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Wall St. on track for four-day rally; tech lifts Dow

Breaking Business News - 1 hour 22 min ago
NEW YORK (Reuters) - U.S. stocks rose on Monday, putting major indexes on track for a fourth straight daily gain, with gains in large-cap tech shares giving an outsized boost to the Dow.

Icahn's money could keep Atlantic City casino open another year: lawyer

Breaking Business News - 1 hour 38 min ago
WILMINGTON, Del. (Reuters) - The Trump Taj Mahal, a casino hotel in New Jersey's struggling Atlantic City gambling hub, could stay open for all of 2015 with a $20 million financing package from investor Carl Icahn, lawyers for Trump Entertainment Resorts said on Monday.

U.S. existing home sales hit six-month low, inventories low

Breaking Business News - 1 hour 50 min ago
WASHINGTON (Reuters) - U.S. home resales tumbled to a six-month low in November after two straight months of strong increases, underscoring the uneven nature of the housing market recovery.

Alstom to pay record $772 million to settle bribery charges with U.S.

Breaking Business News - 1 hour 59 min ago
WASHINGTON (Reuters) - The French firm Alstom SA has pleaded guilty and will pay $772 million in criminal penalties to settle charges with the U.S. Justice Department alleging the company bribed government officials to win business around the world.

Russia in recession in 2015, ruble to stay pressured: Reuters poll

Breaking Business News - 3 hours 4 min ago
MOSCOW (Reuters) - The Russian economy will slide next year into its first recession since the global financial crisis and inflation will be close to double digits, economists forecast in a Reuters poll, as the oil price crash and Western sanctions bite.

Russia says U.S. scrapping steel trade deal raises WTO issues

Breaking Business News - 3 hours 34 min ago
LONDON (Reuters) - Russia has complained that a U.S. move to scrap a 15-year-old deal sheltering Russian flat-rolled steel producers from high import duties is inconsistent with World Trade Organization rules.

Mashable hires Fortune’s Mangalindan as tech writer

Talking Biz News - 3 hours 58 min ago
Mashable  announced Monday that it has hired JP Mangalindan as a tech reporter in its San Francisco bureau. Mangalindan will cover the giants of the social media world, Facebook, Twitter, Tinder, Pinterest, Snapchat, Secret,...

Las Vegas Biz Press switching to tabloid format

Talking Biz News - 4 hours 7 min ago
The Las Vegas Business Press is switching from a glossy magazine format to a tabloid newspaper format. Editor Norman Bell writes, “And, it’ll have new features inside: ■ Each week, our Focus section will...

Gucci to check Chinese suppliers after TV exploitation charges

Breaking Business News - 4 hours 21 min ago
MILAN (Reuters) - Italian fashion house Gucci said on Monday it would strengthen controls on its suppliers after a television program showed Chinese employees working more than three times their official hours to assemble its handbags.

Oil slides after Saudi's Naimi says OPEC won't cut output

Breaking Business News - 4 hours 23 min ago
NEW YORK (Reuters) - Oil prices resumed their downward march on Monday, doubling back on the biggest one-day gain in over two years, after Saudi Arabia's powerful oil minister said OPEC would not cut production at any price.

Russia to bail out Trust Bank with up to $530 million

Breaking Business News - 4 hours 34 min ago
MOSCOW (Reuters) - Russian mid-sized lender Trust Bank is to receive up to 30 billion rubles ($530 million) from the central bank to stop it going bankrupt in the first bailout of its kind during the current rouble crisis.

American Apparel confirms takeover offer, sets new 'poison pill'

Breaking Business News - 4 hours 57 min ago
(Reuters) - Struggling American Apparel Inc, which fired controversial Chief Executive Dov Charney last week, said it was evaluating a proposed takeover and announced the appointment of a new head of the board, sending its shares up in early trade.

CNBC digital posts November high

Talking Biz News - 5 hours 10 min ago
CNBC’s digital operation posted its best month ever with 16.5 million unique visitors in October, up 46 percent compared to last year at this time, according to the October 2014 comScore Multi-platform Report US....

Ex-minister Kudrin warns of 'full-fledged crisis' in Russia

Breaking Business News - 5 hours 18 min ago
MOSCOW (Reuters) - Russia's government has pushed the country into an economic crisis by not tackling its financial problems fast enough, former finance minister Alexei Kudrin said on Monday, as evidence mounted of trouble spreading through the economy.

Coverage: The price of oil

Talking Biz News - 5 hours 26 min ago
As oil prices drop, it’s having different effects on various countries and the global economy. For those who produce oil, the decline in revenue is hurting investors’ willingness to put money into those countries...

GM gets 104 more claims for faulty ignition switch compensation

Breaking Business News - 5 hours 33 min ago
(Reuters) - General Motors Co has received 104 claims for compensation for ignition switch defects in its cars in the past week, bringing the total to 2,430, according to the official administering the compensation program.

Basel watchdog wants standardized assessment of banks' capital

Breaking Business News - 6 hours 38 min ago
LONDON (Reuters) - Global regulators have outlined measures to ensure capital held by banks does not fall below a certain level and to adopt a more consistent approach across the industry to measuring risk.

Thales CEO succession stalled as shareholders split: sources

Breaking Business News - 7 hours 56 sec ago
PARIS (Reuters) - Thales' top shareholders are at odds over its plan for a dual leadership structure that may change their influence at the French defense electronics maker, sources familiar with the matter said on Monday.

Saudi's Naimi says OPEC will not cut output however far oil falls: MEES

Breaking Business News - 7 hours 41 min ago
LONDON (Reuters) - Saudi Arabia convinced its fellow OPEC members that it is not in the group's interest to cut oil output however far prices may fall, the kingdom's oil minister Ali al-Naimi said in an interview with the Middle East Economic Survey (MEES).

UK to extend Libor manipulation laws to cover gold, oil, silver

Breaking Business News - 8 hours 41 min ago
LONDON (Reuters) - Britain will widen the scope of laws which make the manipulation of market benchmarks a criminal offense to include seven more rates covering the currency, gold, oil and silver markets by April 1, the government said on Monday.