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WPP investigates CEO Sorrell for alleged misconduct, which he denies

LONDON (Reuters) – WPP (WPP.L) is investigating an allegation of misconduct against Martin Sorrell, who has built the world’s biggest advertising empire over more than three decades of relentless expansion. Sorrell, who denies any wrongdoing, transformed WPP from a wire shopping basket maker through acquisitions of top creative agencies including J. Walter…

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Money

Deep Thinkers: First jobs of top American minds

NEW YORK (Reuters) – With the recent demise of Stephen Hawking, humanity lost one of its greatest minds, someone able to contemplate the deepest and most perplexing mysteries of life and the universe. FILE PHOTO: Physicist Stephen Hawking sits on stage during an announcement of the Breakthrough Starshot initiative with investor Yuri…

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Business

China vows countermeasures as U.S. issues extensive tariff list

WASHINGTON/BEIJING (Reuters) – China condemned the United States on Wednesday as the Trump administration pushed ahead with plans to slap tariffs on about $50 billion of Chinese industrial and hi-tech products, and vowed imminent countermeasures in the escalating trade dispute. The U.S. government hours earlier unveiled a detailed breakdown of some 1,300…

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Money

Your money: How to deal with mortgage-rate envy

NEW YORK (Reuters) – Kristin Tassi spent last weekend happily settling into her new home in the Chicago area, but part of her brain was still obsessing over the mortgage rate she got for it. FILE PHOTO – A ‘for sale’ is seen outside a single family house in Garden City, New…

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Wall Street edges higher as tech stocks bounce back

(Reuters) – U.S. stocks rose on Tuesday as technology shares recovered from a sharp selloff a day earlier, helping the S&P 500 and the Dow stay above an important technical level. Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 26, 2018. REUTERS/Brendan McDermid…

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Strong economy, discounts lift automakers March U.S. sales

DETROIT (Reuters) – Major automakers on Tuesday reported higher new vehicles sales for March on the back of a strong U.S. economy and big consumer discounts, sending shares in Detroit’s automakers up in morning trading. The 2015 Jeep Grand Cherokee is exhibited at a car dealership in Jersey City, New Jersey, U.S.…

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GM to drop monthly U.S. vehicle sale reports

DETROIT (Reuters) – General Motors Co (GM.N) said on Tuesday it will stop reporting monthly U.S. vehicle sales, saying the 30-day snapshot does not accurately reflect the market and the company will, instead, issue quarterly sales reports. A partially assembled Chevrolet 2017 Sonic is seen on the assembly line at GM’s Orion…

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Price indications point to strong Spotify NYSE launch

LONDON/NEW YORK (Reuters) – Spotify Technology SA (SPOT.N) shares appeared on course for a strong debut on Tuesday, with opening indication ranges well above where the stock had been trading in its final days in private markets. While it has yet to open, price indications posted by its primary market maker were…

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Amazon shares pare some gains as Trump attacks company again

WASHINGTON (Reuters) – Shares of Amazon.com Inc (AMZN.O) pared earlier gains on Tuesday after U.S. President Donald Trump repeated his unsubstantiated claim that the world’s biggest online retailer’s deliveries cost the U.S. Postal Service money. FILE PHOTO – The logo of Amazon is seen on a building in San Jose, Costa Rica…

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Alibaba to buy remaining shares in food delivery app Ele.me

(Reuters) – Chinese e-commerce giant Alibaba Group Holding Ltd said on Monday it would buy the remaining shares of Ele.me, a major platform in China’s food delivery market, as it competes with Tencent Holdings Ltd services for offline consumers. Drivers of the food delivery service Ele.me prepare to start their morning shift…

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Amazon shares fall 6 percent as Trump renews attack

(Reuters) – Shares of Amazon.com Inc (AMZN.O) fell 6 percent on Monday after U.S. President Donald Trump again attacked the online retailer over the pricing of its deliveries through the United States Postal Service and promised unspecified changes. FILE PHOTO: Amazon boxes are seen stacked for delivery in the Manhattan borough of…

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Latin American nations compete for capital in surge of oil auctions

HOUSTON (Reuters) – For decades, many Latin America’s oil-producing nations have often shunned investment from foreign firms, instead keeping their vast reserves under the tight control of governments and state-run oil companies. FILE PHOTO – View of the oil refinery Ecopetrol in Barrancabermeja, Colombia, March 1, 2017. Picture Taken March 1, 2017.…

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