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World stocks steam higher as inflation fears suddenly fizzle

LONDON (Reuters) – Stocks, bond yields and commodities steamed higher on Thursday while the dollar tumbled, as investors suddenly seemed to forget the inflation fears blamed for a brutal market sell-off in recent weeks. Economists were struggling to explain the turnaround except for the argument that historically it’s not unusual for stocks…

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Britain’s Burberry pairs up with Farfetch in online push

PARIS (Reuters) – Burberry (BRBY.L) will team up with online retailer Farfetch to make all of its products available to internet shoppers in 150 countries, the British fashion company said on Thursday. Luxury groups from Louis Vuitton owner LVMH LMVH.PA to Gucci parent Kering (PRTP.PA) are putting more resources into e-commerce as…

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Amazon says to create 2,000 jobs in France in 2018

PARIS (Reuters) – U.S. online retail giant Amazon said on Thursday it will create 2,000 permanent contract positions this year in France, its largest market in Europe after Britain and Germany. The increase will bring Amazon’s total number of permanent French staff to 7,500 in 2018 and reflects confidence in the economy…

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Google’s app network quietly becomes huge growth engine

SAN FRANCISCO (Reuters) – Google makes ads show up in more smartphone apps than any other technology company. That is the core of a resurgent business for parent Alphabet Inc. Google’s ad network unit has posted three straight quarters of year-over-year double-digit sales increases. The business is nearing $20 billion in annual…

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China’s ZTE says is trusted partner after U.S. concern

BEIJING (Reuters) – Chinese telecoms equipment group ZTE Corp hit back on Thursday against concerns from U.S. lawmakers that it is a vehicle for Chinese espionage, saying it was a trusted partner of its U.S. customers, state news agency Xinhua reported. China is trying to gain access to sensitive U.S. technologies and…

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U.S. inflation test looms large, dollar falls

LONDON (Reuters) – The dollar slid to a 15-month low against the yen on Wednesday, while world stock markets found firmer ground ahead of U.S. inflation numbers that could soothe, or inflame, fears of faster interest-rate hikes globally. European stock markets opened the day higher, with blue-chip indexes in London .FTSE, Paris…

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Uber’s fourth-quarter loss narrows to $1.1 billion: source

(Reuters) – Uber Technologies Inc narrowed its fourth-quarter loss to $1.1 billion from a loss of $1.46 billion in the previous quarter, a person familiar with the matter told Reuters. The ride-hailing company’s quarterly revenue rose 11.8 percent to $2.2 billion from its previous quarter, the source said. Uber has gone on…

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U.S. regulators probe Credit Suisse hiring in Asia

FRANKFURT (Reuters) – U.S. authorities are investigating whether Credit Suisse hired referrals from government agencies and state entities in Asia in exchange for investment banking business and regulatory approvals, the Swiss bank said on Wednesday. Credit Suisse said it was in contact with the Department of Justice and the U.S. Securities and…

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Walmart goes to the cloud to close gap with Amazon

SAN BRUNO/SUNNYVALE, Calif. (Reuters) – One of Walmart Inc’s best chances at taking on Amazon.com Inc in e-commerce lies with six giant server farms, each larger than ten football fields. These facilities, which cost Walmart millions of dollars and took nearly five years to build, are starting to pay off. The retailer’s…

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