Finance news

• BRIEF-Arch Coal announces proposed board of directors

  06-09-2016 23:23
  
  * Term of new board members will begin upon company's
  emergence from chapter 11.
  
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• Wall St. ends up on views Fed will hold off on rates

  06-09-2016 22:34 via news.yahoo.com
  
  (Reuters) - U.S. stocks rose slightly on Tuesday, nudging the Nasdaq to a record high close, as economic data bolstered views the Federal Reserve may decide against raising interest rates in the near term.
  
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• Fast Tel Aviv-Jerusalem rail link due in 2018: minister

  06-09-2016 22:22 via news.yahoo.com
  
  A new half-hour train link between Jerusalem and Tel Aviv will open in 2018, changing the lives of thousands of Israelis, the transport minister said on Tuesday. The two cities, which account for the majority of the country's economic activity, are nearly 70 kilometres (44 miles) apart but are currently served only by a 90-minute winding railway line on a route designed during the British mandate. The much-delayed new train service will shuttle passengers at up to 160 kilometres per hour from ea
  
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• Enbridge buying Spectra in $28 billion deal

  06-09-2016 22:01
  
  (Reuters) - Canada's Enbridge Incsaid on Tuesday it would buy Spectra Energy Corpof Houston in an all-stock deal valued at about $28 billion (C$37 billion) to create the largest North American...
  
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• Lower Manhattan rebounds 15 years after Sept. 11 attacks

  06-09-2016 21:24 via news.yahoo.com
  
  Lower Manhattan's population has more than doubled and the number of children living there has tripled since just before the Sept. 11, 2001, attacks hit the financial district, a report on the neighborhood's rebirth showed. Employment growth in the area has equaled one in 10 of Manhattan's private sector jobs, with a more diverse economy that is growing faster than the city-wide average, according to the report from New York State Comptroller Thomas DiNapoli on Tuesday. "It would have been impos
  
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• Wall St. inches up on views Fed will hold off on rates

  06-09-2016 21:08 via news.yahoo.com
  
  (Reuters) - U.S. stocks edged higher on Tuesday as economic data bolstered views the Federal Reserve may decide against raising interest rates in the near term.
  
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• Icahn Enterprises to buy rest of Federal-Mogul for $9.25/share

  06-09-2016 19:59
  
  (Reuters) - Billionaire Carl Icahn's investment firm, Icahn Enterprises LP , said it would buy the remaining 18 percent of auto parts maker Federal-Mogul Holdings Corpfor $9.25 per share, at a time...
  
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• EOG inks $2.5 billion deal in shift to low-cost Permian shale

  06-09-2016 19:56
  
  (Reuters) - EOG Resources Inc said on Tuesday it would buy privately held Yates Petroleum Corp for $2.5 billion in stock and cash, in the latest move by a U.S. energy company to acquire acreage in...
  
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• Gains in energy, tech stocks prop up Wall Street

  06-09-2016 19:54 via news.yahoo.com
  
  Wall Street was higher in choppy trading on Tuesday, helped by technology and energy stocks, but gains were limited by weak services data. The S&P 500's energy index rose 1.18 percent, even as oil slipped, driven by Enbridge's acquisition of Spectra Energy for about $28 billion. Spectra jumped 14 percent and was the biggest gainer on the energy index.
  
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• Brazil's Caixa plans 2017 IPOs for insurance, card units: source

  06-09-2016 19:53
  
  SAO PAULO (Reuters) - Brazil's state lender Caixa Economica Federal [CEF.UL] is planning initial public offerings (IPOs) of its insurance and credit card units in 2017, a source with direct knowledge...
  
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• Clinton slams Trump for commenting on Fed policies

  06-09-2016 19:52 via news.yahoo.com
  
  By Jeff Mason WASHINGTON (Reuters) - Democratic presidential candidate Hillary Clinton criticized Republican rival Donald Trump on Tuesday for making comments about Federal Reserve policies, which she said should be off-limits for U.S. presidents and presidential candidates. "You should not be commenting on Fed actions when you are either running for president or you are president," Clinton told reporters on her campaign plane. Words can be misinterpreted." Trump, who has previously accused the
  
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• Brookfield-led group to buy $5.2 billion Petrobras unit: source

  06-09-2016 19:37
  
  SAO PAULO (Reuters) - Brazil's state-run oil company Petroleo Brasileiro SA agreed to sell 90 percent of its natural gas pipeline unit to a group of investors led by Canada's Brookfield Asset...
  
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• China's online chatter muted ahead of Apple iPhone 7 launch

  06-09-2016 19:29 via news.yahoo.com
  
  By Adam Jourdan and Paul Carsten SHANGHAI/BEIJING (Reuters) - Judging by the volume of online chatter, there's a lot less buzz in China ahead of this week's expected launch of the new Apple Inc iPhone, and people on the street say they're more likely to "wait and see" what the latest device offers than rush out to buy. Posts on China's popular Sina Weibo microblogging site show the iPhone 6, which took China by storm in 2014 with its new, larger screen, attracted around 15 times more comments in
  
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• Colombia's Santos says peace deal will pass, more war a disaster

  06-09-2016 18:45 via news.yahoo.com
  
  By Helen Murphy and Luis Jaime Acosta BOGOTA (Reuters) - Colombians are sure to approve a peace deal with Marxist FARC rebels in a referendum next month because they see the enormous economic opportunity and know renewed war would be a "catastrophe," President Juan Manuel Santos told Reuters. Santos has spent about six years trying to make the Revolutionary Armed Forces of Colombia (FARC) hand in weapons and end a half-century conflict that has killed more than 220,000 people and limited economi
  
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• Soft Wall Street weighs on world markets

  06-09-2016 18:33 via news.yahoo.com
  
  Weak US economic data weighed on Wall Street Tuesday, in turn triggering profit-taking in European markets which were also worried about weaker oil prices.
  
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• Saudi's ADC weighs bid for land rig operator Dalma: sources

  06-09-2016 18:29
  
  DUBAI (Reuters) - Saudi Arabia's Arabian Drilling Company (ADC) is considering bidding for Dalma Energy, sources told Reuters, in a deal which could value the land rig operator at more than $500...
  
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• U.S. services sector activity slows to a six and a half year low

  06-09-2016 18:11 via news.yahoo.com
  
  U.S. services sector activity hit a 6-1/2 year-low in August amid sharp drops in production and orders, pointing to slowing economic growth that could further diminish prospects for an interest rate hike from the Federal Reserve this month. The Institute for Supply Management (ISM) said on Tuesday its non-manufacturing activity index fell 4.1 percentage points to a reading of 51.4, the lowest since February 2010. The drop from July was the largest monthly decrease since the 2008 financial crisis
  
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• Wall Street pares gains on weak services data

  06-09-2016 17:34 via news.yahoo.com
  
  (Reuters) - The S&P 500 index and the Dow pared gains on Tuesday as financial stocks were weighed down by weak services data.
  
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• Puerto Rico government bank misses interest payment

  06-09-2016 17:25
  
  Sept 6 (Reuters) - Puerto Rico's virtually insolvent
  Government Development Bank missed $9.9 million in interest
  payments on several series of 2010 and 2011 senior notes, the
  bank said in a...
  
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• South African economy bounces back in Q2 but outlook cloudy

  06-09-2016 17:21 via news.yahoo.com
  
  By Mfuneko Toyana PRETORIA (Reuters) - South Africa's economy grew its most in six quarters between April and June as declines in the rand helped drive strong growth in mining and manufacturing, offering some breathing space to a government riven by internal tensions. After shrinking by 1.2 percent quarter on quarter in the three months to March, the economy soared to a growth of 3.3 percent, Statistics South Africa said on Tuesday - a full percentage point better than forecasts in a Reuters pol
  
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• Nigeria's trade deficit narrowed in Q2 helped by naira float

  06-09-2016 17:12 via news.yahoo.com
  
  By Chijioke Ohuocha LAGOS (Reuters) - Nigeria's trade deficit narrowed in the second quarter boosted by a currency float in June lifting exports, the national bureau of statistics said on Tuesday, but the rise was not enough to help the economy avoid a recession. The currency move helped Nigeria's trade balance gain some ground to stand at minus 196.5 billion naira in the second quarter, the NBS said from minus 351.3 billion naira in the first quarter ($1.1 billion - $600.5 million). "This devel
  
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• London shares buck global rally

  06-09-2016 16:25 via news.yahoo.com
  
  London (AFP) - Global stock markets rose Tuesday except in London which was weighed down by a rallying pound as fears about the economic impact of Britain's EU exit begin to ease.
  
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• GE speeds up 3D printing push with bids for SLM, Arcam

  06-09-2016 16:25
  
  FRANKFURT/STOCKHOLM (Reuters) - General Electric launched bids on Tuesday to buy two of the world's top makers of machines for metal-based 3D printing- Sweden's Arcam and Germany's SLM Solutions -...
  
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• Wall Street rises on lower rate-hike odds, merger activity

  06-09-2016 16:03 via news.yahoo.com
  
  (Reuters) - Wall Street was higher on Tuesday morning as lower chances of an interest rate hike and a host of multi-billion dollar takeover deals boosted investor sentiment.
  
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• Wall St rises on lower rate-hike odds, merger activity

  06-09-2016 16:02 via news.yahoo.com
  
  Wall Street was higher on Tuesday morning as lower chances of an interest rate hike and a host of multi-billion dollar takeover deals boosted investor sentiment. Top Federal Reserve officials, encouraged by a string of strong economic data, had hinted that a rate hike could come as early as this month. The dollar index fell 0.2 percent on Tuesday.
  
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• Emerging market bulls push stocks higher

  06-09-2016 15:21 via news.yahoo.com
  
  Asian stocks reached one-year highs overnight and MSCI's 46-country 'All World' index was close to the same as most of Europe's markets climbed 0.1 to 0.3 percent higher. Wall Street was also looking set for modest gains when it reopens later after a long Labour Day weekend and with a batch of manufacturing data due. Britain's FTSE 100 was Europe's laggard, spending a second day in the red, as sterling's slow recovery after the country voted to leave the European Union left investors looking at
  
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• Wall St to open flat as investors weigh rate-hike odds

  06-09-2016 15:16 via news.yahoo.com
  
  Wall Street was set to open little changed on Tuesday as investors weighed the chances of an interest rate hike following a lackluster jobs report. Top Federal Reserve officials, encouraged by a string of strong economic data, had hinted that a rate hike could come as early as this month. "The markets probably got what they most wanted," said Andre Bakhos, managing director at Janlyn Capital.
  
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• Wall Street to open flat as investors weigh rate-hike odds

  06-09-2016 15:09 via news.yahoo.com
  
  (Reuters) - Wall Street was set to open little changed on Tuesday as investors weighed the chances of an interest rate hike following a lackluster jobs report.
  
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• Finnish politics play havoc with Guggenheim's Helsinki museum plans

  06-09-2016 14:11 via news.yahoo.com
  
  By Jussi Rosendahl and Tuomas Forsell HELSINKI (Reuters) - A plan to build a Guggenheim museum on the Helsinki waterfront - joining the likes of those that grace New York, Bilbao and Venice - appears close to collapse because of a political row. The co-ruling nationalist Finns party has blocked state aid for its construction. Presented in 2012 by the Solomon R. Guggenheim Foundation, the 120-140 million euro ($134-$156 million) plan has faced resistance from many Finns who consider it a waste of
  
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• PayPal, MasterCard reach deal for store payments

  06-09-2016 13:56 via news.yahoo.com
  
  (Reuters) - MasterCard Inc said it signed a deal with PayPal Holdings Inc that will allow customers to use PayPal's payment services in stores. PayPal's partnership with MasterCard follows a similar deal with Visa Inc in July as the company looks to expand its payments network. The partnership with MasterCard was first reported by the Wall Street Journal.
  
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• Stock futures flat as investors assess rate hike chances

  06-09-2016 13:38 via news.yahoo.com
  
  * About 151,000 jobs were added in August, far less than in the past two months, raising doubts about the U.S. economy's ability to absorb a rate hike in the near-term. * Federal Reserve Chair Janet Yellen said in a meeting last month that the case for higher rates had strengthened, encouraged by a strong labor market and fewer risks to economic outlook. * While Yellen had not specified the timing of the next hike, top Fed officials, including Vice Chairman Stanley Fischer, have hinted at a move
  
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• European stocks diverge awaiting US return

  06-09-2016 13:35 via news.yahoo.com
  
  Hong Kong (AFP) - European stock markets narrowly diverged on Tuesday following unrevised eurozone growth data, while a firmer pound pulled London lower, as US traders return to their desks after a public holiday.
  
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• Zika could impact slowing economy, Singapore bank chief says

  06-09-2016 13:22 via news.yahoo.com
  
  By Marius Zaharia and Anshuman Daga SINGAPORE (Reuters) - A Zika outbreak in Singapore could have a small impact on the almost $300 billion economy, the central bank chief said on Tuesday, as the mosquito-borne virus spreads across the global financial and transit hub. Ravi Menon, managing director of the Monetary Authority of Singapore, did not give further details, but the outbreak coincides with a dip in overall exports and growth in the trade-dependent economy. Growth is also slowing in Chin
  
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• PayPal reaches deal with MasterCard for store payments - WSJ

  06-09-2016 13:02 via news.yahoo.com
  
  (Reuters) - PayPal Holdings Inc has entered into a deal with MasterCard Inc that will allow payments in stores, the Wall Street Journal reported. PayPal will allow users to select a credit or debit card as the default payment method and share data on transactions made through MasterCard's tap-and-pay feature. PayPal reached a similar deal with Visa Inc in July to make it easier for its customers to use Visa credit and debit cards in stores.
  
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• South Africa's economy avoids recession as manufacturing, mining grow

  06-09-2016 12:46 via news.yahoo.com
  
  South Africa's economy grew by its most in six quarters as the mining and manufacturing sectors reversed sharp contractions due to an uptick in exports, the statistics agency said, ending fears of a recession. Growth beat market consensus, rising by 3.3 percent in the second quarter of 2016, its fastest quarterly growth since the fourth quarter of 2014, after shrinking by 1.2 percent in the three months to March, Statistics South Africa said on Tuesday. The currency of Africa's most industrialis
  
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• Paris to open first migrant camp by October

  06-09-2016 12:42 via news.yahoo.com
  
  Paris will house close to 1,000 migrants in two camps to tackle the growing number of men, women and children fleeing war and poverty who are sleeping rough on the French capital's streets, the city's mayor said on Tuesday. The building of the two camps in the capital comes as the government faces pressure to dismantle a swollen shanty town dubbed the 'jungle' near the port of Calais, whose inhabitants are blamed by residents for an increase in crime and the ailing local economy. Paris mayor Ann
  
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• Poland could sign climate deal amendment if EU backs new coal plants

  06-09-2016 12:40 via news.yahoo.com
  
  Poland is willing to back EU ratification of an amendment to the Kyoto Protocol on carbon emissions if the European Commission guarantees financing for new, cleaner coal-fired power stations, the Prime Minister's office said. Last October Poland's president unexpectedly vetoed 2012's Doha amendment which extends the protocol until 2020, arguing that the country needed more time to analyze its impact on the economy. The Kyoto Protocol, signed in 1997, obliged about 40 developed nations to cut the
  
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• Zika could impact slowing economy, Singapore central bank chief says

  06-09-2016 12:01 via news.yahoo.com
  
  By Anshuman Daga and Marius Zaharia SINGAPORE (Reuters) - A Zika outbreak in Singapore could have a small impact on the almost $300 billion economy, the central bank chief said on Tuesday, as the mosquito-borne virus spreads across the global financial and transit hub. Ravi Menon, managing director of the Monetary Authority of Singapore, did not give further details, but the outbreak coincides with a dip in overall exports and growth in the trade-dependent economy. Growth is also slowing in Chin
  
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• South Africa's economy expands 3.3 percent in Q2: stats agency

  06-09-2016 11:39 via news.yahoo.com
  
  South Africa's economy expanded by 3.3 percent in the second quarter of 2016 after shrinking by 1.2 percent in the three months to March, Statistics South Africa said on Tuesday. Gross domestic product also expanded by 0.6 percent on an unadjusted year-on-year basis in the second quarter, compared with 0.1 percent contraction in the previous three months, the agency said.
  
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• Asian markets mostly rise as dollar gains

  06-09-2016 09:26 via news.yahoo.com
  
  Asian markets extended gains on Tuesday on diminishing prospects of a US interest rate rise this month, while the dollar also gained against the yen after Japan's central bank chief pledged fresh stimulus if needed. Traders remain upbeat after data Friday showed a healthy increase in US jobs creation -- indicating an improving economy -- but not a strong enough figure to justify an early increase in borrowing costs.
  
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• Asian markets barring Australia gain as RBA keeps rates steady at 1.5%

  06-09-2016 09:04 via news.yahoo.com
  
  Most Asian stock market indices were trading higher on Tuesday (6 September) with the Shanghai Composite Index up 0.48% at 3,086.75 as of 5.53am GMT, following the Reserve Bank of Australia deciding to keep its cash rates steady at 1.5%.
  
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• South Africa's rand rallies ahead of expected GDP boost

  06-09-2016 09:00 via news.yahoo.com
  
  JOHANNESBURG (Reuters) - South Africa's rand strengthened early on Tuesday, extending gains to a fourth consecutive session in thin trade after a holiday in the United States and ahead of local GDP data expected to show the economy avoided recession. * Rand 0.6 percent firmer at 14.2950 per dollar at 0650 GMT versus overnight close of 14.3800. * Government bonds also firmer. Yield on benchmark 2026 paper down 4 basis points to 8.81 percent. * Q2 GDP release at 0930 GMT. Positive numbers would li
  
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• BRIEF-Molycorp cancels its shares in Molibdenos y Metales

  06-09-2016 08:47
  
  * Said on Monday, as part of emerging from bankruptcy
  proceedings under US law, all 46.7 million shares held by
  Molycorp in Molibdenos y Metales were cancelled
  
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• Singapore central bank chief says 'early indications' Zika could have small economic impact

  06-09-2016 08:30 via news.yahoo.com
  
  Singapore's central bank chief said on Tuesday there were early indications that an outbreak of the Zika virus in the city state could have a small impact on the economy. Ravi Menon, managing director of the Monetary Authority of Singapore, did not give any details.
  
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• Singapore c.bank chief says 'early indications' Zika could have small economic impact

  06-09-2016 08:07 via news.yahoo.com
  
  SINGAPORE (Reuters) - Singapore's central bank chief said there were early indications that an outbreak of the Zika virus in the city state could have a small impact on the economy. Ravi Menon, managing director of the Monetary Authority of Singapore, did not give any details. He also said it was too early to asses the impact of the virus on Singapore, an international financial and transit hub. Menon was speaking at the Foreign Correspondents Association in Singapore on Tuesday. (Reporting by M
  
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• Vietnam carriers splurge $6.5 bn on Airbus jets

  06-09-2016 07:12 via news.yahoo.com
  
  Vietnam airlines bought 40 airplanes worth $6.5 billion from France's Airbus on Tuesday, as President Francois Hollande visited the communist nation to drum up business ties with one of Southeast Asia's fastest-growing economies. Hollande, the third French president to visit Vietnam since independence, said the "very important deals" deepened ties with its former colony where France's legacy is ubiquitous, from the country's colonial-era buildings to French-influenced cuisine. "We agreed to enco
  
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• FOREX-Yen keeps distance from 1-month low after Kuroda comments, Aussie gains

  06-09-2016 07:09
  
  TOKYO, Sept 6 (Reuters) - The yen kept some distance from a
  one-month low against the dollar on Tuesday after Bank of Japan
  Governor Haruhiko Kuroda held back from signalling further
  easing,...
  
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• Canada tech players reap benefits as export picture brightens

  06-09-2016 07:09 via news.yahoo.com
  
  By Fergal Smith TORONTO (Reuters) - Smaller Canadian technology companies making products like robotics, drones and high-tech thermostats are proving to be some of the biggest winners as the country's recently struggling non-commodity export sector shows signs of revival. Data released on Friday showed Canada's trade deficit in July unexpectedly shrank on stronger non-energy exports, which had struggled for months. The Bank of Canada sees the sector as crucial to helping revive an economy hit by
  
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• U.S. companies tout climate policies, fund climate skeptics

  06-09-2016 07:00
  
  BOSTON/NEW YORK, Sept 6 (Reuters) - U.S. companies that have
  expressed the most fervent public support for President Barack
  Obama's environmental agenda are also funding its biggest
  enemies - the...
  
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• Laptops and cool tops: a strong year for U.S. back-to-school shopping

  06-09-2016 07:00
  
  Sept 6 (Reuters) - Along with the perennial run on leggings,
  students returning to America's classrooms this year are making
  a beeline for retro sneakers, "cold-shoulder" tops, versatile
  laptops and...
  
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