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BlackRock’s Rieder halved fund’s emerging market exposure

NEW YORK (Reuters) – Top BlackRock Inc (BLK.N) bond investor Rick Rieder halved exposure in recent months to a once-major bet in his portfolios on emerging markets on concerns including that the dollar could move higher, he told Reuters on Friday. Rick Rieder, BlackRock’s Global Chief Investment Officer, speaks during the Reuters…

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Loan market shrugs off prison financing protests

NEW YORK (LPC) – The U.S. leveraged loan market appeared to shrug off protests at the center of a national immigration debate that saw illegal immigrants separated from their children as advocates take aim at banks financing companies that run detention centers.  Advocacy groups in New York gathered Wednesday near JP Morgan…

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Starbucks reports cooling quarterly growth and pares outlook

NEW YORK (Reuters) – Starbucks Corp (SBUX.O) forecast slower growth for the current fiscal year on Thursday as boutique coffee chains and fast-food retailers won business in the United States and other established markets and the bloom came off once-booming China. FILE PHOTO: A Starbucks store is seen inside the Tom Bradley…

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U.S. regulator stands by decision to block Winklevoss bitcoin ETF

NEW YORK/WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission on Thursday stood by a decision blocking an exchange-traded fund that would have tracked bitcoin, citing concerns about market manipulation. Brothers Cameron (L) and Tyler Winklevoss talk to each other as they attend a New York State Department of Financial Services (DFS)…

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Papa John’s founder says successor not right fit for CEO

NEW YORK (Reuters) – John Schnatter, the founder and largest shareholder of Papa John’s International Inc (PZZA.O), said on Thursday that Steve Ritchie, who rose from a $6-per-hour employee to CEO with Schnatter’s backing, should not be leading the company. FILE PHOTO: John Schnatter (R) arrives at the 2011 American Music Awards…

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Amazon earnings skyrocket on cloud computing, advertising

(Reuters) – Amazon.com Inc (AMZN.O) forecast strong fall sales and posted a profit that was double Wall Street targets on Thursday thanks to the retailer’s younger, higher-earning businesses, including cloud computing and advertising. Shares rose more than 3 percent in after-hours trade. The report was a relief to investors in the U.S.…

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Game publisher EA’s revenue forecast misses estimates

(Reuters) – Electronic Arts Inc forecast tepid second-quarter revenue growth on Thursday, overshadowing quarterly results that topped analysts’ estimates and sending its shares down 7 percent in extended trading. FILE PHOTO: An Electronic Arts (EA) video game logo is seen at the Electronic Entertainment Expo, or E3, in Los Angeles, California, United…

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BP to buy U.S. shale assets from BHP for $10.5 billion

(Reuters) – BP Plc (BP.L) has agreed to buy U.S. shale oil and gas assets from global miner BHP Billiton (BLT.L) (BHP.AX) for $10.5 billion, giving the British oil major a much bigger footprint in oil-rich onshore basins. FILE PHOTO: BHP Billiton Chief Executive Andrew Mackenzie is silhouetted against a screen projecting…

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U.S. regulator stands by decision to block Winklevoss bitcoin ETF

NEW YORK/WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission on Thursday stood by a decision blocking an exchange-traded fund that would have tracked bitcoin, citing concerns about market manipulation. Brothers Cameron (L) and Tyler Winklevoss talk to each other as they attend a New York State Department of Financial Services (DFS)…

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