […]

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Fed officials see rate ‘liftoff’ this year

By Howard Schneider and Jonathan Spicer WASHINGTON (Reuters) – The U.S. economy is growing moderately after a winter swoon and likely strong enough to support an interest rate increase by the end of the year, U.S. Federal Reserve officials indicated on Wednesday. After contracting in the first quarter, the economy is now on track to […]

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SpaceX to build test track for futuristic Hyperloop high-speed transport

By Irene Klotz CAPE CANAVERAL, Fla. (Reuters) – Two years after unveiling plans for a futuristic, high-speed Hyperloop transportation system, technology entrepreneur Elon Musk announced plans for building a test track in southern California and a competition for prototype pods, documents obtained by Reuters show. As described in Musk’s 57-page white paper, the solar-powered Hyperloop […]

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Murdoch brothers’ symbiotic ties to be tested in Fox cockpit

By Paul Sandle and Byron Kaye LONDON/SYDNEY (Reuters) – One has been closely involved with the family business from his early 20s and is driven to succeed. The other had to be lured back from a decade’s hiatus from the company and has operated at the edges of the empire. Now James and Lachlan Murdoch, […]

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Citigroup: time to write OPEC’s obituary?

How times have changed. Not that long ago, it used to be that oil traders and energy giants hung on OPEC’s every word. Now we have Citigroup’s global head of commodities research asking if it’s time to write the group’s obituary. Citi’s Ed Morse is out with an opinion piece asking whether OPEC’s power is essentially gone. The discussion […]

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Wall Street wobbles as traders eye yields

U.S. stocks closed narrowly mixed as investors eyed recovery in bond yields and economic indicators that could shed light on the timing of a rate hike, amid continued Greece debt negotiations. (Tweet This) “We’re watching the 10-year yield as if it’s a textbook, moving higher on economic data,” said Quincy Krosby, market strategist at Prudential […]

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Deutsche Bank appoints new CEO in latest post-crisis shakeup

By Thomas Atkins and Edward Taylor FRANKFURT (Reuters) – Germany’s largest lender Deutsche Bank purged its leadership on Sunday, appointing Briton John Cryan as chief executive to replace Anshu Jain just two weeks after Jain was given more power to reorganise the bank. Deutsche Bank has struggled to restore an image tarnished by a raft […]

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Steady OPEC, firm demand will send oil to $60-$80 range: Energy investor

The great global oil glut of 2014 and 2015 is ending, and a stronger world economy will stoke demand to lift crude prices a bit, benefiting leading producers and their investors. That’s the position of Rob Thummel, portfolio manager at energy-focused investment firm Tortoise Capital Advisors, who expects crude to advance toward a new trading […]

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Attack of the doves? Low rates may be harming the middle class

There was certainly a time and place for it: Most economists credit the Federal Reserve’s super-low interest rate policy, in effect since 2008, with reviving shell-shocked financial markets and breathing life back into the economy. But nearly seven years on, aggressive monetary stimulus may now be hurting those it’s meant to help. Fed critics have […]

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OPEC’s front lines in the shale fields and Wall Street

Oil bulls pinning their hopes on tumbleweeds in East Texas may now be peering further south. The argument for oil rebounding after last year’s crash rests largely on cash flow-constrained shale drillers in Texas and other states downing tools. The roughly 30% rally since mid-March in front-month oil futures, to almost $60 a barrel, has […]

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