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eBay to spin off PayPal

NEW YORK (AFP) ― U.S. online retail giant eBay unveiled plans Tuesday to spin off PayPal, aiming to help the unit compete better in the fast-moving online payments segment.The plan, to take effect ne...

Updated : 2014.10.01 21:11

Apple unveils gold iPad

Apple Inc. will add a gold color option for its full-size iPads in an effort to boost a category that’s posted declining shipments this year, according to people familiar with the plans. New versions of the company’s 9.7-inch iPads, anticipated to be unveiled this month, will include gol...

Updated : 2014.10.01 21:11

EU says Apple gets illegal tax benefits in Ireland

BRUSSELS (AP) ― Apple risks having to repay Ireland tax rebates worth billions of dollars after the European Union’s competition watchdog said Tuesday the company appears to be benefiting from illeg...

Updated : 2014.10.01 21:10

News Corp. buys Move to boost its real estate

NEW YORK (AFP) ― Rupert Murdoch’s publishing group News Corp. is planning its biggest acquisition since splitting off its entertainment business, buying real estate listings website Move for $950 million.The U.S. media giant plans to offer $21 a share, or 37 percent higher than the NASDA...

Updated : 2014.10.01 21:10

Microsoft skips Windows 9 to emphasize advances

SAN FRANCISCO (AP) ― The next version of Microsoft’s flagship operating system will be called Windows 10, as the company skips version 9 to emphasize advances it is making toward a world centered on...

Updated : 2014.10.01 21:09

IMF urges infrastructure spending to boost recovery

The International Monetary Fund is urging countries to boost infrastructure spending to strengthen the sluggish global recovery. Increased investment in infrastructure such as roads and bridges is “o...

Updated : 2014.10.01 21:08

ECB under pressure as inflation falls again

LONDON (AP) ― Inflation across the 18 euro countries dipped further toward zero in September, piling pressure on the European Central Bank to pull the trigger on its biggest stimulus weapon ― a larg...

Updated : 2014.10.01 21:07

Argentina defies U.S. judge by depositing debt payment

BUENOS AIRES (AFP) ― Argentina deposited a $161 million payment on its restructured debt Tuesday, defying a U.S. judge who ruled it in contempt of court and ordered it to pay two “holdout” creditors first.The Argentine government, forced into default for the second time in 13 years as a...

Updated : 2014.10.01 21:07

Are toilets and bank accounts connected? In India, yes

Prime Minister Narendra Modi’s plan to develop India includes creating toilet access for all 1.2 billion people and opening a bank account for every adult who doesn’t already have one. India’s stat...

Updated : 2014.10.01 21:07

China to start direct yuan-euro trading

Yuan and euro banknotes. (Bloomberg)SHANGHAI (AFP) ― China will begin direct trading between its yuan currency and the euro starting on Tuesday, the national foreign exchange market’s operator said,...

Updated : 2014.09.30 20:17

Judge holds Argentina in contempt over bond orders

NEW YORK (AP) ― A judge, calling civil contempt a rarity, ruled that Argentina was in contempt of court on Monday for its open defiance of his orders requiring that U.S. hedge funds holding Argentine bonds be paid the roughly $1.5 billion they are owed if the majority of the South America...

Updated : 2014.09.30 20:16

More gloomy data casts doubt on Japan recovery

TOKYO (AFP) ― Japan’s factory output saw a surprise drop and household spending kept falling in August, data showed Tuesday, fanning fears about the impact of April’s sales tax rise on the economy.The figures will add to worries that the country’s tentative recovery has been knocked of...

Updated : 2014.09.30 20:16

Fed’s Evans says patience on rates means 2016 with low inflation

Federal Reserve Bank of Chicago president Charles Evans said he favors holding the federal funds rate near zero until the first quarter of 2016 to ensure that the economy is able to withstand higher borrowing costs. “Under appropriate policy, and with a quite good economic outlook, I stil...

Updated : 2014.09.30 20:15

EU to accuse Apple of taking illicit Irish state aid: report

BRUSSELS (AFP) -- The European Union said it will unveil on Tuesday details of investigations into sweetheart tax deals for Apple amid reports it will accuse the U.S. tech giant of getting illegal state aid.The probe into Apple's tax affairs in Ireland, where it has for years enjoyed an e...

Updated : 2014.09.29 21:37

Air France pilots end long strike

PARIS (AP) ― Despite no deal in sight, Air France’s main pilots union on Sunday unilaterally ended a 14-day strike that grounded roughly half of the airline’s flights, stranded passengers worldwide...

Updated : 2014.09.29 20:52