Business

Wall Street opens flat, tech drags ahead of Fed

(Reuters) – U.S. stocks opened little changed on Wednesday as traders moved cautiously ahead of an expected Federal Reserve interest rate hike, while a drop in Facebook Inc’s (FB.O) shares on privacy concerns again weighed on the technology sector. Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., March ...

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Academic behind Facebook breach says political influence was exaggerated

LONDON (Reuters) – The consultancy at the heart of a storm over Facebook (FB.O) data greatly exaggerated its role in Donald Trump’s 2016 U.S. presidential victory and would not have been able to sway an election result, the academic who provided the data said. Facebook has been rocked this week by a whistleblower who said that Cambridge Analytica, a British-based ...

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Designed in California, made in China: how the iPhone skews U.S. trade deficit

SHANGHAI (Reuters) – U.S. President Donald Trump often tweets from his iPhone about pressuring China to address its $375 billion trade surplus with the United States. But a closer look at the Apple smartphone reveals how the headline figure is distorted. The new iPhone X is pictured at the Apple Store Marche Saint-Germain in Paris, France, November 3, 2017. REUTERS/Benoit ...

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Dropbox raises IPO price range by $2 on strong demand

(Reuters) – Cloud storage firm Dropbox Inc [DBX.O] on Wednesday raised the price range for its initial public offering by $2 as investors bid strongly for the first big tech IPO this year ahead of final pricing expected on Thursday. The DropBox logo is seen in this illustration photo July 28, 2017. REUTERS/Thomas White/Illustration The company now expects the offering ...

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EU proposes online turnover tax for big tech firms

BRUSSELS (Reuters) – The European Commission proposed rules on Wednesday to make digital companies pay their fair share of tax, with U.S. tech giants such as Google (GOOGL.O), Facebook (FB.O) and Amazon (AMZN.O) set to foot a large chunk of the bill. FILE PHOTO – The Google logo is seen at the “Station F” start up campus in Paris, France, ...

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General Mills’ sales rise 2.3 percent

(Reuters) – Cheerios cereal maker General Mills Inc’s (GIS.N) quarterly sales rose 2.3 percent, led by strong demand for snacks in North America. General Mills Inc’s Cheerios and Honey Nut Cheerios are displayed on the shelf of a Whole Foods Market store in Venice, California, U.S., March 17, 2018. Picture taken March 17, 2018. REUTERS/Lisa Baertlein Net income attributable to ...

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Bayer wins EU approval for $62.5 billion Monsanto buy

BRUSSELS (Reuters) – German conglomerate Bayer won EU antitrust approval on Wednesday for its $62.5 billion buy of U.S. peer Monsanto, the last of a trio of mega mergers that will reshape the agrochemicals industry. The logo of Bayer AG is pictured at the Bayer Healthcare subgroup production plant in Wuppertal, Germany February 24, 2014. REUTERS/Ina Fassbender/File Photo The tie-up ...

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Equities, dollar slip as Fed rate path jitters build

LONDON (Reuters) – World shares were flat on Wednesday and the dollar eased off three-week highs as investors marked time before a likely hike in U.S. interest rates and awaited guidance on how many more to expect for this year. FILE PHOTO: A man looks at an electronic stock quotation board outside a brokerage in Tokyo, Japan February 9, 2018. ...

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