Business news

• MetLife results hurt by weakness in U.S. retail unit, Latin America

  01-02-2017 23:37 via news.yahoo.com
  
  (Reuters) - Insurer MetLife Inc's fourth-quarter operating profit, which excludes a $3.2 billion derivative loss, fell short of analysts' estimates due to a drop in income in its U.S. retail unit and in Latin America. The largest U.S. life insurer counts on its derivatives program to hedge against risks such as volatile currency exchange rates, equities markets and interest rate changes. "While rising interest rates are good for MetLife's businesses, they reduced the carrying value of our deriva
  
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• Abercrombie & Fitch names merchandising head as CEO

  01-02-2017 23:36 via news.yahoo.com
  
  Horowitz replaces Michael Jeffries, who stepped down in 2014 after over two decades at the helm. The company suspended its search for a new head in 2015, while a team led by Executive Chairman Arthur Martinez managed day-to-day operations. Horowitz moved from the company's Hollister brand to take on the newly created role of chief merchandising officer in late 2015, as Abercrombie sought to make its apparel more attractive to teens.
  
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• JPMorgan to pay Lehman $797.5 million to end litigation over collapse

  01-02-2017 23:31 via news.yahoo.com
  
  JPMorgan Chase & Co will pay $797.5 million in cash to end all litigation brought on behalf the former Lehman Brothers Holdings Inc, whose September 2008 collapse triggered a global financial crisis. The settlement made public on Wednesday requires approval by U.S. Bankruptcy Judge Shelley Chapman in Manhattan. It follows JPMorgan's agreement last January to pay $1.42 billion in cash to resolve most other claims, in what had been an $8.6 billion lawsuit against the largest U.S. bank to recou
  
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• U.S. jury issues $500 million verdict in Facebook virtual reality lawsuit

  01-02-2017 23:24 via news.yahoo.com
  
  A U.S. jury in Texas on Wednesday ordered Facebook Inc, its virtual reality unit Oculus, and other defendants to pay a combined $500 million to ZeniMax Media Inc, a video game publisher that says Oculus stole its technology. The jury in federal court in Dallas found Oculus, which Facebook acquired for about $2 billion in 2014, used ZeniMax’s computer code to launch the Rift virtual-reality headset. ZeniMax alleges that video game designer John Carmack developed core parts of the
  
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• JPMorgan changes chief of high-profile card business

  01-02-2017 23:17 via news.yahoo.com
  
  NEW YORK (Reuters) - JPMorgan Chase & Co said on Wednesday that Jennifer Piepszak will become chief executive of its card services division, replacing Kevin Watters.
  
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• Facebook's quarterly profit, revenue beat estimates

  01-02-2017 23:04 via cbc.ca
  
  Facebook Inc. reported higher-than-expected quarterly profit and revenue as the world's largest social network continues to benefit from its aggressive push into mobiles and video.
  
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• As private lawyer, Trump high court pick was friend to business

  01-02-2017 23:02 via news.yahoo.com
  
  As a lawyer in private practice for a decade, President Donald Trump's U.S. Supreme Court nominee Neil Gorsuch often fought on behalf of business interests, including efforts to curb securities class action lawsuits, experience that could mould his thinking if he is confirmed as a justice. Gorsuch, a conservative federal appeals court judge from Colorado nominated by wealthy businessman Trump on Tuesday, could turn out to be a friend to business, having represented the U.S. Chamber of Commerce i
  
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• S&P 500 ends flat, Apple spike lifts Nasdaq

  01-02-2017 22:58 via news.yahoo.com
  
  The S&P 500 edged higher on Wednesday to cap a four-day losing streak, buoyed by gains in Apple shares and after the Federal Reserve kept U.S. interest rates unchanged, as expected. Apple shares rose 6.1 percent to $128.75, its highest close in a year and a half. This made it the biggest positive influence on the three major indexes, which would have all ended in the red for the day without Apple's boost.
  
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• Verizon buys XO for $1.8B to boost its 5G wireless gigabit plans

  01-02-2017 22:11 via techrepublic.com
  
  Verizon recently completed its purchase of XO Communications' fiber-optic network business, setting the stage for its expansion into 5G technologies and boosting network density.
  
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• Fed leaves interest rates unchanged, remains upbeat on economy

  01-02-2017 22:11 via news.yahoo.com
  
  By Lindsay Dunsmuir and Jason Lange WASHINGTON (Reuters) - The Federal Reserve held interest rates steady on Wednesday in its first meeting since President Donald Trump took office, but painted a relatively upbeat picture of the U.S. economy that suggested it was on track to tighten monetary policy this year. Fed policymakers are still awaiting clarity on the possible impact of Trump's economic policies. "Measures of consumer and business sentiment have improved of late," the Fed said in a unani
  
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• How to configure Ubuntu Linux server as a Domain Controller with samba-tool

  01-02-2017 22:10 via techrepublic.com
  
  If you'd like to set up a domain controller on the cheap, Samba makes this possible. Here's how.
  
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• One of these 10 municipalities may be the next smartest city in the US

  01-02-2017 21:43 via techrepublic.com
  
  The 10 finalists have been announced for a smart city grant program, and five will receive workshops to help them pursue their goals toward becoming smarter.
  
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• Video: Top 5 ways to back up your data

  01-02-2017 21:42 via techrepublic.com
  
  Use these five backup methods before disaster strikes. One day, you might be glad you did.
  
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• Waymo's self-driving cars improve performance in California tests

  01-02-2017 21:24 via news.yahoo.com
  
  Alphabet Inc's Waymo said its fleet of self-driving vehicles logged more than 600,000 miles last year on public roads in California, while rival Tesla Inc reported operating autonomous vehicles for just 550 miles on public roads since last October, according to reports released on Wednesday by the state's Department of Motor Vehicles. California requires auto companies and suppliers who test their self-driving vehicles on public roads to provide an annual compilation of miles traveled in autonom
  
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• S&P 500 down for fifth session, Apple spike lifts Nasdaq

  01-02-2017 21:13 via news.yahoo.com
  
  The S&P 500 moved in and out of negative territory on Wednesday, buoyed by gains in Apple shares and after the U.S. Federal Reserve kept interest rates unchanged, while painting a relatively upbeat picture of the U.S. economy. Apple shares rose 7.4 percent to $130.31 after touching $130.35, its highest in 18 months. The advance made it the biggest positive influence on the three major indexes, which would all be negative for the day without Apple's boost.
  
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• Does your company value employees? Why tech leaders should ask this question

  01-02-2017 20:47 via techrepublic.com
  
  Valuing employees sounds good on a company mission statement, but too often, it ends there.
  
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• U.S. factory, private payrolls data point to firming economy

  01-02-2017 20:43 via news.yahoo.com
  
  U.S. factory activity accelerated to more than a two-year high in January amid sustained gains in new orders and raw material costs, pointing to a recovery in manufacturing as domestic demand strengthens and the drag from low oil prices ebbs. While construction spending slipped in December, the underlying trend remained strong. The signs of strength in the economy at the start of the year were acknowledged by the Federal Reserve's policy-setting committee.
  
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• Fed holds interest rates steady, remains upbeat on economy

  01-02-2017 20:27 via news.yahoo.com
  
  The Federal Reserve kept interest rates unchanged on Wednesday in its first meeting since President Donald Trump took office, but painted a relatively upbeat picture of the U.S. economy that suggested it was on track to tighten monetary policy this year. "Measures of consumer and business sentiment have improved of late," the Fed said in a unanimous statement following a two-day policy meeting in which it left its benchmark interest rate in a range of 0.50 percent to 0.75 percent. Fed policymake
  
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• Amid uncertainty over Trump, U.S. Federal Reserve leaves key rate unchanged

  01-02-2017 20:05 via cbc.ca
  
  The U.S. Federal Reserve has left its key interest rate unchanged at a time of solid economic gains but also heightened uncertainty surrounding the new Trump administration.
  
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• Mexican president polls businesses to ask what they'd like in any NAFTA rewrite

  01-02-2017 19:37 via cbc.ca
  
  The Mexican government said Wednesday it will open a 90-day consultation period with private business groups about possible changes to the North American Free Trade Agreement.
  
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• 23 principles for beneficial AI: Tech leaders establish new guidelines

  01-02-2017 19:32 via techrepublic.com
  
  Tesla CEO Elon Musk, DeepMind founder Demis Hassabis, and nearly 1,000 other leaders in AI just signed guidelines for developing safe AI. Here's are the highlights, and what it means.
  
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• 6 ways IoT will change project management

  01-02-2017 19:04 via techrepublic.com
  
  IoT won't change the fundamentals of project management, but it will change a few day-to-day issues.
  
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• U.S. car, truck sales downshift in January; Toyota falls 11 percent

  01-02-2017 18:52 via news.yahoo.com
  
  DETROIT (Reuters) - The pace of U.S. car and light truck sales downshifted modestly in January as automakers pulled back on bulk sales to rental, government and business fleets and concentrated on more profitable retail sales to individual consumers.
  
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• How to decide if you should stick with Hangouts or switch to the new Google Voice

  01-02-2017 17:49 via techrepublic.com
  
  The new Google Voice looks better and is easier to use. But if you rely on Google Voice in Hangouts should you switch?
  
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• New York sues Charter, alleges Time Warner fraud on internet speeds

  01-02-2017 17:45 via news.yahoo.com
  
  New York filed a lawsuit on Wednesday accusing Charter Communications Inc of short-changing customers who were promised faster internet speeds than it could deliver. The lawsuit in State Supreme Court in Manhattan accused Charter's Spectrum unit, until recently known as Time Warner Cable, of systematically defrauding customers since 2012 by promising and charging for services it knew it could not offer. In a press conference, New York Attorney General Eric Schneiderman said his office filed the
  
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• Turning to the internet to find customer support numbers? Be wary, especially for Facebook

  01-02-2017 17:37 via techrepublic.com
  
  It makes sense to search Google for customer support numbers: They're hard to find on a website. Scammers are hoping you do just that, and they're manipulating results to put themselves at the top.
  
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• Wall St. pares gains as energy, utilities drag

  01-02-2017 17:33 via news.yahoo.com
  
  (Reuters) - The S&P 500 slipped into the red and the Dow pared gains in late morning trade on Wednesday, led by losses in energy and utilities sectors, ahead of the Federal Reserve's decision on interest rates.
  
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• Anthem considering role in Obamacare insurance in 2018

  01-02-2017 17:27 via news.yahoo.com
  
  Individual insurance created by former U.S. president Barack Obama's health reform law, often called Obamacare, has been a difficult business for Anthem and other large insurers, which say the enrollment rules skew the pool of patients toward those who are sick. U.S. President Donald Trump has vowed to repeal and replace the program, and his fellow Republicans have begun the process. Insurers, which had been seeking changes from Democrats under Obama, are now talking to Republicans.
  
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• U.S. takes steps to review Dakota Access pipeline

  01-02-2017 17:22 via cbc.ca
  The U.S. Army Corps of Engineers on Wednesday said it had taken initial steps to review requests to approve the final permit to finish the controversial Dakota Access pipeline, which has been the focus of protests for months.
  
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• U.S. appeals court revives JPMorgan silver futures rigging lawsuits

  01-02-2017 17:17 via news.yahoo.com
  
  A U.S. appeals court on Wednesday revived three private antitrust lawsuits accusing JPMorgan Chase & Co of rigging a market for silver futures contracts traded on COMEX. The 2nd U.S. Circuit Court of Appeals in New York said a lower court judge held hedge fund manager Daniel Shak and two other traders to an excessively high legal standard when deciding last June 29 to dismiss their complaints.
  
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• How to improve VirtualBox guest performance in five steps

  01-02-2017 17:06 via techrepublic.com
  
  If your VirtualBox virtual machines are lagging in performance, check out these five tips.
  
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• U.S. factory activity hits two-year high; private payrolls surge

  01-02-2017 16:50 via news.yahoo.com
  
  By Lucia Mutikani WASHINGTON (Reuters) - U.S. factory activity accelerated to more than a two-year high in January amid sustained increases in new orders and raw material costs, pointing to a recovery in manufacturing as domestic demand strengthens and the drag from low oil prices ebbs. Other data on Wednesday showed private employers boosted hiring last month. While construction spending slipped in December, the underlying trend remained strong.
  
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• Volkswagen buyback costs expand by $1.2B to settle larger engine diesel claims

  01-02-2017 16:45 via cbc.ca
  
  Volkswagen has agreed to pay at least another $1.2 billion US in buybacks and compensation to settle claims from U.S. owners of cars with larger diesel engines that the company rigged to cheat on emissions tests.
  
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• Arconic CEO defends performance as Elliott ramps up pressure

  01-02-2017 16:31 via news.yahoo.com
  
  NEW YORK (Reuters) - Arconic Inc Chief Executive Officer Klaus Kleinfeld, under pressure from hedge fund Elliott Management, on Wednesday defended the metal maker's performance since spinning off from aluminum producer Alcoa Corp AA.N>.
  
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• GM posts U.S. sales drop in January, Ford beats view as trucks roar

  01-02-2017 16:28 via news.yahoo.com
  
  DETROIT (Reuters) - Automakers reported mixed U.S. auto sales for January, with General Motors Co posting a 3.8 percent decline while crosstown rival Ford Motor Co topped analysts forecasts on strong truck sales.
  
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• Strong iPhone 7 sales 'a bridge' to Apple's next upgrade

  01-02-2017 16:20 via news.yahoo.com
  
  By Supantha Mukherjee and Rishika Sadam (Reuters) - "Things don't have to change the world to be important," Apple Inc co-founder Steve Jobs said in an interview in 1996. This has only built expectations, however, that the 10th-anniversary iPhone will need to offer revolutionary new features if it is to trigger a substantial uptick in sales. "This is really the last (quarter) that anybody is going to care about iPhone until the launch this fall," Cowen & Co analysts wrote in a note.
  
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• Smart parking, smart lighting, fleet management at heart of Nokia's IoT platform update

  01-02-2017 16:10 via techrepublic.com
  
  The enterprise can manage disparate IoT devices and applications in vertical domains with the horizontal IMPACT platform from Nokia.
  
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• Experts explain why microservices are overhyped

  01-02-2017 16:06 via techrepublic.com
  
  Microservices look good on paper, but in reality complex nano software requires expensive developers, is hard to implement, and might increase overhead for SMBs.
  
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• Tesla drops 'Motors' from name as CEO Musk looks beyond cars

  01-02-2017 16:05 via news.yahoo.com
  
  (Reuters) - Tesla Motors Inc changed its name to "Tesla Inc" as Chief Executive Elon Musk looks to transform the Silicon Valley firm from an electric car maker to a diversified energy products company.
  
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• Wall St higher as Apple powers tech rally; Fed in focus

  01-02-2017 15:58 via news.yahoo.com
  
  Apple's shares were up 5.1 percent at $127.40 after the company's earnings and iPhone sales blew past expectations in the latest quarter. "With a bellwether company such as Apple reporting an encouraging set of numbers, it has brought the focus of investors back on company fundamentals," said Andre Bakhos, managing director at Janlyn Capital in Bernardsville, New Jersey.
  
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• Budweiser Super Bowl ad takes direct aim at current anti-immigrant furor

  01-02-2017 15:32 via cbc.ca
  
  This year's Budweiser ad released Tuesday featuring an immigrant's travel to the U.S. became suddenly more topical than Anheuser-Busch executives were probably expecting, released days after President Donald Trump's executive order Friday temporarily banning refugees and nearly all citizens from seven Muslim-majority countries.
  
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• Budweiser Super Bowl ad takes accidental aim at current anti-immigrant furor

  01-02-2017 15:32 via cbc.ca
  
  U.S. brewer Anheuser-Busch has found itself in an accidental scandal this week after its long-planned Super Bowl ad with a pro-immigration story has been perceived to be an attack on the new U.S. president's policies.
  
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• Google brings Webpass to 6 metros, proves Fiber might not be dying after all

  01-02-2017 15:16 via techrepublic.com
  
  Google recently announced that it was supporting wireless internet through Webpass in six metro areas, possibly signaling a shift in the company's gigabit business strategy.
  
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• New York attorney general sues Charter over internet speeds

  01-02-2017 14:59 via news.yahoo.com
  
  New York Attorney General Eric Schneiderman filed a lawsuit on Wednesday that accuses Charter Communications Inc's Spectrum cable unit of short-changing customers on internet speeds. The lawsuit, filed in State Supreme Court in Manhattan, accuses Spectrum of systematically defrauding and misleading internet service subscribers by promising service it knew it could not deliver. Online content that Spectrum could not deliver to customers included Netflix, Facebook and gaming platforms, according t
  
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• IPhone Sales Bolster Apple's Revenue, Shares Rise

  01-02-2017 14:54 via feeds.foxbusiness.com
  
  Apple said demand for its iPhone 7 helped deliver record revenue, ending three consecutive quarters of declines.
  
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• VW, Robert Bosch agree to pay $1.55 billion to settle U.S. diesel claims

  01-02-2017 14:41 via news.yahoo.com
  
  By David Shepardson WASHINGTON (Reuters) - Volkswagen AG has agreed to pay at least $1.22 billion to fix or buy back nearly 80,000 polluting U.S. 3.0 liter diesel-engine vehicles to settle claims it fitted illegal emissions-cheating software to the cars, court documents showed. German auto supplier Robert Bosch GmbH [ROBG.UL] also agreed to pay $327.5 million to U.S. diesel VW owners, according to the documents filed late Tuesday. Volkswagen could be forced to pay up to $4.04 billion if regulato
  
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• U.S. private sector adds 246,000 jobs in January, topping estimates: ADP

  01-02-2017 14:24 via news.yahoo.com
  
  Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 165,000 jobs, with estimates ranging from 140,000 to 200,000. The ADP figures come ahead of the U.S. Labor Department's more comprehensive non-farm payrolls report on Friday, which includes both public and private-sector employment. Economists polled by Reuters are looking for U.S. private payroll employment to have grown by 169,000 jobs in January, up from 144,000 the month before.
  
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• U.S. Private Sector Adds 246,000 Jobs in January, Topping Estimates

  01-02-2017 14:21 via feeds.foxbusiness.com
  
  U.S. private employers added 246,000 jobs in January, above economists' expectations, a report by a payrolls processor showed on Wednesday.
  
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• 3 Benefits of Retiring Later in Life

  01-02-2017 14:18 via feeds.foxbusiness.com
  
  There are benefits to retiring later in life. Working a few extra years could wind up being the best decision you'll ever make.
  
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• What to Expect When Royal Gold Reports Earnings on February 3rd

  01-02-2017 14:07 via feeds.foxbusiness.com
  
  Look under the headlines when Royal Gold reports fiscal second-quarter results -- here's why.
  
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