Finance news

• U.S. approval of AT&T-DirecTV deal expected as soon as next week: sources

  30-06-2015 23:51
  
  WASHINGTON (Reuters) - AT&T Inc'sproposed $48.5 billion acquisition of DirecTVis expected to get U.S. regulatory approval as soon as next week, according to people familiar with the matter, a...
  
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• Xiaomi takes first big step outside Asia with Brazil smartphone

  30-06-2015 23:48 via news.yahoo.com
  
  By Brad Haynes SAO PAULO (Reuters) - Chinese smartphone maker Xiaomi has started making devices in Brazil for sale locally, promising to dramatically undercut rivals on price in the first big step beyond Asia for the world's most valuable technology start-up. Xiaomi's global vice-president, Hugo Barra, said in an interview on Tuesday that Brazil was "stage one of our Latin America launch," pointing to Mexico and Colombia as logical next steps in the region, although he declin
  
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• U.S. bankruptcy judge pushes debt relief for Corinthian students

  30-06-2015 23:24
  WILMINGTON, Del., June 30 (Reuters) - The U.S. government and former students of Corinthian Colleges, which closed in April, need to promote the government's loan relief program before asking for a...
  
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• UPDATE 1-Puerto Rico to make July 1 general obligation debt payment -source

  30-06-2015 23:23
  NEW YORK, June 30 (Reuters) - Puerto Rico will make a July 1 coupon payment of $645.2 million on its general obligation debt, a person familiar with the matter said on Tuesday.
  
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• Alberta says last year's budget surplus bigger than expected

  30-06-2015 23:22
  CALGARY, Alberta, June 30 (Reuters) - The Canadian province of Alberta said on Tuesday its budget surplus for the last fiscal year was nearly C$350 million ($280.2 million) bigger than forecast even...
  
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• Puerto Rico's PREPA, creditors close to deal to avoid default -sources

  30-06-2015 23:19
  NEW YORK, June 30 (Reuters) - Puerto Rico's struggling utility PREPA and its creditors are close to a deal to avoid a possible default on a bond payment of around $400 million due Wednesday, sources...
  
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• Virgin Atlantic to cut 500 jobs - WSJ

  30-06-2015 23:14 via news.yahoo.com
  
  (Reuters) - Virgin Atlantic Airways Ltd [VA.UL], owned by its British billionaire founder Richard Branson, is cutting about 500 jobs as it seeks to reduce costs and improve its financial resilience, the Wall Street Journal reported.
  
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• US stocks edge higher as investors follow Greek debt talks

  30-06-2015 23:04 via news.yahoo.com
  
  NEW YORK (AP) — The U.S. stock market stabilized on Tuesday as investors followed the latest developments in the Greek debt saga.
  
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• Hong Kong expects large pro-democracy rally as it marks 1997 handover

  30-06-2015 23:04 via news.yahoo.com
  
  Some seven months after Hong Kong police forcibly cleared pro-democracy street protesters from the streets, tens of thousands of people are expected to rally for free elections on Wednesday as the city marks the 18th anniversary of its return to China. A morning flag-raising ceremony will be attended by China's most senior official in Hong Kong, Zhang Xiaoming, who said this week the city should shift its focus from political reform and concentrate instead on economic development. Thousands
  
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• UPDATE 2-Tiger's Robertson says 'extremely positive' on Apple -CNBC

  30-06-2015 23:01
  NEW YORK, June 30 (Reuters) - Julian Robertson, head of hedge fund Tiger Management, said Tuesday that he was "extremely positive" about Apple Inc and that Chief Executive Officer Tim Cook was the...
  
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• UPDATE 1-Fitch downgrades Greece's rating as default looms

  30-06-2015 22:59
  June 30 (Reuters) - Fitch cut its long-term rating on Greece to 'CC' from 'CCC' amid turmoil over the country's debt negotiations, that have led to fears that the country could make an exit from the...
  
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• Stocks tick up, Greece keeps trading volatile; euro off

  30-06-2015 22:56 via news.yahoo.com
  
  Stocks ended slightly higher on Wall Street in volatile trade on Tuesday and a global equities gauge was flat, while the euro fell as Greece grappled with a looming deadline on a debt payment to the IMF. Markets held on to some chance of resolution even as German Chancellor Angela Merkel played down any hopes of a last-minute deal with Greece and said there will be no new negotiations before a vote planned for Sunday.
  
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• Virgin Atlantic to cut 500 jobs: WSJ report

  30-06-2015 22:54 via news.yahoo.com
  
  (Reuters) - Virgin Atlantic Airways Ltd , owned by its British billionaire founder Richard Branson, is cutting about 500 jobs as it seeks to reduce costs and improve its financial resilience, the Wall Street Journal reported.
  
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• GLOBAL MARKETS-Stocks tick up, Greece keeps trading volatile; euro off

  30-06-2015 22:53
  * Wall St ticks up in choppy trade, S&P ends negative for quarter
  
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• Xiaomi take first big step outside China with Brazil smartphone

  30-06-2015 22:32 via news.yahoo.com
  
  By Brad Haynes SAO PAULO (Reuters) - Chinese smartphone maker Xiaomi has started making devices in Brazil for sale locally, promising to dramatically undercut rivals on price in the first big step beyond Asia for the world's most valuable technology start-up. Xiaomi's global vice-president, Hugo Barra, said at a launch event on Tuesday that the entry-level Redmi 2 smartphone would go on sale in Brazil next week for 499 reais ($160). Without traditional advertising or stores, China'
  
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• Portugal gets 3 binding offers for state-rescued Novo Banco

  30-06-2015 21:19
  LISBON, June 30 (Reuters) - Three bidders have submitted
  binding offers for Novo Banco, the successor to Banco Espirito
  Santo after a state rescue last year, the Bank of Portugal said
  on Tuesday,...
  
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• Fearing euro exit, thousands of Greeks rally for 'Yes' vote

  30-06-2015 21:11 via news.yahoo.com
  
  By Deepa Babington ATHENS (Reuters) - Thousands of Greeks worried about the prospect of crashing out of Europe's currency union rallied in Athens on Tuesday behind a "Yes" vote in a referendum on whether to accept tough terms demanded by creditors to keep the country afloat. Tsipras called a referendum on the creditors' offer for July 5, and has told Greeks to vote 'no'. While many Greeks believe the creditors' demand of tax hikes and pension cuts would harm a
  
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• China's big ambitions stumble at Bahamas resort

  30-06-2015 21:02
  Nassau, Bahamas/Beijing June 30 (Reuters) - China's push to
  extend its influence in the Western Hemisphere has hit an
  embarrassing setback at an unfinished, $3.5 billion resort and
  casino project in...
  
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• White House says U.S. welcomes China's climate change plan

  30-06-2015 21:00 via news.yahoo.com
  
  WASHINGTON (Reuters) - The White House on Tuesday welcomed China's announced commitment to halt the rise in its greenhouse gas emissions and reduce the carbon intensity of its economy. President Barack Obama's senior adviser, Brian Deese, said in a statement that the move would pave the way for "a successful climate agreement" at international talks in Paris later this year. [ID:nL8N0ZG2SN} (Reporting by Jeff Mason and Roberta Rampton; Editing by Sandra Maler)
  
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• U.S., Iran presidents issue warnings as nuclear talks extended

  30-06-2015 20:50 via news.yahoo.com
  
  By Parisa Hafezi and John Irish VIENNA (Reuters) - Iran and world powers gave themselves an extra week to reach a nuclear accord, extending a deadline due to expire on Tuesday, while U.S. President Barack Obama said there would be no deal if all pathways to an Iranian nuclear weapon were not cut off. With talks in the final stretch, Iran's president Hassan Rouhani also spoke out, saying his country would resume suspended atomic work if the West breaks its promises. Iran and six world powers
  
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• BNP Paribas must pay investors $16.6 million in arbitration: panel

  30-06-2015 20:33
  
  (Reuters) - A BNP Paribas SA unit must pay $16.6 million to a London-based couple in a dispute stemming from an investment product that is typically sold to hedge funds and institutional clients, a...
  
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• Stocks' bounce fizzles, euro falls as Greek deadline looms

  30-06-2015 20:27 via news.yahoo.com
  
  By Rodrigo Campos NEW YORK (Reuters) - Stocks on Wall Street rose in choppy trade on Tuesday and a global equities gauge ticked up, while the euro remained under pressure as Greece grappled with a looming deadline on a debt payment to the IMF.
  
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• U.S. economy nearing full employment, bounced back in second quarter: Fed's Fischer

  30-06-2015 20:15 via news.yahoo.com
  
  The U.S. economy probably bounced back to an annual growth rate of around 2.5 percent in the second quarter, and the labor market is approaching full employment, Federal Reserve vice chairman Stanley Fischer said on Tuesday. Speaking at a meeting of African central bankers at Oxford University in England, Fischer did not directly address the timing of an initial Fed rate hike that is widely expected this year, perhaps as early as September.
  
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• Obama says Greece won't be 'major shock' to U.S. financial system

  30-06-2015 20:14 via news.yahoo.com
  
  President Barack Obama said on Tuesday the financial crisis in Greece should not create a major shock for the U.S. economy, but warned that its fallout could dampen global growth and encouraged both sides to reach a deal. "In layman's terms for the American people, this is not something that we believe will have a major shock to the system," Obama said during a news conference with Brazilian President Dilma Rousseff at the White House. If a deal is not reached between Greece and its creditors in
  
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• Obama, Rousseff turn page on spy spat, work on trade, travel

  30-06-2015 20:10 via news.yahoo.com
  
  By Roberta Rampton and Idrees Ali WASHINGTON (Reuters) - President Barack Obama and Brazilian President Dilma Rousseff used a White House visit on Tuesday to turn the page on a spying scandal that had damaged bilateral relations and said they want to work to bolster economic ties. During an hour-long press conference, Rousseff said "things have changed" since October 2013, when she canceled an official state visit after revelations from former National Security Agency contractor Edward
  
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• Major Puerto Rico investor warns it stands ready to defend bonds

  30-06-2015 20:08 via news.yahoo.com
  
  U.S. fund manager OppenheimerFunds, the largest holder of Puerto Rico debt among U.S. municipal bond funds, warned the island it stands ready to defend the terms of bonds it holds, a day after the governor said he wanted to restructure debt and postpone bond payments. Puerto Rico's Governor Alejandro Garcia Padilla could be heading toward a fight with creditors unwilling to take reduced payouts as he tries to restructure the island's $73 billion debt to relieve its fiscal problems. Opp
  
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• U.S. stocks bounce, euro falls as Greek deadline looms

  30-06-2015 20:03 via news.yahoo.com
  
  By Rodrigo Campos NEW YORK (Reuters) - Stocks on Wall Street rose in choppy trade on Tuesday and a global equities gauge ticked up, while the euro remained under pressure as Greece grappled with a looming deadline on a debt payment to the IMF.
  
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• UPDATE 2-Peltz takes stake in Pentair, asks company to bulk up

  30-06-2015 20:01
  * Trian takes 7.2 pct stake; is Pentair's 3rd-biggest shareholder
  
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• Goldman settles SEC charges over 2013 options trading incident

  30-06-2015 20:01 via news.yahoo.com
  
  (Reuters) - Goldman Sachs Group Inc will pay $7 million to resolve U.S. Securities and Exchange Commission charges stemming from a trading incident in which the Wall Street bank flooded the stock options market with erroneous orders. The SEC said Goldman sent about 16,000 mispriced options orders to various exchanges on Aug. 20, 2013, leading to about 1.5 million options contracts, representing 150 million shares, being executed within minutes after the market opened. By lacking proper safeguard
  
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• Greece's last-ditch letter to Eurogroup makes no concessions

  30-06-2015 20:00 via news.yahoo.com
  
  A last-minute bid by Greece for an extension of its international bailout and a two-year funding and debt restructuring program offers no concessions to creditors' demands for economic reforms, the text seen by Reuters shows. The one-page letter from Greek Prime Minister Alexis Tsipras to the chairman of the Eurogroup of finance ministers of the euro zone says Greece is "fully committed to service its external debt in a manner that secures the viability of the Greek economy, growth and social co
  
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• CORRECTED: Wall Street trims gains as Greece debt default looms

  30-06-2015 19:39 via news.yahoo.com
  
  The Dow Jones Industrial Average and the S&P 500 were up about 0.4 percent on the last day of the second quarter, nearly halving early gains. Until there is clarity on Greece, the market will continue to see increased volatility, said Anthony Conroy, who has previouly worked as head trader for ConvergEx in New York. The CBOE Volatility index, a measure of the premium traders are willing to pay for protection against a drop in the S&P 500, was slightly down at 18.81.
  
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• UPDATE 2-Auto parts retailer Pep Boys considers selling itself

  30-06-2015 19:30
  * Shares rise as much as 4 pct to one-year high (Adds analyst comment, details, background)
  
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• London close: Last-minute Greek proposal fails to lift stocks, FTSE plunges 1.5%

  30-06-2015 19:25 via news.yahoo.com
  
  A last-minute request from Greek prime minister Alexis Tsipras for a new bailout programme failed to inspire gains on London's stock market as the heavyweight mining sector bore the brunt of a reduction ...
  
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• Obama: Greece crisis could hit EU growth but no 'major shock'

  30-06-2015 19:21 via news.yahoo.com
  
  Washington (AFP) - US President Barack Obama warned Tuesday the unfolding Greek financial crisis could have a "significant effect" on European growth and "dampen" world economic expansion.
  
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• Goldman settles SEC charges it violated market access rule

  30-06-2015 19:08 via news.yahoo.com
  
  REUTERS - Goldman Sachs Group Inc will pay $7 million to resolve U.S. Securities and Exchange Commission charges stemming from an August 2013 trading incident that resulted in the erroneous executions of options contracts and disrupted markets. The Wall Street bank did not admit or deny wrongdoing, according to the SEC, which announced the settlement on Tuesday. (Reporting by Jonathan Stempel in New York; Editing by Chizu Nomiyama)
  
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• California tribe eyes bid for gun maker Colt

  30-06-2015 19:02 via news.yahoo.com
  
  "Colt is an iconic business and we're sort of intensely interested in helping a business like that," Drew Ryce, attorney for the Morongo Band of Mission Indians, told Reuters on Tuesday. "Colt is the Gun that Won the West. Ryce said the Banning, California-based tribe was looking to diversify its economy and an East Coast manufacturer would balance the tribe's focus on retail, gambling and hospitality in Southern California.
  
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• U.S. consumer confidence rises; manufacturing still soft

  30-06-2015 18:57 via news.yahoo.com
  
  U.S. consumer confidence increased solidly in June, with households upbeat about the labor market, supporting views the economy was back on firmer footing after wobbling at the start of the year. The rise in confidence came despite moderate increases in gasoline prices. The Conference Board said its index of consumer attitudes rose to a reading of 101.4 this month from 94.6 in May. The survey showed households growing more bullish about the jobs market.
  
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• Moody's raises Iceland's credit rating

  30-06-2015 18:53 via news.yahoo.com
  
  Rating agency Moody's has raised Iceland's credit rating by a notch to Baa2, the government said in a statement on Tuesday after its decision to lift capital controls was welcomed. "The gradual removal of the capital controls and the reduction of the external and economic vulnerabilities posed by the failed banks' estates constitute a significant milestone in Iceland's recovery and represent important upside risks for future growth, public debt reduction and normalizatio
  
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• Illinois governor not budging from reforms as budget deadline nears

  30-06-2015 18:53 via news.yahoo.com
  
  A fiscal 2016 budget for Illinois remained in limbo on Tuesday as Governor Bruce Rauner and Democratic legislative leaders remained at odds over his so-called turnaround agenda of reforms. "In the meantime, we're going to manage the government without a budget, try to minimize the disruption to the people of Illinois and we're committed to working hard to make sure the men and women that serve the government are paid their full salaries on time," Rauner told reporters in the state capital of Spr
  
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• European stock markets slump as Greek default nears

  30-06-2015 18:44 via news.yahoo.com
  
  Europe's main stock markets ended the day firmly lower Tuesday as hopes faded of a last-minute deal to stave off Greece defaulting on its payment to the International Monetary Fund. The CAC 40 in Paris ended down 1.63 percent to 4,790.20 points and Frankfurt's DAX 30 lost 1.25 percent to 10,944.97 points.
  
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• Nigeria's Buhari may not appoint ministers until September

  30-06-2015 18:39 via news.yahoo.com
  
  By Felix Onuah ABUJA (Reuters) - Nigerian President Muhammadu Buhari may not name a cabinet until September as he takes time to find credible ministers and build a government untainted by the corruption of the past, a senior official and party sources said. Buhari swept to power in March on an anti-graft ticket and was sworn in on May 29 but critics are starting to ask why ministers for Africa's biggest economy have yet to be unveiled a month after he came into power. "It will take the
  
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• UK shares fall to 5-1/2 month low, supermarkets sink

  30-06-2015 18:20
  * Standard Life slips after downgrade from RBC (Updates to add closing prices, comment)
  
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• Wall Street trims gains as Greece debt default looms

  30-06-2015 18:15 via news.yahoo.com
  
  The Dow Jones Industrial Average and the S&P 500 were up about 0.4 percent on the last day of the second quarter, nearly halving early gains. McDonald's was the biggest drag on the Dow with a 0.3 percent decline.
  
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• Obama, Rousseff agree to improve trade, travel

  30-06-2015 18:09 via news.yahoo.com
  
  By Roberta Rampton and Idrees Ali WASHINGTON (Reuters) - President Barack Obama and Brazilian President Dilma Rousseff met at the White House on Tuesday, a visit aimed at bolstering economic ties and turning the page on a spying scandal. The presidents agreed to a series of steps to make it easier for people and goods to move between the two countries, including reopening fresh beef trade, the White House said in a statement. Rousseff originally had accepted Obama's invitation for a formal
  
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• Iran, powers give themselves to July 7 to strike deal

  30-06-2015 18:06 via news.yahoo.com
  
  By Parisa Hafezi and John Irish VIENNA (Reuters) - Iran and six world powers gave themselves an extra week to reach a final nuclear accord after it became clear they would miss a deadline on Tuesday, with U.S. and Iranian officials sounding upbeat even though obstacles remain. With all sides accepting that Tuesday's original deadline would come and go without an agreement, Iran and the six powers agreed to extend an interim accord until July 7 in order to have more time to negotiate a compr
  
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• European stock markets mixed despite nearing Greek default

  30-06-2015 17:39 via news.yahoo.com
  
  Europe's main stock markets were mixed Tuesday despite confirmation by Greece it would not make a debt payment due to the International Monetary Fund, placing it on course to default. In Paris the CAC 40 edged up 0.02 percent to 4,868.52 points compared with Monday's close, while Madrid's IBEX 35 was up 0.51 percent and Milan's FTSE Mib increased 1.02 percent. Activity across European markets followed a jittery session Monday, when the Frankfurt and Paris indices both closed
  
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• Markets on tenterhooks as Greek deadline looms

  30-06-2015 17:22 via news.yahoo.com
  
  Stocks on Wall Street edged up on Tuesday to keep a global equities gauge higher despite declines in Europe, while the euro remained under pressure as Greece grappled with a looming deadline on a debt repayment to the IMF.
  
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• Owner of IndiGo, India's biggest airline, files for IPO

  30-06-2015 16:56 via news.yahoo.com
  
  InterGlobe Aviation Ltd, which owns the country's biggest airline IndiGo, on Tuesday filed a draft prospectus for an initial public offering (IPO) to list on the domestic stock market and cash in on a booming air travel market. InterGlobe Aviation said in a statement the IPO would include a sale of up to 12.7 billion rupees ($199.64 million) of new shares, and the sale of up to 30.15 million of existing shares.
  
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• Decline in Canada April economic growth puts second quarter growth at risk

  30-06-2015 16:41 via news.yahoo.com
  
  By Leah Schnurr OTTAWA (Reuters) - The Canadian economy unexpectedly shrank in April, hurt by weakness in the mining and oil and gas industries, a setback that bodes poorly for a second-quarter pick-up in growth that the Bank of Canada is looking for. Gross domestic product fell 0.1 percent from March, Statistics Canada said on Tuesday, short of analysts' expectations for a gain of 0.1 percent. While economists cautioned that it is still early, the figures raised the risk that the second qu
  
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• Turning science play into money knowledge for girls

  30-06-2015 16:23
  
  NEW YORK (Reuters) - Pink Legos not being quite enough, a slew of start-ups, many of them founded by women, are attempting to motivate girls into lucrative and satisfying careers in the traditionally...
  
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