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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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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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