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Business 11 Dec 2013 | 11:01 AM

US lawmakers announce two-year budget deal

WASHINGTON: Congressional negotiators on Tuesday reached a two-year deal on US spending which aims to avoid a repeat of the government shutdown that paralyzed Washington in October.

Business 11 Dec 2013 | 8:29 AM

New GM CEO Barra seen as a winner early in her career

DETROIT: Until two years ago, Mary Barra, the incoming CEO of General Motors Co, was little known outside the automaker. But her rapid rise inside the company, including a 2011 promotion to senior vice president, was signaled more than a decade ago.

Business 19 Dec 2013 | 6:54 AM

Dow, S&P 500 end at record highs after Fed trims stimulus

NEW YORK: U.S. stocks staged an explosive rally on Wednesday, driving the Dow and the S&P 500 to all-time closing highs after the Federal Reserve announced it would start to unwind its historic stimulus.

Business 19 Dec 2013 | 6:51 AM

Beyonce album sets iTunes sales record

LOS ANGELES: R&B star Beyonce's latest self-titled album surpassed 1 million copies sold worldwide in six days on Wednesday and set a record for iTunes, Apple Inc and Columbia Records said

Business 11 Dec 2013 | 6:40 AM

Regulators seek to curb Wall St. trades with Volcker Rule

WASHINGTON: U.S. banks will no longer be able to make big trading bets with their own money after regulators on Tuesday finalized the Volcker rule and shut down what was a hugely profitable business for Wall Street before the credit crisis.

Business 07 Jan 2014 | 11:23 AM

PepsiCo's workplace wellness programme fails the bottom line

NEW YORK: A long-running and well-respected workplace wellness program at PepsiCo that encourages employees to adopt healthier habits has not reduced healthcare costs, according to the most comprehensive evaluation of a such a program ever published.

Business 27 Jan 2014 | 9:11 AM

BP back in favour despite spill legacy, Russia doubts

LONDON: If you had spent £10 on BP shares on April 19, 2010, you would have just £9 now, including dividends. A poor investment, however you cut it, but also a remarkable recovery.

Business 12 Feb 2014 | 7:43 AM

Wall Street up for fourth day in a row

NEW YORK: Wall Street rose for a fourth straight session on Tuesday as Congress agreed to advance legislation extending US borrowing authority and the Federal Reserve's new chief held off from making any changes to its schedule for trimming stimulus.

Business 12 Feb 2014 | 7:54 AM

US Fed says it will keep trimming stimulus

WASHINGTON: Janet Yellen, fresh from taking the helm of the Federal Reserve, made it clear on Tuesday she would not make any abrupt changes to US monetary policy, saying the central bank was on track to keep reducing its stimulus even though the labour market recovery was far from complete.

Business 08 Mar 2014 | 1:01 PM

S&P 500 ends at another record after strong jobs data

NEW YORK: US stocks finished mostly higher on Friday, with the S&P 500 closing at a record after more jobs than expected were created in February and January's figure was revised higher.