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Volatile rouble encourages McDonald’s to cook up Russian fries

LIPETSK, Russia (Reuters) – French fries at McDonald’s restaurants from Moscow to Murmansk will be Russian from now on, as the American fast-food chain turns to homegrown potatoes to deal with rouble volatility caused by fluctuating oil prices and Western sanctions. People enter a McDonald’s restaurant in Moscow, Russia April 24, 2018.…

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Trump, Apple CEO Cook to talk trade at White House

WASHINGTON (Reuters) – President Donald Trump was set to meet with Apple Inc (AAPL.O) Chief Executive Officer Tim Cook to discuss trade issues on Wednesday as the technology industry grapples with a U.S. spat over import tariffs with China, a manufacturing hub for the iPhone maker and other companies. Apple CEO Tim…

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Boeing cruises past forecasts, sees no sign of cost trouble

(Reuters) – Boeing Co’s (BA.N) profit surged past Wall Street estimates in the first quarter and booming demand for commercial jets pushed the world’s biggest planemaker to raise forecasts for cash flow and earnings in what promises to be another record year. Speaking after the results, Chief Executive Officer Dennis Muilenburg also…

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Money

Global banks fear China will limit JV control through new rules

HONG KONG/SHANGHAI (Reuters) – Western banks are seeking clarification from China’s securities watchdog on proposals to allow them to take over their onshore securities ventures, amid concerns about high asset value requirements and limits to ownership by non-financial investors. FILE PHOTO: An advertising board (L) showing a Chinese stone lion is pictured…

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Google-owner Alphabet’s shares fall on rise in costs

(Reuters) – Shares of Google parent Alphabet Inc (GOOGL.O) lost more than 5 percent on Tuesday as a surge in costs drove what analysts said was its biggest ever contraction in gross margins, overshadowing strong first-quarter ad sales. FILE PHOTO: The Alphabet Inc. campus, also known as Googleplex, is shown in this…

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“Very good chance” of a U.S.-China trade deal: Trump

WASHINGTON (Reuters) – U.S. President Donald Trump on Tuesday said the United States would likely reach a trade agreement with China and that officials from both sides would sit down for negotiations in a few days. U.S. President Donald Trump speaks during his Oval Office meeting with French President Emmanuel Macron (not…

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FAANG, industrial stocks hit Wall Street

(Reuters) – A sharp drop in so-called ‘FAANG’ group of technology stocks pushed the Nasdaq Composite lower on Tuesday, with rising 10-year yields and contrasting earnings reports from industrials also adding to the pressure. FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in the Manhattan borough…

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Trump says new NAFTA deal could be completed quickly

WASHINGTON (Reuters) – U.S. President Donald Trump said on Tuesday that a new NAFTA trade deal could be completed quickly, as ministers from Canada, Mexico and the United States prepared to meet later in the day to try to work out their differences and hash out an agreement. U.S. President Donald Trump…

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Verizon first-quarter results beat estimates

(Reuters) – Verizon Communications Inc (VZ.N) reported better-than-expected first-quarter results on Tuesday as the No. 1 U.S. wireless carrier lost fewer monthly phone subscribers than feared, and the company’s chief financial officer said it was continuing to explore a new video service. FILE PHOTO: The Verizon logo is seen on the side…

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In Des Moines, Wells Fargo looks to soothe critics

DES MOINES, Iowa (Reuters) – Wells Fargo & Co (WFC.N) kicked off an annual meeting in Des Moines, Iowa, on Tuesday, where investors will likely press executives for assurances that a sweeping sales scandal is a thing of the past. FILE PHOTO: A Wells Fargo logo is seen at the SIBOS banking…

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