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EU fines Google record $2.7 billion in first antitrust case

27 Jun

BRUSSELS EU antitrust regulators hit Alphabet (GOOGL.O) unit Google with a record 2.42-billion-euro ($2.7 billion) fine on Tuesday, taking a tough line in the first of three investigations into the company’s dominance in searches and smartphones. It is the biggest fine the EU has ever imposed on a single company in an antitrust case, exceeding […]

EU hits Google with record $2.7 billion antitrust fine

27 Jun

BRUSSELS EU antitrust regulators hit Alphabet (GOOGL.O) unit Google with a record 2.42-billion-euro ($2.7 billion) fine on Tuesday, indicating they will likely take a tough line with the company in two other ongoing cases. The European Commission said the world’s most popular internet search engine has 90 days to stop favoring its own shopping service […]

Japanese stocks edge towards two-year high, dollar firms before Yellen

27 Jun

TOKYO Japanese stocks edged towards two-year highs on Tuesday as exporters benefited from dollar strength, with investors expecting comments from Federal Reserve Chair Janet Yellen to support the Fed’s projection for one more interest rate rise this year. Yellen is scheduled to take part in a discussion on global economic issues at London’s Royal Academy […]

S&P 500, Dow edge up; tech weighs on Nasdaq

26 Jun

The S&P 500 and the Dow barely rose on Monday as gains were offset by a fall in technology stocks, which pushed the Nasdaq lower as investors turned to more defensive sectors. The slow-growing, high-dividend S&P utilities .SPLRCU and telecommunications .SPLRCL were the best performers among the 11 S&P sectors. Technology .SPLRCT was the weakest […]

Wall St. pares gains as recovery in tech, oil pauses

26 Jun

U.S. stocks pared gains in late morning trading on Monday, as a recovery in technology stocks and oil prices stalled. Oil prices hovered near last week’s seven-month lows, hemmed in by a relentless rise in U.S. supply, bloated global inventories and a surge in demand for short sale contracts that signals investors see potential for […]

Italy bank deal lifts Europe shares, dollar on back foot

26 Jun

LONDON Shares rose in Europe on Monday, with Italian banks gaining after a deal to wind up two failed regional lenders, while the dollar and U.S. bond yields held close to recent lows as subdued inflation raised questions over the outlook for monetary policy. The-pan-European STOXX 600 share index rose 0.6 percent, led higher by […]

Japanese airbag maker Takata files for bankruptcy, gets U.S. sponsor

26 Jun

TOKYO Japan’s Takata Corp 7312.T, the firm at the centre of the auto industry’s biggest ever product recall, filed for bankruptcy protection in the United States and Japan and said it would seek $1.6 billion in aid from U.S.-based Key Safety Systems (KSS). In one of Japan’s biggest bankruptcies, Takata is facing tens of billions […]

Push on with the ‘great unwinding’, BIS tells central banks

25 Jun

LONDON Major central banks should press ahead with interest rate increases, the Bank for International Settlements said on Sunday, while recognizing that some turbulence in financial markets will have to be negotiated along the way. The BIS, an umbrella body for leading central banks, said in one of its most upbeat annual reports for years […]

Push on with the ‘great unwinding’, BIS tells central banks

25 Jun

LONDON Major central banks should press ahead with interest rate increases, the Bank for International Settlements said on Sunday, while recognizing that some turbulence in financial markets will have to be negotiated along the way. The BIS, an umbrella body for leading central banks, said in one of its most upbeat annual reports for years […]

Push on with the ‘great unwinding’, BIS tells central banks

25 Jun

LONDON Major central banks should press ahead with interest rate increases, the Bank for International Settlements said on Sunday, while recognizing that some turbulence in financial markets will have to be negotiated along the way. The BIS, an umbrella body for leading central banks, said in one of its most upbeat annual reports for years […]