China’s trade growth seen falling short of target in 2014

SHANGHAI (Reuters) – China’s trade will grow 3.5 percent in 2014, implying the country will fall short of a current 7.5 percent official growth target, according to a report on the Ministry of Commerce’s website that was subsequently revised to remove the numbers. The initial version of the report published on the website on Saturday, […]




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U.S. retailers likely to just meet holiday sales forecasts: experts

By Nandita Bose CHICAGO (Reuters) – U.S. consumers have not turned out in force for the final shopping days before Christmas, suggesting that traditional retailers will just meet industry sales forecasts in a season marked by deep discounts and growing encroachment from online rivals led by Amazon.com Inc (AMZN.O). Super Saturday – the last pre-Christmas […]




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Holiday shopping solid despite gloomy forecasts

Turns out there’s going to be a Christmas this year after all. The newswires were burning up early on Monday after retail analytics firm ShopperTrak estimated total retail sales on Saturday would come in at about $10 billion. That’s almost $1 billion higher than Black Friday, which we declared dead as a concept in this […]




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Obama says Sony hack not an act of war

By Steve Holland WASHINGTON (Reuters) – U.S. President Barack Obama moved to prevent U.S. anger at North Korea from spiraling out of control on Sunday by saying the massive hacking of Sony Pictures was not an act of war but instead was cyber-vandalism. Washington’s long-standing dispute with North Korea, which for years has centered on […]




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Russia’s richest man responds to Putin’s call to bring assets home

MOSCOW (Reuters) – Russia’s richest man Alisher Usmanov has transferred his holdings in mobile operator Megafon and iron ore producer Metalloinvest to Russian entities after President Vladimir Putin urged businessmen to bring their assets home. Putin redoubled his efforts to encourage businessmen to “de-offshore” their assets on Thursday in his annual end-of-year news conference, as […]




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U.S. oil extends dive, settles below $60 for first time since ’09

(Reuters) – U.S. crude futures fell below $60 a barrel on Thursday, the first time in five years that it breached the psychologically-important support, as oil markets extended this week’s losses on oversupply concerns. New York Mercantile Exchange’s front-month West Texas Intermediate contract for U.S. crude was down 96 cents at $59.98 a barrel by […]




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Rebound rally: Stocks pare losses as traders shrug off global woes

By Caroline Valetkevitch NEW YORK (Reuters) – The Dow and SP 500 fell on Tuesday following concerns about global weakness and political turmoil, while the Nasdaq edged higher along with tech shares and energy. All three indexes pared losses after midday, with the SP 500 cutting its decline in half. Apple (AAPL.O) shares were up […]




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Ukraine expects Russian gas supplies to resume Monday: minister

KIEV (Reuters) – Ukraine expects Russia to resume supplies of gas from Monday after Kiev transferred a pre-payment of $378 million to Gazprom, its energy minister said on Sunday. Russia cut gas deliveries to Ukraine in mid-June in a dispute over prices and debts and supplies have remained suspended while the haggling played out against […]




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Bulls in control: Dow closes week at record high

By Caroline Valetkevitch NEW YORK (Reuters) – An unusually strong U.S. jobs report lifted the dollar to a five-and-a-half-year high against a basket of currencies on Friday and drove stocks higher, led by financial shares. U.S. bond prices dropped, with the yield on U.S. two-year Treasuries (US2YT=RR) hitting the highest level since May 2011, as […]




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2% to 3% growth feels perpetual: Wal-Mart CEO

Wal-Mart (WMT) CEO Doug McMillon told CNBC on Wednesday the U.S. economy does not seem to be picking up that much stream. “This 2 percent to 3 percent growth range number just feels like it’s kind of perpetual,” he said on ” Squawk Box ” from the Business Roundtable meeting in Washington, D.C. “We’re kind […]




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Oil futures rebound from five-year low after OPEC slump

West Texas Intermediate rebounded from the lowest level in more than five years as the market selloff prompted by OPEC’s failure last week to curb production took a pause. Futures in New York rose the most in more than two years and Brent jumped 3.4 percent in London. Both grades had their biggest monthly loss […]




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