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Business market news

  • Russia says ruble crisis over as reserves dive, inflation climbs

    Russia says ruble crisis over as reserves dive, inflation climbs

    Russia said on Thursday its currency crisis was over even though its forex reserves have plunged and annual inflation has climbed above 10 percent, adding to the problems facing the government as it fights its worst economic crisis since 1998. The ruble plunged to all-time lows last week on heavy...

  • Imagination Tech sees 'significant' improvement ahead after profit fall

    Imagination Technologies, the British company that supplies graphics processing to Apple Inc, said it expected an improved second half as costly investments which weighed on the first months of the year begin to pay off. The cost of developing its MIPS processing platforms — a computer processing...

  • Investments in Uber's Indian rivals uncertain after taxi app ban

    A ban on online taxi services in India, following the arrest in New Delhi of an Uber driver accused of rape, has brought uncertainty to the millions of dollars of international investment pumped into Uber's Indian rivals Ola and TaxiForSure. Ola raised $210 million in October from a group led by...

  • Twitter to start tracking users' mobile apps

    Twitter to start tracking users' mobile apps

    Twitter Inc will begin tracking what third-party apps are installed on users' mobile devices so the social media company can deliver more tailored content, including ads, the company said late on Wednesday. The feature, called "app graph," will allow the company to see what other applications users...

  • Samsung Electronics to buy back $2 billion in shares

    Samsung Electronics to buy back $2 billion in shares

    South Korea's Samsung Electronics Co Ltd on Wednesday announced a $2 billion share buyback plan, its first since 2007, following investor calls for higher returns against a backdrop of rapidly declining profits. The world's largest smartphone maker will buy back 1.65 million common shares and 250,000...

  • Traders seek out clues on stocks from Internet employee forums

    Traders seek out clues on stocks from Internet employee forums

    When digging for insight on a complex retail story such as Tesco, whose shares are at decade lows after profit warnings and boardroom upheaval, every little helps investors — even comments in employee chatrooms. While it may be far removed from stockbrokers' traditional balance-sheet analysis,...

  • Sprint cuts 2000 jobs, more leadership changes to come

    Sprint cuts 2000 jobs, more leadership changes to come

    Sprint Corp announced on Monday it will fire 2,000 employees and it cut its 2014 adjusted earnings forecast as the company attempts to reduce costs and turn around several quarters of losses. The layoffs are expected to lower labor costs by $400 million a year and are the latest job cuts by the...

  • Apple plans investor call ahead of a potential bond sale: WSJ

    Apple plans investor call ahead of a potential bond sale: WSJ

    Apple Inc is planning an investor call on Monday ahead of a potential bond sale, the Wall Street Journal reported, citing a banker working on the deal. Deutsche Bank AG and Goldman Sachs Group Inc are arranging the call, the newspaper reported. Apple, which is yet to sell bonds in any other currency...

  • Digital bank Atom seeks $32 million ahead 2015 launch: Sky News

    New British banking venture Atom is tapping investors to raise about 20 million pounds ($32.27 million) ahead of its planned launch next year, the Sky News reported late Tuesday. Atom, which plans to offer its services online and have no physical branches, is expected to raise the current round...

  • Fidelity Contrafund loads up on Facebook and it pays off

    Fidelity Contrafund loads up on Facebook and it pays off

    The $108 billion Fidelity Contrafund continues to have a big appetite for Facebook Inc's stock, adding to its position in the social media company during the third quarter and praising its mobile ad revenue growth and "visionary management." The fund, which is the largest mutual fund owner of Facebook,...

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