• Fed raises key interest rate and foresees 3 hikes in 2017
Fed raises key interest rate and foresees 3 hikes in 2017

All else equal, Fed rate hikes would be working in opposition to those goals. It's the kind of fiscal support that both Yellen and her Fed predecessor, Ben Bernanke, called for in the past. Fed officials ended their final meeting of 2016 by raising the federal funds rate - what banks charge each other for short-term loans - to a range of 0.50 perce...

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  • India good investment destination, GST expected next year: Modi
India good investment destination, GST expected next year: Modi

Najib noted that Malaysia and India shared a good friendship and strong economic ties. The leaders of Malaysia and India held a 30-minute live video teleconference for the first time at the inaugural Asian Business Leaders Conclave here. "India is now witnessing an economic transformation". Investment from India has created thousands of jobs in...

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  • Italy's largest bank to shed $18.8B in bad loans, cut jobs
Italy's largest bank to shed $18.8B in bad loans, cut jobs

It also plans to close 944 branches in its core areas of Italy, Germany and Austria by 2019. "We are taking decisive actions", Chief Executive Jean Pierre Mustier said. Italian banks have been rallying since last week as investors covered short positions on expectations that a solution to rescue Monte dei Paschi would be found.

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  • Venezuelans prepare for largest currency note to be yanked
Venezuelans prepare for largest currency note to be yanked

The border between the two countries was closed for a year in a Venezuelan effort to combat smuggling. The government has promised to issue new, higher-denomination bills this week amid the world's highest inflation. Those currencies are slated to be introduced on December 15. About one-third of Venezuelans don't have accounts and keep have kep...

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  • Nigeria Investigating What Caused Church Collapse That Killed Scores Of Worshippers
Nigeria Investigating What Caused Church Collapse That Killed Scores Of Worshippers

Udom Emmanuel was at Reigners Bible Church when it collapsed Friday and narrowly escaped injury, his press secretary, Ekerete Udoh, said in a statement. A crane is being used to lift debris believed to be hiding the bodies of more victims, said Peters. "I did it", he said in the tape played on December 9, 2016.

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  • How the Dow Jones industrial average finished Wednesday
How the Dow Jones industrial average finished Wednesday

Nasdaq Composite Index rose about one percent to close at 5,308.89. European stock indexes jumped as investors anticipated that the European Central Bank will extend its bond-buying stimulus program Thursday. Stocks that pay big dividends, like utility companies, traded lower. That's helped stocks that are seen as bond substitutes, like real est...

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  • 21st Century Fox Makes a Bid for Sky
21st Century Fox Makes a Bid for Sky

Fox said last night it had reached an agreement in principle to acquire the 61 per cent of Sky it does not already own for £10.75 per share. Fox's cash offer of 10.75 pounds per share is a 36.2 percent premium to Sky's Thursday close, and values the company at about 18.48 billion pounds ($23.23 billion).

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  • Joe Biden Announces Plans to Run for President in 2020
Joe Biden Announces Plans to Run for President in 2020

Since it was enacted in 2010, the GOP has been unable to coalesce around an alternative. The Vice President's main barrier in this goal is his advanced age. Later on, Biden said he wasn't fully "committing" to running just yet, but this reportedly occurred after a long and notable pause. Biden considered running this year, but decided in Octobe...

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  • Gunbattle triggers anti-India clashes in Kashmir
Gunbattle triggers anti-India clashes in Kashmir

The optimist school of thought believes in the cooperative bilateralism as a mechanism for conflict resolution between India and Pakistan whereas the pessimist school of thought believes in the incapacity of India and Pakistan to resolve Kashmir conflict bilaterally and hold the view that the internationalization of Kashmir problem can invite the a...

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  • Amazon Opens Convenience Store with a Twist
Amazon Opens Convenience Store with a Twist

This isn't Amazon's first experiment with a brick-and-mortar store - they launched a bookstore previous year in Seattle , as The New York Times reports , and have since added locations in San Diego and Portland. Where could Amazon look next in the US? FutureProofRetail launched the first store in the United States to open with line free...

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  • Tata Steel: Unions to discuss deal to protect workers' jobs
Tata Steel: Unions to discuss deal to protect workers' jobs

Tata's United Kingdom business was put up for sale in March. Other plants which will benefit from the deal being reached include Llanwern, Trostre, Shotton, Corby, Hartlepool and sites in the West Midlands. Community said it was continuing to work hard to secure a future for these sites. Tata's initial decision to exit the United Kingdom steel ...

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  • Trump Takes Twitter Aim at Companies Looking to Move Jobs Abroad
Trump Takes Twitter Aim at Companies Looking to Move Jobs Abroad

The U.S. has lost 5 million manufacturing jobs since 2000, many to automation and some to overseas locations where company owners are paying workers substantially less than they have been in the United States. President-elect Donald Trump speaks to workers at Carrier air conditioning and heating on December 1, 2016 in Indianapolis, Indiana. He ...

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  • US employers add 178K jobs as unemployment sinks to 4.6 pct
US employers add 178K jobs as unemployment sinks to 4.6 pct

Let me explain. While the USA economy added 178,000 jobs in November, that didn't offset the 226,000 people leaving the labor force. A broad measure of unemployment, that includes people who want to work but have given up searching and those working part-time because they can not find full-time employment, fell two-tenths of a percentage point to...

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  • Country ready to go digital: PM Modi on demonetisation
Country ready to go digital: PM Modi on demonetisation

He said that his government was finding ways to punish those who were misusing jan dhan accounts. While Modi has been praised for his intentions, he is facing flak from political opponents as well as prominent economists such as Amartya Sen and Paul Krugman for sucking 86 percent of the currency out of circulation virtually overnight.

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  • Next-gen Ford Fiesta arrives - four variants, new tech
Next-gen Ford Fiesta arrives - four variants, new tech

Ford, like other auto makers in the pint-sized space, has made connectivity a big part of its appeal adding its new SYNC3 infotainment system to the facelifted Fiesta range. The Titanium model will be seen in America as well. The new Fiesta's engines will probably include Ford's latest small EcoBoost powerplants. Whether or not we will see ...

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  • Nusli Wadia to go ahead with defamation cases against Tatas
Nusli Wadia to go ahead with defamation cases against Tatas

At Tata Steel, Tata Motors and Tata Steel, the flagship holding company of the salt-to-software conglomerate has also sought the ouster of Nusli Neville Wadia as independent director, citing his alleged complicity with Mistry, as the latter allegedly tried to gain control of these firms.

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  • Pixel predicted to sell six million
Pixel predicted to sell six million

Google Pixel was able to surpass all smartphone competitors of this year 2016. The phone was launched at a price tag of Rs 57,000 for the 5-inch 32GB variant, the 5.5 inch Pixel XL 128GB being the costliest at Rs 76,000. The popularity and positive feedbacks elicited from its users have eventually led to the discontinuation of Nexus 6P. H...

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  • US Expected To Forgive At Least $108 Billion In Student Debt
US Expected To Forgive At Least $108 Billion In Student Debt

As serious as Last Week Tonight's deep dive into for-profit colleges and the staggering amount of student loan debt that college-aged Americans now face, John Oliver is a comedian. In 2015, the Washington Post reported that the President's 2016 budget proposal contained a revised estimate of the costs of the repayment plans, totaling $22 billion ...

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  • The US Government Will Forgive Far More Student Loan Debt Than Expected
The US Government Will Forgive Far More Student Loan Debt Than Expected

Of that figure, $137 billion won't be repaid, including $108 billion that will be forgiven after 10 or 20 years, per the terms of the plan. The move is seen as a huge spending blowout by the administration of President Barack Obama, whose strategy to help student-loan borrowers has been much more expensive than expected.

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  • Obama's student loan policy is costing twice as much as expected
Obama's student loan policy is costing twice as much as expected

The Government Accountability Office's study , which was released today, found that the federal government is on track to forgive at least $108 billion in student loan debt-which is significantly more than previous estimates. "The decline in private education borrowing could potentially be attributed to a number of factors that include a tightenin...

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