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Asia shares rally as Wall Street bounce relieves

SYDNEY (Reuters) – Asian equities got some much needed relief on Wednesday after upbeat U.S. earnings reports drove a rebound on Wall Street and helped restore a little confidence in emerging market stocks and currencies. FILE PHOTO: A logo of Japan Exchange Group Inc. is seen on a gavel before …

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IBM revenue misses as server, software sales slow

(Reuters) – IBM Corp reported a bigger-than-expected drop in revenue on Tuesday, hit by slowing software sales and wavering demand for mainframe servers, pointing to a bumpy recovery for the technology services giant that is in the midst of a turnaround. FILE PHOTO: A logo of IBM is seen at …

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Wall St. rallies over 2 percent with earnings, data boost

NEW YORK (Reuters) – U.S. stocks surged more than 2 percent on Tuesday after upbeat earnings reports from major companies including UnitedHealth and Goldman Sachs and solid economic data, as equities rebounded from a recent sharp sell-off. Traders work on the floor of the New York Stock Exchange (NYSE) in …

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U.S. seen likely to relieve Prudential of 'systemic' oversight

WASHINGTON (Reuters) – A panel of U.S. regulators is seen as likely to relieve Prudential Financial Inc (PRU.N) from stricter oversight when it meets on Tuesday, in a move that could reduce the insurance company’s regulatory costs. John Strangfeld, Chairman and Chief Executive Officer of Prudential Financial Inc speaks at …

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Sears faces tough foe: an unforgiving bankruptcy code

(Reuters) – When Sears Holdings Corp filed for Chapter 11 bankruptcy on Monday, it said it would close another 142 unprofitable Sears and Kmart locations and seek to reorganize around financially healthier stores. It also triggered a “time bomb” that retailers have had a tough time surviving. A derelict Sears …

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Google latest to withdraw from Saudi conference

(Reuters) – Alphabet Inc’s Google on Monday became the latest company to drop out of a business conference in Saudi Arabia. A Google sign is seen during the WAIC (World Artificial Intelligence Conference) in Shanghai, China, September 17, 2018. REUTERS/Aly Song Pressure has mounted on Saudi Arabia since prominent Saudi …

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