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Lowe’s quarterly profit miss estimates

(Reuters) – Lowe’s Companies Inc’s (LOW.N) quarterly profit missed analysts’ estimates as the No.2 U.S. home improvement chain’s margins fell, sending its shares down nearly 8 percent in premarket trading on Wednesday. Lowe’s net income fell to $554 million, or 67 cents per share, in the fourth quarter ended Feb. 2, from…

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Indonesia seizes luxury yacht linked to 1MDB probe

JAKARTA (Reuters) – Indonesia on Wednesday seized a luxury yacht on the island of Bali sought by the U.S. Department of Justice (DOJ) as part of a multi-billion dollar corruption investigation linked to Malaysian state fund 1Malaysia Development Berhad (1MDB). “We have been inspecting the crew since yesterday and now we are…

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American Airlines, Qantas re-seek U.S. nod for joint venture

SYDNEY (Reuters) – American Airlines Group Inc (AAL.O) and Qantas Airways Ltd (QAN.AX) are making a second attempt at gaining U.S. regulatory permission for a venture that would allow them to coordinate prices and schedules, threatening to cancel services if they are rejected. The pair’s application for a joint venture covering the…

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Microsoft clashes with Justice Department at U.S. Supreme Court

WASHINGTON (Reuters) – The U.S. Supreme Court on Tuesday wades into a major privacy rights fight between Microsoft Corp(MSFT.O) and the Justice Department, weighing whether U.S. law allows prosecutors to compel technology companies to hand over data stored overseas. The nine justices will hear arguments in a case that pits the interests…

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Activist Deason seeks to nominate new Xerox board

(Reuters) – Activist Investor Darwin Deason on Monday sought to nominate a full slate of directors to Xerox Corp’s board at the company’s upcoming annual meeting, despite missing a deadline for putting forth directors. The attempt to change the board follows a lawsuit filed earlier this year as Deason and fellow shareholder…

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